FdR released its FY17 results. Rental income increased by 3.9% yoy at €927.4m, with a portfolio valued at €21bn (+10% yoy). The company has agreed to sell €1.4bn worth of assets to reduce its exposure to Telecom Italia and the non-core offices in France. FdR also extended its Spanish exposure, with the acquisition for €559m of 17 hotels. Overall, the published numbers were above our expectations.
19 Feb 2018
Focusing on major capital cities
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Focusing on major capital cities
Covivio SA (COV:PAR) | 0 0 2.3% | Mkt Cap: 6,604m
- Published:
19 Feb 2018 -
Author:
Zeineb SAHNOUN -
Pages:
3
FdR released its FY17 results. Rental income increased by 3.9% yoy at €927.4m, with a portfolio valued at €21bn (+10% yoy). The company has agreed to sell €1.4bn worth of assets to reduce its exposure to Telecom Italia and the non-core offices in France. FdR also extended its Spanish exposure, with the acquisition for €559m of 17 hotels. Overall, the published numbers were above our expectations.