Altarea : Results in line but visibility still poor on the timeline for the recovery
>2023 FFO at € 101.2m (-63%) and € 4.83 per share in line with forecasts - Altarea reported 2023 FFO at € 101.2m (-63% y-o-y) and FFO per share at € 4.83, in line with our forecasts and those of the consensus. As expected, this performance reflects a significant contraction in activity in residential development:Residential development (group share FFO 26%; -76% y-o-y): pre-lets in 2023 were down 16% in value (volume -20%) in a downward market of 26% in volume. T...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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