Klépierre revises its 2024 guidance upwards, following a solid outperformance over the first nine months of 2024.

• 2024 net current cash flow now expected at €2.55 per share driven by:
  o Continued leasing demand and further improvements in operating KPIs:
  -1,280 leases signed, up 7% year-on-year, with a 4.0% positive rental uplift
  -Financial occupancy rate at 96.5%, up 30 bps over three months and 70 bps year-on-year
  -9-month retailer sales up 4.0% like-for-like, supported by a 2.4% increase in footfall
  -Occupancy Cost Ratio at 12.6%, down 20 bps year-on-year
  o Solid rental growth: 9-month like-for-like net rental income up 6.3%

• Sector-leading credit metrics:
  o Net debt to EBITDA of 7.2x, cost of debt at 1.7%
  o Net debt at €7,590 million, up €241 million versus December 2023, following the acquisitions closed year-to-date

Read the press release