Report
Florent Laroche-Joubert

Covivio : Good agility in the storm!

>85% of the portfolio is well positioned and very resilient - Yesterday evening Covivio reported H1 2020 results that reflect a resilient operating performance in its office and residential portfolio (85% of total assets), in line with our estimates. At constant scope, rental income from offices (60% of assets) was up +1% in France, +2% in Italy and +2.8% in Germany. Though the first effects of the rent freeze are starting to be felt in Berlin (+2.3% at constant scope...
Underlying
Covivio SA

Fonciere des Regions is a long-term real etaste investor with a focus on office assets. Co.'s portfolio includes investment properties and properties under development. Co. holds a range of real estate assets, to collect lease payments and benefit from appreciation in the assets held. Co.'s activities can be divided into five segments: Office Markets in France; Office Markets in Italy; Logistics; Business Premises; and Car Parks.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Florent Laroche-Joubert

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