PAREF - 2019 Half-Year Results
Solid financial results in a context of strengthening the Group's capacities
A growing portfolio of assets reaching nearly 1.8 billion euros
- € 128 million in own account assets (+ 3% at constant scope since December 31, 2018)
- € 1,656 million managed on behalf of third parties (+ 14% since December 31, 2018) in the form of SCPIs and OPCIs thanks to a new gross inflows record reached in the first half of 2019 of € 144 million compared to € 97 million for the same period in 2018 (+ 49%)
Solid financial indicators
- Triple net EPRA NAV of € 103.4 per share (+ 8% vs. June 30, 2018)
- Turnover of € 21.1m vs. € 15.7m (+ 34% vs. June 30, 2018)
- Net commissions of € 7.8m compared to € 6.6m at 1st semester 2018 (+ 19%)
- Net rental income of € 3.1m compared to € 3.2m at 1st half of 2018 (+ 3% at constant scope) following the disposal of 4 assets
- Recurring EPRA net income of € 4.82m (€ 4.9m at 1st semester 2018)
“The Group has entered a phase of accelerating its development following the restructuring carried out. Significant acquisitions for the funds managed, the disposal of mature assets on PAREF, the refinancing of the Group, the launch of the restructuring project for the asset located in Levallois-Perret or the signing of the promise to purchase for 6 floors from the Franklin tower to La Défense, reflect the operational dynamics of 1st Half-year 2019. Backed by its employees and the confidence of investors, which once again allow record gross inflows, the PAREF Group is continuing its strategy of creating value for all of the assets under management. "
Antoine Onfray - Deputy CEO
“The PAREF Group is continuing its repositioning in order to begin a new era in its development. We are particularly pleased with the strengthening of the management team with the arrival of Anne Schwartz as Managing Director of PAREF Gestion. His very good knowledge of our businesses will accelerate the development of new investment vehicles dedicated to different types of European assets. I would like to thank Gilles Chamignon who decided to devote himself to a new professional project. Thanks to its three pillars, the Group now has the necessary organization to develop its activities. "
Antoine Castro - Managing Director