Vivenio Residencial SOCIMI (YVIV) H1 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, increased to €26.1M, up 27.7% year-over-year, driven by higher rental income and new property developments entering operation.

• Net profit attributable to the parent was €37.8M, down from €40.9M in the prior year, mainly due to higher financial expenses and lower revaluation gains.

• The fair value of investment properties rose to €1.72B, reflecting continued portfolio expansion and positive market revaluations.

• A dividend of €4.9M was approved in June 2024, paid from 2023 earnings.

Financial highlights

• Rental income reached €26.1M, up from €20.4M year-over-year.

• Gains from property revaluations totaled €40.2M, compared to €37.3M in the prior year.

• Operating profit was €15.8M, up from €12.8M year-over-year.

• Net financial expenses increased to €9.2M from €4.5M, reflecting higher debt and interest rates.

• Cash and equivalents stood at €7.6M at period end.

Outlook and guidance

• Management expects continued growth in rental income as new developments are completed and leased.

• The company maintains a positive outlook on asset valuations, supported by robust demand in the Spanish residential rental market.