2019 full-year earnings
Klépierre, the European leader in shopping malls, today reported its full-year 2019 earnings. The main highlights include:
- Net current cash flow per share up 6.7% vs. 2018 to €2.82 (€2.79, excluding one-off financial income), exceeding the initial guidance of €2.72–€2.75
- Proposed cash dividend of €2.20 per share, up 4.8% vs. previous year
- Shopping center Net Rental Income up 3.0% like-for-like
- Retailer sales up 1.8% like-for-like
- Net debt/EBITDA decreased to 8.0x (down 0.3x vs. 2018); cost of debt lowered to 1.45%
- EPRA Net Asset Value per share of €39.50
- Total disposals of €537 million across Europe
- Marked acceleration in CSR roadmap implementation: 72% cut in carbon emissions since 2013
- Net current cash flow guidance for full-year 2020 at €2.85–€2.90