Altarea : Disciplined management in development causes sharp short-term FFO decline
>Assumption of a very strong 83% decline in FFO in H1 2023 - Altarea reported yesterday evening FFO for H1 2023 at € 21.7m (-83% y-o-y), FFO per share at € 1.05 (-83% y-o-y) and going concern NAV at € 146.0 per share (-14% y-o-y). The group is fully comfortable with the sharp FFO decline, which follows the group’s decision to reduce commitments in residential develop in a context where Altarea sees the residential market in a downward adjustment phase which should las...Altarea Cogedim is a real estate investment trust and development company. Co. is an active operator in the three main segments — retail, residential & office-hotels property — with the ability to design, develop, market & manage custom-tailored real estate products. In the Retail segment, Co. is active in real estate investment, development, asset management, providing services to third-party customers. In the Residential segment, Co. is a residential property developer. In the Office Property segment, Co. is a global operator active in all commercial property formats: high-rise buildings, business districts, corporate headquarters, renovation projects, green districts & luxury hotels.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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