07/25/2022 Finance & results

FREY posted strong growth in its half-year results

A resilient business model with enhanced performance

Financial occupancy rate: 98.0%

H1 2022 collection rate:  97.0%

Group OCR ratio: 8.8%

 

Growing and increasingly international property portfolio

Economic portfolio: €1.6 billion  (+10.6%)

Internationalisation of the portfolio: 28% 

Annualised rents Group share: €89.5 million (+11.0%)

 

Solid recurring profitability, combined with an efficient financial structure

Rental income: €42.2 million (+30.4%)

Profit from recurring operations:  €30.1 million (+30.8%)

Net Income Group Share: €70.9 million (x2.8)

EPRA NTA NAV : €32.5 per share (-0.8% vs. end-2021 and +3.8% vs. 30/06/2021)

LTV ratio (incl. transfer tax): 37.5%

Available liquidity: €234.8 million

 

“FREY has an extremely sound balance sheet in support of the deployment of its growth strategy. A strategy that is based on the development of assets perfectly in line with the aspirations of a more sustainable society. This half-year performance demonstrates once again the relevance of the more sustainable business model of FREY’s open-air shopping centres. FREY has a unique portfolio that combines value creation and recurring profitability.” 

said Antoine Frey, Chairman and Chief Executive Officer of FREY.

 

Read the press release

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