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

Half Year 2021 Covivio SA Earnings Call Transcript

Jul 21, 2021 / 04:30PM GMT

Release Date Price: €78.66 (+2.34%)

Transcript

Operator

Good day, and welcome to the to Covivio 2021 Half Year Results. Today's conference is being recorded. And at this time, I'd like to turn the conference over to Christophe Colman, CEO. Please go ahead, sir.

Christophe Kullmann

Covivio - CEO & Director

Thank you. Welcome, everybody. So this H1 result from Covivio, so I will immediately start by Page 4. The first half has been dynamic for Covivio on all fronts. On offices, we managed to sign 140,000 square meters of new contracts and renewals. Our value are slightly up. This is mainly thanks to our development pipeline. On German resi, we continue to reinforce our sales on the back of strong rental and value growth. Finally, on hotels, activity is bottoming out, and we see positive signal of recovery.

On the financial front, Page 5, we had also a very good first half. Value-add, up as by 2%, EPRA NTA by 3% and EPRA earnings by 7.5%.

Let's move on Page 7 and discuss our ambition in terms of carbon reduction. We have decided to do our part in tackling climate change early on more than 10

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