Paris, 20 April 2016, 6:00 pm
Quarterly information as at 31 March 2016 RESUMED GROWTH IN RENTAL INCOME1) GROSS RENTAL INCOME CHANGE QUARTER ON QUARTER
(€m) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016
Gross rental income 10.4 10.2 10.3 8.0 8.6
Quarterly change -0.5% -1.8% 0.6% -22.2% 6.9%
At the first quarter of 2016, gross rental income
recorded a rise of 6.9% on the previous quarter,
mainly as a result of the December acquisition of the
Chaville office building (92).
As compared with the same period of last year and on
a like-for-like basis, gross rental income is down
1.4 % for the first three months of 2016 due to the
departure of the tenant of the warehouse situated in
Miramas, negotiated as part of the sale made in April.
In considering the impact of the sale of the logistic
portfolio (€6.6m in rental income on a full year basis)
closed in the second half of 2015, gross rental
income is down by 17.8 %.

2) ACTIVITY

In the first quarter, 10 new leases were signed and 7
were renewed, contributing to the total annual rent by
€0.5m and €0.2m. Furthermore, 6 tenants notified
the company of their wish to end their leases, for a
total of €0.1m annually.
The portfolio turnover rate, for renewal and
improvement of the portfolio, continued with the
disposal of an office building in Aix-en-Provence at a
price that equates to its fair value at end 2015.

3) FINANCIAL SITUATION

The financial structure has not significantly changed
compared to 31 December 2015. There was no
financing or refinancing during the quarter.

4) OUTLOOK

The Group continues its strategy to renew and
rationalise the portfolio under the scope of the
balanced development between Paris Métropole and
the six main regional urban areas (Bordeaux, Lille,
Lyons, Marseilles, Nantes and Toulouse), in a highlycompetitive
context. Negotiations are at an advanced
stage for 3 projects, of which 2 off-plan sales
agreements, with a view to restoring the volume of
rents of previous years while maintaining the LTV at a
prudent level.
Banimmo continues to reorganise its portfolio in
Belgium by selling off mature assets and is involved
in the financial reorganisation currently underway in
the company Urbanove to ensure the pursuit of its
shopping centre projects in Verviers and Namur; it
has confirmed its position in France, in city centre
shopping malls.
The Group confirms its intention to offer a dividend of
€1 per share for the 2016 financial year.

5) CALENDAR

_ 28 April 2016: Annual General Meeting
_ 06 May 2015: Dividend payment (€1.0*)
_ 28 July 2016: 2016 half-year revenues and
earnings
_ 19 October 2016: Third quarter revenues
(*) Will be submitted to the vote of the General Meeting of 28 April 2016 Quarterly revenues - Q1 2016 Page 1 of 2CONSOLIDATED REVENUE

(THREE MONTHS)

(€m) Q1 2015 Q1 2016 Change
Gross rental income 10.2 8.6 -17.8%

ABOUT

AFFINE

GROUP

Affine is a real estate company specialised in commercial property. At the end of 2015, it directly owned 47 buildings with a
total value of €514m, excluding transfer taxes, for a total floor area of 372,800 sqm. The firm owns office properties (62%),
retail properties (24%) and warehouses and industrial premises (14%). Its assets are distributed more or less equally between
Ile-de France and the other French regions.
Affine is also the major shareholder (49.5%) of Banimmo, a Belgian property repositioning company with operations in
Belgium and France. At the end of 2015, Banimmo had total assets of 18 office and commercial buildings, with a value of
€350m (transfer taxes included).
Total Group assets are €897m (including transfer taxes).
In 2003, Affine opted for French real estate investment trust (SIIC) status. Affine shares are listed on NYSE Euronext Paris
(ticker: IML FP/BTTP.PA; ISIN code: FR0000036105) and admitted to the deferred settlement system (long only). It is included
in the CAC Mid&Small, SIIC IEIF and EPRA indexes. Banimmo is also listed on NYSE Euronext.
To find out more visit: www.affine.fr. Follow our news feed on: https://twitter.com/Groupe_Affine

CONTACT

INVESTOR

RELATIONS

Frank Lutz
+33 (0)1 44 90 43 53 - frank.lutz@affine.fr

PRESS

RELATIONS

RPpublics - Alexandra Richert
+33 (0)1 45 23 55 01 - alexandra.richert@rppublics.com Quarterly revenues - Q1 2016 Page 2 of 2

Affine RE SA issued this content on 20 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 April 2016 20:21:14 UTC