PAREF – 2019 Half-Year Results

31 July 2019

PAREF – 2019 Half-Year Results
Solid results in a context of reinforcing PAREF capacities for further growth

 

A portfolio of asset under management of €1.8 Bn

  • €128 Mn of owned assets (+3% on a like-for-like basis)
  • €1,656 Mn managed on behalf of third parties through SCPI1 and OPCI2 (+14% compared to December 31, 2018), thanks to a gross subscription amount of €144 Mn in H1-2019 vs. €97 Mn in H1-2018 (+49%)

 

Financial indicators in strong growth

  • EPRA Triple net NAV at €103.4 per share (+8% vs. June 30, 2018)
  • Revenues at €21.1 Mn vs. €15.7 Mn (+34% vs. June 30, 2018)
  • Net commissions of €7.8 Mn vs. €6.6 Mn in H1-2018 (+19%)
  • Net Rental Income at €3.1 Mn vs. €3.2 Mn in H1-2018 (+3% on a like-for-like basis) due to the disposal of 4 assets
  • Net recurring EPRA result of €4.82 Mn (€4.9 Mn in H1-2018)

 

“The Group is entering into a new phase to accelerate its development following the restructuring completed in the past months. Operational dynamism during the first semester in 2019 is well demonstrated by significant acquisitions for funds managed for third parties, disposals of matured assets directly owned by PAREF, the refinancing of the Group, the launch of a redevelopment project for the asset located in Levallois-Perret, as well as the signature of purchase agreement for 6 floors in Franklin Tour at La Défense. Thanks to the efforts excelled from its employees and the confidence from the investors allowing to reach a new record of gross subscription, PAREF Group continues its strategy of value creation for the asset portfolio under management.”

Antoine Onfray – Deputy CEO

 

“PAREF continues its repositioning to start the new era of its development. We are particularly pleased with the strengthening of this management team with the arrival of Anne Schwartz as Managing Director of PAREF Gestion. Her in-depth expertise and know-how in the business will accelerate the development of new investment vehicles dedicated to different types of assets across Europe. I would like to thank Gilles Chamignon who decided to focus on a new professional project. With its three pillars, the Group has now the necessary organization to develop its activities.”

Antoine Castro – CEO

 

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