Carmila: 2020 Annual Results
Regulatory News:
In a year characterised by the health crisis and attendant business restrictions, Carmila's (Paris:CARM) core business was resilient and its financial structure solid:
Encouraging performances on business resumption during the different reopening phases
Stable rental base, down just 0.5% versus 2019
Dynamic leasing activity
EPRA Net Tangible Assets of €24.72 per share
Loan-to-value ratio (including transfer taxes) at 37.0%
Recurring earnings of €167.6 million, down 24.7% versus 2019, at €1.20 per share
Marie Cheval, Chairman and Chief Executive Officer of Carmila commented
: "In an unprecedented health context for Carmila and for the entire industry, this has been a very demanding year. The multiple challenges brought about by the crisis have served to underline the particular strengths of Carmila's shopping centres: rooted in local regions, backed by the partnership with Carrefour, engaged with their retailers and popular with their visitors. Thanks to the exceptional commitment of the Carmila teams, leasing activity has remained dynamic, structural projects continued to move forward and the development of growth drivers picked up pace.