Brief: Covivio Sees 2024 Recurring Net Income Of Around EUR 440 Million

Covivio SA

15/02/2024 18:08

Feb 15 (Reuters) - Covivio SA  CVO.PA :
    * SEE THE DETAILS OF THIS PRESS RELEASE "2023 ANNUAL
RESULTS:
AHEAD OF TARGETS AND CONTINUED GROWTH IN RECURRING EARNINGS"
    * FY CONSOLIDATED REVENUES OF €1 BILLION (€648 MILLION GROUP
SHARE), +2.4% ON A REPORTED BASIS AND +6.4% LIKE-FOR-LIKE
    * 2024 OUTLOOK ► MAINTAIN FINANCIAL DISCIPLINE: €580 MILLION
DISPOSAL TARGET AND PROPOSED DIVIDEND OF €3.30 PER SHARE FOR
2023, WITH OPTION FOR  PAYMENT IN SHARES
    * 2024 OUTLOOK: UNLOCKING OF GROWTH POTENTIAL THROUGH
INDEXATION,
REVERSION AND ASSET MANAGEMENT TRANSACTIONS
    * 2024 OUTLOOK: TARGET TO RETURN TO A 2024 FULL CASH
DIVIDEND WITH
A PAYOUT RATIO ABOVE 80%
    * FY RECURRING NET INCOME (ADJUSTED EPRA EARNINGS) UP +1% AT
€435
MILLION (€4.47 PER SHARE) VERSUS. FIRST GUIDANCE OF €410 MILLION
    * 2024 RECURRING NET INCOME (ADJUSTED EPRA EARNINGS)
GUIDANCE OF
AROUND €440 MILLION, SLIGHTLY UP WHILE PURSUING  DELEVERAGING
    * COVIVIO HOLDS ASSETS WORTH €23.1 BILLION (GROUP SHARE
€15.1
BILLION) IN EUROPE,
    * FY NET DEBT REDUCED BY ALMOST €700 MILLION TO EUR 6.93
BILLION

Source text: http://tinyurl.com/48v85jdm
Further company coverage:  CVO.PA 

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