- The SOCIMI has reached an average occupancy of 90% in its assets in operation at the end of the third quarter of 2021
- The commercial efforts made, which have led to an increase in income, have been the main driver for the increase in FFO (increase in working capital) to 6,3 M which is an increase of 0,08 euros/share of the FFO compared to the last three months
- The increase in working capital funf has allowed earnings per share to grow to 1.61 euros / share, after an increase of 0.06 euros / share compared to the previous quarter
- Gross rents increased 19% in LIke-for-Like terms, with a notable increase in hotels (+57%) and in shopping centers (+23%)
Madrid, November 30, 2021. SILICIUS Real Estate, a SOCIMI (Spanish REIT) specialized in the management of long-term properties with stable income, closed the third quarter of 2021 with a 90% occupancy of its assets in operation, after registering an improvement of 4% compared to the second quarter of the year. This favorable evolution has occurred after the signing of leasing contracts between July-September in assets such as Velázquez, 123 and 136 (Madrid), Los Madrazo (Madrid), or La Fira´s shopping centers (Tarragona) and Thader (Murcia).
SILICIUS has obtained during the first nine months of the year gross and net income of 19,6 and 14,7 million euros, thanks to this commercial efforts.
The SOCIMI has also reached during the third quarter 2021, a working capital (FFO) of 6,3 million euros. An improvement of 0,08 euros in FFO/share compared to the previous quarter. In this way, the result of the share reached 1,61 euros at the end of the third quarter, after an increase of 0,06 euros compared to the previous period. The fundamental driver for the increase in working capital has been the increase in income thanks to commercial efforts.
Gross rents have grown by 19% until September compared to the same period in 2020. The hotel (+57%) and shopping center (+23%) segments are the ones that provide the highest growth, both in percentage as in absolute values (in terms of Like-for-Like, indicador that compares the amounts achieved by a portfolio of assets in two different periods, without taking into account divestments or investments).
The consolidated net result of the company has reached 58.2 million euros as of September 2021. In turn, the gross debt was 235 million at the end of September, with a Loan to Value of 31.7% . The average interest rate is 1.72%, two tenths more than at the end of the 2020 financial year.
SILICIUS completes the acquisition of a four-star hotel in Mallorca
SILICIUS has acquired the remaining 3.74% of the company that owns a four-star hotel in Cala Domingos (Mallorca). This hotel has 422 bungalows organized on a plot of more than 215,000 m2. In this way, you already control 100% of it. This asset has been fully renovated in 2021 and has recently been rented to Iberostar.
On September 23, 2021, SILICIUS began trading on the BME Growth trading segment of BME MTF Equity, with an initial price of 15,40 euros per share for a total valuation of 556 million euros.
In addition, the company has continued to develop a strategic plan on sustainability, and has achieved the Very Good BREEAM certification at the Thader Shopping Center (Murcia). It has 80% of certified gross leasable area or in the process of certification in the shopping center segment.
As of September 30, SILICIUS has an asset portfolio made up of 45 properties, diversified into up to six categories: 28% in hotels, 25% in shopping centers, 19% in retail, 18% in offices, 9% in offices and 1% in logistics. Due to their location, most of them are concentrated in the Community of Madrid (46%), the Balearic Islands (12%), Catalonia (11%) and the Region of Murcia (11%). The gross value of its assets (Gross Asset Value, GAV) stands at 715.1 million, 10.9% more than at the end of 2020.
After September, SILICIUS has signed the reservation of the residential units available in its Los Madrazo building, in Madrid. In this way, it is expected that before the end of 2021 the leasing contract of these will be formalized, thus reaching 100% occupancy in the residential part of the asset.
