Foncière des 6ème et 7ème Arrondissements de Paris (SIIC)First Quarter 2012 Release
First quarter 2012 consolidated turnover amounted to Eur 7.4 million vs Eur 6.5 million as of March 31st, 2011.
Rental incomes increased to Eur 4.5 million (vs Eur 4.0 million as of 1st quarter 2011), mainly explained by the full contribution on a yearly basis of the building located avenue Octave Gréard (3,700sq.m) whose lease started on April 1st, 2011.
Revenues of hotel operations also increased to Eur 2.9 million vs Eur 2.5 million as of March 2011. Hotel business in Paris performed particularly well, despite unfavourable general economic conditions.
During this first quarter, the Company continued the restructuration launched on buildings located rue Saint-Dominique, pre-rented in 2011, in order to deliver them to their future tenants at the end of the year. Refurbishment of the 24 Université building should also be completed during the second of half 2012.
Only the building located 136 bis, rue de Grenelle (2,200sq.m) is currently being marketed.
During February 2012, after the take-over bid initiated by PHRV on Foncière Paris France, Foncière des 6ème et 7ème Arrondissements de Paris took a participation now representing 7.5% of this SIIC's share capital and reached the concert constituted by PHRV and Cofitem-Cofimur. This holding will contribute to additional revenues for Eur 2.1 million as from 2012.
Paris, May 14th, 2012Foncière des 6ème et 7ème Arrondissements de Paris (SIIC)
A limited liability company with share capital of €383,919,825 Paris Trade and Companies Register no. 389 857 707209, rue de l'Université - 75007 PARISPhone: 01 53 70 77 77 - Fax: 01 53 70 77 78ISIN Code: FR0010436329 - Mnemo: SRGwww.fprg.frCommunique 2012-05-14 ukThis announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.The owner of this announcement warrants that:(i) the releases contained herein are protected by copyright and other applicable laws; and(ii) they are solely responsible for the content, accuracy and originality of theinformation contained therein.Source: FONCIERE DES 6ème et 7ème ARRONDISSEMENTS DE PARIS via Thomson Reuters ONEHUG#1612121