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Full-year 2020 earnings

Klépierre, the European leader in shopping malls, today reported its full-year 2020 earnings.

  • 2020 net current cash flow (total share) of €690 million, €2.05 per share
  • Collection rate expected to reach 91% adjusted for rent abatements
  • Strong recovery in retailer sales post reopening (89% of the prior-year level)
  • Robust liquidity position (€3.2 billion), covering all refinancing needs until May 2024
  • Portfolio valuation down 4.5% on a like-for-like basis over six months;
  • Loan to Value ratio at 41.4%; Interest coverage ratio of 7.3x; Net debt / EBITDA of 10.8x
  • EPRA Net Tangible Assets per share at €31.40
  • Klépierre ranked #1 worldwide by GRESB for sustainability performance
  • 2021 net current cash flow per share expected at €1.90; this guidance assumes that current lockdown measures are not extended beyond March and includes a negative cash flow impact of €0.25.

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