Altarea Cogedim: Q1 sales up 36%
(CercleFinance.com) - Consolidated sales amounted to 592.
5 million euros in the first quarter of 2019, up +36% y-o-y (and +32% excluding changes in the group's consolidation scope), driven by Property development (+40%) and a sound performance of the Retail portfolio (+9%).
In the last quarter, rental income increased by 5.6% to 49.1 million euros. At a constant consolidation scope, growth reached +2.3%.
"Given the very good performance of this 1st quarter, the Group confirms its FFO target of around E300 million by 2020... 2019 FFO is expected to be consistent with this path, with a more pronounced half-year seasonality effect than in 2018," said Alain Taravella, the company's chairman and founder.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5 million euros in the first quarter of 2019, up +36% y-o-y (and +32% excluding changes in the group's consolidation scope), driven by Property development (+40%) and a sound performance of the Retail portfolio (+9%).
In the last quarter, rental income increased by 5.6% to 49.1 million euros. At a constant consolidation scope, growth reached +2.3%.
"Given the very good performance of this 1st quarter, the Group confirms its FFO target of around E300 million by 2020... 2019 FFO is expected to be consistent with this path, with a more pronounced half-year seasonality effect than in 2018," said Alain Taravella, the company's chairman and founder.
Copyright (c) 2019 CercleFinance.com. All rights reserved.