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2021 Third Quarter revenues
8 Nov 2021
Finance
Regulatory information
1 - Financial information
2021

Residential: strong growth in supply allows Altarea to take full advantage of the demand from Individuals

  • Growth in supply:
    • Accelerating pace of projects coming to market
    • €1,875 million (+4.8% vs. June 2021 and +20% vs. December 2020)
  • New orders from Individuals:
    • Strong momentum in rental investment
    • €1,194 million (+20%) and 4,090 units (+32%)
  • New orders from Institutionals:
    • Institutional sales back to normal
    • €681 million (-52%) and 2,953 units (-46%)
  • Revenue1:
    • Targeted increases in sale prices and margins
    • €1,668.2 million (+1.0% vs. 2020 and +22% vs. 2019)

Retail: indicators moving in right direction in an environment of confidence restoration

  • Retailer sales:
    • Excellent third quarter 2021 despite the health passport
    • Return to pre-crisis levels (excluding restaurants and leisure activities)
  • Decline in vacancies:
    • Strong rental demand from retailers
    • Vacancies down to 3.3% (-0.3 pts vs. June and -0.8 pts vs. December 2020)
  • Back to normal:
    • Collection rate of 91%2 in Q3
    • Rental income of €137.3 million (-2.5%)
  • Gare Montparnasse:
    • Iconic delivery on budget and on schedule
    • Demonstration of Altarea's ability to deliver large and complex projects

Business property: the development in Regions is taking over the major office projects in the Paris Region

  • New orders (9 months):
    • Dynamic demand in the Regions, €206.6 million (+49%), including 2 off-plan sales in Bordeaux (office) and Béziers (logistics)
  • Revenue1:
    • Smaller developments projects with higher margins
    • €232.9 million (-18.3%), positive trend in Regions/Paris mix

ESG indicators

  • Altarea ranked number 1 by the Challenges-Statista as "2021 Climate Champions" in France
  • Altarea confirms GRESB "Green Star 5*" status and become number 2 in its category in Europe
  • €350 million green loan signed for CAP3000

Consolidated financial indicators

  • 9-month revenue:
    • €2,060 million (-1.9% vs. 2020; +8.5% vs. 2019)
  • Net debt3:
    • €2,405 million (+€124m vs. 30 June 2021)
  • Guidance: FFO4 Group Share growth of around 10% in 2021, subject to the health situation not worsening

Good progress on Primonial group acquisition

  • €800 million syndicated bank loan agreed, several conditions precedent lifted

Unaudited data as of 30 September 2021

1. Revenue by % of completion and external services.

2. Rents and charges collected compared to rents and charges invoiced.

3. Consolidated bank and bond net debt.

4. Funds From Operations (FFO): net profit excluding changes in value, calculated expenses, transaction fees and changes in deferred tax. Group share. As a reminder, FFO reported for 2020 was €230.3 million.

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Altaréa SCA published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 17:37:10 UTC.