2023-06-15 18:19:14
The colonial real estate plans to carry out a second wave of divestments in the second part of the year after having concluded a first one for a value of 500 million euros, while it will distribute a dividend for a maximum amount of 134.9 million charged to the results of 2022. The General Shareholders’ Meeting of the company approved this Thursday the dividend distribution proposal made by the board of directors, which will be 0.25 euros per sharewhich is 5% more than the previous year.
At a press conference after the meeting, the CEO of Colonial, Pere Viñolas, assured that the company “is evaluating extending” the divestment program in non-strategic assets starting in the second half of this year “since the first plan It’s gone very well.” At the moment, the Catalan real estate company, which has a listed real estate investment company (socimi) regime, has not identified which assets could enter this second plan or how large they would be. “Nor have we determined how much it would be,” said Viñolas, who believes that the investment market will be ready in this second part of the year, while it was “closed” in the first.
The company, which is dedicated to the rental of office buildings in Paris, Madrid and Barcelonahas already executed a divestment plan in non-strategic properties for a value of more than 500 million euros, of which 84 million have been carried out in 2022. Among the assets in which it has divested, land or assets with high levels of vacancy or located in secondary locations.
Regarding the dividend to be distributed, viñolas, who has appeared together with the president of the group, Juan José Brugera, has highlighted that this is possible due to “the solidity of the company’s fundamentals and the successful execution of the strategic plan” and has ensured that the group is committed “to its sustainable growth “. Among the most outstanding milestones of the 2022 financial year, they have mentioned the record contracting volume, of just over 177,000 m2, which is the second highest in the company’s history. The occupation of the group’s office buildings is 97%, with Paris in the lead, with 99.6%; followed by Madrid, with 97%; and Barcelona, with 84%.
devaluations
The board has also given its approval to the accounts for 2022, the year in which the firm recorded income of 354 million euros from rentals, 13% more than the previous year, although net profit fell 98% to 8 million per the accounting impact of the devaluation of part of its real estate assets.
The two managers have emphasized “financial soundness” with a net debt that was reduced by 421 million euros to 4,934 million and a liquidity of 2,645 million, while the group has a “high level of coverage” with respect to the rise in interest rates.
Related news
In the first quarter of this year, the company achieved rental income of 90 million euros, 11% more than in the same period of 2022, and a net result attributable to the group of 28 million, the same as a year ago .
On the other hand, the Board has approved the appointment of Manuel Puig as the new proprietary director after the luxury and perfume firm Puig has increased its stake in Colonial from 5.38% to 7.38% during 2022, becoming the third shareholder after QIA (19%) and Finaccess (14, 8%). Puig, who entered the capital of Colonial in 2017, thus passes ahead of Grupo Santo Domingo (7.1%). The shareholders have also approved the appointment of Miriam González Amézqueta as the new independent director of the company, and the ratification of Begoña Orgambide, Silvia Mónica Alonso-Castrillo, Ana Peralta and Ana Bolado as directors.
#Colonial #contemplates #batch #divestments #part #year