publié le 11/10/2024 à 08:00 par PATRIMOINE ET COMMERCE

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

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

Acquisitions Patrimoine & Commerce Real Estate Portfolio Gross Rental Income Q3 2024 Results

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