Covivio Reports 5.4% Revenue Growth in Q1 2025

Paris-based real estate company Covivio announced a 5.4% increase in revenues for the first quarter of 2025, marking growth at €162 million, Group share. The growth was mainly driven by strong performance in the hotel and office sectors, with the hotel revenue alone increasing by 13% for properties whose operating companies were acquired late 2024.

The office occupancy rate increased slightly to 95.7%, with significant lettings in city centers, including a notable lease at CB21 in La Défense. Covivio has also been active in asset modernization, notably in Paris and Milan, aiming to boost rent yields.

Covivio's German residential segment showed a strong rental reversion of 24% on re-lettings, supported by a strong market in Berlin. The company also confirms its strong position in terms of ESG commitments, having reduced its carbon trajectory by 28% compared to 2010, and reaffirms its ability to issue EU Green Bonds.

The company maintains its outlook for 2025, expecting €495 million in recurring net results, and proposes a dividend increase to €3.50 per share for 2024.