Free Trial

Colonial COLSM: 1Q24 Results

REAL ESTATE

Inmobiliaria Colonial (COLSM: Baa2 pos / BBB+) 1Q24 Results



S&P had already confirmed Colonial on Friday, so we clearly weren’t going to see anything negative. EPRA Earnings were EUR 47m and EBITDA EUR 76.8m was up +8% YoY.

  • Revenues EUR 96m +6% (+18% in Paris)
  • Occupancy 97.5% (100% in Paris)
  • Average cost of debt 1.74% with future cost <2.5% through 2026.

Prime Paris locations are paying off for Colonial – see Macron’s multi-billion announcements yesterday. Disposal program is earning 11% premium vs appraisal price. Colonial has already issued 2029 bonds to refinance the Oct-24 maturity.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.