Klepierre edges up on guidance hike, 'solid' H1 results

Klepierre SA

02/08/2023 08:44

** Shares in Klepierre  LOIM.PA  are up 1.9% after the
French mall owner raised its FY guidance and reports "solid" H1
results according to Berenberg
    ** The company announced raising its outlook for 2023, now
expecting a net current cash flow per share of at least 2.40
euros ($2.64) for the year (from EUR 2.35 previously)
    ** "Given the company’s defensive financial profile and
solid operations, we think its optimistic outlook for H2 is
justified," says Berenberg in a note
    ** Klepierre also publishes H1 results with net rental
income at EUR 484.1 mln, EBITDA at EUR 451.9 mln and net current
cash flow at EUR 348.3 mln, slightly above Berenberg's estimates
    ** "Operationally the results were strong, 1H23 was better
than 1H22, broadly in-line with expectations given pandemic
restrictions in 1Q22," notes J.P. Morgan
    ** The stock is outperforming SBF 120 index  .SBF120  (down
0.9%), sitting at the top 


($1 = 0.9103 euros)

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))