PAREF - Half-year results 2024: Effective management in a difficult context

PAREF announces mixed results for the first half of 2024. Assets under management exceed 3 billion euros, up 2.5% compared to December 31, 2023. However, net rental income is down to 3.9 million euros, a drop of 7% over one year. The debt-to-equity ratio (LTV) stands at 31%.

The management activity on behalf of third parties shows a gross collection of 17 million euros, down 75%. However, management fees increase by 3%. The financial occupancy rate of assets held by PAREF reached 83.2%, reflecting strategic vacancy and tenant rotation.

PAREF is pursuing its environmental strategy with investments in assets of high environmental quality. The Group also launched a new subsidiary, SOLIA Paref, dedicated to Property Management. EPRA's recurring net profit increased to 2 million euros, demonstrating good control of operational costs.