SCBSM: Strong increase in recurring profit in the 2nd half of 2023-2024

Paris, October 1, 2024 – SCBSM, a real estate company listed on Euronext Paris, has published its preliminary results for the 2023-2024 financial year. The full results will be presented in the Universal Registration Document at the end of October.

SCBSM went through two distinct periods. In the first half, the increase in interest rates affected the value of the assets (-€9.2 million) and the cost of net debt (-€2.9 million), resulting in a net result of -€6.6 million. However, in the second half, the improvement in operating profitability allowed rental income to increase by 7% and operating income by 14%.

This improvement could continue in 2024-2025, thanks to the restructuring of the Ponthieu building in Paris. Recurring net profit increased from €4.9 million to €5.9 million between the two halves. Net profit for the second half of the year amounts to €6.9 million after adjusting values.