UNIBAIL-RODAMCO SE: FINANCIAL INFORMATION AS OF SEPTEMBER 30, 2013
(Thomson Reuters ONE) -
Paris, Amsterdam, October 25, 2013
Press Release
Financial information as of September 30, 2013
1. Consolidated turnover
The turnover of Unibail-Rodamco for the first 9 months of 2013 amounted to
?1,275.2 Mn (+4.3% compared to the same period in 2012):
Turnover
2013-Q3 2012-Q3 ((1))
in ?Mn, excluding VAT
year to date year to date restated
----------------------------------------------------------------
Shopping centres 897.6 835.0
Offices 129.2 137.9
Convention-Exhibition 199.4 207.2
Rental income 127.9 133.1
Services 71.5 74.1
Other 49.0 42.0
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Total turnover 1,275.2 1,222.1
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2. Gross Rental Income as of September 30, 2013 breaks down into:
Gross Rental Income
2013-Q3 2012-Q3 ((1))
in ?Mn, excluding VAT
year to date year to date
----------------------------------------------------------------
Shopping centres 897.6 835.0
France 462.5 429.6
Spain 123.1 114.4
Central Europe 85.8 74.5
Austria 82.6 78.6
Nordic Countries 82.8 80.7
Netherlands 60.9 57.2
Offices 129.2 137.9
France 106.0 114.1
Other countries 23.2 23.8
Convention-Exhibition (France) 127.9 133.1
----------------------------------------------------------------
Total Gross rental income 1,154.7 1,106.0
----------------------------------------------------------------
Figures may not add up due to rounding
Note: (1) Q3-2012 figures restated following Unibail-Rodamco's early adoption in
2013 of the new IFRS 10 and 11 rules. This change led to the consolidation under
the equity method of 21 companies previously consolidated under the proportional
method. For more detailed information, please refer to the Financial Report-
first half 2013, published on July 24, 2013 and available on the Group's website
www.unibail-rodamco.com. Parly 2 is fully consolidated as of July 26, 2013
following a change in governance.
Gross Rental Income (GRI) of the shopping centre division amounted to ?897.6 Mn
for the first nine months of 2013, an increase of +7.5% vs. the same period in
2012. This increase was driven by the Group's active letting activity and
deliveries of new shopping centres in 2012 (notably Confluence and So Ouest in
France and El Faro in Spain) and two new extensions this year (see below).
In the office sector, the GRI decreased by -6.3% vs. the first nine months of
2012 to ?129.2 Mn mainly due to the divestment of Oxygène completed in late
2012. GRI of the Convention-Exhibition sector decreased by -3.9% vs. the first
nine months of 2012 to ?127.9 Mn as a result of the normal seasonal nature of
the business, as well as the generally weak economic environment. GRI of the
Convention-Exhibition sector increased by 1.2% vs. the first nine months of
2011 (restated[1]).
3. Major events
a. Tenants' sales growth continues to outpace markets
Through August 31, 2013, the Group's tenant sales outperformed the national
sales indices by approximately 230bps[2]. Tenants' sales[3] in Unibail-Rodamco's
shopping centres grew by +0.2% in the first nine months of 2013 compared to the
same period in 2012 and 0% during the first 6 months of 2013. Sales in shopping
centres with more than 6 Mn visits per year were up 1.2% during the period ended
September 30, 2013, demonstrating the strength and appeal of the Group's large
shopping centres to both tenants and visitors alike.
b. Successful deliveries continue apace
Following the outstanding success of the opening of the Centrum Cerny Most
extension (Prague), Unibail-Rodamco continued the delivery of projects in its
pipeline adding a total of more than 100,000 m² GLA since June 30, 2013.
