Brief: Covivio H1 Revenue Up 6.5%, Raises 2024 Guidance

Covivio SA

22/07/2024 07:14

July 22 (Reuters) - Covivio SA  CVO.PA :
    * FIRST-HALF 2024 RESULTS
    * H1 2024 REVENUE AT EUR 326.8 MLN VS 321.2 LAST YR, UP 6.5%
    * H1 RECURRING NET RESULT (ADJUSTED EPRA EARNINGS) UP +3% TO
€231
MILLION (€2.24 PER SHARE, DOWN 4.8%)
    * IMPROVED 2024 OUTLOOK
    * 2024 RECURRING NET RESULT GUIDANCE (ADJUSTED EPRA
EARNINGS) OF
AROUND €460 MILLION (COMPARED WITH AN INITIAL GUIDANCE OF
€440M), UP +6% VERSUS. 2023
    * H1 OCCUPANCY RATE AT 97.1%
    * H1 NET LOSS FOR THE PERIOD (GROUP SHARE) EUR 8.4 MLN
VERSUS LOSS
689.7 MILLION YEAR AGO
    * AIMS TO RETURN TO A FULL CASH DIVIDEND PAYMENT FOR 2024,
WITH A
PAYOUT RATIO OF OVER 80%

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