of band Garimmo real estate
Financial information 3 O’clockMarch 1, 2022
- Total rental income of Garimmo SCA (French entity of Garimmo real estate) From 1er Increased 13.1% in the 2022 quarter 11.1 € m
- Sustainable rental activities : 34 lease agreements representing a rent of € 1.5 million
- With the smooth progress of the development program delivery Stagger Project at Elmon Shopping Center (Ildo France), of Shop in With Houssen (Colmar) centers thank youTo Cola Agno And Villers-Semeuse
Paris, 28 April 2022 – Galimmo SCA, a French listed real estate company managed by the Galimmo Real Estate Group, is the operator and owner of residential and commercial spaces co-designed with the audience and today announced a total rental income of 1.er 2022 quarter.
Key number DE GALIMMO SCA To 31 March 2022
((((Real thing Group french Garimmo real estate)
|Millions of euros||First quarter of 2022||First quarter of 2021||evolution||evolution
|Total rental income||11.1||9.8||+ 13.1%||+ 9.0%|
Eric Lavoire, President of Garimmo Service France, Manager Garimmo SCA, Said : “”Garimmo SCA recorded good operational performance in the first quarter of 2022. The Rent income Made progress Sustain, Carried by With marketing success the Restructuring program noticed In the last quarter Similar to the smooth running of business at the center.. After a record year of 2021, rental activities The remaining very dynamic. This all configures New demonstration of‘The charm of our site And our strategy to make them Living and commercial places By engaging everythingPublic leader..
We are fully mobilized and Modernize them, Adapt those uses When Strengthen their activities at area Expanding When Popular with customers.. for Welcome and create new brands the Adaptive format For new players in shopping centers, we We are still important Possibility of Restructuring Existing surfaces, if needed to support hypermarket transformation.So later Shop in The 2021 Pacé will benefit from its completion in 2022. from programof Restructuring-Expansion of Elmon Shopping Center Partial redevelopment Shop in Hossen And we are preparing our commitment lots of New project.
Finally, in 2022 we continue the implementation Of our continuous improvement approach tomorrow ” of Deployment Social initiative, Who Is part of Trademark Garimmo SCA Since its creation and attachment to cement public Everything on our site By strengthening the environmental roadmap.»»
RTotal rental income From 1er Trimester 2022 13% increase
Total rental income from 1er The 2022 quarter increased 13.1% compared to 1.er The 2021 quarter will reach € 11.1 million. This increase is mainly due to the following reasons.
- A € 500,000 increase in guaranteed rent, reflecting a successful marketing and reduced vacancies, and a lesser but positive effect of indexing (€ 200,000).
- Revenues from variable rents and specialty leasing increased by € 300,000, confirming that merchant activity has recovered.
- Delivery of new areas within the Shop’in Pacé, Ermont and Cora Dreux shopping centers from the beginning of 2021 has had a positive effect of € 500,000.
Similarly, the increase in total rental income is 9.0% compared to 1.er The 2021 quarter.
Rental activity Sustain When good pperformance Operation
Leasing activity continued to grow by signing 34 new rental agreements with a total surface area of 4,697 m² and a secured rent of € 1.5 million. These signatures include 8 remarketings and 6 updates representing a 7.4% positive return. In addition, 14 rental properties that have been vacant for over a year, 2 new rental properties as part of a development project, and 4 derogatory lease agreements have been signed.
In the area of beauty and health, Galimmo SCA continues to enhance its offerings under nine brands, including Krys, La Boutique du Coiffeur and Optic 2000.
In addition, Galimmo SCA continues to partner with Action brands that already exist on three sites, signing a new lease in one.er Quarter to install at Corador Shopping Center.
In the catering sector, Galimmo SCA continues to enhance its brand portfolio by first opening the Columbus Café at Shop’in Witty and the McDonald’s restaurant at the Ermont shopping center.
In addition, Spanish mobile accessory brand La Casa de las Carcasas has selected two Galimmo SCA sites to begin development in France.
Finally, as part of the “Committed to tomorrow” program, Galimmo SCA welcomed two new second-hand shops, La Chiffo at the Cora Caen-Rots shopping center and La Ressourcerie at the Cora Corrières shopping center. To date, four Circular Economy players have already opened stores at the Galimmo SCA Shopping Center.
