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Press release - Société de la Tour Eiffel - 2026 Half-Year Results: Completion of the first delivery cycle, paving the way for the next phase of transformation
PRESS RELEASE Paris, 22 July 2026 – 6:00 p.m. Press release – Société de la Tour Eiffel – 2026 Half-Year Results /// 1 2026 HALF-YEAR RESULTS COMPLETION OF THE FIRST DELIVERY CYCLE, PAVING THE WAY FOR THE NEXT PHASE OF TRANSFORMATION The Board of Directors of Société de la Tour Eiffel, meeting on 22 July 2026, approved the half-year financial statements as at 30 June 2026. The audit procedures for these financial statements have been completed and the corresponding report is currently being issued. "In the first half of 2026, the French real estate market remained strongly polarised: the increasing selectivity of both occupiers and investors continues to widen the gap between assets depending on their location, quality and environmental performance. In this demanding environment, strength and diversification of the portfolio stand out more than ever as decisive difference makers. With the delivery of Syrah in Bobigny and of Rivage in Puteaux, due in September, Société de la Tour Eiffel is bringing to completion the first development cycle launched in 2022, confirming the relevance of its positioning and its long-term asset management. With a strengthened financial structure and the backing of a solid majority shareholder, the company is making the letting of its portfolio its priority, in a rental market that remains challenging, and is embarking on a new phase of transformation structured around a renewed cycle of developments, redevelopments and disposals, with a view to sustainable and responsible value creation," said Christel Zordan, Chief Executive Officer of Société de la Tour Eiffel. The Company continues to implement its roadmap on an adjusted basis… Tender offer for withdrawal followed by a mandatory squeeze-out by the SMABTP Group at a price of €8.20 per share Portfolio value down 2.9% on a like-for-like basis to €1.6bn €11m in developments of assets with sound fundamentals Loan-to-value ratio (LTV) at 24.4% (covenant: < 50%) and EPRA LTV at 31.9% ICR (EBITDA/Financial costs) at 2.5x (covenant: > 2x) €440m in remaining drawdown capacity EPRA NTA of €7.72/share EPRA Topped-up Net Initial Yield: 4.4% … essential to the sustainable transformation of its assets in response to the challenges of the property market Gross rental income of €38.0m, up 4.3% (-1.1% on a like-for-like basis)