Unibail-Rodamco: rents and dividend upbeat in 2017

(CercleFinance.com) - Unibail-Rodamco ended FY 2017 on an upbeat trend in terms of rents for its shopping centres, despite competition from e-commerce, while total assets and the group's dividend also increased.


As the leading commercial real estate company in Europe, last year the group recorded 4.3% growth in net rents from its shopping centres, at a constant consolidation scope, which represented 1.35 billion euros. This rate is 360 basis points above indexing, the company said.

Recurring net income rose by 7.9% to 1.2 billion euros, or 12.05 euros per share (+7.2%), while the group was targeting between 11.80 euros and 12 euros. The next general shareholder meeting will propose an overall 2017 dividend of 10.8 euros per share in cash (+5.9%). The value of the group's asset portfolio amounted to 43.1 billion euros (+6.3%), which corresponds to "triple net" EPRA net asset value of 200.5 euros (+9.1%).


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