Cegereal Rental Activity Holds Firm

PARIS--()--Regulatory News:

Cegereal (Paris:CGR):

In millions of euros

Q1 2020

Q1 2019

Change

IFRS rental income

16.0

15.8

+1.3%

Occupancy rate

96.9%

96.6%

+0.3 pts

Despite the current health crisis, Cegereal recorded a 1.3% increase in rental income in first‑quarter 2020 compared with the same period in 2019. At March 31, 2020, Cegereal’s occupancy rate stood at 96.9%, up 0.3 points compared with the first quarter of 2019. As an office focused REIT with a strong international tenant base, Cegereal has currently collected approximately 90% of the rent and service charges due for the second quarter of 2020.

Supporting tenants as lockdown measures are eased

The new tenant arrivals announced at the end of 2019 for the first half of 2020, including the extension of KPMG’s lease, are going ahead as initially planned and all work has been carried out in keeping with health and safety measures. In addition, the 5,700 sq.m. vacated by Sagem in the Arcs de Seine complex on April 1, 2020 are already being renovated with delivery scheduled in the coming months.

Cegereal’s teams are taking every step to support tenants as lockdown restrictions are gradually eased. Cegereal remains attentive to their needs and is working together with all its partners to implement the appropriate measures and services as tenants’ activities resume in the properties of its portfolio. The aim is to ensure that current and future tenants can welcome their employees back to the office under the best possible conditions in full compliance with required safety measures (plexiglass barriers, parking availability, cleaning, distancing, etc.).

Moderation of the dividend payout

Due to the current health crisis and in order to maintain its operational and financial agility in this uncertain time, the Board of Directors will ask shareholders at the upcoming General Shareholders' Meeting to approve an adjusted dividend of €0.75 per share, compared with the €2.30 initially proposed. The proposed dividend is sufficient to meet the Group's distribution obligations for the 2019 financial year as per the SIIC regime.

Investor Calendar

June 16, 2020           General Shareholders' Meeting
June 23, 2020           Dividend payment
July 29, 2020             First-half 2020 results

About Cegereal

Created in 2006, Cegereal is a listed property company that invests in prime office properties in Greater Paris. The total value of the portfolio is estimated at €1,464 million at December 31, 2019 (excluding transfer duties).

Thanks to its strong commitment to environmental, social and governance issues, Cegereal achieved first place among listed companies in Europe in the 2019 Global Real Estate Sustainability Benchmark (GRESB) ranking. Its entire portfolio has achieved NF HQETM Exploitation and BREEAM In-Use International certification.

Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €490 million at May 14, 2020.

www.cegereal.com

Contacts

Media Relations
Aliénor Miens/Alexandre Dechaux
+33 7 62 72 71 15
cegereal@citigatedewerogerson.com

Investor Relations
Charlotte de Laroche
+33 1 42 25 76 38
info@cegereal.com

Contacts

Media Relations
Aliénor Miens/Alexandre Dechaux
+33 7 62 72 71 15
cegereal@citigatedewerogerson.com

Investor Relations
Charlotte de Laroche
+33 1 42 25 76 38
info@cegereal.com