STE: financial estimates for end-2024

(CercleFinance.com) - Société de la Tour Eiffel (STE) estimates that the fair value of its real estate assets could fall by around 6% LFL in 2024, reflecting current market conditions and efforts to reposition the portfolio.


Taking into account financial leverage (LTV of 44.5% and EPRA LTV of 62.9% at 30 June 2024), estimates of the change in fair value and earnings for the year, the impact on the various net asset values (NAV) would be a negative -15% to -20%, or therabouts.

In a rental market that remains tense, STE expects the financial occupancy rate (EPRA) at end-2024 to fall by around two points y-o-y to 76%, a decline mainly due to disposals and the Nanturra business hotel delivered at the end of November.


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