Bleecker (BLEE) H2 23/24 earnings summary
Event summary combining transcript, slides, and related documents.
H2 23/24 earnings summary
13 Jun, 2025Executive summary
Revenue increased slightly to €30.2M for the year ended August 31, 2024, with rental income at €29.96M, up 2.85% year-over-year.
Net loss widened to €41.3M from €26.0M year-over-year, mainly due to asset disposals and higher financial costs.
Major asset sales included properties in HEM and Gennevilliers, reducing the investment property portfolio to €560.1M.
Financial highlights
Operating income before asset disposals was negative at €-7.1M, compared to €-11.9M the previous year.
Net financial debt decreased, with financial liabilities at €314.3M, down from €410.4M.
Net cash position at year-end was €5.1M, down from €6.4M.
Consolidated equity fell to €259.3M from €300.6M.
Outlook and guidance
Focus remains on Parisian office assets and recent activity parks in Ile-de-France, with a high occupancy rate.
Strategy includes asset repositioning, environmental certification, and selective acquisitions.
Plans to consolidate debt and pursue further asset arbitrage for reinvestment in value-creating projects.
Latest events from Bleecker
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