Report
Florent Laroche-Joubert

Covivio : Resilience in office and residential real estate and the capacity to outperform in hotels at the exit from the crisis!

>A solid operational performance and value asset prove resilient - Yesterday evening, Covivio published FY 2020 results that came in a shade above our forecasts and the group's guidance, with EPRA earnings at € 4.21/share (-20.7% y-o-y) vs € 4.15 estimatedOffice and residential real estate (85% of the portfolio): the performance delivered reflects, as was the case in H1, a very good degree of resilience. At constant scope (cs), rental income in the office segment...
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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