Multi-channel real estate Retail e-commerce Residential Offices
Entrepreneurship in the service of urban quality of life Our environment and our lifestyles change at a faster pace than property cycles. It takes three to four years to develop a residential or office project and at least 10 years for a shopping center. Altarea Cogedim challenge is to identify trends and anticipate the needs of customers, retailers, partners, local authorities and investors to provide innovative, sustainable and functional solutions adapted to their specific needs. As both a real estate investment trust (REIT) and a developer operating in the three major property markets (retail, residential, offices and hotels) Altarea Cogedim s differentiation reflects its customer-driven approach. This focus on customer needs is the cornerstone of the company s product development process. Its responsiveness and ability to adapt to market trends in turn boost the Group s performance. Finally, by analyzing and seizing market opportunities, with an entrepreneurial spirit that often disregards conventional assumptions, Altarea Cogedim s business model creates added value. Altarea Cogedim s mission is to address the fundamental needs of customers to improve urban quality of life: living and shopping creatively, living and flourishing at home, living and working efficiently, living and sharing sustainably. With operations in France and Italy, Altarea is listed on compartment A of NYSE Euronext Paris.
A business model combining recurring revenue with added value operating cash-flow* (M ) 35.9 4.6 6.0 82.4 50.5 29.9 2005 2006 +35% average annual growth 220.0 197.8 178.7 0.1 161.8 8.1 123.6 16.0 86.1 28.6 52.5 35.7 8.0 55.1 29.4 33.2 2007 2008 137.2 127.0 133.6 103.8 Office Residential Retail *FFO before financial and income tax. +11% 2009 2010 2011 Funds from operations (ffo) 13.1 per share +21% per year since 2005 Dividend 9 per share payable in juily 2012 +25% per year since 2005 Net asset value (nav) 147.2 per share +11% per year since 2005 3 rd largest commercial property company 1 st multi-channel property company 4 th residential and office developer 100% of new programs feature BBC (Bâtiment Basse Consommation ) certification
Living and shopping creatively MARKET TRENDS A high degree of mobility, demand for proximity and social ties, a quest for meaning and guilt-free self-indulgence reflect changing lifestyles and the emergence of new social values. These factors are modifying consumer behavior and creating new forms of interaction at the heart of the marketplace. 73% of French consumers have multiple hobbies 66.5% of French Internet users have confidence in the online purchasing experience OUR SOLUTIONS To address the diversity of consumer profiles, Altarea Cogedim proposes an original and multi-channel retail offering. Offline retail Regional shopping centers These strategically located centers offer a wide range of products, as well as domestic and international retailers. After Cap 3000 in Saint-Laurent-du-Var (Nice), one of the ten largest shopping centers in France, Altarea Cogedim is developing another of the largest shopping center projects in the country in Villeneuve-la-Garenne (Greater Paris). This program will feature 160 shops and restaurants. Regional shopping center in Villeneuve-la-Garenne (Greater Paris) Retail-entertainment Combining retail and entertainment on sites that have become true living areas: that is the innovative concept invented by Altarea Cogedim with Bercy Village in the 12 th district of Paris. This format has since been implemented in the Lyon region with Carré de Soie, and is coming soon to Toulon-la-Valette and Genoa, Italy. Carré de Soie in Vaulx-en-Velin (Greater Lyon) Family Village This edge-of-town concept combines a retail and entertainment offer in sync with families buying power, all in a high-quality landscaped setting. Strengthened by the success of the four Family Village opened in Limoges, Thiais, Aubergenville and Ruaudin, Altarea Cogedim is developing three more in Nîmes Costière, Ruaudin (addition to the existing center) and in the Lille metropolitan area. Thiais Village in Thiais (Greater Paris) 2.6 billion commercial property portfolio 160 million in gross annual rental income Online retail First multi-channel property company With the growing influence of Internet and mobile technology (smartphones, handheld devices), Altarea Cogedim has chosen to develop a unique click and mortar model with the acquisition of RueduCommerce, a leading French online retailer. RueduCommerce will provide a considerable boost to the Group s growth both through development of its own activity and synergies with brick-and-mortar retail.
