Report

Gecina - Excellent H1 resulting in guidance uplift

Rents landed at EUR 332.9m, up 6.9% YoY on a LfL basis, driven primarily by indexation (+4.2%), increases in occupancy (+1.6%) as well as positive rental reversion (+1.1%). Contained portfolio devaluation at -4% LfL vs December end, with clear polarisation between central and less central locations ongoing.Net recurrent income per share guidance lifted to EUR 5.90-6.00 (EUR 5.80-5.90 previously), or +6 to +8%, as a result of solid rental performance and balance sheet control. A very strong set of results, with portfolio benefitting from both accelerating indexation figures and positive reversion in Paris City. ‘Buy' reiterated.The company hosts a conference
Underlying
Gecina SA

Gecina is a rental real estate company. Co.'s purpose is to operate individual rental properties or group of properties located mainly in France. Co.'s properties include commercial assets (offices and retail outlets), residential assets, logistics assets, hotels and healthcare facilities. Co. is organized around two main sectors and one ancillary segment: Economic sector comprising the commercial segment (offices and retail outlets), the portfolio of logistics properties and of hotel buildings; Demographic sector comprising traditional residential units (housing units property holding), portfolio of students residences and of healthcare facilities; Ancilary segment of real estate services.

Provider
Degroof Petercam
Degroof Petercam

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