Unibail-Rodamco: towards a fall in 2019 recurrent income
(CercleFinance.com) - Unibail-Rodamco-Westfield Group today says that it expects 2019 recurrent net income per share that is down relative to 2018, due to larger disposals ahead, which will enable it to improve the quality of its asset portfolio and to reduce its gearing.
Thus, 2019 RNRPAA is expected between 11.80 euros and 12 euros (with underlying operating profit that is up by 4% to 5%), after 12.92 euros in 2018 - a result that exceeds the group's expectations, with year-on-year growth of +7.2%. The group expects to pay a dividend of at least 10.80 euros, i.e. the same level as this year.
With regard to FY 2018 alone, Unibail-Rodamco also reported net rental income that is up 4% on a like-for-like basis at 2.16 billion euros, including 1.92 billion euros for shopping centres alone. The value of its property portfolio rose slightly on a like-for-like basis (+0.8%), reaching 62.7 billion euros.
Alongside the acquisition of Westfield and the high level of integration work, Unibail-Rodamco-Westfield has generated excellent results, albeit in a context that remains difficult for business, said Christophe Cuvillier, CEO.
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Thus, 2019 RNRPAA is expected between 11.80 euros and 12 euros (with underlying operating profit that is up by 4% to 5%), after 12.92 euros in 2018 - a result that exceeds the group's expectations, with year-on-year growth of +7.2%. The group expects to pay a dividend of at least 10.80 euros, i.e. the same level as this year.
With regard to FY 2018 alone, Unibail-Rodamco also reported net rental income that is up 4% on a like-for-like basis at 2.16 billion euros, including 1.92 billion euros for shopping centres alone. The value of its property portfolio rose slightly on a like-for-like basis (+0.8%), reaching 62.7 billion euros.
Alongside the acquisition of Westfield and the high level of integration work, Unibail-Rodamco-Westfield has generated excellent results, albeit in a context that remains difficult for business, said Christophe Cuvillier, CEO.
Copyright (c) 2019 CercleFinance.com. All rights reserved.