Full Year 2022 Covivio SA Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Florent Laroche-Joubert - ODDO BHF Corporate & Markets, Research Division - Analyst : Could you hear me? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 21, 2023 / 5:30PM, CVO.PA - Full Year 2022 Covivio SA Earnings Call

Question: Florent Laroche-Joubert - ODDO BHF Corporate & Markets, Research Division - Analyst : Okay. Yes. I would have maybe similar questions. So first one, maybe this is a follow-up question on the guidance. So if we -- if I understand well, so you already include the disposal of 2023 in the guidance, and we are only in February. So does that mean that you are really not confident to dispose further assets in the year? Or does that mean that you already include further disposals in the guidance? So this will be my first question. My second question, so you just -- if I understand well, you say that you justify the fact that you will do a scrip dividend to accelerate the deleveraging. But if I look at your LTV ratio, so it's below 40%. So why to be so cautious today? And maybe a last question on hotels. So could we assume that your performance in H2, 2022 could be a good benchmark for 2023.