Created with sketchtool.

52.40 €
( 1.55 %)
21/05/2024-14:00

PRESENTATION OF 2022 ANNUAL RESULTS

You can see or review the conference by clicking on this link.

 

PAREF reports another year of operational success in all its business lines

PAREF Group’s total turnover reached €41m in 2022, up by 40% compared to FY 2021

  • Assets under Management exceeded €3.0 bn as at Dec 31, 2022, + 12% vs. Dec 31, 2021
  • EPRA Net recurring results up by +20% reached €4.9m (vs. €4.1m in 2021)
  • EPRA Net Asset value (Net Reinstatement Value/NRV) per share is €128.0 per share, down by -1,5% vs. €130.0 per share as at Dec 31, 2022
  • Loan to Value ratio (LTV)1 maintained at low level of 2 22% (equal to Dec 31, 2021)
  • Substantial liquidity of nearly €50 million (including an undrawn committed credit line)

The REIT activity continues to evolve towards assets undergoing major transformation for higher environmental quality

  • €192m of owned asset (+ 10% on a like-for-like basis vs. Dec 31, 2021)
  • Financial occupancy rate2 achieved 99.1%, improved by +3.8 points vs. Dec 31, 2021
  • The redevelopment project The Go located in Levallois-Perret was delivered in Q4 2022 and entirely let six months before the delivery
  • The redevelopment project of the Léon Front asset was launched after the construction permit was obtained and purged in 2022, with the objective of “HQE Very good”, “BREEAM Very good” and “WiredScore Gold” certificates

The management activity on behalf of third parties remains dynamic, with double-digit growth in assets under management

  • €2.8 bn managed on behalf of institutional or individual third parties, +13% vs Dec 31, 2021
  • Revenues on commissions reached €34.3m, increasing substantially by 61% vs. €21.3m in 2021
  • Gross subscription amounted to €194m, up by 92% vs. 2021
  • «The Medelan» witnessed significant progress in leasing activity, with 71% of the space leased or under binding offer

The Management Board of PAREF proposes a distribution of dividend at €3 per share to be paid in cash for the fiscal year of 2022, to be approved by the Annual General Meeting scheduled on May 17, 2023.

The Management Board of PAREF, during the meeting held on February 16, 2023, approved the closing of the annual statutory and consolidated accounts as of Dec 31, 2022. The review of the results by auditors is in progress.

« Throughout 2022, we continued our strategy of strengthening our portfolio with assets corresponding to our ESG strategy. Our underlying annual results are improving from both operational and financial standpoints. Supported by PAREF’s entrepreneurial DNA, we will continue to offer best-in-class services to our clients and deploy the «Create More» ESG plan with our stakeholders. I wish to express my gratitude to all the colleagues of PAREF Group, for their commitment throughout the year in a complex environment. It is the commitment of each colleague that enables us to achieve such promising results.»

Other news