Paris - April 15, 2016 - 8:00 a.m.
Quarterly financial information
Cegereal - Rental income up 13.9%
"Alongside our good operating results, the first quarter was shaped by Northwood Investors' tender offer in January 2016, followed by the successful placement of over 40% of the capital," said Raphaël Tréguier, Chief Executive Officer of Cegereal. "The redesign of the company's shareholding allows us to maintain our status as a French REIT and to welcome GIC as a key partner."
- Key figures
| In millions of euros | Q1 2016 | Q1 2015 | Change |
| IFRS gross rental income | 12.1 | 10.7 | +13.9% |
| Portfolio occupancy rate | 92.7% | 90.9% | - |
| EPRA earnings | 6.8 | 3.7 | +84.9% |
| In euros per share | |||
| Share price | 33.4 | 29.5 | +13.1% |
| Dividend | 2.0 | 1.65 | +21.2% |
This statement has not been subject to auditors' review.
- Entry of new shareholders and REIT status maintained
The Northwood Investors concert now only holds 57.48% of Cegereal. Northwood, which held 98.44% of Cegereal's share capital following the tender offer that closed on January 25, 2016, has sold a portion of its CGR shares in a financing round with leading institutional investors, including GIC, which took up 25%.
This transaction allows Cegereal to continue to benefit from the REIT tax regime.
The maintenance of REIT (Real Estate Investment Trust) status is conditional on a single shareholder or several shareholders acting in concert - within the meaning of Article L.223-10 of the French Commercial Code - not holding, directly or indirectly, more than 60% of the company's share capital, as per Article 208C of the French General Tax Code.
- Amount to be distributed in dividends in 2016: €2.0 per share
At the Annual Shareholders' Meeting on May 26, 2016, Cegereal intends to recommend paying a total of €2.0 in dividends per share in 2016. The dividend will be paid on July 20, 2016, subject to shareholders' approval.
Investor Calendar
- May 26, 2016 Annual Shareholders' Meeting
- July 20, 2016 Payment of the 2015 dividend
- July 22, 2016 First-half 2016 results
- October 2016 Third-quarter 2016 revenue
For more information, please contact:
Media Relations
Aliénor Miens / +33 (0)1 53 32 84 77
alienor.miens@citigate.fr
Investor Relations
Raphaël Tréguier / +33 (0)1 42 25 76 36
raphael.treguier@cegereal.com
About Cegereal
Created in 2006, Cegereal is a commercial property company that invests in prime office properties in Greater Paris. The portfolio's appraisal value is estimated by independent valuers DTZ Eurexi at €1 billion as of December 31, 2015 (replacement value).
To date, Cegereal is the first French property company with a fully certified portfolio from an environmental point of view (HQE and BREEAM "Very Good") and benefits from the Green Star rating in the international benchmark GRESB.
Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €480 million on April 13, 2016.
www.cegereal.com.
