Altarea SCA reported earnings results for the first half ended June 30, 2012. For the period, the company reported sales of EUR 728.1 million against EUR 486.3 million a year ago. Operating profit was EUR 116.7 million against EUR 142.7 million a year ago. Profit before tax was EUR 42.0 million against EUR 119.8 million a year ago. Operating cash flow was EUR 113.2 million against EUR 105.2 million a year ago. FFO was EUR 74.1 million or EUR 6.93 per share against EUR 65.8 million or EUR 6.19 per share a year ago. Net consolidated IFRS income was EUR 28.7 or EUR 2.56 per diluted share million against EUR 112.7 million or EUR 10.22 per diluted share a year ago. Distributable net income after changes in value was EUR 26.2 million against EUR 104.9 million a year ago. Fully diluted NAV per share as on June 30, 2012 was EUR 138.3. Net debt as of June 30, 2012 was EUR 5.015 billion.

The company provided earnings guidance for the year 2012. For the period, the company expects 10% FFO growth.