Quarterly financial information at 31 march 2025
New orders increase in Residential
Enhanced attractiveness in Retail portfolio
Residential: ramp-up of the new generation offer, increase in new orders1
New generation offer in step with the market, particularly for first-time buyers (new orders +53.5%)
Overall increase in new orders: 1,791 units (+6.2%), €472m (+0.6%)
Residential revenue of €331.5 of (-27.5%), as a reflection of the on-going transition:
o €227.5m from previous generation products2, whose contribution is decreasing
o €104.0m from new generation products3, currently in a ramp-up phase
Retail: enhanced attractiveness of the portfolio and new success in station travel retail
Multiple lease agreements signed with a combined value of €8m (occupancy rate 97.1%)
Footfall +3.8%, tenant’s revenue +0.7%, rental income €60.2m (+0.9%)
Bid awarded for operating the shops in 45 stations of Grand Paris Express
Business Property and New businesses
Good progress of on-going projects, particularly in photovoltaics
Financials
Consolidated revenue of 435.3 M€ (-24.8%), mainly affected by previous generation products in Residential
71.7% of revenue aligned with European taxonomy (vs. 55.6% in Q1 2024)
Early redemption of €335m bond
€1.8 billion liquidity at end March 20254, no RCF5 drawn
Annual General Meeting of Thursday, June 5, 2025 (9:30 a.m.) – Dividend terms and schedule
Proposed dividend for 2024: €8.00/share
Two payment options: 100% in cash or 75% in shares and 25% in cash
Option period for partial conversion into shares from June 13 to 24, 2025 inclusive
Ex-dividend date June 11, 20256 – Payment date July 7, 2025
Data as of March 31, 2025, unaudited – Change versus Q1 2024, unless otherwise stated
1New orders net of withdrawals, in euros including VAT when expressed in value. Datas at 100%, except for operations under joint control which are reported in Group sahre
(projects for which building permit has been obtained and the decision to acquire the land has been taken).
2Operations designed during the previous cycle, for which the land was acquired before 2024.
3Affordable, low-carbon, profitable projects, with land acquired from 2024 onwards.
4Cash available in the form of investments (marketable securities, certificates of deposit, credit balances) and drawing rights on bank loans (RCF, overdraft authorizations),
pro forma of the early redemption of the Altareit 2025 bond for €335 million.
5Revolving Credit Facilities.
6First day of trading ex-dividend.
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