on PATRIMOINE ET COMMERCE (EPA:PAT)
PATRIMOINE ET COMMERCE: FIRST-HALF 2024 RESULTS
On July 23, 2024, the Supervisory Board of Patrimoine & Commerce approved the company's half-year financial statements. Key achievements include a 6.1% increase in gross rental income and a 16.2% rise in net profit attributable to the group.
The asset portfolio reached a valuation of € 859 million, with an improved Loan-To-Value (LTV) ratio of 42.5%. The group’s gross rental income for the first half of 2024 amounted to € 26.2 million, up from € 24.7 million in 2023.
Operationally, the company inked 33 new leases, pushing the financial occupancy rate to 95.2%. The rent collection rate was 99.1% for the period.
Patrimoine & Commerce’s net debt stood at € 358.6 million, and its NAV per share decreased slightly to € 28.7. A capital increase reserved for Crédit Agricole Centre France will raise € 20 million to support future growth.
R. P.
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