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 2021 Covivio SA Earnings Call Transcript

Feb 23, 2022 / 09:00AM GMT

Release Date Price: €74 (+1.04%)

Transcript

Christophe Kullmann

Covivio - CEO & Director

Welcome to Covivio Full Year 2021 Results. I'm very happy to be with all of you today. Today, we will have a look to the very good 2021 operational performance first with an acceleration on all our activities. Afterwards I will stress the financial results and then see that Covivio continues to improve on the ESG side. Finally, we will see what are our levers to continue this growth trend.

So first, I will do an introduction. Today, Covivio owns an EUR 18 billion portfolio in group share, EUR 27 billion in total. That's an increase of EUR 1 billion compared to 1 year ago. Over the last year, we increased our portfolio value and quality, while reducing our leverage. In 2021, we also reinforced our footprint in Germany through mainly residential activity.

In each of our markets, the situation has strongly improved since last year and offers better visibility to our growth. First, in the office sector, the recovery of the take-up started, and the polarization between central location and secondary location has continued, leading to an

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