ALTAREA Reports Growth in Q1 2024 with Strong Revenue and Project Advancements

ALTAREA released its Q1 2024 earnings, showing a revenue increase of 4.0% to €578.9 million. Retail sector performance was strong, with a 97.2% occupancy rate and a 9.2% increase in rental income when adjusted for constant scope. The residential sector saw a 10% increase in new orders by volume, although the value slightly dipped by 2%. The business property sector made notable progress, including the approval of a significant office project in Paris-Montparnasse.

ALTAREA's financial position remains robust with €2.1 billion in liquidity and no drawn revolving credit facilities as of March 31, 2024. The company continues to align with European taxonomy standards, achieving a 55.6% alignment rate in this quarter. Furthermore, ALTAREA has declared a dividend of €8.00 per share for the FY 2023, offering shareholders a cash or partial share payment option. The dividend's key dates include an ex-dividend date on June 11, 2024, and a payment date on July 5, 2024.

The company is set to provide a detailed update during the half-year results announcement on July 30, 2024, after market close. This report underlines ALTAREA's confidence in maintaining its growth trajectory in the upcoming quarters, backed by its strategic advancements and solid financial foundation.