VITURA (EPA:VTR) CeGeREAL - Quarterly information Q1-2012

Transparency directive : regulatory news

11/05/2012 07:59

Press Release
Quarterly information
Paris, May 11, 2012 - 8:00 am

                          CeGeREAL - First Quarter 2012
                                  Revenues up 6%
                        New leases signed on 19,000 sq.m.

  * Revenues
CeGeREAL reported a total turnover (rental and related income - IFRS) of EUR10.8
million in the first quarter of 2012, an increase of 6% compared with the
year-earlier period.
Rental income rose by EUR441 thousand or 5% over the period, primarily as a
result of rent uplifts supported by the 5% average increase in the benchmark
construction cost index (ICC) in 2011.

                                 Q1 - 2012         Q1 - 2011
In thousands of euros *)         31/03/2012        31/03/2011       Var.
Rents                            8 984 KEUR        8 543 KEUR        5%
Expenses rebilled to tenants     1 859 KEUR        1 683 KEUR       10%
Turnover                        10 843 KEUR       10 226 KEUR        6%

                                                  (*) Data not yet audited

  * Mains events in 1st quarter of 2012

- Lettings: The office rental market in the Paris region contracted by 18%, with
514,000 sq.m. let during the quarter (source: Immostat database). CeGeREAL was
very active in this challenging market, signing new leases on 19,000 sq.m.
including 10,500 sq.m. letto Canal Plus (a leading TV channel) under a nine year
fixed lease and 4,300 sq.m. in the Arcs de Seine complex let to Hewlett Packard
under a nine-year lease with a tenant break option after six years. These
transactions confirm CeGeREAL's selective rental strategy designed to secure
long-term revenue streams.
The occupancy rate for the entire portfolio will stand at 80% including these
new leases, and the remaining vacant units in Arcs de Seine are being actively
marketed.

- Governance: Raphaël Tréguier has been promoted to Chief Executive Officer of
CeGeREAL SA.
After serving as Deputy Managing Director responsible for corporate affairs, he
replaces Bardo Magel. Carl-Christian Siegel succeeds Raphaël Tréguier as
Deputy Managing Director responsible for Real Estate affairs.

  * Financial Calendar
- June 28, 2012:         Annual General Meeting
- July 24, 2012:         2012 half-year results
- November 13, 2012:     Q3 Quarterly information

About CeGeREAL (NYSE Euronext Paris - Compartment B)

CeGeREAL is a REIT-style property company ("SIIC") that invests mainly in very
large prime office properties. Its portfolio currently comprises three office
buildings located in the inner suburbs of Paris. The portfolio's appraisal
value, as estimated by independent valuers BNPP Real Estate as of December
31, 2011, was EUR854 million excluding transfer costs.
www.cegereal.com

Media relations                            Investor relations
Lucie Larguier / 01 53 32 84 75/           RaphaëlTréguier/ 01 42 25 76 36 /
lucie.larguier@citigate.fr                 raphael.treguier@cegereal.com

VITURA 's latest news

04/07/2023 08:00

VITURA (EPA:VTR) CeGeREAL - Quarterly information Q1-2012

Transparency directive : regulatory news

VITURA 's latest news

Other stories