Brief: Klepierre Q1 Net Rental Income Up To Eur 228.5 Mln

Klepierre SA

11/05/2023 06:48

May 11 (Reuters) - Klepierre SA  LOIM.PA :
    * FIRST-QUARTER RETAILER SALES UP 13.2%(()(2)()) AND
FOOTFALL UP
14.1% COMPARED TO 2022;
    * CASH DISTRIBUTION OF EUR 1.75(5) PER SHARE: INTERIM
DISTRIBUTION
OF EUR 0.87 PER SHARE PAID ON MARCH 30, 2023 WITH BALANCE OF EUR
0.88 PER SHARE TO BE PAID ON JULY 11, 2023
    * STRONG GROWTH IN NET RENTAL INCOME, UP 6.2% ADJUSTED FOR
DISPOSALS AND DEVELOPMENTS
    * STEADY LEASING ACTIVITY WITH 304 LEASES SIGNED, AND
SIGNIFICANT
YEAR-ON-YEAR GROWTH IN OCCUPANCY TO 95.7%
    * GUIDANCE CONFIRMED FOR 2023 WITH NET CURRENT CASH FLOW PER
SHARE
OF EUR 2.35(3) (UP 5% COMPARED TO 2022 ADJUSTED NCCF PER SHARE
OF EUR 2.24(4))
    * COST OF DEBT AT 1.3%
    * NET DEBT TO EBITDA RATIO OF 8.1X
    * OVER Q1, GROUP SIGNED 304 LEASES, INCLUDING 230 RENEWALS
AND
RE-LETTINGS
    * CONSTRUCTION OF 16,200 SQ.M. EXTENSION OF GRAND PLACE
(GRENOBLE,
FRANCE) WHICH STARTED IN MAY 2022 IS EXPECTED TO BE DELIVERED BY
END OF 2023
    * AS OF MARCH 31, 2023, CONSOLIDATED NET DEBT STOOD AT EUR
7,585
MILLION COMPARED TO EUR 7,479 MILLION AT END OF 2022

Source text for Eikon:  ID:nGNE5BBf9Y 
Further company coverage:  LOIM.PA 

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