PRESS RELEASE

from PATRIMOINE ET COMMERCE (EPA:PAT)

PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M

PATRIMOINE ET COMMERCE
PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M

11-Oct-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

Q3 2023 RESULTS

+6,1% in gross rental income at €37.4m

 

 

Paris, October 11, 2023

 

The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 37.4 million of euros for the first nine months of 2023, an increase of +6.1% compared to 2022:

GROSS RENTAL INCOME

 

 

 

 

 

 

 

 

 

in millions of euros - 9 months

30/09/2023

30/09/2022

Var.

Var. %

Like-for-like Perimeter

33.1

31.8

+1.3

+4.2%

Acquisitions

3.1

1.9

+1.2

n/a

Disposals

-

1.4

(1.4)

n/a

Properties under restructuring

1.2

0.2

+1.0

n/a

Gross rental income

37.4

35.3

+2.1

+6.1%

 

This increase is mainly explained by:

  • A like-for-like increase of +4.2%, due to the contractual indexation of rents and the decrease in the amortization of Covid-19 rent free periods,
  • The full year contribution of the restructuration of an asset in Martinique, delivered in 2022, and the delivery of the restructuring works of the shopping mall of Ville-du-Bois in 2023
  • A net negative impact of -0.2 million euros on acquisitions and disposals

 

Outlook

Eric Duval, Founder and Director of Patrimoine & Commerce declared: « Patrimoine & Commerce recorded in the third quarter of 2023 an increase of +6.1% of gross rental income, as a result of dynamic portfolio management. We are confident in the fundamentals and the resilience of our business model, and we intend to strengthen our position as the leader in low-cost retail parks in France».

 

Agenda

 

February 22, 2024 2023 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 more than 528,000 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 

emmanuel.dovergne@keima.fr 

 

 


Regulatory filing PDF file

File: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M


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:Inside information / News release on accounts, results
EQS News ID:1745719
 
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