Vitura: 2024 half-year results and strategic asset disposal

Vitura reported rental income of €21.7 million for the first half of 2024, with an asset value of €1.3 billion and an occupancy rate of 67%. The EPRA NTA amounts to 465 million euros, or 27.3 euros per share.

The company has marketed 11,000 m², including 5,600 m² for the Rives de Bercy campus after its renovations. At the beginning of July, Vitura sold a majority stake in Passy Kennedy and Office Kennedy for €14 million, resulting in an accounting loss of €139 million and impacting the EPRA NTA of -€8.2/share.

Rental income is down compared to 2023, but increases by 12.5% excluding the assets sold. The EPRA result is negative at -7.8 million euros. The valuation of the portfolio is 1,266 million euros, affected by the increase in capitalization rates. The group's net debt amounts to 809 million euros with an average debt ratio of 63.9%.