Colonial earns 147 million euros until September, 15% more

Rental income was 293 million, 6% higher than a year ago

BARCELONA, 14 ()

The Colonial Socimi closed the first nine months of the year with a recurring net profit of 147 million euros, as reported this Thursday to the National Securities Market Commission (CNMV).

The net result attributable to the group was 156 million, compared to the losses of 298.5 million a year ago, when the accounts were impacted by the reduction of 525 million in the value of the company’s portfolio.

Colonial’s rental income was 293 million, an increase of 6% ‘like-for-like’, that is, if the same perimeter of the portfolio is taken into account, and recurring Ebitda was 241.8 million, 3.7% more.

In a press conference this Thursday, the president of the company, Juan José Brugera, celebrated the accounts, which he said “are very good”, at the same time that the CEO, Pere Viñolas, pointed out that the results ” are very in line” with those of the first part of the year and the last few years, and he has defined them as “very solid and very positive”.

He has assured that the growth experienced is “very healthy” and that it is the company that grows the most in Europe among its peers.

Following these results, Viñolas explained that the company plans to close the year with a profit per share higher than forecasts, which were expected to be between 30 and 32 cents per share.

“INTENSE” COMMERCIAL ACTIVITY

Viñolas has highlighted that commercial activity in the third quarter has been “very intense”, since, despite being the summer months, rentals were closed on 47,000 square meters, so throughout the year, Colonial has rented 113,000 square meters.

The company has an average occupancy of 96%, with 100% rented in Paris (France), 96% in Madrid and close to 80% in Barcelona, ​​where the percentage is lower due to the need to “digest” demand. the new offer concentrated in 22@, explained Viñolas.

Rent growth was 5% ‘like-for-like’ when compared to December 31, 2023, “with positive behavior in all markets.”

On the other hand, Colonial closed the third quarter with a net financial debt of 4,414 million, 450 million less, after the entry of Criteria into its shareholding, and with a fixed interest rate of 1.72%.

The group’s liquidity has increased by 541 million, reaching 3,443 million between cash and undrawn credit lines.

CHANGE OF HEADQUARTERS

Asked about a possible change of headquarters to Paris if the Government approves the change in legislation on the SOCIMI regime, Brugera and Viñolas referred to the statement made by the company this Wednesday.

“Everything has been said. We can only wait for the resolution of the Congressional Finance Commission. Based on this we will analyze the situation and see what we will do,” said Brugera.

When asked if the headquarters could return to Barcelona, ​​Viñolas assured that “nothing has been raised.”