Cofinimmo - In-line 1H23 results with contained portfolio adjustments
Gross rents increased to EUR 172.7 m, up 8.8% YoY and +6.4% on an LfL basis.Net results from core activity emerged at EUR 114m, up 13% YoY.Occupancy remains high at 98.5%.EPRA NAV NTA stands at EUR 101.57 per share, down 5% over the period.EPS guidance is confirmed at EUR 6.95 in 2023.We sustain our 'Hold' rating.Cofinimmo is a fixed capital real estate investment trust. Co. specializes in rental property. Its core investment segments are office property and nursing and care institutions. The portfolio also includes a Distribution property networks segment. Most of Co.'s assets are in Belgium. The foreign part consists of nursing homes/ clinics and the MAAF agencies network in France and the Pubstone portfolio in the Netherlands. Co.'s operations are organized into four segments: Offices, Nursing homes/Clinics, Distribution property networks, and Public-Private Partnerships.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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