Report
Florent Laroche-Joubert

Covivio : Deleveraging is the priority in a wait-and-see investment market

>2022 EPRA earnings at € 4.58/share (+5.2% y-o-y), slightly ahead of expectations - Yesterday evening Covivio reported 2022 adjusted EPRA earnings of € 4.58/share (+5.2% y-o-y), slightly ahead of the consensus (€ 4.51) and the guidance (“around € 4.50”). This performance includes like-for-like growth in rental income of 12.7% and an improvement in the occupancy rate to 96.6% (vs 96.2% at end-September and 95.0% at end-20221), which reflects a strong recovery in hote...
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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