Bleecker (BLEE) Q3 23/24 TU earnings summary

Executive summary

• Consolidated rental income for Q3 2023/2024 reached €8.24M, up 14.16% year-over-year, mainly due to new leases at the SARL GABRIELLI property in Paris 15th.

• Total rental income for the first nine months was €23.55M, a 7.05% increase compared to the same period last year.

Financial highlights

• Q3 rental income: €8.24M vs. €7.22M in Q3 last year (+14.16%).

• Paris assets contributed 72.75% of Q3 rental income; Ile de France 27.25%.

• No regional assets remain after the sale of the HEM property earlier in the year.

Outlook and guidance

• Investment focus remains on Parisian office buildings and recent business parks in Ile de France, adapting to macroeconomic and international conditions.

• Strategy includes asset repositioning, environmental certification (BREEAM-IN-USE), and seizing refinancing opportunities.

• Continues to consider divesting mature or non-strategic assets to reinvest in higher-yield or value-creation projects.