{"id":2439,"date":"2019-07-26T07:31:00","date_gmt":"2019-07-26T05:31:00","guid":{"rendered":"https:\/\/coimares-wp.test\/press_release\/approved-results-as-of-june-30-2019\/"},"modified":"2026-04-07T11:15:41","modified_gmt":"2026-04-07T09:15:41","slug":"approved-results-as-of-june-30-2019","status":"publish","type":"press_release","link":"https:\/\/coimares.com\/en\/media\/press-releases\/approved-results-as-of-june-30-2019\/","title":{"rendered":"Solid financial results in H1 2019"},"content":{"rendered":"\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-fb6839\">Solid financial results in H1 2019<\/p>\n\n\n\n<ul class=\"text-paragraph-sm! md:text-paragraph-base! max-w-container-list! !mr-auto !pl-5 wp-block-ensoul-list\" id=\"list-1\" role=\"list\" aria-label=\"List Content\">\n    \n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6989\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Gross rents up by 0.7% year-on-year at Euro 17.8 million<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6a22\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>NOI margin increased by 20 bps year-on-year to 89.5%<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6aa4\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>EBITDA up by 2.9% year-on-year to Euro 11.2 million<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6b27\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>EPRA NAV per share up 1.7% to Euro 11.91<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6b96\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Conservative LTV of 28.3%<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6bff\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Cash balance of more than Euro 100 million allows to pursue acquisitions<\/span>\n<\/li>\n\n<\/ul>\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-fb6e0b\">Solid portfolio performance in H1 2019<\/p>\n\n\n\n<ul class=\"text-paragraph-sm! md:text-paragraph-base! max-w-container-list! !mr-auto !pl-5 wp-block-ensoul-list\" id=\"list-2\" role=\"list\" aria-label=\"List Content\">\n    \n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6ec1\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Portfolio concentrated for 80% in offices, 85% in Milan, 44% in Porta Nuova<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6f46\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Like for like rental growth of 1.1% vs H1 2018<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb6fb9\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>New leases worth Euro 8.1 million per annum signed in 2019 YTD<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7023\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>EPRA occupancy rate increased by 180 bps to 97.7%<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7090\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Positive portfolio revaluation of Euro 7.8 million<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb70f6\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Like for like capital value growth of 0.8%<\/span>\n<\/li>\n\n<\/ul>\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-fb727c\">Vodafone transaction increases portfolio diversification<\/p>\n\n\n\n<ul class=\"text-paragraph-sm! md:text-paragraph-base! max-w-container-list! !mr-auto !pl-5 wp-block-ensoul-list\" id=\"list-3\" role=\"list\" aria-label=\"List Content\">\n    \n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7332\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Korean investor acquired 50% of Vodafone complex<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb73ae\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Premium valuation and 13% IRR achieved<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7429\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Increased diversification of asset and tenant base<\/span>\n<\/li>\n\n<\/ul>\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-fb75cc\">Accenture pre-let validates Corso Como Place (Bonnet) project<\/p>\n\n\n\n<ul class=\"text-paragraph-sm! md:text-paragraph-base! max-w-container-list! !mr-auto !pl-5 wp-block-ensoul-list\" id=\"list-4\" role=\"list\" aria-label=\"List Content\">\n    \n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb767d\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>High rise tower pre-let to Accenture (80% of entire project)<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb76fe\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Pre-let 12 months ahead of delivery at 16% premium to ERV<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb776e\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Completion on track for 2020<\/span>\n<\/li>\n\n<\/ul>\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-fb78f6\">Strong Milan office market in H1 2019 with positive outlook<\/p>\n\n\n\n<ul class=\"text-paragraph-sm! md:text-paragraph-base! max-w-container-list! !mr-auto !pl-5 wp-block-ensoul-list\" id=\"list-5\" role=\"list\" aria-label=\"List Content\">\n    \n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7997\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Dynamic environment for Milan offices with Euro 1.4 billion in transactions<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7a13\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Milan office take up growing by 23% at 240,000 sqm<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7a96\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Record low vacancy at 2.1% for Grade A properties<\/span>\n<\/li>\n\n\n\n<li class=\"wp-block-ensoul-list-element text-paragraph-sm! md:text-paragraph-base! wp-block-ensoul-list-element\" id=\"list-fb7b0e\">\n    <span class=\"float-left -ml-[var(--spacing-dimension-icon-list)] w-dimension-icon-list text-center select-none\" aria-hidden=\"true\">\u2022<\/span>    <span>Positive rental growth outlook, especially for Porta Nuova<\/span>\n<\/li>\n\n<\/ul>\n\n\n\n<p class=\"leading-line-height-paragraph tracking-paragraph font-paragraph max-w-container-paragraph text-left text-paragraph-sm! md:text-paragraph-base!\" id=\"paragraph-fb7c9b\">Manfredi Catella, Founder and CEO of COIMA RES, commented: \u201cWe are pleased with the progress made so far in 2019. The acquisition of a 50% stake in the Vodafone complex by a primary Korean investor has been a key step for COIMA RES allowing to diversify our assets and tenant base and to free up resources for new investments in the Milan office segment. In addition, the prelet with Accenture validates the Corso Como Place project and demonstrates the appeal of next generation office properties in Porta Nuova for tenants.\u201d<\/p>\n\n\n\n<div class=\"button-container flex text-paragraph-base!  wp-block-ensoul-button\" id=\"button-fb7d82\">\n        <a\n        href=\"https:\/\/coimares.com\/app\/uploads\/2026\/05\/H1_Results_presentation.pdf\"\n        target=\"_blank\"\n        role=\"button\"\n            class=\"cursor-pointer group flex justify-between  gap-button items-center font-button text-button! hover:text-button-hover! text-button-font-size rounded-button bg-button-background hover:bg-button-background-hover p-padding-button border-button-width border-button-color [text-decoration:var(--decoration-button)]! hover:[text-decoration:var(--decoration-button-hover)]! transition-color duration-300 ease-in-out ens-btn ens-btn-primary \"\n        data-wpml-string=\"button-label\"\n        data-wpml-string-link=\"true\"\n    >\n                    Download the press release                \n                <\/a>\n    <\/div>","protected":false},"featured_media":2196,"template":"","meta":{"_acf_changed":false,"footnotes":"","immagine_archivio":"2324","main_downloadable":"5127","_ensoul_lang":"en","_ensoul_tr_group":"92391f69-a7f5-40ad-b680-8252b240daf2"},"tipo-comunicato":[71],"press-year":[123],"class_list":["post-2439","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","tipo_comunicato-risultato-finanziario","press_year-123"],"acf":{"immagine_archivio":2324,"main_downloadable":5127},"ensoul_lang":"en","ensoul_translations":{"it":"https:\/\/coimares.com\/it\/media\/comunicati-stampa\/approvati-i-risultati-al-30-giugno-2019\/","en":"https:\/\/coimares.com\/en\/media\/press-releases\/approved-results-as-of-june-30-2019\/"},"ensoul_tr_group":"92391f69-a7f5-40ad-b680-8252b240daf2","_links":{"self":[{"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/press-releases\/2439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/press-releases"}],"about":[{"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/types\/press_release"}],"version-history":[{"count":0,"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/press-releases\/2439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/media\/2196"}],"wp:attachment":[{"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/media?parent=2439"}],"wp:term":[{"taxonomy":"tipo_comunicato","embeddable":true,"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/tipo-comunicato?post=2439"},{"taxonomy":"press_year","embeddable":true,"href":"https:\/\/coimares.com\/wp-json\/wp\/v2\/press-year?post=2439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}