ANF Immobilier : Revenue Growth of 18% in the 1st Quarter of 2015
May 06 2015 - 2:42AM
Business Wire
- Annual rental income growth target
of 12% confirmed
- 44% of rental income from offices in
the 1st quarter of 2015
- Ongoing strategic partnerships with
Crédit Agricole Assurances
Regulatory News :
ANF Immobilier (Paris:ANF) revenues totaled €11.3 million at the
end of the 1st quarter of 2015. They amounted to €9.6 million at
March 31, 2014. This 18% increase reflected the transformation
undertaken and the company's secure property investment
program.
The 22% increase in rents resulted from three major commercial
property transactions from the pipeline:
- the acquisition, in Lyon, of the
current Adecco France head office in the Tête d’Or district and
that of the Areva regional headquarters in the Part-Dieu
district;
- and the delivery of the second part of
the new CDiscount head office project in the Bassins-à-Flot
district in Bordeaux.
These three transactions accounted for nearly 60,000 sq.m. of
office space rented, that is, €134 million in investments deployed
(€86 million Group share). The growth was hindered by the impact of
sales completed, which resulted in a 2% decrease in growth (single
lots in Lyon and historical B&B hotels), and another 2%
decrease due to longer commercialization cycles in Marseille.
Gross rental income(Published data,IFRS in € millions) Q1
2015
(€ millions)
Change Q1 2014
(€ millions)
Offices
5.0 +82% 2.7 Retail
2.9 -10% 3.3 Housing
1.8
+1% 1.8 Hotels
1.1 -18% 1.4
Other (car parks)
0.4 +3% 0.4 TOTAL
11.3 +18% 9.6
Rental income is now split 44% in office, 26% in retail, 16% in
residential and 10% in hotel space with the balance in other real
estate, primarily car parks. Whereas offices accounted for only 28%
of rental income in the 1st quarter of 2014, this new distribution
illustrates the gradual metamorphosis of the real estate
company.
ANF Immobilier is consolidating its strategy, built on three
separate pillars: targeting the most dynamic regional cities,
refocusing on commercial real estate, and value creation through an
intensive development and asset management policy. It is pursuing
its investment program with a pipeline of €330 million in secured
transactions which will be delivered between 2015 and 2017/2019
(€200 million Group share). In order to sustain its growth, the
Company is pursuing strategic partnerships such as the one signed
with Crédit Agricole Assurances, which was expanded at the
beginning of the year to include the dual Adecco France Group
transaction. Current major projects include the Silky Way
transaction with 36,600 sq.m. of office space in the Carré de Soie
district in Lyon, which is expected to be delivered in the summer
of 2015, and the Armagnac transaction, consisting of 46,000 sq.m.
of mixed use space located in the Euratlantique zone in Bordeaux,
planned for delivery in phases between 2017 and 2019.
ANF Immobilier confirmed its rental income growth target of 12%
for 2015 thanks to its strong position in commercial real estate
rejuvenation in regional cities.
x x
x
2015 Financial
calendar
2015 half-year results July 21, 2015 (before the start of
trading) Presentation of the 2015 half-year results July 21, 2015
(11:30 am Paris + audio conference and webcast) 2015 3rd quarter
revenues November 12, 2015 (before the start of trading)
About ANF ImmobilierANF
Immobilier (ISIN FR0000063091) is a French listed real estate
investment company which owns a diversified portfolio of office,
retail, hotel and residential property worth €1,107 million. It is
a transformation real estate company, currently undergoing a
metamorphosis to concentrate on commercial real estate, value
creation and support for large, dynamic regional cities in France.
It currently has assets in Bordeaux, Lyon and Marseille. Listed on
Eurolist B of Euronext Paris and included in the EPRA benchmark
real estate index, ANF Immobilier is part of the Eurazeo
Group.http://www.anf-immobilier.com
ANF Immobilier contact:Laurent Milleron, Tel: +33
1 44 15 01 11investorrelations@anf-immobilier.comorPress
contact:Perrine Piat, Tel: +33 1 58 47 94
66perrine.piat@havasww.com
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