Klépierre has achieved its 2023 objectives and plans extensions

Owner of 70 shopping centers in around ten European countries, Klépierre generated a net current cash flow, the profitability indicator it uses to set its objectives, of 2,48 euros per share.

At the start of 2023, it set a target of 2,35 euros, increased to “at least 2,40 euros” during the year.

Chairman of the board Jean-Marc Jestin underlined an “outperformance of 6,5% compared to our initial annual objective”, a figure which “reflects a very good operational trajectory”.

Net current cash flow fell compared to 2022, when it was 2,62 euros, under the effect of exceptional items, in particular linked to rents received during business closures during the Covid-19 pandemic.

Without taking into account these exceptional elements, the indicator is up 10,7%.

For 2024, Klépierre sets a target of between 2,45 and 2,50 euros per share, excluding the impact of disposals or acquisitions.

The group generated a gross operating surplus of 921,4 million euros and forecasts growth in this indicator of 4% in 2024, partly due to extensions of some of its centers.

The main extensions are those of the Grand Place center in Grenoble, completed last November, and the opening, expected in the first half of 2024, of a “rooftop” (roof terrace) in its Maremagnum center in Barcelona.

The group's net debt stood at 7,35 billion euros, down 130 million over one year.

“This level of debt allows Klépierre to study opportunities and make targeted acquisitions,” underlines the group, which will take a stake in the O’Parinor shopping center in Aulnay-sous-Bois (Seine-Saint-Denis). ).

Klépierre also announced, at the start of the year, the future expansion of its Odysseum center in Montpellier, with an additional 8.200 square meters planned.