Foncière Volta 2023 annual results

The company Foncière Volta has communicated its annual results for the 2023 financial year, marked by significant investments and real estate transformations. In particular, the finalization of the transformation of a logistics site in Guadeloupe into a Retail park, called “Moudong Plaza”. Renovation work was also carried out on the Gourbeyre site, in Guadeloupe.

Financially, the company released 9.6 million euros as part of a 15 million euro credit obtained in 2022, intended mainly for projects overseas. Operating profit increased from 3.55 million euros in 2022 to 4.56 million in 2023, benefiting from the revaluation of its real estate assets. Nevertheless, the net result group share was negative with -6.25 million euros in 2023, mainly due to increased financial charges and costs associated with new debts.

The outlook for the company includes possible work on Parisian assets, as well as the recent refinancing of a portfolio of assets in Paris for €7.6 million. Foncière Volta's overall debt increased, reaching 63.8 million euros at the end of 2023, thus raising the LTV ratio to almost 50%.