Activity at end-September 2024

A dynamic quarter across all businesses

• Hotels: significant increase in variable revenues of +30.5% as reported (+10.4% like-for-like) and strengthening of the hotel management platform
• Offices: 115,370 m² let or pre-let in 2024 (41,290 m² in Q3), taking occupancy to 95.6% (vs. 94.5% at end 2023)
• German residential: +23% reversion on reletting, including +35% in Berlin

+6.8% like-for-like revenue growth

• €509 million in revenues Group share (€779 million at 100%), +6.8% like-for-like (vs. +6.5% in H1 2024) and +4.9% at current scope (vs. +1.8% in H1 2024)
• Offices: sustained like-for-like rental growth of +8.3%
• German residential: acceleration in like-for-like rent increase to +4.2%, of which +4.9% in Berlin
• Hotels: revenue growth accelerates to +7.1% on a like-for-like basis
• Further improvements in occupancy rate, up +20bps over 3 months to 97.3%

Continued progress on disposal program

• €391 million Group share (€618 million at 100%) of new disposal agreements in 2024, with a +3.3% margin
• Nearly €300 million of additional disposals in advanced negotiations

ESG performance: new progress in 2024

• Covivio once again rewarded by GRESB, with a score of 88/100 and maintained “5-star” excellence status
• Three Covivio buildings rewarded the BBCA label in October
• L’Atelier wins ULI Europe Awards for Excellence

2024 guidance confirmed

• 2024 guidance for recurring net income (Adjusted EPRAEarnings) of around €460 million.