PATRIMOINE ET COMMERCE: Q1 2023 RESULTS
PATRIMOINE ET COMMERCE
PATRIMOINE ET COMMERCE: Q1 2023 RESULTS
12-Apr-2023 / 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
Q1 2023 RESULTS
Paris, April 12, 2023
The gross rental income of the real estate portfolio of Patrimoine Commerce reached 12.1 million of euros for the first three months of 2023, an increase of +7.2% compared to 2022.
GROSS RENTAL INCOME
in millions of euros - 3 months
31/03/2023
31/03/2022
Var.
Var. %
Constant Perimeter
10.9
10.4
+0.5
+4.9%
Acquisitions
0.9
0.2
+0.7
n/a
Disposals
-
0.6
(0.6)
n/a
Properties under restructuring
0.3
-
+0.3
n/a
Gross rental income
12.1
11.3
+0.8
+7.2%
This increase is mainly explained by:
A like-for-like increase of +4.9%, due to the contractual indexation of rents and the decrease in the amortization of Covid-19 rent free periods, The delivery of restructuring operations on a property in Martinique and A net positive impact of +0.1 million euros as a result of acquisitions and disposals
Disposals
During the first quarter of 2023, Patrimoine Commerce completed the disposal of an isolated commercial unit in Vandoeuvre-lès-Nancy (Grand Est), for a total consideration of € 1.0m, in line with appraisal value.
Outlook
Eric Duval, Founder and Director of Patrimoine Commerce declared: « The performance of the first quarter of 2023 confirms the solid trend of 2022, with the increase in rents under the effect of indexation and the development of our portfolio. In 2023, we will continue to carry out targeted acquisitions and to dispose of non-core assets to strengthen our position as leader in low-cost retail parks in France”.
Agenda
June 8, 2023 Annual General Meeting
July 26, 2023 First-Half 2023 results
October 11, 2023 Third-Quarter 2023 activity
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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 more than 520,000 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
KEIMA Communication
Eric DUVAL
Managing Director
+33 (0)1 46 99 47 79
Emmanuel DOVERGNE
+33 (0)1 56 43 44 63
File: Q1 2023 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 Ticker: PAT AMF Category: Additional regulated information to be pubicly disclosed under the legislation of a Member State / First quarter financial report EQS News ID: 1604859 End of Announcement EQS News Service
1604859 12-Apr-2023 CET/CEST