Covivio has published recurring net income (RNR) for 2023 up 1% to 435 million euros (4.47 euros per share), thus exceeding its initial target of 410 million, and net asset value down 21% year-on-year to 84.1 euros per share.

In a real-estate environment impacted by rising interest rates, Covivio adapted quickly, notably via 720 million euros," notes CEO Christophe Kullmann, who also points to a 6.4% increase in revenues on a like-for-like basis.

The real estate company is proposing a dividend of 3.30 euros per share for 2023, with the option of payment in shares, and is targeting RNR of around 440 million euros for 2024, showing slight growth while continuing to reduce debt.

Copyright (c) 2024 CercleFinance.com. All rights reserved.