Living and flourishing at home MARKET TRENDS As building quality and comfort has improved, new demands have developed for housing solutions adapted to new family configurations and eco-responsible practices. The residential space evokes notions of sharing, freedom and well-being. It remains as much as ever a safe haven investment. OUR SOLUTIONS So that homebuyers can get maximum enjoyment, Cogedim proposes quality housing adapted to the lifestyle of each occupant. From high-end to exceptional A leading developer of high-end residential real estate, Cogedim proposes a diversified range of offerings, from prestigious apartments to truly exceptional products in Paris and other French regions. The new Paris 7 Rive Gauche neighborhood (Paris, 7 th district) and Nouvelle Vague (Paris, 4 th district) are emblematic of the Group s expertise in the field. New Neighborhoods Cogedim works side-by-side with local governments to create New Neighborhoods featuring diversified uses and functionalities, quality facilities and generous green spaces. Through these initiatives, it contributes to renovation of regional sites, particularly in Martigues, Nice Méridia, Massy and Suresnes. Cogedim Club senior residences These residences for active seniors combine the advantages of a downtown location and services adapted to residents needs: concierge services, video surveillance, 24-hour security, personalized services, etc. They offer residents a convivial setting for socializing, while maintaining their independence. The first residences were introduced in Villejuif, Arcachon and Sèvres, followed by locations in Chambéry, Cannes-Pégomas, Port du Crouesty, Mantes-la-Jolie, etc. 92% of the French claim to be satisfied with their housing 25% of household budgets are devoted to housing Nouvelle Vague in Paris (4 th district) Midscale and entry-level Cogedim develops residential property for all price ranges, while remaining true to its dedication to quality: well-chosen locations and access, architectural elegance, landscaped environment, generous volumes, decorated common areas, quality interior furnishings. It also works with local governments implementing controlled price policies. Emalia in Montreuil (Greater Paris) Patio Plaisance in Arcachon (Greater Bordeaux) 4,200 Cogedim homes reserved in 2011 Present in the 10 main French metropolitan areas
Living and working efficiently MARKET TRENDS Employee mobility, evolving managerial practices and sustainable development are radically altering workplace design. Users want innovative, modular and costsaving solutions, while investors express their interest for assets offering significant income security. Everyone wants first-rate locations. 77% of international property investors are interested in France 80% of the 570 million square feet (53 million m²) of office space in the Paris Region represents aging properties OUR SOLUTIONS Faced with new trends in commercial real estate, Altarea Cogedim provides innovative answers to meet the needs of users and investors. A unique investment capacity in the Paris Region Altarea Cogedim raised 600 million for AltaFund, the office property investment fund. In time, it will have a discretionary investment capacity of more than 1.2 billion. The fund s goal is to acquire land or existing office property assets for renovation, applying its savoir-faire to create first-fate properties. Complex redevelopments Renovation of MPs offices at the National Assembly, redevelopment of the Marché Saint-Germain, transformation of part of the former Laennec Hospital site into offices: these are just some examples of the Group s mastery of complex redevelopments. Made-to-measure head offices Altarea Cogedim develops made-to-measure head offices, with complete respect for users requirements. Its expertise can be seen clearly in milestone development such as: The former head office of Canal +, the Cartier Foundation, the head offices of Crédit Agricole Alpes Provence, Philips, etc. Future head office of Mercedes-Benz France in Montigny-le-Bretonneux (Greater Paris) High-rise buildings The First Tower in La Défense, France s highest tower and the largest HQE -certified building, has won a number of French and international awards, and exemplifies Altarea Cogedim s savoir-faire in the area of high-rise buildings. The Group also developed the Manhattan Towers, CBX, Opus 12 and Quai 33. Center: First Tower in La Défense (Greater Paris) Business and mixed-use districts These urban hubs featuring offices, hotels and retail spaces are the market of the future. Altarea Cogedim has all the business skills necessary to succeed on this market, coupled with a proactive environmental approach. The offices developed in Cœur d Orly, Euromed Center in Marseille, Cœur de Quartier in Nanterre and Nice Méridia clearly illustrate the Group s expertise and commitment to quality. Luxury hotels Altarea Cogedim transforms institutional buildings classified as historic monuments into luxury hotels, such as the Hôtel-Dieu in Marseille, converted into an Intercontinental, and the former Palais de Justice in Nantes, now a Radisson. 1,830,000 sq. ft. (170,000 m 2 ) of completed office property 600 million raised in 2011 by the AltaFund investment vehicle for office property in the Paris Region
