Vitura: Financial information for the third quarter of 2022

  • €40.2 million in IFRS rents in the third quarter of 2022

  • 16,000 m² let since the start of the year, including 4,000 m² in the third quarter

  • Vitura named world number one in the GRESB ranking (office property companies)

  • Major renovations to the property continue
    Unaudited figures.

PARIS, November 17, 2022–(BUSINESS WIRE)–Regulatory news:

Vitura (Paris:VTR):

Solid operational performance

In the first nine months of 2022, Vitura recorded IFRS rental income of 40.2 million euros, compared to 42.7 million euros in the same period of the previous year. The decrease is mainly due to the departure of Crédit Foncier de France from half of the Rives de Bercy offices in July 2021, as well as the departure of Canal+ from the Arcs de Seine building in October 2021. The acquisition of the Office Kennedy building, which generated rental income of €3.4 million over the period, compensated for these departures. The indexation of rents applied to the anniversary dates of leases had an impact of 1.7% on rental income for the first nine months.

Vitura recorded a good operational performance, with more than 16,000 m² marketed since the start of the year. The occupancy rate of the portfolio stands at 76.5% as of September 30, 2022.

In the third quarter, Vitura continued major renovation work on its buildings. In order to meet the changing uses and needs of tenants, from the beginning of 2023, the Arcs de Seine building will be equipped with a new congress center and a sports hall, offering users a dynamic work environment. with lots of amenities. Renovations are also underway at the Rives de Bercy, led by the architecture firm Naço.

A solid financial structure

Consolidated debt amounted to €829 million as of September 30, 2022, representing a loan-to-value ratio of 52%, based on the value of the portfolio as of June 30, 2022. Vitura refinanced and negotiated line extensions existing credit with major global banks, extending the average maturity of its debt to four years. As of September 30, 2022, all of the Group’s debt was hedged.

Recognition of Vitura’s sustainability strategy

Each year, the GRESB (Global Real Estate Sustainability Benchmark) assesses and compares the environmental, social and governance (ESG) performance of real estate companies around the world. In the GRESB 2022 ranking, Vitura is once again named world number one in the listed office real estate category, with a score of 95/100. Thanks to its high-quality sustainability strategy, Vitura maintains its five-star rating and top-three ranking, which it has held since its first participation in the GRESB assessment in 2014. The Company also announced that it received two gold medals Awards from the European Public Real Estate Association (EPRA) for the quality and transparency of its financial and non-financial reporting.

Vitura’s efforts and commitments to achieve carbon neutrality by 2050 continue, notably with the deployment of an energy efficiency plan for each property in the portfolio.

Investor calendar

  • March 8, 2023: 2022 annual results

  • May 10, 2023: General Meeting of Shareholders

  • May 11, 2023: First-quarter 2023 revenue

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About Vitura

Founded in 2006, Vitura is a listed real estate company (“SIIC”) which invests in prime office buildings in Paris and Greater Paris. The total value of the portfolio is estimated at €1,568 million as of June 30, 2022 (excluding duties).

Thanks to its strong commitment to sustainability, Vitura was named world number one in the latest category of listed office real estate companies of the Global Real Estate Sustainability Benchmark (GRESB) and received two Gold Awards from the European Public Real Estate Association (EPRA) for the quality and transparency of its financial and non-financial reports.

Vitura is an SCPI listed on Euronext Paris since 2006, compartment B (ISIN: FR0010309096). The Company had a market capitalization of €434 million as of November 16, 2022.

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