Vitura: First-half 2022 Financial Information

• Portfolio value of €1,568 million, up 0.5%
• Rental income of €26.9 million
• LTV ratio of 52.9%
• EPRA NTA of €827 million or €48.5 per share

PARIS--(BUSINESS WIRE)-- Regulatory News:

Vitura (Paris: VTR):

Rental activity holds firm

Since January 1, 2022, leases have been signed, extended or renewed on 12,000 sq.m of space. Among the seven transactions, Huawei, a world leader in telecoms, chose to extend the non-cancellable term of its lease at the Arcs de Seine campus in Boulogne Billancourt, representing 7% of the portfolio's surface area, until 2026. Letting activity continues, with leases or extensions in the process of being signed on 2,000 sq.m of space with either new or existing tenants. These results reflect the close, trust-based relationships the Company has forged with tenants.

During the first half of 2022, the Company continued investing in its assets, with the completion of three large tree-shaded terraces at the Hanami campus, designed and developed by architects Ilimelgo. At the Rives de Bercy property, Naço was selected to redevelop the building and its gardens. A business center and gym will soon round out the range of amenities offered to users at Arcs de Seine, illustrating once again Vitura's commitment to constantly upgrade the collaborative, user-friendly spaces at its properties.

At June 30, 2022, the portfolio value stood at €1,568 million, up 0.5% compared with the last appraisal value (€1,560 million at December 31, 2021).

First-half 2022 key figures

During the first half of 2022, in an environment marked by significant volatility and a sharp rise in interest rates, Vitura signed a €94 million credit agreement, secured by the Hanami campus, to refinance an existing loan. A credit agreement for €525 million, backed by a portfolio of 131,000 sq.m had already been signed in November 2021, extending the maturity of 75% of the Group's total debt and strengthening its financial structure. With the €66 million loan taken out in October for the acquisition of the Office Kennedy building, consolidated debt stood at €830 million at June 30, 2022, representing a loan-to-value ratio of 52.9%, on a par with June 30, 2021. The coverage ratio is 97% and the average cost of debt was 1.6% at June 30, 2022 (up 20 bps compared with June 30, 2021).

Rental income amounted to €26.9 million compared with €30.1 million for first-half 2021.

EPRA earnings totaled €8.8 million in first-half 2022, compared with €18.9 million for the prior-year period. The €8 million decrease (excluding one-off indemnities received in 2021) is mainly due to the departure of Canal+ from the Arcs de Seine building in October 2021, as well as the departure of Crédit Foncier de France from half of the office space at Rives de Bercy in July 2021. The acquisition of the Office Kennedy building contributed €2.3 million to rental income and €1.1 million euros to EPRA earnings for the first half of 2022. The full impact of leases signed during the period on Vitura’s earnings will be felt in the second half of 2022.

The portfolio occupancy rate stood at 75.4% at June 30, 2022, compared with 78.5% at December 31, 2021.

EPRA NTA was stable at €827 million or €48.5 per share at end-June 2022, compared with €822 million or €48.9 per share at December 31, 2021.

Thanks to the financial solidity of its tenants, the Group collected 100% of rents and charges for first-half 2022.

Portfolio energy efficiency

In order to combat global warming, Vitura is proactively working to reduce the carbon intensity of its buildings and manage resources more efficiently. The work done so far on collecting and monitoring ESG data has enabled it to reduce energy consumption at its properties by 33% since 2013, putting it well on its way to achieving its target of a 40% reduction by 2030.

Going even further, energy audits have recently been performed on each of the buildings in the portfolio to identify sources of energy savings and ways to optimize technical facilities.

Awareness campaigns are organized throughout the year to educate tenants on the main ESG challenges, with the aim of working hand in hand to reduce energy consumption in the different office units.

Vitura has also acquired the necessary resources and tools to satisfy current CSR regulations.

Dividend payout

On May 25, 2022, the Company paid a dividend of €1.25 per share, approved by shareholders at the General Shareholder's Meeting held on May 18, 2022.

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About Vitura

Created in 2006, Vitura is a listed real estate company (“SIIC”) that invests in prime office properties in Paris and Greater Paris. The total value of the portfolio was estimated at €1,568 million at June 30, 2022 (excluding transfer duties).

Thanks to its strong commitment to sustainable development, Vitura was named Global Sector Leader in the most recent Global Real Estate Sustainability Benchmark’s (GRESB) listed office property companies category and received two Gold Awards from the European Public Real Estate Association (EPRA) for the quality and transparency of its financial and non-financial reporting.

Vitura is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €506 million at July 27, 2022.

Visit our website to find out more: www.vitura.fr

APPENDICES

IFRS Income Statement (consolidated)

IFRS Balance Sheet (consolidated)

Reconciliation of Alternative Performance Measures (APM)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220727006057/en/

For more information:
Investor Relations
Charlotte de Laroche
+33 1 42 25 76 38
[email protected]

Media relations
Aliénor Miens/Marion Bouchut
+33 6 34 45 34 09
[email protected]

Source: VITURA

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