Business review for the third quarter and first nine months of 2017

Paris – October 26, 2017

  • Strong acceleration in retailer sales during the 3rd quarter at +5.6%
  • Robust leasing activity, with 1,440 leases signed at September 30, 2017 (vs 1,356 for the same period last year), with 12.1% reversion rate
  • Shopping centers gross rental income +1.8% for the first 9 months of 2017, mostly thanks to solid like-for-like rental growth
  • Net debt stable at €9,120 million; net cost of debt further reduced to 1.8%
  • €358 million worth of disposals completed or under promissory agreement year-to-date
  • Development projects well on track: 83% pre-let at Prado and 87% at Hoog Catharijne
  • Inclusion in CDP’s “A list,” a recognition for global leadership in fight against climate change
  • 2017 outlook confirmed: net current cash flow per share of at least €2.45, implying 6.1% growth

 

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October 26 2017

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