(Finance) – Covivioa French company operating in the real estate sector and listed on Euronext Milan, closed 2021 with 27 billion euros heritage (€ 18 billion stake pertaining to the group), up by € 1 billion over the previous year. 901 million euros were registered new sales agreements with a + 4% margin, 80% relating to office properties. THE rental income they reached 888.2 million, an increase of 3% on a like-for-like basis, of which 604 million euros pertaining to the group.
“Success of the development pipeline, record year for the marketing of office properties, strong growth in values and rents in the German residential sector, recovery and positive prospects for hotels: Covivio records positive results on the entire front of its activities“, commented theCEO Christophe Kullmann. “In addition to the quality of the assets, which is constantly improving, with over 90% of green certified properties in Europe, it also strengthens the confidence of our customers and partners in our strategy,” he added.
L’EPRA Earnings adjusted for 2021 amounts to 410 million euros, up + 6.6% compared to the previous year (4.35 euros per share and + 3.3% following the payment of the 2020 dividend in shares). “The decline in rental income from office properties, due to asset rotation, was more than offset by growth in hotels and the performance of residential properties in Germany,” the company said. The Covivio Board of Directors will propose a dividend in cash of € 3.75 per share, an increase of + 4.2%. The target of EPRA Earnings adjusted for 2022 it is in the order of 4.5 euros per share, assuming that the recovery of the hotels continues.