The impact of the health crisis on CBo Territoria’s 2020 accounts is limited. The company of La Mare, which saw its turnover drop by 6,4% at the end of the last financial year (103,6 million euros), records a net profit group share of 14,2 million euros. In 2020, the real estate activity generated net rents of 20,5 million euros, increasing by 0,6%. Excluding sale of housing en bloc, these rents increase by 4,3%. The reduction in structural costs and the cost of debt of the real estate company allows it to achieve a Recurring Net Profit Share of the Group of 6,9 M€, up 22,9%. The promotion activity, for its part, saw its margin increase by 10,2%, at 13,7 M€. This performance is driven by a more favorable product mix with the increase in plot sales. Building on the growth in profitability of these two activities, a good commercial performance of residential asset sales and a structural drop in the cost of debt, the net profit share of the CBo Territoria group increases by 18,3%. As of December 31, 2020, the economic assets of CBo amount to 369,7 M€, down by 1,5% compared to the end of 2019 following housing sales. It is made up of 76% tertiary assets compared to 71% at the end of 2019, confirming its move towards this asset class. Tertiary economic assets increase by 4,7% to 281,€5 million with the integration of new assets. It is diverse (32% offices, 57% of businesses, 11% of business premises) and has a vacancy rate limited to 4%. The company chaired by Eric Wuillai intends to pursue its land tenure strategy.
