Brief: Altareit Q1 Consolidated Turnover Down At EUR 504.7 Mln

Altareit SCA

02/07/2020 08:17

July 2 (Reuters) - Altareit SCA  AREIT.PA :
    * SUSTAINED UPTURN IN BUSINESS, PARTICULARLY IN HOUSING
    * Q1 CONSOLIDATED TURNOVER: €504.7 MILLION, A LIMITED DROP
(-6.0%)
DESPITE 15 DAYS OF CONFINEMENT
    * AVAILABLE LIQUIDITY AT JUNE 30, 2020: €2.3BN
    * AT JUNE 30, 2020, ALTAREIT'S NET FINANCIAL DEBT AMOUNTED
TO
APPROXIMATELY €246 MILLION, COMPARED TO €334 MILLION AT DECEMBER
31, 2019
    * NO DIVIDEND WAS PROPOSED
    * A SUSTAINED UPTURN IN ACTIVITY: 100% OF THE SITES REOPENED
    * COMMERCIAL REAL ESTATE: SIGNIFICANT DELAYS ON ALL CURRENT
CONSTRUCTION SITES
    * EXPECTS INCREASED DEMAND FOR RESIDENTIAL REAL ESTATE,
WHOSE
PRE-EXISTING SHORTAGE WILL HAVE BEEN REINFORCED DURING THE
CONTAINMENT PERIOD
    * OUTLOOK: STILL AIMS IN MEDIUM TERM TO DEVELOP 18,000 TO
20,000
HOUSING UNITS PER YEAR

Source text: https://bit.ly/2VDjq1v
Further company coverage:  AREIT.PA 

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