Colonial increases dividends and recorded more activity than pre-pandemic

shareholders colonial At the general meeting this Tuesday, they approved a dividend payout of 0.24 euros per share, 10% more, which means a maximum total dividend of 129.5 million euros. Pere VinolasDuring the meeting, Colonial’s CEO underlined the “solidity of foundations” and the appropriate strategic plan based on a commitment to real estate assets in city centres. The first months of the year for Colonial confirm the positive trend of the results at the end of 2021 and start the year with new acquisitions while maintaining the investment character of the company in 2021. 2021 joins a new 500m euro investment in the first months of the year to increase participation in its French subsidiary SFL. Its goal is the acquisition of 91 Pasteur buildings measuring approximately 40,000 square meters in central Paris and the acquisition of the Danone Group’s Barcelona headquarters, which was already closed in 2021.

Colony Group a social o Real estate company listed on the Spanish stock exchange, leader in the ‘prime’ office market in Europe, operating in the main business areas of Barcelona, ​​Madrid and Paris with a prime office portfolio of more than one million square meters and management of more than 12,400 million Euros the value of the underlying assets. Regarding the results in this first three months of 2022, the company delivered a net result and profit with double-digit growth compared to last year and commitment levels of 51,000 square meters. Much higher than the pre-COVID numbers. Colonial closed the first quarter of the year with a net result of 28 million euros, a recurring net result of 36 million euros, a rental income of 82 million euros and an EBITDA of 58 million euros.

According to the colonial administration, future prospects are positive. In 2022, more than 49,000 square meters will be operational in Madrid and Paris, which will have a significant impact on the revenue of the Colonial Group (Velázquez 86d, Miguel Angel 23 and Biome). Colonial Group has several growth levers that will allow it to increase its revenues to 510 million euros. Specifically, 7 growth levers can be identified: increase in Colonial’s participation in the SFL, potential for return in the contract portfolio, new project portfolio and renewal program, acquisition program, capturing high indexation levels and, finally, acceleration rent increase for Class A assets in CBD areas.

Last year, the real estate company achieved the second highest commercial figure in its history (+170,000 square meters of new contracts signed, which means a 75% increase in commitments and an economic 114% increase over the previous year), growth in the value of its assets (up to 12,436 million euros, up to +6% for peers) and improved financing with longer terms and lower costs. Liquidity amounted to 2,400 million euros. Revenues in comparable terms increased 2% to €314 million, a recurring result of 128 million and the Group’s final net profit of 474 million.

Colonial delivered 2 major projects in the CBD of Paris and Barcelona in 2021, guaranteeing long-term rentals of 11 million euros with senior customers. Diagonal pre-leased 100% of Diagonal 525 (5,700 square meters) to Naturgy in Barcelona and all 9,000 square meters to Goldman Sachs in Paris. Regarding the remaining projects, Colonial closed more than €79 million of additional leases included in its recurring income statement in 2021 and made significant progress in the lease renewal program, doubling rents in 6 months to 17 million. Euro updated rentals.

Source: Informacion


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