DJ PATRIMOINE ET COMMERCE: Q3 2024 RESULTS +5.6% IN GROSS RENTAL INCOME AT EUR39.5M
PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q3 2024 RESULTS +5.6% IN GROSS RENTAL INCOME AT EUR39.5M 11-Oct-2024 / 08:00 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- PRESS RELEASE Q3 2024 RESULTS +5.6% in gross rental income at EUR39.5m Paris, October 11, 2024 The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 39.5 million of euros for the first nine months of 2024, an increase of +5.6% compared to the first nine months of 2023. GROSS RENTAL INCOME in millions of euros - 9 months 30/09/2024 30/09/2023 Var. Var. % Constant Perimeter 38.3 36.7 1.6 +4.3% Acquisitions 0.6 0.4 0.3 n/a Properties under restructuring 0.6 0.3 0.3 n/a Gross rental income 39.5 37.4 2.1 +5.6%
This increase is mainly explained by:
-- A like-for-like increase of +4.3%, mainly due to the contractual indexation of rents, and the decrease inthe amortization of Covid-19 rent free periods.
-- The full-year impact of the delivery of restructuring works (La Ville-du-Bois) and of acquisitions(Saint-Parres-aux-Tertres) carried out in 2023.
Disposals
During the first nine months of 2024, Patrimoine & Commerce continued its asset rotation policy with the disposal of a small commercial gallery in Gaillon (Normandie), as well as two isolated commercial units in Saint-Gaudens (Occitanie) and in Chambly (Hauts-de-France) for a total consideration of EUR 2.1m.
Outlook
Eric Duval, Founder and Director of Patrimoine & Commerce declared: "Patrimoine & Commerce observes a +5.6% increase in rents in the third quarter of 2024, as a result of active portfolio management. We are confident in the fundamentals and robustness of our economic model, and we aim to strengthen our status as a leading player in low-cost retail parks in France".
Agenda
February 19, 2025 2024 Full-Year Results
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About Patrimoine & Commerce
Patrimoine & Commerce owns and operates a real estate portfolio, largely comprising retail property, covering a total surface area of close to 530,000 sqm. The assets are mainly located in retail parks near mid-sized towns throughout France. Patrimoine & Commerce benefits from a significant identified deal flow that will enable it to feed its growth, in terms of both assets under development and operating assets.
Patrimoine & Commerce is listed on NYSE Euronext Paris.
ISIN code: FR0011027135 - Mnémo code: PAT
For further information, go to: www.patrimoine-commerce.com
For information, please contact:
PATRIMOINE & COMMERCE PRESS - INVESTORS RELATIONS
Eric DUVAL
CYLANS
Managing Director
Tél.: +33 (0)7 88 09 17 29
+33 (0)1 46 99 47 79
patrimoine-commerce@cylans.fr
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Regulatory filing PDF file File: EN_PR Q3 24 Results
=----------------------------------------------------------------------------------------------------------------------
Language: English
Company: PATRIMOINE ET COMMERCE
45 avenue Georges Mandel
75016 PARIS
France
Phone: +33146994762
E-mail: contact@patrimoine-commerce.com
Internet: https://www.patrimoine-commerce.com/
ISIN: FR0011027135
Euronext PAT
Ticker:
AMF Category: Additional regulated information to be pubicly disclosed under the legislation of a Member State / Third
quarter financial report
EQS News ID: 2006309
End of Announcement EQS News Service
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2006309 11-Oct-2024 CET/CEST
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October 11, 2024 02:01 ET (06:01 GMT)
