Covivio: sets strategic priorities for 2030

(CercleFinance.com) - Covivio outlined its strategic priorities for 2030 on Thursday at an investor day held in Paris, a roadmap that includes - amongst other things - extracting growth potential from its portfolio.


Citing "the start of a new cycle", the property management company explains that its aim is to eventually balance its portfolio towards a one-third exposure to each of its asset classes (hotels, residential, offices).

By way of comparison, its portfolio currently comprises 20% hotels, 30% residential and 50% offices.

According to the real estate group, this strategy will involve continuing to strengthen its position in the hotel market, with the aim of increasing its exposure to Southern Europe.

On the office front, Covivio plans to continue ramping up its operated office offering, the success of which it says has contributed to the steady rise in its occupancy rate, which stood at 95.6% at the end of September.

On the environmental front, Covivio says it is well on the way to achieving its target of reducing carbon emissions by 40% between 2010 and 2030, notably through the implementation of its 235 million euro green investment plan.

For the record, revenues to end-September were up 6.8% LFL, including +8.3% in offices, +4.2% in German residential and +7.1% in hotels.

The occupancy rate stands at 97.3%, for an average firm lease term of 6.4 years.

In Paris, Covivio shares were up 0.3% on Thursday morning in the wake of these announcements. The share price has gained 6% YTD.


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