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Covivio (COVFP: BBB+): 1H24 Results

REAL ESTATE
Improved Outlook - guiding for EUR 460m vs 440m
  • Move into Hotels - now 20% of portfolio
  • LTV reduction to 40.3% (from 40.8%)
  • €311m disposals at +3% above marks
  • Liquidity covers debt to end '26
  • Revenues +6.5% lfl or +1.8% as reported to €327m at group share level
  • Portfolio value fell -1.3% lfl
  • Occupancy 97.1%

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