Fonciere INEA - Q1 2024 trading update
Rental income up 22% YoY at EUR 18.8m.The growth was driven by the portfolio expansion (+12%) while Lfl growth stood at 10% (5.7% coming from indexation).We reiterate our ‘Hold' rating and EUR 38.00 TP.More details in our Note published this morningFonciere Inea. Fonciere Inea SA is a France-based company that specializes in owning and managing commercial real estate properties. The Company's portfolio consists of office buildings, e-mail platforms, local businesses and warehouses. The Company operates through its subsidiaries, including SCI PA, SCI Alpha 11 Marbeuf and SAS MD, among others. Fonciere Inea SA comprised properties located throughout over 20 regional cities in France, including Espace Concorde in Montpellier, Champ Chardon in Orleans, Exapole in Saint Herblain, Les Baronnies in Marseille, Za Kennedy, among others. The Company has also a 22% stake in Messageries Developpement SAS (formerly Saint Honore Patrimoine). The Company has operations only in France.
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