Immorente Invest Maintains its Financial Stability

Immorente Invest continues to maintain its solid position in the real estate market as a property company owning factories, offices, and logistics assets.

During the first half of the year, the company maintained its financial stability, with sales of 30.1 million dirhams (MDH) and earnings before interest and tax (FFO) of 22.3 MDH, in line with the results for the first half of 2022. The company has also honored its commitments to shareholders by paying two quarterly returns of MAD 3 per share in H1-2023, i.e. MAD 1 per share on April 28 and MAD 2 per share on June 26.

Immorente Invest’s portfolio is distinguished by its diversity of assets and the quality of its tenants, which include names such as Faurecia, BUTEC, Aptiv, FRI (McDonald’s master franchisor), Huawei and the Société Générale Group, among others. This diversification contributes to the stability of its revenues.

In addition, Immorente Invest plans to pursue its investment strategy by acquiring a factory worth 110 MDH in the second half of 2023. In addition, the transition to consolidated IFRS accounting standards enhances the operator’s transparency and compliance, which is positive for investors.

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Immorente Invest: Promising outlook for the real estate sector

Although the occupancy rate has fallen from 92% to 90.2% compared with the end of 2022, the company expects this rate to improve by the end of 2023 thanks to the marketing of certain office assets and the finalization of its investment, scheduled for this second half of the year. The company also anticipates an increase in sales for the current year as a whole.

This growth is expected to be driven by the expansion of the asset base thanks to the investment planned during the year and the marketing of certain office assets. As regards the returns to be paid to shareholders in 2023, Immorente Invest is committed to paying a total of DH5 per share, spread over four installments throughout the year. This will be done according to a precise schedule, namely 1 DH per share on April 28, 2 DH on June 26, 1 DH on September 26, and finally 1 DH on December 21.

In conclusion, Immorente Invest continues to demonstrate its stability and ability to generate reliable income for its shareholders, by paying them the rents received. Historically, for a share purchased at around 100 DH, Immorente has paid 5.5 to 6.5 DH per year.

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(Featured image by fietzfotos via Pixabay)

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First published in LES ECO.ma. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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