SFL – Third-Quarter 2018 Financial Information
Consolidated revenue by business segment (€000's)
|o/w||Paris Central Business District||119,038||114,326|
|Total consolidated revenue||143,790||147,819|
At €143.8 million, consolidated rental income for the first nine months of 2018 was down €4.0 million or 2.7% compared to the €147.8 million reported for the same period of 2017. The decline was due to the disposal of the IN/OUT property in September 2017, the effects of which were offset to a significant extent by growth in like-for-like income.
- On a like-for-like basis (excluding all changes in the portfolio affecting period-on-period comparisons), rental income was €6.0 million (4.6%) higher, reflecting the contribution of new leases signed in 2017 and 2018, mainly in the Washington Plaza, 103 Grenelle, Cézanne Saint-Honoré and 9 Percier properties, as well as an increase in rents for Galerie des Champs-Elysées retail units and for the #cloud.paris and 131 Wagram office properties.
- The sale of the IN/OUT building on 29 September 2017 led to a €9.7 million decrease in rental income compared to the first nine months of 2017.
- Lastly, income from assets under redevelopment and various penalties dipped by €0.3 million versus the year earlier period.
During the first nine months of 2018, leases were signed on close to 20,000 sq.m. of space, of which over 11,000 sq.m in the third quarter.
The average nominal rent for office space leased was €694 per sq.m. and the effective rent was €605 per sq.m.
The physical occupancy rate for revenue-generating buildings remained high, at 96.6% as of 30 September 2018 versus 96.4% as of 31 December 2017, while the EPRA vacancy rate stood at 2.5%.
No properties were purchased or sold during the first nine months of 2018.
At 30 September 2018, SFL's consolidated net debt amounted to €1,662 million, compared with €1,631 million at 31 December 2017, representing a loan-to-value ratio of 24.4% based on the portfolio’s appraisal value at 30 June 2018.
At 30 September 2018, SFL had €820 million in committed undrawn lines of credit.
Leader in the prime segment of the Parisian commercial real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €6.4 billion and is focused on the Central Business District of Paris (#cloud.paris, Edouard VII, Washington Plaza, etc.), and for the quality of its client portfolio, which is composed of prestigious companies in the consulting, media, digital, luxury, finance and insurance sectors. As France’s oldest property company, SFL demonstrates year after year an unwavering commitment to its strategy focused on creating a high value in use for users and, ultimately, substantial appraisal values for its properties.
Stock market: Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P rating: BBB+ stable outlook
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her, og modtag pressemeddelelser på e-mail. Indtast din e-mail, klik på abonner, og følg instruktionerne i den udsendte e-mail.
Flere pressemeddelelser fra Business Wire
PHILIP-MORRIS-INTERNATIO18.1.2019 18:02 | Pressemeddelelse
PMI’s Mission Winnow Goes Full Throttle with Ducati Corse for 2019 MotoGP™
NY-IFF18.1.2019 13:52 | Pressemeddelelse
IFF’s Frutarom Division Completes Acquisition of 60% of Thailand-based Mighty
LARSEN-&-TOUBRO-INFOTECH18.1.2019 13:04 | Pressemeddelelse
LTI Q3 FY19: Constant currency revenue growth up 6.1% QoQ and 20.6% YoY; Net Profit jumps 32.8% YoY
TX-SCHLUMBERGER-LIMITED18.1.2019 13:02 | Pressemeddelelse
Schlumberger Announces Full-Year and Fourth-Quarter 2018 Results
OR-FLIR-SYSTEMS18.1.2019 12:02 | Pressemeddelelse
FLIR Systems Awarded $89 Million Contract from French Armed Forces to Deliver Black Hornet Personal Reconnaissance System
ISAE-SUPAERO18.1.2019 09:02 | Pressemeddelelse
ISAE-SUPAERO Launches a New MOOC in the Field of Space and Aeronautics
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter samt finde vores kontaktoplysninger.Besøg vores nyhedsrum