Vitura (VTR) Q3 2024 TU earnings summary

Executive summary

• Rental income reached €32.5 million for the first nine months of 2024, up 10.9% year-over-year, driven by new leases and index-linked rent increases.

• 16,000 sq.m of office space let since the start of the year, including 5,000 sq.m in Q3, with high-profile tenants.

• Maintained a 5-star GRESB rating with a score of 92/100, ranking second among listed office property companies in France.

Financial highlights

• IFRS rental income increased by €3.2 million compared to the prior-year period, excluding Passy Kennedy and Office Kennedy buildings.

• 100% of rents and charges collected during the period.

Outlook and guidance

• Continued strong letting activity at Rives de Bercy, with ongoing interest from potential tenants.

• Ongoing energy efficiency initiatives and action plans to achieve carbon neutrality by 2050.