Klépierre, the European leader in shopping malls, today reported its business review for the first nine months of 2019.The main highlights include:
– Shopping center Net Rental Income of €829.3 million, +3.2% on a like-for-like basis and +0.7% year on year
– Retailer sales +1.9% like-for-like vs. the first 9 months of 2018
– Sustained leasing activity with 1,224 leases signed, representing €27.9 million in additional minimum guaranteed rents
– Average cost of net debt further reduced to below 1.5%
– Créteil Soleil extension 99% let one month before opening; leasing progressing well at Gran Reno extension (53%pre-leasing rate; opening in April 2021)
– New confirmation of Klépierre’s European leadership in ESG from GRESB and MSCI
– Full-year 2019 outlook confirmed: net current cash flow per share of at least €2.76