Quarterly financial reporting / First quarter financial report

Press release 

First-quarter results – Regulated information  Paris, May 15, 2024 – 7:30 a.m.

\ Vitura: Activity at end-March 2024 \   

•       Rental income of €10.9 million

•       Leases signed on 10,000 sq.m during the quarter

•       Continuation of repositioning programs

Unaudited figures.  

Rental activity driven by repositioned, sustainable campuses

In first-quarter 2024, operating momentum continued with the completion of three major transactions, representing a total surface area of 10,000 sq.m or 7% of the total surface area of assets in operation^[1]. The transactions were mainly lease renewals and extensions at Europlaza and Arcs de Seine, as well as the arrival of a first-time tenant at Rives de Bercy, less than three months after completion of the Charenton-le-Pont campus. A lease for a fixed six-year term on 5,600 sq.m of space at Rives de Bercy – almost 20% of the property – has been signed with a major French industry player. The new tenant began preparing the property for their move in March, aiming to welcome its teams in the third quarter of 2024.

The occupancy rate of buildings in operation was 82% at March 31, 2024, and 69% including the 31,000 sq.m Rives de Bercy campus, delivered at the end of 2023. 

Key figures

Vitura’s IFRS rental income was €10.9 million for the three months ended March 31, 2024, compared with €12.7 million for the same period in 2023. The positive impact from recently signed leases and index-linked rent increases was offset by the impact of tenants leaving in 2023, particularly at Passy Kennedy and Office Kennedy, which were vacated in view of the project to combine the two buildings within a single 34,000 sq.m complex. The complex, located in Paris' extended CBD with wide views over the Seine, will offer a broad range of upscale amenities – food services, a gym, wellness and social areas, and facilities encouraging low-carbon mobility – and meet the highest environmental standards. Vitura has already obtained a building permit for this ambitious project. The new financing (debt and capital) will cover the works program, the refinancing of the two outstanding loans, and financing costs. The maturity of the €140 million debt for the Passy Kennedy building has been extended to June 30, 2024 so that an agreement can be reached on this new financing. 

The Universal Registration Document comprising the 2023 annual financial report was filed with the French financial markets authority (Autorité des marchés financiers – AMF) on April 29, 2024 and is available on Vitura's website.

Investor Calendar

        -     June 19, 2024: General Shareholders’ Meeting

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About Vitura  

Created in 2006, Vitura is a listed real estate company (“SIIC”) that invests in prime office properties in Paris and Greater Paris. The total value of the portfolio was estimated at €1,307 million at December 31, 2023 (excluding transfer duties).  

Thanks to its strong commitment to sustainable development, the Company's leadership position is recognized by ESG rating agencies. Vitura has held a GRESB (Global Real Estate Sustainability Benchmark) 5-star rating since 2014 and has been ranked world number 1 (Global Sector Leader) in the listed office property companies category four times. It has also received two Gold Awards from the European Public Real Estate Association (EPRA) for the quality and transparency of its financial and non-financial reporting. Vitura is ISO 14001-certified.  

Vitura is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). Visit our website to find out more: www.vitura.fr/en

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