Inmobiliaria Colonial SOCIMI SA

COL

Equity

ISIN ES0139140174 / Valor 33300848

BME Bolsas y Mercados Espanoles - Renta Variable (2025-03-13)

EUR 5.26-0.28%

Inmobiliaria Colonial SOCIMI SA
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About company

Inmobiliaria Colonial SOCIMI SA is a prominent real estate company specializing in the ownership, development, and management of high-quality office spaces in prime locations within major European cities, including Barcelona, Madrid, and Paris. As of December 2023, the company's portfolio comprises 55 assets with a total surface area of 1,584,233 square meters and an exceptionally low EPRA vacancy rate of 3%, indicating strong demand for its properties. The company's market capitalization stands at €3.5 billion, with recurring earnings for the fourth quarter of 2023 reported at €172 million. Colonial's investment strategy is heavily focused on the office market, accounting for 97% of its total business, and it emphasizes the importance of energy efficiency and continuous improvement in building operations. With a Group Loan-to-Value (LTV) ratio of 39.9% and investment-grade ratings from S&P and Moody's, Inmobiliaria Colonial SOCIMI SA demonstrates a solid financial foundation and a clear commitment to growth and sustainability in the prime office real estate sector.

Summarized from source with an LLMView SourceSector: Finance

Net Profit Growth

Inmobiliaria Colonial SOCIMI SA reported a significant increase in net profit for the first half of 2024, reaching €86 million. This marks a 125% growth compared to the previous year. The recurring net profit also saw a rise, amounting to €92 million, which is a 6% increase from the previous year. The recurring earnings per share (EPS) grew by 6% to €0.17 per share, with continued operations showing a 10% increase.

Revenue and Rental Income

The company achieved a Gross Rental Income of €192 million in the first half of 2024, reflecting a 5% year-on-year growth. This increase was primarily driven by the Paris portfolio, which saw a 14% rise. The like-for-like income growth was 6%, positioning Inmobiliaria Colonial among the top performers in the sector. The strong rental income growth was supported by higher rents and successful project deliveries.

Contract and Rent Increases

Inmobiliaria Colonial signed contracts for 65,972 square meters during the first half of 2024, with notable rent increases. The release spread was 9%, with Paris experiencing a 22% increase. The signed rents exceeded market rents by 6%, with Paris showing a 10% increase. The company maintained solid occupancy levels at 97%, with the Paris portfolio achieving full occupancy.

Asset Valuation and Disposals

The Gross Asset Value (GAV) of Inmobiliaria Colonial reached €11,267 million, showing a 1% like-for-like increase over six months. The Net Asset Value (NTA) was €5,217 million, equivalent to €9.66 per share. The company completed disposals worth €201 million, achieving an 11% premium on appraisal. These disposals were part of an active portfolio management strategy.

Capital Structure and Liquidity

Inmobiliaria Colonial enhanced its capital structure with a €622 million capital increase, incorporating a long-term reference shareholder. The company's liquidity stood at €2,995 million, covering debt maturities until 2028. The spot financial cost of debt was 1.74%, with all current debt at a fixed rate, reflecting improved financial stability and cost management.

Summarized from source with an LLMView Source

Key figures

3.54%1Y

-33.5%3Y

-39.9%5Y

Performance

25.4%1Y

28.4%3Y

32.6%5Y

Volatility