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Klépierre presenta i conti 2022, che sono solidi

15 Febbraio 2023
Redazione

Klépierre, the European leader in shopping malls, reported its 2022 full-year earnings, which significantly exceeded guidance:

  • Retailer salesup 25% like-for-like compared to 2021
  • Like-for-like net rental income up 24.8% year on year
  • Dynamic leasing activity illustrated by:
    • Occupancy up 110 basis points to 95.8%
    • 4.1% positive reversion, on top of 3.7% indexation
  • Net current cash flow up 20.1% versus 2021 to €2.62 per share, beating the mid-range initial guidance by 13%
  • Proposed increased cash distribution to shareholders at €1.75(4) per share
  • Solid balance sheet and improved credit metrics:
    • Total disposals of €602 million, in line with appraised values(5)
    • Net debt down €527 million over one year and by €1.6 billion compared to December 31, 2020
    • Net debt to EBITDA at 7.9x, LTV of 37.7% and ICR at 10.0x
  • 2023 net current cash flow per share expected at €2.35(6) (up 5% compared to 2022 adjusted NCCF of €2.24(7))
  • Confirmed industry leadership in CSR with a new Act4Good™ strategy aiming at “Building the most sustainable platform for commerce” by 2030

Jean-Marc Jestin, Chairman of the Executive Board, said, “Our team has delivered a remarkable operating and financial performance. Our operating fundamentals are solid. Today we are posting a 20.1% growth in net current cash flow, 13% higher than our initial guidance. The upturn in retailer sales, footfall, leasing activity and revenues is the direct result of Klépierre’s clear strategic positioning in Europe’s largest cities with a portfolio of pre-eminent shopping malls in large and wealthy catchment areas. With net debt down by €1.6 billion over two years, our Group operates with one of the most solid balance sheets in the industry.

We will be proposing an increase in the cash distribution to our shareholders, to €1.75(4) per share.

Furthermore, we have delivered powerful and concrete results in the CSR space and have been ranked number one by several non-financial rating agencies. Going forward, with our new Act4GoodTM strategy, we are aiming to act as a game changer as we want to build the most sustainable platform for commerce by 2030”.

Source : Company