Third quarter 2013 revenues

PR Newswire/Les Echos/ Paris, November 6, 2013, 5:45pm Press release Q3 2013 revenue and business activity Consolidated revenue up 4.4% to EUR1.1388 billion as of September 30, 2013 Retail * Shopping centers: Stable performance of tenants' revenue and growth in rental income on a same-floorarea basis (+4.3% in France) * E-commerce : 2.8% increase in revenue Residential * Reservations: Stable in value terms (EUR598 million), +4% by volume (2,146 lots sold) * Revenue: EUR652 million (-1.8%) * Backlog: EUR1.3 billion (excl. tax), i.e., 16 months of business Office property * Strong growth for percentage-of-completion revenues: +42.2% to EUR117.4 million Unaudited figures at September 30, 2013 I. BUSINESS 1. RETAIL: Stable performance of tenants' revenue and growth in rental income in France (+4.3%(1)) Shopping centers Tenants' revenue In France, tenants' revenue remained stable (-0.2%(2)) in a context of declining consumption (CNCC Index down 1.3% at August 31, 2013). Rental income (In EUR millions) 2012 9-month published rental income 120.0 Net impact of disposals (3) -6.7 -5.6% Delivery effect (4) 4.0 +3.3% Full consolidation of Cap 3000 (5) 17.5 +14.5% Shopping centers undergoing redevelopment (6) -1.5 -1.2% Like-for-like change 2.1 +1.8% 2013 9-month rental income 135.4 +12.8% The 12.8% growth in rental income year-on-year was particularly due to full consolidation of Cap 3000, now 100% controlled by the group. Rents increased 4.3% like-for-like in France (7), while rents for international portfolio assets dropped 5.1%. E-commerce Rue du Commerce confirmed its positioning among leading e-commerce sites in France, with an average of 5.6 million unique visitors per month since the beginning of the year (8). Revenue generated since the beginning of 2013 was up 2.8% against a backdrop of flat sales on major retail sites (iCE 100 Index (9) up 1% since the beginning of 2013). In value terms (in EURmillions) 9/30/2013 Change Distribution business volume 195.4 +1.7% Galerie Marchande business volume 84.9 +4.6% Total business volume 280.3 +5.1% Rue du Commerce revenue 210.3 +2.8% (1) Excluding impact of deliveries, extensions and disposals, growth measured on the basis of like-for-like rental value in Q3 2012. (2) Figure at 100% on a "same-floor-area" basis, cumulative for the first nine months of the year. Excluding properties being redeveloped. (3) Including the March disposal of the only owned office property asset, developed together with the Okabé shopping center. The shopping center remains in the Group's portfolio. (4) Including income generated by the Costières Sud Family Village(r) in Nîmes, inaugurated in early April 2013. (5) Impact of the full consolidation of Cap 3000 (initially consolidated using the proportionate consolidation method). (6) Including Aix-en-Provence, where extension works and the redevelopment of the shopping gallery began in August 2013. (7) Excluding impact of deliveries, extensions and disposals, growth measured on the basis of like-for-like rental value in Q3 2012. (8) Médiamétrie//NetRating data, January-August 2013 average. (9) FEVAD iCE 100 survey (like-for-like growth of leading sites). 2. RESIDENTIAL: Stable business activity and percentage-of-completion revenues Reservations In volume (number of lots) 9/30/2013 9/30/2012 Change Sales to institutional investors 552 537 +3% Sales to individuals 1,594 1,522 +5% Total reservations in number of lots 2,146 lots 2,059 lots +4% Total reservations in value terms EUR598 million EUR599 million -0% Business activity held steady (+4% in volume, 0% in value terms) for all product categories and all investor profiles. Cogedim is continuing its strategy of enhancing its entry-level and midscale offering, as these ranges account for 76% of reservations in value terms. Percentage-of-completion revenues In EUR million excluding tax 9/30/2013 9/30/2012 Change Percentage-of-completion revenues 651.9 663.5 -1.8% Backlog & pipeline In EUR million including tax 9/30/2013 6/30/2013 Change Backlog (10) 1,279 1,338 -4.4% Number of months of sales 16 months 17 months Pipeline (11) 4,327 3,930 +10% Properties for sale 761 796 Property assets 3,566 3,134 3. OFFICES: Business recovery In EUR million including tax 9/30/2013 9/30/2012 Change Percentage-of-completion revenues 117.4 82.6 +42.2% (10) The residential backlog comprises revenues excluding VAT from notarized sales to be recognized on a percentage-of-completion basis and reservations to be notarized. (11) The pipeline consists of tax-inclusive revenues from properties for sale and the land bank, which includes all plots on which contracts (generally unilateral) have been signed. II. FINANCIAL POSITION Net bank debt came to EUR2.223 billion at September 30, 2013. III. ALTAREA COGEDIM CUMULATIVE Q3 2013 REVENUE In EUR millions 9/30/2013 9/30/2012 2013/2012 "Brick-and-mortar" retail: 159.2 139.7 14.0% Rental income 135.4 120.0 12.8% Services and other 23.8 19.7 21.1% "Online" retail 210.3 204.5 2.8% Residential 652.0 664.0 -1.8% Office property 117.4 82.6 42.2% Total Group revenue 1,138.8 1,090.7 4.4% ABOUT ALTAREA COGEDIM - FR0000033219 - ALTA Altarea Cogedim is a leading property group. As both a commercial land owner and developer, it operates in all three classes of property assets: retail, residential and offices. It has the know-how in each sector required to design, develop, commercialize and manage made-to-measure property products. By acquiring Rue du Commerce, a leader in e-commerce in France, Altarea Cogedim became the first multi-channel property company. With operations in both France and Italy, Altarea Cogedim managed a shopping center portfolio of EUR4 billion at December 31, 2012. Listed in compartment A of the NYSE Euronext Paris, Altarea had a market capitalization of EUR1.4 billion at September 30, 2013. ALTAREA COGEDIM CONTACTS Eric Dumas, Chief Financial Officer edumas@altareacogedim.com, tel: + 33 1 44 95 51 42 Catherine Leroy, Analyst and Investor Relations cleroy@altareacogedim.com, tel: +33 1 56 26 24 87 CITIGATE DEWE ROGERSON CONTACTS Agnès Villeret, Analyst and Investor Relations agnes.villeret@citigate.fr, tel: + 33 1 53 32 78 95 Servane Taslé, Press relations servane.tasle@citigate.fr, tel: + 33 1 53 32 78 94 NOTICE This press release does not constitute an offer to sell or solicitation of an offer to purchase Altarea shares. For more detailed information concerning Altarea, please refer to the documents available on our website: www.altareacogedim.com. This press release may contain declarations in the nature of forecasts. While the Company believes such declarations are based on reasonable assumptions at the date of publication of this document, they are by nature subject to risks and uncertainties which may lead to differences between real figures and those indicated or inferred from such declarations. ALTAREA COGEDIM Q3 2013 Sales and Business Activity - Press release The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. 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