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Earnings Release • Nov 15, 2019
1756_iss_2019-11-15_7401db59-b848-4637-bbb6-8b91276829ca.pdf
Earnings Release
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Paris, November 15, 2019 – 8:00 a.m. Quarterly financial information
CONTINUED GROWTH MOMENTUM IN THIRD-QUARTER 2019
Key indicators
| In millions of euros | Nine months 2019 |
Nine months 2018 |
Change |
|---|---|---|---|
| IFRS rental income | 46.8 | 39.2 | +19.4% |
| EPRA NAV per share excluding transfer duties (in €) |
42.4 | 41.6 | +1.9% |
| Occupancy rate | 95.0% | 92.9% | +2.1 pts |
Unaudited figures.
Rental income for the nine months ended September 30, 2019 totaled €46.8 million, a year-on-year increase of 19.4% fueled by the acquisition of the Passy Kennedy building in December 2018, which contributed €7.4 million over the period.
Record-high occupancy rate
The third-quarter arrival of Salto – the French VoD platform developed by French television channels TF1, M6 and France Télévisions – alongside other prestigious tenants confirms the status of Arcs de Seine as the flagship building of the TMT Valley. The campus is now fully occupied, bringing the overall portfolio occupancy rate to 95.0% at end-September 2019, up 2.1 percentage points year on year.
Cegereal leased 15,000 sq.m – or 8,4% of the total surface area in its portfolio – during the first nine months of the year, demonstrating the high quality and appeal of its assets. At end-September 2019, the average lease term of the portfolio remained at more than five years.
Repositioning of Europlaza
In order to anticipate tenants' expectations and needs, major renovation work is underway to transform the restaurant facilities at Europlaza into fully-fledged lifestyle premises. Delivery is expected in summer 2020, until which time Cegereal is maintaining a high level of service by offering alternatives to the tenants, such as takeaway facilities at the base of the tower.
With the transformation of its shared spaces and the creation of a garden of more than 3,000 sq.m, the user experience offered by Europlaza is unique in the La Défense market.
European leader in CSR
Since its creation, Cegereal has continuously strengthened its commitment to ESG matters.
Its efforts have been recognized with multiple awards, including from the Global Real Estate Sustainability Benchmark (GRESB), the international ESG benchmark for real estate assets. In 2019, the Company was ranked as the number one listed company in Europe and number three worldwide, all sectors combined.
Cegereal also received a Gold Award from the European Public Real Estate Association (EPRA) for the quality of its non-financial reporting, cementing its status as a responsible property company.
For more information, contact:
| Media Relations | Investor Relations |
|---|---|
| Aliénor Miens/Alexandre Dechaux | Charlotte de Laroche |
| +33 7 62 72 71 15 | +33 1 42 25 76 38 |
| [email protected] | [email protected] |
About Cegereal
Created in 2006, Cegereal is a commercial property company that invests in prime office properties in Greater Paris. The total value of the portfolio is estimated at €1,435 million at June 30, 2019 (excluding transfer duties). From an environmental point of view, Cegereal achieved first place among listed companies in Europe in the 2019 Global Real Estate Sustainability Benchmark (GRESB) ranking. Its portfolio is fully certified with NF HQETM Exploitation and BREEAM In-Use International certification.
Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €696 million at November 13, 2019.