URW: 9m sales up
(CercleFinance.com) - Unibail-Rodamco-Westfield (URW) has published (IFRS) sales of E2,322m for the first nine months of 2023, up 3.
7% y-o-y (+11.7% LFL).
Sales (IFRS) rose in all divisions, with +6% for Shopping Centres, +12.4% for Offices & Other, +5.6% for Conventions and Exhibitions and +5.3% for Property Services and Other Activities.
The group made further progress in reducing its debt, thanks to asset sales in the US and Europe, and continues to benefit from a low, controlled cost of debt and liquidity of over 36 months, it says.
In concrete terms, URW has E13.2bn in cash and available credit lines.
Strong leasing activity in the first 9 months of 2023 confirms continued retailer demand for URW locations, with 1,685 transactions signed in 9m 2023, up +5.5% y-o-y.
Against this backdrop, URW is targeting 2023 adjusted recurring EPS (AREPS) of at least E9.50.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
7% y-o-y (+11.7% LFL).
Sales (IFRS) rose in all divisions, with +6% for Shopping Centres, +12.4% for Offices & Other, +5.6% for Conventions and Exhibitions and +5.3% for Property Services and Other Activities.
The group made further progress in reducing its debt, thanks to asset sales in the US and Europe, and continues to benefit from a low, controlled cost of debt and liquidity of over 36 months, it says.
In concrete terms, URW has E13.2bn in cash and available credit lines.
Strong leasing activity in the first 9 months of 2023 confirms continued retailer demand for URW locations, with 1,685 transactions signed in 9m 2023, up +5.5% y-o-y.
Against this backdrop, URW is targeting 2023 adjusted recurring EPS (AREPS) of at least E9.50.
Copyright (c) 2023 CercleFinance.com. All rights reserved.