9-month revenue: €2.1 billion (up 10.5%)
Residential: growth in the 3rd quarter, in line with post-lockdown recovery
- New orders1 (9-month): €2,407 million (+13%) for 8,520 units (+9%)
- Notarised sales2 (9-month): €2,612 million (+68%)
- Revenue3 (9-month): €1,651 million (+21%)
Retail: encouraging return to normal potentially suspended
- Retailer sales for the 3rd quarter: +1.2%4
- Net rental income (9-month): €140.8 million (down 7.4%, o/w -6.4% “Covid impact”)
- Good progress in negotiations with retailers
- Once again, only essential businesses can stay open
Business Property: good resumption in business
- New orders (9-month): €138.6 million
- Building sites: good progress, but only partly offsetting delays in the spring
- Delivery of Danone headquarters in Rueil-Malmaison (92) in early October
- Numerous operations under discussion, particularly in the Regions
Consolidated financial indicators: performance in challenging times
- 9-month revenue: €2,099 million (+10.5%), +15.4% in Q3
- Net debt5: €2,429.2 million (-€46.1 million vs. 31/12/2019)
- Strong liquidity: €3,149 million at 30 September 2020, no RCFs6 drawn
Return of lockdown
- Impact on FFO in the latter part of 2020 hard to gauge
- Resumption of growth in FFO in 2021. Precise timing depending on the stabilisation of the health situation
Unaudited data as at 30 September 2020
- New orders net of withdrawals, in euros including VAT when expressed in value. New orders at 100%, with the exception of projects under joint control (Group share of placements, including Woodeum).
- Client’s definitive commitment is legally materialised upon the notarial signature, which regularises a reservation contract (depending on the stage of technical progress, client pays between 30% to 100% of the price at the notarial signature).
- Revenue by percentage of completion (technical and commercial) and external services.
- On a like-for-like basis, in July, August and September on the French scope (+1.0% including Sant Cugat shopping centre in Spain).
- Consolidated bank and bond net debt.
- Revolving credit facilities.