PR Newswire/Les Echos/ Paris, 13 May 2008 First Quarter 2008 Revenues Key events during the period Acquisitions Foncière Europe Logistique undertook no acquisitions in the first quarter of 2008. Construction As part of its growth model, the company is itself launching development projects to better partner with its customers in their growth. In the first quarter of 2008, Foncière Europe Logistique continued three significant construction projects begun in 2007 and started a new one: - Continuation of the Bollène operation launched in the last quarter of 2007, a major project in the Rhône Valley with the construction of the first building of the programme with a surface area of nearly 30,000 m2. - Continuation of the redevelopment of the Corbas Mérieux asset, launched in the last quarter of 2007, on a 15,000 m² building on behalf of its future user Geodis. - Continuation of the Dunkirk operation launched in mid-2007 with the construction of a first building of nearly 22 000 m2. - Launch of the final portion of the Chalon operation to finalise a program for a state-of-the-art logistics park. This involves the construction of an 11,500 m2 building. Optimisation of financial resources Foncière Europe Logistique is optimising its financial resources by replacing short-term debt with long-term. Part of the bridge loan set up in July 2007 as part of the acquisition of the Garonor portfolio amounting to €90 million at 31 December 2007 was repaid in the amount of €25 million on 13 February 2008 and € 17 million on 31 March 2008. Consolidated revenue In thousands of euros 2008 2007 First quarter 25,780 - TOTAL 25,780 - For the record, Foncière Europe Logistique posted no revenue during the first quarter of 2007 due to changes in activity: - Sale of its traditional industrial activity in overvoltage protection as part of a spin-off on 16 May 2007 with retroactive effect to 2 January 2007. - New focus of the company as a Real Estate company operating in logistics and light industrial assets mid-June 2007. The rental earnings from logistics activities were based mainly on the following : - The integration of SCI Percier UIS 062 St Quentin Fallavier on 15 June 2007, which generated €284,000 in revenue in the first quarter of 2008. - The integration of assets contributed by Foncière des Régions and Sophia GE on 24 July 2007. This transaction generated €10,640,000 in revenue in 2008. - The integration of companies following the contribution by Foncière des Régions on 24 July 2007, which generated €2,691,000 in revenue in the first quarter of 2008. - The acquisition of the Garonor companies on 31 July 2007. This operation generated €6,825,000 in revenue in 2008. - The integration of assets injected by Morgan Stanley on 22 November, which generated €5,340,000 in revenue in 2008. Upcoming financial events 25 July 2008: Publication of half-year results 2008 About Foncière Europe Logistique Foncière Europe Logistique, 60% owned by Foncière des Régions, is a listed property investment company under France's SIIC regime (Société d'Investissements Immobiliers Cotée) and specialises in investment in logistics and business park facilities. At 31 December 2007, Foncière Europe Logistique held an asset portfolio valued at 1.4 billion euros, with assets located in France and Germany. The company's investment policy is focused on building partnerships with its client-users, institutional investors and developers. The Director of Foncière Europe Logistique is Marc Henrion. Foncière Europe Logistique is listed on Euronext Paris, Eurolist compartment B ( FR0000064305 - FEL). Contact: Nicolas Ruggieri, Administrative and Financial Officer Tel: +33 (0)1 58 97 51 12 nicolas.ruggieri@gfr.fr See this press release on: www.fonciere-europe-logistique.fr 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. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.
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