FREY (EPA:FREY) - FREY open-air shopping centres confirm their excellent performance

Transparency directive : regulatory news

27/10/2021 18:36

Bezannes, 27 October 2021 - Permanent information - 17:00

      FREY open-air shopping centres confirm their excellent performance

                        Rent collection rate (1): 90.4%
                      for the first 9 months of the year

              Very strong operational indicators versus 2019 (2)
                            Retailers' sales: +13%
                                 Footfall: +3%

                           Occupancy rate (3): 97.8%

The success of the open-air shopping centre model developed by FREY is
confirmed at the end of September with sound consolidated operational and
financial indicators, in particular:

* rent collections close to pre-Covid-19 crisis levels. The rent collection
  rate over the first 9 months of the 2021 fiscal year reached 90.4% as at the
  publication date, distributed as follows:
  o 94.1% for the 1st quarter (compared to 93% as published on 23 September
    2021);
  o 83.4% for the 2nd quarter (compared to 76% as published on 23 September
    2021); This improved rate does not take into account the French
    government's rent support plan, now approved by the European Commission,
    and for which the implementation decree is expected to be published soon;
  o and 93.9% for the 3rd quarter;

* a sustained leasing dynamic, ensuring a stability of the EPRA Vacancy rate at
  an extremely low level of 2.2%:
  o EUR7.0M in rents signed on operating properties since the start of the year
    (EUR6.6M group share);
  o and, in particular, new retailers attracted by the Shopping Promenade
    format: Pitaya, Starbucks, Skechers, Jott, Tesla, Pokawa, etc. in
    Strasbourg and Claye-Souilly' shopping centres.

In France, retailers recorded sound performances, with growth in retailers'
sales up 13% between mid-May and the end of August, compared to the same period
in 2019, despite growth in footfall being limited to +3% on the same comparison
base, impacted by restrictive measures covering the "Leisure" sector at FREY
sites (4).

2022 financial timetable
  o 24 February 2022: Publication of the 2021 annual results (after stock
    exchange closing)

(1) Rents and charges collected compared to rents and charges invoiced
attributable to the company owners over the first 9 months of the fiscal
year.
(2) Scope France: sites equipped with Footfall to measure footfall and sales
figures reported by retailers. Change in the indicators between mid-May and end
of August 2021 compared to the same period 2019.
(3) At end June 2021.
(4) To sum up: limited reception capacity and curfews until 30 June 2021,
staggered reopenings (gyms on 9 June, for example), institution of Covid
sanitary passes from 9 August in the F&B sector, still in force.

About FREY

A planner, developer, investor and manager, FREY is a real estate company
specialising in the development and operation of open-air shopping centres. A
pioneer in environmentally friendly retail parks (with its Greencenter?
concept) and inventor of next generation "Feel Good" open-air shopping centres
(Shopping Promenade?), the "entreprise à mission", B CORP certified FREY is
fully engaged in a more responsible, greener society that is socially
beneficial to its ecosystem and its stakeholders. As the company knows just how
essential it is to urban diversity, social contact, local economic resilience
and environmental transition, its mission is to restore retail as a service for
the common good. FREY also supports major urban renewal operations and
mixed-purpose projects through its dedicated subsidiary CITIZERS.
FREY is listed on compartment B of Euronext Paris. ISIN: FR0010588079 - Mnemo:
FREY.

CONTACTS:
Sébastien Eymard - Deputy Chief Executive Officer
Mathieu Mollière - Communication, Marketing and Innovation Director

Victoire Birembaux - Corporate Communication and Public Relations Manager
v.birembaux@frey.fr - Tel.: +33 (0)6 07 35 64 04

Agnès Villeret - Investor and Financial Press Relations - KOMODO
agnes.villeret@agence-komodo.com - Tel.: +33 (0)6 83 28 04 15

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28/02/2024 17:00

FREY (EPA:FREY) - FREY open-air shopping centres confirm their excellent performance

Transparency directive : regulatory news

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