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Press release & Business review – 2017 annual results

5 march 2018
RECORD GROWTH IN 2017
FFO per share: +20.7%
ALTAREA COGEDIM, LEADING PROPERTY DEVELOPER IN FRANCE

Leading property developer in France
  • Consolidated pipeline: Potential value of €17.1 billion (+17%) (essentially controlled in the form of options)
  • Leadership in large mixed-use projects: 9 projects underway (above 750,000 m²)
  • New orders (Residential & Office): €3.7 billion (incl. tax) (+29%)
  • Backlog (Residential & Office): €4.2 billion (excl. tax) (+28%)

Residential
  • New orders: €2.6 billion (+15%) i.e. 11,189 units (+12%) - New orders tripled in 4 years

Office
  • New orders: €1.1 billion (+80%)
  • Pipeline Investment: €3.1 billion (€0.9 billion in Group share)

Retail
  • Rental income: +3.7% (+3.9% like-for-like)
  • Portfolio: €4.7 billion (€3.1 billion in Group share)
  • Pipeline: €3.4 billion (€2.9 billion in Group share)

Results
  • Revenue: €1,940 million (+22.6%)
  • Recurring net result (FFO): €256,3 million (+33.5%) i.e. €16.42/share (+20.7%)
  • Diluted Going Concern NAV: €2,793 million (+16.5%) i.e. €174.0/share (+9.1%)
  • Dividend: €12.50/share (+8.7%)
  • LTV: 36.1% (-110bps)

 
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Altarea Cogedim