CBo Territoria (CBOT) Trading Update summary

Revenue and activity highlights

• Consolidated revenue for 2024 was €66.6 million, down 21.5% from €84.9 million in 2023.

• Gross rental revenue (excluding affiliates) rose 4.2% to €26.6 million, driven by commercial property investment.

• Property development revenue fell 33.8% to €38.5 million, mainly due to the end of the Pinel scheme and a halt in new retail programs.

• Commercial rental income (including affiliates) grew 7.7%, meeting the target of over 6% growth.

• Mayotte assets sustained only minor cyclone damage, with operations resuming quickly.

Property investment performance

• Commercial property rental revenue increased 8.8% to €24.8 million.

• Residential rental revenue declined 62.4% to €0.7 million due to asset disposals.

• Agricultural and miscellaneous rental revenue rose 13.7% to €1.2 million.

• Total gross rental revenue (including affiliates) reached €30.3 million, up 3.7%.

• Growth was supported by new asset deliveries and index-linking effects.

Property development trends

• Residential property development revenue dropped 29.8% to €37.9 million.

• Block sales remained stable at €22.7 million, with 76 lots sold in a key program.

• Individual client sales fell sharply by 68.1% to €6.1 million.

• Sales of building plots decreased 22% to €9.1 million, with longer lead times for buyers.

• Commercial property development revenue was minimal at €0.6 million.