Carmila

First-quarter 2024 Financial Information

Regulatory News:

Marie Cheval, Chair and Chief Executive Officer of Carmila (Paris:CARM) commented: « First quarter results once again show the appeal of Carmila centres for retailers and their customers. In 2024 Carmila continues to roll out its growth strategy, with the acquisition of Galimmo, the pivot of the merchandising mix and transformation projects, notably including new investments in solar energy in Spain. »

First quarter 2024

First quarter 2023

Change

Like-for-like change

 

 

 

 

 

Gross Rental Income (€m)

97.5

95.9

+1.7%

 

Net Rental Income (€m)

87.4

86.4

+1.1%

+4.0%

France

58.1

57.8

+0.4%

 

Spain

23.3

23.0

+1.5%

 

Italy

6.0

5.6

+7.2%

 

Net rental income up +4.0% versus the first quarter of 2023

In the first three months of 2024, net rental income is up +4.0% on a like-for-like basis, driven by the indexation of rents to inflation.

As published, following the sale of three assets in France and four assets in Spain, net rental income is up +1.1% versus the first quarter of 2023.

The collection rate for the first quarter 2024 was 95%, up 1 point versus the first quarter of 2023 at the same date.

Excellent commercial momentum

Leasing activity in the first quarter of 2024 has been very strong, with 210 new leases signed (+19% in terms of number of leases versus the same period in 2023).