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

Full Year 2020 Covivio SA Earnings Call Transcript

Feb 18, 2021 / 09:00AM GMT

Release Date Price: €64.3 (-0.77%)

Transcript

Christophe Kullmann

Covivio - CEO & Director

Good morning, everybody. And Thanks to attending this call of the results of Covivio 2020. I'm here today with Tugdual Millet, our CFO; and also with Dominique Ozanne and Olivier EstÃ¨ve, our Deputy CEOs. So let's start Page 4. What -- 2020 was a year of great achievement in the context of crisis. The first 1 is reinforcement of our exposure in Germany.

Today, Germany represents 37% of the total portfolio of Covivio. And in the year, the total portfolio increased by EUR 1.4 billion in group share to EUR 17.1 billion and EUR 25.7 billion in total.

One of the big achievements of 2020 is the success of our disposal plan. We achieved, at the end, EUR 900 million of disposal -- roughly EUR 900 million of disposal, above -- strongly above the target of more than EUR 600 million, that we communicate in the market 1 year ago before the crisis. And what is also interesting to notice is the level of the margins that we are able to attack on this disposal to more than 8% compared to the total value for the end of 2019.

80% of the disposal

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