Klépierre: FY 2020 revenues down 14.7%
(CercleFinance.com) - European shopping centre group Klépierre has announced 2020 revenues of 1,130 million euros, down 14.
7% y-o-y, with rental income down 25.2%.
It says that different restrictions taken over 2020 to combat the pandemic represent 2.1 months' closure of its entire portfolio.
Klépierre recorded a net current cash flow (total share) of 690 million euros in 2020, or 2.05 euros per share.
For 2021, the group anticipates net current cash flow of 1.90 euro per share (excluding the impact of the staggering of rental concessions relating to Covid-19). This assumes that the current closure measures, which concern 60% of the group's shops, will not be extended beyond March 2021, it says, adding that its financial position is "solid".
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