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

Q3 2020 Covivio SA Corporate Sales Call Transcript

Oct 15, 2020 / 04:30PM GMT

Release Date Price: €60 (-0.17%)

Transcript

Operator

Good day, everyone. Welcome to the Covivio activity at end September 2020. Today's conference is being recorded. At this time, I would like to turn the conference over to Tugdual Millet. Please go ahead, sir.

Tugdual Millet

Covivio - CFO

Thank you, and good evening, everyone. Thank you for attending this Q3 activity call from -- for Covivio. So let's directly start with some data and comments on our different markets. And let's begin with the office market. I'm on Page 4 of the presentation.

So after a very quiet Q2 to the lockdown, the letting activities picking up slowly on the back of more site visit and decision, which have been postponed for a few months. We are probably entering in a new cycle, but entering with a vacancy rate at the end of 2019 that has reached its lowest level over the next 10 years.

On the investment side, activity remains dynamic with new record in terms of yield in the gateway cities and particularly in Paris or Milan. Obviously, available money is eager to invest particularly on no-brainer asset even at stretched

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