Covivio SA (XPAR:COV)

€ 48.2 -0.18 (-0.37%) Market Cap: 5.02 Bil Enterprise Value: 15.14 Bil PE Ratio: 0 PB Ratio: 0.61 GF Score: 76/100

Q1 2020 Covivio SA Corporate Sales Call Transcript

Apr 22, 2020 / 04:30PM GMT

Release Date Price: €57.65 (-1.87%)

Transcript

Operator

Good day, and welcome to the Activity at End-March 2020 Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Christophe Kullmann. Please go ahead, sir.

Christophe Kullmann

Covivio - CEO & Director

Thank you. Good evening, everyone. Thanks for joining this call on the Q1 activity of Covivio. Before going through the first quarter news flow in this crisis phase, let's take a step back on our business model.

And on Page 4. As you know, Covivio is a diversified company, mainly exposed to Office and Residential, which represent 84% of our portfolio as of today. Diversification in terms of asset class and in term of countries offer a secure profile to the company. The resilience of our revenues relies also on the solidity of our tenant base. On Offices, which represents 60% of our portfolio, 91% of our revenues come from large corporates. On German Resi, residential activity is one of the most resilient. We have no vacancy and benefit from a market with a structural lack of supply. On Hotels,

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