Covivio: stable revenues in Q1

(CercleFinance.com) - Property company Covivio reports stable group share revenues of 154 million euros for the first quarter of 2024, with the impact of disposals offset by continued strong operating performance, particularly in the office business.


On a like-for-like basis, group revenues rose by 7.1% (after +5.2% growth in 2023), a performance driven by marketing for two points, rental reversion for 1.3 points and indexation for 3.4 points.

Covivio adds that its recurring net income target for 2024, expected to be in the region of 440 million euros, will be updated at the time of the half-year results, to take account of its increased exposure to the hotel business and its operating performance.

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