ANF Immobilier Revenue Q3 2015
November 12 2015 - 2:05AM
Business Wire
Regulatory News:
The 2015 revenue target is confirmed
with 27.5% growth over nine months as rental income is buoyed by
planned acquisitions coming on stream
- Delivery of the largest project of the
year, 36,900 sq.m. of office space in the Carré de Soie district of
Lyon, generating €6.3 million in additional gross annual rental
income from July 1, 2015
- Revenues were up 27.5% in the first
three quarters of 2015: +1.4% on existing properties and +26.1%
from acquisitions
- Commercial real estate now accounts for
82% of ANF Immobilier's rental income, in line with its portfolio
rotation strategy
ANF Immobilier (Paris:ANF) revenues were up significantly
in the first three quarters of 2015, buoyed by a strong investment
strategy. The delivery of 36,900 sq.m. of office space in Lyon,
leased to Alstom, marked another stage of ANF Immobilier's
transformation. Rental incomes totaled €36.3 million, rising from
€28.6 million at September 30, 2014, up 27.5% over the first nine
months of the year.
Of this growth, 1.4% was due to an increase in rental income
from existing properties (on a like-for-like basis) resulting from
the combined effect of the coming on stream of the Ilot 34 project
in Marseille, now fully leased, the delivery of new furnished
housing in Marseille and the increase in variable rental income
from a hotel in Lyon, offset by the decrease in rental income from
retail premises in Marseille (2 units in the process of being
refurbished).
The additional 26.1% growth was rental income from acquisitions.
Over the first three quarters of 2015, this increase was mainly the
result of:
- the acquisition, in late 2014, of
36,000 sq.m. of office space in the Part-Dieu district of
Lyon (+€5.5 million);
- the delivery, in June 2015, of 36,900
sq.m. of office space in the Carré de Soie district of
Lyon (+€1.7 million);
- the delivery, recognized at the end of
2014, of 6,000 sq.m. of office space in the Bassins-à-Flot district
of Bordeaux (+€0.7 million).
Gross rental income 09/30/2015 Change Change
9/30/2014 (Published data, € million Acquisitions
Like-for-like € million IFRS in millions of Disposals euros)
Offices
17.5 97.8% 5.9% 8.6 Retail premises 8.6
-0.4% -7.4% 9.4 Housing 5.3
-4.3% 2.0% 5.4 Hotels 3.6 -17.3%
12.4% 3.8 Other (car parks) 1.3 -2.0%
0.3% 1.3 TOTAL 36.3 26.1% 1.4%
28.6
Rental income breaks down into 48% offices, 24% retail, 15%
residential and 10% hotels with the remainder comprising other
types of land use, mainly car parks. Commercial real estate now
accounts for 82% of the real estate company's rental income.
Outlook
ANF Immobilier is consolidating its strategy, built on three
separate pillars: targeting the most dynamic regional cities,
refocusing on commercial real estate and developing high
value-added projects. It is continuing its investment program with
€94 million invested over the first three quarters and a pipeline
of €230 million in secured transactions (€135 million group share)
which will be delivered between the second half of 2015 and
2017/2019. In order to sustain its growth, ANF Immobilier is
pursuing strategic partnerships such as the one signed with Crédit
Agricole Assurances at the beginning of the year, and targeted
disposals of its historical portfolio.
Current major projects include the Armagnac project in Bordeaux
with 46,000 sq.m. of mixed use space located in the Euratlantique
district, phased delivery of which is expected between 2017 and
2019, and the Banque de France project in Lyon, started in 2013,
delivery of which is scheduled for early 2016.
Thanks to its strong position in commercial real estate
regeneration in regional cities, ANF Immobilier raised its rental
income growth target for the current year to 15% in July 2015. The
positive quarterly figures support this objective.
Financial calendar2015
Annual ResultsMarch 22, 2016 (before the start of
trading)Publication of 2016 Revenues for Q1 2016May 11, 2016
(before the start of trading)Shareholders’ MeetingMay 11, 2016
About ANF Immobilier
ANF Immobilier (ISIN FR0000063091) is a French listed real
estate investment company which owns a diversified portfolio of
office, retail, hotel and residential property worth €1,165
million. It is currently undergoing a major transformation to
concentrate on commercial real estate, and aims to invest in the
regions and promote regional cities. It currently has assets in
Bordeaux, Lyon and Marseille. Listed on Eurolist B of Euronext
Paris and included in the EPRA real estate index, ANF Immobilier is
a company of the Eurazeo Group.
http://www.anf-immobilier.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151111006610/en/
ANF ImmobilierLaurent Milleron, +33 1 44 15 01
11investorrelations@anf-immobilier.comorPress:Perrine
Piat, +33 1 58 47 94 66perrine.piat@havasww.com
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Apr 2023 to Apr 2024