Living and sharing sustainably ALTAGREEN Altagreen, the progress-based approach launched in 2010 enables Altarea Cogedim Group to improve across all of its business lines, define its environmental and social issues and priorities, develop reliable measurement tools and introduce concrete action plans that work towards advancement. 1 dedicated team 8 performance indicators verified by an external auditor OUR SOLUTIONS Altarea Cogedim is contributing to sustainable and responsible lifestyles for all its customers, partners and staff. Environment Altarea Cogedim s environmental policy aims to create buildings and spaces that meet the current and future needs of its clients for comfort, health standards, accessibility and energy efficiency, while limiting the environmental footprint from their development. As a property investor, the Group must protect and promote the long-term value of its assets while reducing their environmental impact and preventing them from becoming obsolete in terms of technical and environmental performance. More than 7,857,500 sq. ft. (730,000 m²) of commercial property certified or awaiting environmental certification 86% of residential programs located less than 500 yards (500 m) from a public transportation network Premium in Nice Méridia (Nice) 186 kwh of primary energy and 1.76 lb. CO 2 /sq. ft. (8.6 kg CO 2 /m²) per year for our portfolio Employee relations Against a backdrop of high growth, Altarea Cogedim continues to develop the expertise of its employees, fostering loyalty and boosting motivation in a company rooted in entrepreneurial spirit. Social responsibility Altarea Cogedim s primary mission is to create unique living spaces for its clients and to manage its property portfolio in accordance with its sustainable development policy. The Group is deeply involved in local development and strives to strengthen ties with stakeholders in pursuit of better urban quality of life. Impasse Marie-Blanche (residential building) in Montmartre (Paris, 18 th district) Creative workshops for children at Cap 3000 (Saint-Laurent-du-Var, Nice)
OUR VALUES LOCATIONS Inventing products, creating value There are two different approaches to creating living spaces: replicating traditional designs or inventing new kinds of places to live, work or shop. Altarea Cogedim has chosen the second path. Sustainable customer-driven solutions Shopping centers, housing, office buildings, hotels: as a creator of unique habitats for customers, Altarea Cogedim acts as a responsible partner, contributing to the quality of living conditions and the urban environment. As such, the Group is committed to ensuring that each project offers an appropriate solution for the city of today and tomorrow. Steering our own course in a spirit of entrepreneurship Altarea Cogedim has become what it is today by steering its own course, guided by a business model that is unencumbered by conventional assumptions and fleeting trends. This entrepreneurial spirit is shared by all Group employees, who boldly take calculated risks to meet the challenges they face every day. Leveraging growth in our three markets Starting out as a shopping center developer, today Altarea is France s third largest commercial-property company. After acquiring Cogedim 2007, Altarea expanded into residential and office property development. Since then, Cogedim has become the fourth largest developer in France (No. 1 in Paris and Lyon) with its housing sales having grown twice as fast as the market. Today, Altarea Cogedim operates in the office property market as a service provider, developer and investor with recognized environmental expertise. PARIS Altarea Cogedim - France Altarea France Cogedim Altarea Cogedim Entreprise Cogedim Résidence Cogedim Résidences Services Cogedim Vente REGIONS Cogedim Grand Lyon 235, cours Lafayette 69451 Lyon cedex 06 Tel.: + 33 (0)4 72 75 40 80 Cogedim Méditerranée 400, promenade des Anglais 06200 Nice Tel.: + 33 (0)4 92 47 80 00 Cogedim Provence 26, rue Grignan 13001 Marseille Tel.: + 33 (0)4 96 17 63 20 Les Néréides - Parc de la Duranne 55, rue Pythagore 13857 Aix-en-Provence Cedex 3 Tel.: + 33 (0)4 42 16 62 50 Cogedim Midi-Pyrénées 46, boulevard de Strasbourg 31000 Toulouse Tel.: + 33 (0)5 34 41 49 00 Cogedim Grenoble 3, rue Jean-Jaurès 38610 Gières Tel.: + 33 (0)4 76 89 69 89 Cogedim Savoies Léman Parc de la Bouvarde Allée du Parmelan BP 14062 74370 Metz-Tessy Tel.: + 33 (0)4 50 05 80 60 Cogedim Aquitaine 29, rue Esprit-des-Lois 33000 Bordeaux Tel.: + 33 (0)5 56 00 13 70 Cogedim Atlantique Immeuble Insula 11, rue Arthur-III 44200 Nantes Tel.: + 33 (0)2 51 86 00 20 Cogedim Languedoc- Roussillon Tour Europa - Bâtiment C 101, allée de Délos 34000 Montpellier Tel.: + 33 (0)4 99 54 98 00 INTERNATIONAL Altarea Italia Via Crocefisso, 27 20122 Milano - Italia Tel.: + 39 02 433 31 41 Altarea España C/ Orense, 85 Edificio Lexington 28020 Madrid - España Tel.: + 34 91 382 21 01 Design and layout: Photo credits: Didier Cocatrix, Plainpicture, Rafaël Trapet/ Picturetank, Alexander Walter/Corbis. Sources: Observatoire des Loisirs des Français, TNS Sofres, December 2011; Sofres survey, June 2011; Baromètre Attractivité du site France, Ernst & Young, 2012.