ANNUAL RESULTS 2016 : RECURRING NET RESULT (FFO): €192 M (+19%)

The premier real estate developer of French metropolises 

• Property Development
  • New orders (Residential and Offices): €2.9bn (+46%)
  • Residential reservations: 10,011 units (+67%)
  • Blacklog (Residential and Offices): €3,3 bn (+58%)
• Retail REIT
  • Rental income: +4.9%(+1.5% like-for-like)
  • Major deliveries and success confirmed in travel retail
• Consolidated pipeline: potential value of €14.7bn

Strong growth in value and high return 

• Revenue: €1,582m (+29.8%)
• Recurring net result (FFO): €192m (+19.1%) - €13.6/share (+7.2%)
• Diluted Going Concern NAV: €2,398m (+39.5%) - €159.6/share (+16.2%)
• Dividend: €11.5/share (+4.5%) (option for scrip dividend)
• LTV at 37.2% (-730 bps)

2017 outlook confirmed 

• Recurring net results (FFO):
  • €230m (+20%)
  • ≥ €14,5/share (depending on scrip dividend conversion rate)
• Dividend: ≥ €11.5/share