Carmila SAS

CARM

Equity

ISIN FR0010828137 / Valor 10776310

Euronext - Euronext Paris (2024-12-24)

EUR 15.76-0.13%

Carmila SAS
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About company

Carmila SAS is the third largest listed owner of commercial property in continental Europe, established by Carrefour and institutional investors to enhance the value of shopping centers adjacent to Carrefour hypermarkets in France, Spain, and Italy. With a portfolio of 202 shopping centers, Carmila focuses on sustainable development and environmental excellence to support local economies and urban development priorities. The company acts as an incubator for new concepts and formats, offering tenants an omnichannel service platform to improve customer engagement. Additionally, Carmila is investing in digital infrastructure and new retail concepts to drive future growth and play a significant role in the transformation of the retail sector and local regions.

Summarized from source with an LLMView SourceSector: Finance

Leasing Activity

Carmila SAS saw strong momentum in its leasing activity in 2023, with the Company signing 826 leases for a total minimum guaranteed rent (MGR) of €44.1 million, which is up 4.4% year on year. This represents 12.2% of the rental base. The reversion was a positive 2.4% for the year as a whole.

Geographical Breakdown

In France, Carmila SAS signed 217 leases for leased vacant premises and 142 renewals, with a reversion of 3.2%. In Spain, 152 leases were signed for vacant premises and 255 renewals, with a reversion of 2.0%. Italy saw 23 leases for vacant premises and 37 renewals, with no reversion. Overall, the total number of leases signed across all regions was 826, with an annual MGR of €44.1 million.

Year-on-Year Comparison

Comparing the figures from 31 December 2023 to 31 December 2022, Carmila SAS saw an increase in the total number of leases and annual MGR. In 2023, the total number of leases was 826 with an annual MGR of €44.1 million, compared to 854 leases and an annual MGR of €42.3 million in 2022.

Merchandise Mix Strategy

Carmila SAS's leasing activity reflects its proactive strategy in terms of its merchandise mix. This includes more than 80 new retailers opening stores at Carmila centres for the first time, consolidation of the healthcare offering, development of discount chains, renewal of the food and restaurant offering, and expansion of the sports segment.

Tenant Administration Proceedings

As of 31 December 2023, Carmila SAS's tenants affected by administration proceedings in France represented 2.9% of the rental base, with 0.4% in court-ordered liquidation. This indicates a relatively low impact on the overall rental base from tenants undergoing financial difficulties.

Summarized from source with an LLMView Source

Key figures

%1Y

14.4%3Y

-1.17%5Y

Performance

21.5%1Y

30.1%3Y

39.3%5Y

Volatility