Altarea : Strong operational agility and caution on the short-term outlook
>Outperform and agility in residential development - Altarea has reported a good operating performance for 9M 22 across all business lines with sales of € 2,043m over the period (-0.8% y-o-y) a shade below our forecast (€ 2,089m est.):Residential development (sales of € 1,641.2m, i.e. -1.6% y-o-y, 40% H1 22 FFO) : pre-lets in 9M 22 were up 6% in value terms and 3% in volumes (+9% and +2%, respectively, in H1 22), another outperformance vs peers. In order to achie...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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