PATRIMOINE ET COMMERCE: Q3 2024 RESULTS +5.6% IN GROSS RENTAL INCOME AT €39.5M

11 Oct 2024 08:00 CEST

Issuer

PATRIMOINE ET COMMERCE

PATRIMOINE ET COMMERCE
PATRIMOINE ET COMMERCE: Q3 2024 RESULTS +5.6% IN GROSS RENTAL INCOME AT €39.5M

11-Oct-2024 / 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 2024 RESULTS

+5.6% in gross rental income at €39.5m

 

 

 

Paris, October 11, 2024

 

The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 39.5 million of euros for the first nine months of 2024, an increase of +5.6% compared to the first nine months of 2023.

GROSS RENTAL INCOME

 

 

 

 

 

 

 

 

 

in millions of euros - 9 months

30/09/2024

30/09/2023

Var.

Var. %

Constant Perimeter

38.3

36.7

1.6

+4.3%

Acquisitions

0.6

0.4

0.3

n/a

Properties under restructuring

0.6

0.3

0.3

n/a

Gross rental income

39.5

37.4

2.1

+5.6%

 

This increase is mainly explained by:

  • A like-for-like increase of +4.3%, mainly due to the contractual indexation of rents, and the decrease in the amortization of Covid-19 rent free periods.
  • The full-year impact of the delivery of restructuring works (La Ville-du-Bois) and of acquisitions (Saint-Parres-aux-Tertres) carried out in 2023.

 

 

Disposals

During the first nine months of 2024, Patrimoine & Commerce continued its asset rotation policy with the disposal of a small commercial gallery in Gaillon (Normandie), as well as two isolated commercial units in Saint-Gaudens (Occitanie) and in Chambly (Hauts-de-France) for a total consideration of € 2.1m.

 

Outlook

Eric Duval, Founder and Director of Patrimoine & Commerce declared: “Patrimoine & Commerce observes a +5.6% increase in rents in the third quarter of 2024, as a result of active portfolio management. We are confident in the fundamentals and robustness of our economic model, and we aim to strengthen our status as a leading player in low-cost retail parks in France”.

 

Agenda

February 19, 2025 2024 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 close to 530,000 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 

PRESS – INVESTORS RELATIONS

 

Eric DUVAL 

Managing Director 

+33 (0)1 46 99 47 79 

 

CYLANS

Tél. : +33 (0)7 88 09 17 29

patrimoine-commerce@cylans.fr

 

 

Regulatory filing PDF file

File: EN_PR Q3 24 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 / Third quarter financial report
EQS News ID: 2006309
 
End of Announcement EQS News Service

2006309  11-Oct-2024 CET/CEST

OHKTETOUNXPSXKXTBAEYRCOP_EN_PR_Q3_24_Results.pdf

Source

PATRIMOINE ET COMMERCE

Provider

EQS Group

Company Name

PATRIMOINE ET COMM

ISIN

FR0011027135

Symbol

PAT

Market

Euronext