(Finance) – Covivioa French company operating in the real estate sector, has closed i first nine months of 2024 with revenues which mark growth of +4.9% on a current basis (compared to +1.8% in the 1st half), to 509 million euros for the Group’s share (779 million euros at 100%). The strengthening in the hotel property segment (with revenue growth of +23.5% on a current basis) and the positive operating dynamics in the three asset classes are greater than the effects of sales, especially of office properties.
It also accelerates the growth at constant perimeterat +6.8% (compared to +6.5% in the first half), thanks to indexation (2.8 pts), the increase in the occupancy rate and in relocation fees and renewals (3.0 pt), and finally to variable hotel revenues (1.0 pt).
The occupancy rate average of assets rose by +20 bps in the three months, to 97.3%, while the average duration of contracts fixed lease term is 6.4 years.
Outlook 2024 confirmed: recurring net result target (EPRA Earnings adjusted) in 2024 of approximately 460 million euros.