Klépierre targets revised upwards after first half results

Owner of 70 shopping centers in around ten European countries, Klépierre generated a net current cash flow, an indicator of profitability that the property company uses to set its objectives, of 1,25 euros per share, up 3,3% per share. report in the first half of 2023.

These good results are explained by an increase in leases (+11%), an increase in rental income as well as an improvement in the occupancy rate and the collection rate.

Net rental income reached 520,1 million euros (+6% on a like-for-like basis) while retailer turnover increased by 3,9%.

For 2024, Klépierre is revising its net current cash flow objective upwards, to between 2,50 and 2,55 euros per share compared to 2,45 to 2,50 euros per share initially planned.

For the first six months of the year, the group generated a gross operating surplus of 477,3 million euros, up 5,4% compared to the same period of 2023, and forecasts growth in this indicator of 5% in 2024, compared to 4% at the start of the year.

Net debt stood at 7,48 billion euros as of June 30.

Since January 1, the group has acquired two shopping centers in Aulnay-sous-Bois (Seine-Saint-Denis) and in Rome for a total amount of 238 million euros and at the same time sold assets deemed "non-strategic" for 106 millions of euros.