Economic occupancy2 Compared to December 31, 2021 (93.7%), the portfolio as a whole reached 94.1% at the end of March 2022.Economic share of user-friendly shopping sites3 Reaching 96.8%, that of a local mallFour The updated stand is 86.0%.
Recovery rateFive From 1er The 2022 quarter was 86% as of April 22, 2022. At the same time, Galimmo SCA continued throughout the quarter to collect the remaining rent and charges for 2021, with a rate of 89% as of April 22, 2022. (For 85% on February 14th).
Project progress development
Galimmo SCA actively pursued the work and implementation of its expansion and / or reconstruction projects.
- The Cora Haguenau Shopping Center Rebuilding Program will be completed shortly. The surface dedicated to the mall has been expanded by 1,380 m2 to accommodate a total of 21 stores.
- Delivery of new shops created within the Elmon Shopping Center has been staggered since two yearsth The 2021 semester, scheduled to be completed by mid-2021. By creating an additional 3,100m² GLA, the program will bring the total area of the site to 20,400m² (take this opportunity to move the hypermarket and cafeteria to third place). The shopping center offers a complete variety of offers, as evidenced by the opening of Basic Fit, La Boutique du coiffure, Générale d’Optique, Jeff de Bruges and SFR in a year.er Trimester;
- Following the success of 1time Shop’in Houssen restructuring phase offered in 2018, 2th A phase launched last year will allow us to help refurbish the Cora hypermarket, rethink our commercial and service offerings, create a new customer journey, and welcome Fnac, which was released to the public in February. I did. Providing culture, gifts and leisure.All of these 2 storesth Phases are delivered at the end of 1er 2022 semester;
- Finally, work is underway to rebuild the Cora Villers-Semeuse shopping center, creating a medium-sized store with Intersport in mind during the year.er 2022 semester.
This year, Galimmo SCA must enjoy the benefits of continued strong rental activities and the opening of new shops at the Ermont Shopping Center, Shop’in Houssen, Cora Haguenau and Villers-Semeuse Shopping Centers.
While maintaining a strict financial management policy and a controlled development strategy, Galimmo SCA is actively pursuing the development of a priority action plan.
- Market available surfaces and projects.
- Adapt your brand mix to consumption patterns, welcome brands in developing sectors and expand your business to new uses.
- Complete the ongoing redevelopment project and prepare for the implementation of the new program.
- Use the Engaged fortomorrow program to develop and enhance continuous improvement approaches in the area of CSR.
The general meeting of shareholders will be held on May 12, 2022.
Sales and 1 resulter The 2022 semester will be published on July 28, 2022 before it hits the market.
about Garimmo SCA
The Galimmo SCA (ISIN: FR0000030611) real estate company, listed in Section B of Euronext Paris, a French company of the Galimmo Real Estate Group, owns and operates a living and business space co-designed with viewers in France. doing. The portfolio of 52 centers adjacent to the Cora hypermarket in France is worth € 663.3 million, excluding tariffs as of 31 December 2021. GalimmoSCA also holds a 15% stake in the structure that owns seven shopping centers in Galimmo Real. Belgian real estate group.
Galimmo SCA is a equity-controlled partnership managed by Galimmo Services France and is wholly owned by Galimmo Real Estate. Through its subsidiary, the real estate company operates a total of 60 shopping centers adjacent to the Cora hypermarket in Europe, with a portfolio of € 1.1 billion as of December 31, 2021.
For more information about the company
|Contact the investor
The company’s announcements and financial resources are available on its website at www.galimmo-sca.com.
1 Restate the impact of ongoing restructuring and expansion projects
2 Financial occupancy: Market lease value of occupied space / Market lease value of total space. This ratio is calculated excluding areas that are maintained as strategic vacancies as part of implementing the Renovation Extension Program.
Three shopping centers that radiate out as destinations within the catchment area.
The four galleries located in the service complement the hypermarket galleries.
5 Recovery rate: Total rent and charges paid by the tenant / Total rent and charges charged to the tenant.
Galimmo_Press Release Q1 2022