Altarea : FFO still expected to be sharply down in the short term, progress on the new housing supply
>Sales down 11% in line with our expectations - Altarea reported for 9M 2023 sales at € 1,815.5m, down 11.1% y-o-y and relatively close to our forecasts (€ 1,787m est.). On a residential development market that is in sharp decline in France, this performance reflects (as expected) Altarea’s continuing transition, which consists of selling off its housing supply from the previous cycle and develop a ‘new generation’ offering, enabling the group to once again generate s...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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