BNP Paribas Real Estate announces € 811m revenues * in 2017. € 187m profit before tax
Breakdown of revenues:
o 46% outside of France (of which 12% in the UK, 24% in Germany, 4% in Italy) and 54% in France
o 74% in Real Estate Services (Transaction, Consulting, Valuation, Property Management and Investment Management), and 26% in Commercial and Residential real estate development.
o 38% from recurrent revenues: Consulting, Valuation, Property Management and Investment Management and Serviced Accommodation.
Key figures 2017:
• Investment Management: over € 1.7bn of new cash collected in funds and € 27.4bn of assets under management in Europe.
• Property Management: revenues of € 98m and a managed portfolio of 40.5 million m².
• Advisory (Transaction, Consulting, Valuation): revenue of € 390m.
• Commercial real estate development: 137 600 m² under construction in France and about 100 000m² delivered in 2017.
• Residential real estate: a sales volume of more than € 1.1bn. Housing units started came in at 2,401 homes.
• Strutt & Parker – one of the UK’s largest independent property partnerships – acquired by BNP Paribas Real Estate in 2017 – sold 2,291 properties for a total of £ 2.9bn.
“Our business lines performed remarkably in 2017, reaching new highs, with revenues of € 811m and € 187m of pre-tax net profit. At the same time, we strengthened our international strategy, with 46% of our revenues generated outside France. The acquisition this year of the UK company Strutt & Parker is a compelling illustration of our international expansion. Indeed, building on our leadership positions in France and Germany, this external growth has enabled BNP Paribas Real Estate to considerably strengthen its network in the UK. Our company is now a leader of real estate services in Europe”, observes Thierry Laroue-Pont, Chairman of the Management Board of BNP Paribas Real Estate.
* Revenue corresponds to net banking income plus income from companies consolidated under the equity method. It mostly consists of net fees from the different business lines and margins of development schemes based on percentage of completion.