Gecina: NRV per share down slightly in H1 2020
(CercleFinance.com) - Gecina has published an EPRA Net Reinstatement Value (NRV) up +3.
9% year-on-year to 191.7 euros per share at 30 June, although recurrent net income group share per share that is down 0.8% at 2.94 euros for the first half of 2020.
The real estate company highlights 3.6% like-for-like growth in office rents (+2.9% overall), as well as an increase in the valuation of its portfolio over the first half of the year, driven by residential and office properties in the most central areas.
Recurrent net income per share in 2020 is expected to range from 5.55 euros (adverse scenario) to 5.70 euros (close to the initial pre-Covid-19 assumption of 5.80 euros), depending on how the economic situation develops and the potential effects that this might have on Gecina's business in the second half of the year.
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