AFFINE (EPA:IML) 1Q15 - Temporary decrease of rents

Transparency directive : regulatory news

22/04/2015 18:00

Paris, 22 April 2015, 6:00 pm

                    Quarterly information as at 31 March 2015

                          TEMPORARY DECREASE OF RENTS

1) CONSOLIDATED REVENUE (THREE MONTHS)

(EURm)                    Q1 2014        Q1 2015        Change

Gross rental income          11.1           10.2          -8.1%

On a like-for-like basis, gross rental income declined by 5.2% over the course
of the first three months of 2015 compared to the same period the previous year,
owing mainly to the departure of two major tenants in Tremblay-en-France and
Mer. Taking into account the vacancy resulting from the restructuring in
progress of the Tangram building in Lyon, rents shrank by 8.1%, the impact of
sales otherwise being offset by acquisitions.

2) ACTIVITY

In the first quarter, 14 new leases were signed and 11 were renewed,
contributing to a total annual rent of EUR2.0m. Furthermore, 17 tenants which
ended their leases, accounted for total annual rents of EUR2.6m.

There were no sales du ring the quarter.

3) FINANCIAL SITUATION

The Group's financial structure has not significantly changed compared to
31 December 2014. Since the beginning of the year, Affine has signed
refinancing agreements totalling close to EUR30m.

4) OUTLOOK

The Group continues its balanced development strategy between the greater Paris
area and the six main regional cities in a fiercely competitive environment.
This policy of selective investment, based on the Group's profitability and risk
criteria and which in certain cases is implemented in partnerships, aims to
restore rents to the volume of previous years while at the same time maintaining
LTV at a prudent level. Investments will remain consistent with the Group's
disposal policy.

5) AGENDA

* 30 April 2015: Annual General Meeting
* 8 May 2015: Dividend payment (EUR1.0)
* 29 July 2015: 2015 Half-year revenues and earnings
* 21 October 2015: Third quarter revenues

ABOUT AFFINE GROUP

Affine is a real estate company specialised in commercial property. At the end
of December 2014, it directly owned 57 buildings with a total value of EUR5 75m,
excluding taxes, for a total floor area of 534,400 sqm. The firm owns office
properties (53%), retail properties (22%) and warehouses and industrial premises
(26%). Its assets are distributed more or less equally between Ile-de France and
the other French regions.

Affine is also the major shareholder (49.5%) of Banimmo, a Belgian property
repositioning company with operations in Belgium and France. At the end of
December 2014, Banimmo had total assets of 20 office and commercial buildings,
with a value of EUR335m (including trans fer taxes).

Total Group assets are EUR945m (including trans fer taxes).

In 2003, Affine opted for French real estate investment trust (SIIC) status. The
Affine share is listed on NYSE Euronext Paris (Ticker: IML FP/BTTP.PA; ISIN
code: FR0000036105) and admitted to the deferred settlement system (long only).
It is included in the CAC Mid&Small, SIIC IEIF and EPRA indexes. Banimmo is also
listed on NYSE Euronext.

To find out more: www.affine.fr. Follow our news thread on:
https://twitter.com/Groupe Affine

CONTACT
INVESTOR RELATIONS            PRESS RELATIONS
Frank Lutz                    RPpublics - Alexandra Richert
+33 (0)1 44 90 43 53 -        +33 (0)1 45 23 55 19 -
frank.lutz@affine.fr          alexandra.richert@rppublics.com

Quarterly revenue - Q1 2015

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