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.