Share price

€46.00
( 1.77 %)
02/23/2024-3:22 p.m.

Share price

€46.00
( 1.77 %)
02/23/2024-3:22 p.m.

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.

“During 2022, we continued our strategy of strengthening our portfolio with assets that meet the objectives of our ESG policy. Our underlying annual results are growing, both in our operations and in the financial results. Building on the entrepreneurial DNA of PAREF, we will continue to offer high-end services to our clients and to deploy the ESG "Create More" plan with our stakeholders. I would like to express my thanks and appreciation to all PAREF Group employees for their involvement throughout the year, in a complex operational environment. It is thanks to their daily commitment that we have achieved these promising results this year.”