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Cofinimmo (COFBBB: BBB) 1H24 Results

REAL ESTATE
  • Stable. Good ESG scores.
  • Now officially in Healthcare property sector according to EPRA classification as 75% of activities are such.
  • Net Result 1187.M +3.5%
  • Debt/Assets 45.2% small uptick from 43.1% Q1
  • Occupancy 98.6%
  • Gross rental revenues +3% (+2.1% like-for-like)
  • Long lease life of 13years by weighted average
  • Extremely low cost of debt at 1.4% - last issued Jan 22
  • Bonds have rallied significantly in June as with the rest of the sector. Still +45bps wide to BBB Fins and +55 vs BBB Corps generic levels.

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