Covid-19: Gecina Mobilized to Serve Its Clients and Support National Solidarity Action
23 Marzo 2020 - 7:52AM
Business Wire
Regulatory News:
Gecina Group (Paris:GFC) has taken several measures, since
February 27, to protect its employees and its clients. These
measures, ramped up since March 13, aim to help prevent the
coronavirus from spreading, while securing its operations, ensuring
the continuity of its duties for all its clients and protecting its
employees and suppliers.
The Group’s decisions include:
- Rolling out widespread working from home measures for all
administrative staff and closing its headquarters,
- Closing the offices of building doormen’s, who, alongside with
building staff and the student residence managers, are continuing
to perform their usual tasks while strictly applying the health
authorities’ recommendations, including barrier measures, without
providing access to the building manager office.
Thanks to the outstanding dedication shown by the teams under
unprecedented conditions, the advanced digitalization of the
Group’s processes and the digital and mobile equipment used by all
its staff, the Group is able to continue operating during this
difficult period to serve its 100,000 clients and end-users.
For its very small business and SME tenants, Gecina Group will
deploy the following measures immediately:
- Concerning very small businesses and SMEs operating in one of
the sectors whose activities have been shut down in accordance with
Section I of Article 1 of the March 15, 2020 decree setting out
various measures to combat the spreading of the Covid-19 epidemic:
- Their rents and operating expenses will be requested on a
monthly basis and no longer quarterly;
- The rent and operating expenses collection is suspended from
April 1, 2020, and for periods following the shutdowns ordered by
the decree. At the time they can resume their activities, the rent
and operating expenses for this period will be subject to deferred
payments or spread without any penalties or interest for late
payment, adapted to each company’s situation
These measures will be applied automatically
and without considering their specific situation for very small
businesses / SMEs whose activities have been shut down with the
aforementioned decree.
- Concerning companies whose activities, while not shut down,
have been significantly affected by the crisis, their situations
will be considered on a case-by-case basis, with a goodwill
approach, taking into account their economic situation.
Gecina Group has a particularly robust financial situation,
with:
- A loan to value (LTV) ratio of 34% (including duties) at
end-2019, further strengthened by its high volume of cash and
undrawn credit lines (€4.5bn at end-2019), enabling it to cover all
its loans maturity up to the end of 2023;
- More than 80% of its Office rental income is generated by key
account clients.
Supporting the national solidarity effort, and aware of its
social commitments, Gecina Group is offering to provide the public
authorities with access to the student residences that have been
vacated following the shutdown of universities and schools, for
healthcare workers, or vulnerable people affected by the lockdown,
such as women victims of domestic violence.
Lastly, Gecina would like to call on everyone responsibility to
strictly comply with the health authorities’ recommendations.
Gecina, at the heart of urban life
Gecina owns, manages and develops property holdings worth 20
billion euros at end-2019. As a specialist for centrality and uses,
the Group is building its business around Europe’s leading office
portfolio, with nearly 97% located in the Paris Region, and a
diversification division with residential assets in particular.
Gecina has put sustainable innovation at the heart of its strategy
to create value and anticipate the expectations of around 100,000
customers and end users, thanks to the dedication and expertise of
its staff, who are committed to an understated, fluid and inclusive
city. To offer its customers high-quality services and support
their changing needs, Gecina has launched YouFirst, its relational
brand.
Gecina is a French real estate investment trust (SIIC) listed on
Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large
60, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global
ESG Leaders and Vigeo indices. In line with its community
commitments, Gecina has created a company foundation, which is
focused on protecting the environment and supporting all forms of
disability.
www.gecina.fr
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version on businesswire.com: https://www.businesswire.com/news/home/20200322005062/en/
GECINA
Financial communications Samuel Henry-Diesbach Tel: +33
(0)1 40 40 52 22 samuelhenry-diesbach@gecina.fr Virginie Sterling
Tel: +33 (0)1 40 40 62 48 virginiesterling@gecina.fr
Press relations Julien Landfried Tel: +33 (0)1 40 40 65
74 julienlandfried@gecina.fr Armelle Miclo Tel: +33 (0)1 40 40 51
98 armellemiclo@gecina.fr
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