SFL - Financial Information for the 3rd Quarter 2015
October 12 2015 - 01:04PM
Business Wire
Regulatory News:
SFL (Paris:FLY):
Rental income: €123.7 million
(+9.7%)
Consolidated
revenue by business segment (€000’s)
30/09/15 30/09/14
Rental income 123,679 112,741 o/w
Paris Central Business District 99,061 94,638 Western
Crescent 3,585 3,553 Other 21,034
14,550 Other revenue 0 0
Total consolidated
revenue 123,679 112,741
Rental income stood at €123.7 million on 30 September 2015
versus €112.7 million on 30 September 2014, an increase of €10.9
million (+9.7%).
- On a comparable portfolio basis, rental incomes increased by
€5.5 million (+5.4%), primarily as a result of new leases signed in
2014 and 2015.
- Projects under development during the period in question
showed a slight decline in income of €0.1 million.
- The acquisition of the Condorcet (December 2014) and Percier
(June 2015) buildings generated an increase in rental income of
€7.0 million on 30 September 2015.
- Finally, the collection of a penalty payment for the early
termination of a lease in 2014 led to an income reduction of €1.5
million on 30 September 2015.
In a rental market that remains highly selective, SFL achieved
an outstanding performance with more than 72,000 sq.m. leased
during the first nine months of 2015. The nominal rent for these
office leases stands at €530/sq.m. and the effective rent at
€413/sq.m. In the third quarter of 2015, the new leases related
primarily to 3,600 sq.m. of offices in the #Cloud.paris building
and 1,800 sq.m. in the Washington Plaza.
The occupancy rate for revenue-generating buildings reached
96.6% on 30 September 2015 versus 87.1% on 31 December 2014. This
very significant increase is due to the OECD’s lease on the In/Out
building coming into effect.
Progress on development projects has continued throughout the
period and relates primarily to the #Cloud.paris building, which is
50% pre-leased and will be delivered in November 2015, and the Le
Vaisseau building (Issy-les-Moulineaux), which has been pre-leased
and will be delivered in early 2016.
There were no acquisitions or divestments during the third
quarter of 2015.
SFL's consolidated net debt stood at €1,750 million on 30
September 2015 compared to €1,572 million on 31 December 2014 and
was equivalent to 34.4% of the value of the portfolio. On 30
September 2015, SFL had €490 million in undrawn back-up lines of
credit.
ABOUT SFL:
Leader on the prime segment of the Parisian tertiary real estate
market, the Société Foncière Lyonnaise stands out for the quality
of its property portfolio, which is valued at 4.8 billion euros and
is concentrated on the Central Business District of Paris (Louvre
Saint-Honoré, Edouard VII, Washington Plaza, etc.), and for the
quality of its client portfolio, which is composed of prestigious
companies in the consulting, media, digital, luxury, finance and
insurance sectors.
STOCK MARKET:
Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409
– Bloomberg: FLY FP – Reuters: FLYP PA
S&P RATING: BBB stable outlook
www.fonciere-lyonnaise.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151012005963/en/
SFLThomas Fareng, + 33 (0)1 42 97 01
51t.fareng@fonciere-lyonnaise.com
Fly Leasing (NYSE:FLY)
Historical Stock Chart
From Feb 2024 to Mar 2024
Fly Leasing (NYSE:FLY)
Historical Stock Chart
From Mar 2023 to Mar 2024