PARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rentPARIS–(BUSINESS WIRE)–Regulatory Data:
Gecina (Paris:GFC):
Acceleration of operational tendencies all through the second half of the yr
Gross rental income up +4.4% like-for-like to €626m (vs. +3.0% at end-June)
Occupancy cost rising (+190bp year-on-year, +210bp for locations of labor)
Optimistic reversion of +24% recorded on locations of labor in 2022
Pipeline’s optimistic web contribution to rental income (+€5m) and NAV (+€2.5/share)
Recurrent web income per share of €5.56, up +4.5% (vs. +3.9% at end-June)
€1.8bn of newest credit score rating traces and €750m of 11-year bond placements
€161m of product sales achieved or secured, with a premium of +8% versus end-2021 appraisal values
2023 recurrent web income per share anticipated to attain €5.80 to €5.90
Very sturdy industrial train in 2022 all through all asset programs
Quite a few rental transactions signed throughout the second half of the yr at spherical €1,000/sq.m/yr
100% of the office initiatives delivered in 2022 or to be delivered in 2023 let or pre-let
Gross rental income up +4.4% like-for-like in 2022 (+3.0% for the first half of the yr)
Widespread occupancy cost up +190bp year-on-year to 93.1% (+80bp over six months)
as a lot as 93.1% (+80bp over six months) Indexation that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9%
that is progressively firming up, contributing +2.1% in 2022, whereas the most recent ILAT index revealed at end-December was 5.9% Strong rental reversion captured on locations of labor , with +24% on the buildings relet (+13% at end-June 2022) and over +10% for residential (+8% all through the primary half of the yr)
captured on , with on the buildings relet (+13% at end-June 2022) and over (+8% all through the primary half of the yr) Pipeline’s optimistic web contribution , which accelerated throughout the second half of the yr
, which accelerated throughout the second half of the yr Overheads beneath administration and down barely in a context of rising inflation
Proactive administration of debt no matter an not sure context
Widespread value of debt regular in 2022 at 1.2% common
at 1.2% common €750m of bond debt raised as a result of the start of 2022, with a imply value of 1.36% and a imply maturity of 11 years : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023
as a result of the start of 2022, with a imply value of and a imply maturity of : bond problem in January 2022, swaps prepare in August, and bond traces tapped in December 2022 and January 2023 Liquidity surplus of spherical €1bn , making it doable to cowl current bond maturities through to 2027
, making it doable to cowl current bond maturities through to 2027 Extreme hedging cost over the transient, medium and long term (over 90% in 2023-2025, and nearly 80% on frequent through to end-2028, with a imply hedging maturity of seven years)
Steady financial aggregates in 2022
Recurrent web income per share up +4.5%
Portfolio value : -0.6% over 12 months (along with value creation from the devoted pipeline), with a optimistic rent influence in central sectors offsetting the rise in capitalization costs
: -0.6% over 12 months (along with value creation from the devoted pipeline), with a NTA of €172.2 per share ( -2.3% year-on-year)
of €172.2 per share ( year-on-year) NDV of €183.8 per share, up +6.3% due to the valuation of hedging units and fixed-rate debt
of €183.8 per share, due to the valuation of hedging units and fixed-rate debt LTV along with duties of 33.7%, in line with top-of-the-line market necessities
along with duties in line with top-of-the-line market necessities 2022 dividend: €5.30 per share, paid in full in cash 1
2023: optimistic tendencies to proceed, with +4.3% to +6.1% recurrent web income per share improvement anticipated
Recurrent web income (Group share) is predicted to attain €5.80 to €5.90 per share in 2023, up +4.3% to +6.1%.
Beñat Ortega, Chief Govt Officer: “In 2023, Gecina will revenue from the embedded improve throughout the occupancy cost, the stronger affect of indexation, the optimistic reversion captured and the occasion pipeline’s rental contribution. Alongside this, the Group’s steadiness sheet development affords good visibility over modifications in financial payments, extra strengthening our confidence for the yr and supporting our steering for 2023”.
Dec-21 Dec-22 Change (%) Like-for-like Workplaces 490.4 498.5 +1.6% +4.6% Typical residential 105.4 106.8 +1.3% +2.0% Scholar residences 17.5 20.5 +17.7% +14.2% Gross rental income 613.3 625.9 +2.0% +4.4% Recurrent web income (Group share)2 392.0 409.9 +4.6% Per share (€) 5.32 5.56 +4.5% LTV (excluding duties) 34.2% 35.7% +145 bp LTV (along with duties) 32.3% 33.7% +136 bp EPRA Internet Reinstatement Value (NRV) per share 193.5 189.5 -2.1% EPRA Internet Tangible Belongings (NTA) per share 176.3 172.2 -2.3% EPRA Internet Disposal Value (NDV) per share 173.0 183.8 +6.3% Dividend per share3 5.30 5.30 –
Gross rental income of €625.9m, up +4.4% like-for-like
(vs +3.0% at June 30, 2022 and -0.4% in 2021)
Workplaces: optimistic rent
