Befimmo : Q3 2022 figures: Outlook reiterated and strong direct results, but yield decompression across the entire portfolio worries
>Strong direct results supported by the continuity of strong indexation, financing cost and leverage continue increasing - Yesterday after market closed, Befimmo reported better direct results than our estimates. From the Q3 results, we highlight the following:Outlook 2022 EPS €2.40 – 2.45 reiterated, in line with our estimate of €2.41.LTV slightly worsened, stood at 42.2% (vs. 41.5% at H1 2022). Average financing cost increased at 1.9% (1.6% in H1 2022). §...Befimmo is engaged in real estate investments. Co.'s activities are dedicated solely to the ownership and management of a real-estate portfolio. As of Dec. 30, 2012, the portfolio consisted principally of office buildings located in Brussels and let to public authorities or private businesses, and office buildings in various town centres in Flanders and Wallonia, let long-term to public authorities, and a building located in the city of Luxembourg.
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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