2021 Third Quarter revenues

Residential: strong growth in supply allows Altarea to take full advantage of the demand from Individuals

• Growth in supply:
  • Accelerating pace of projects coming to market
  • €1,875 million (+4.8% vs. June 2021 and +20% vs. December 2020)

• New orders from Individuals: 
  • Strong momentum in rental investment
  • €1,194 million (+20%) and 4,090 units (+32%)

• New orders from Institutionals:
  • Institutional sales back to normal
  • €681 million (-52%) and 2,953 units (-46%)
• Revenue¹: 
  • Targeted increases in sale prices and margins
  • €1,668.2 million (+1.0% vs. 2020 and +22% vs. 2019)

Retail: indicators moving in right direction in an environment of confidence restoration

• Retailer sales:  
  • Excellent third quarter 2021 despite the health passport
  • Return to pre-crisis levels (excluding restaurants and leisure activities)

• Decline in vacancies:               
  • Strong rental demand from retailers
  • Vacancies down to 3.3% (-0.3 pts vs. June and -0.8 pts vs. December 2020)

• Back to normal:                        
  • Collection rate of 91%² in Q3
  • Rental income of €137.3 million (-2.5%)

• Gare Montparnasse:    
  • Iconic delivery on budget and on schedule
  • Demonstration of Altarea’s ability to deliver large and complex projects

Business property: the development in Regions is taking over the major office projects in the Paris Region

• New orders (9 months):   
  • Dynamic demand in the Regions, €206.6 million (+49%), including 2 off-plan sales in Bordeaux (office) and Béziers (logistics)

• Revenue¹:                                  
  • Smaller developments projects with higher margins
  • €232.9 million (-18.3%), positive trend in Regions/Paris mix          

ESG indicators 

• Altarea ranked number 1 by the Challenges-Statista as “2021 Climate Champions” in France
• Altarea confirms GRESB “Green Star 5*” status and become number 2 in its category in Europe
• €350 million green loan signed for CAP3000 

Consolidated financial indicators 

• 9-month revenue:                    
  • €2,060 million (-1.9% vs. 2020; +8.5% vs. 2019) 

• Net debt³:                               
  • €2,405 million (+€124m vs. 30 June 2021)

• Guidance: FFO⁴ Group Share growth of around 10% in 2021, subject to the health situation not worsening

Good progress on Primonial group acquisition

• €800 million syndicated bank loan agreed, several conditions precedent lifted

Unaudited data as of 30 September 2021

1. Revenue by % of completion and external services.

2. Rents and charges collected compared to rents and charges invoiced.

3. Consolidated bank and bond net debt.

4. Funds From Operations (FFO): net profit excluding changes in value, calculated expenses, transaction fees and changes in deferred tax. Group share. As a reminder, FFO reported for 2020 was €230.3 million.