Aéroville was opened on October 17, 2013, on the Charles de Gaulle international
airport platform. With 84,000m² of retail it features the Group's latest
standards in terms of innovation: iconic shopfronts and architecture, first
store openings in a French shopping centre (Vans, Costa Coffee, Piquadro.) the
full Dining Experience concept and well received digital tools such as a
smartphone app (56 800 downloads in one week), a facebook page (already 62 900
fans) and website (435 700 views). Aéroville was labelled 4 Star shopping centre
and provides customers with extensive services. Aéroville also features the
first Europacorp cinema, a concept developed by Luc Besson. This 12-screen
cinema aims at enhancing the customer experience with services such as online
booking, seat side catering and private screens for special events. Aéroville is
BREEAM Excellent certified.
The Täby Centrum 14,000m² GLA south extension opened on August 28, 2013, in
Stockholm, Sweden. This extension is the first of two extensions that will make
Täby Centrum a 80,000m² GLA shopping centre by 2015. Täby Centrum features a new
interior design and architecture, double height shopfronts and a number of new
retailers such as the first Lorna Jane store and the first L'Oréal Paris
Boutique in Europe as well as the first l'Occitane store in a shopping centre in
Sweden.
The Alma 10,500m² GLA extension opened on October 24, 2013, in Rennes, France,
with 40 new stores including exclusive retailers such as Hollister and Desigual
and a fully renovated Printemps department store.
The opening of the 12,000m² extension of the Group's Toison d'Or Shopping centre
in Dijon, France, is planned on October 31, 2013. The fully renovated Shopping
City Süd (Vienna, Austria) is to be delivered in mid-november this year.
c. Financing activity
The Group has been active on the financing side since June 30, 2013 with two
bond issues.
A ?500 Mn 5-year bond offering a fixed coupon of 1.875% was issued on October
1, 2013. This bond will mature in October 2018.
A CHF 135 Mn 10-year bond offering a coupon of 2.0% was issued on October
22, 2013 diversifying the Group's sources of financing. The bond will mature in
November 2023 and was swapped back to Euros.
[1] Following the early adoption of IFRS 10, 11 and 12 in the Q3-2013 financial
statement, 2011 figures were restated. The asset Palais des Sports previously
consolidated under the proportional method is now consolidated under the equity
method.
[2] Based on latest national indices available (year-on-year evolution) as of
August 2013, : France: Institut Français du Libre Service; Spain: Instituto
Nacional de Estadistica; Central Europe: Cesky statisticky urad (Czech
Republic), Polska Rada Centrow Handlowych (Poland, as of July 2013); Austria:
Eurostat (Austria and Slovakia); Nordic: HUI Research (Sweden), Denmark's
Statistik (Denmark), Eurostat (Finland).
[3] Tenants' sales performance in Unibail-Rodamco's shopping centres (excluding
the Netherlands) as of September 30, 2013 (year-on-year evolution). Tenants'
sales on portfolio of shopping centres in operation including extensions of
existing assets (mostly Centrum Cerny Most) and excluding deliveries of new
brownfield projects, acquisition of new assets and assets under heavy
refurbishment. Including Apple store sales estimated on the basis of available
public information of Apple Inc. (2012 10-K published October 31, 2012, pages
30 and 34; 10-Q published January 24, 2013, pages 26 and 29; 10-Q published
April 24, 2013, pages 26 and 29; 10-Q published July 24, 2013, pages 27 and
30). Primark sales not available.
For further information, please contact:
Investor Relations
Pierre-Marie Battesti
+33 1 76 77 56 97
Media Relations
Camille Delomez
+33 1 76 77 57 94
About Unibail-Rodamco
Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial
property company, with a presence in 12 EU countries, and a portfolio of assets
valued at ?30.5 billion as of June 30, 2013. As an integrated operator, investor
and developer, the Group aims to cover the whole of the real estate value
creation chain. With the support of its 1,500 professionals, Unibail-Rodamco
applies those skills to highly specialised market segments such as large
shopping centres of major European cities, and large offices and convention &
exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural,
city planning and environmental standards. Its long term approach and
sustainable vision focuses on the development or redevelopment of outstanding
places to shop, work and relax. Its commitment to environmental, economic and
social sustainability has been recognised by inclusion in the DJSI (World and
Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It
benefits from an A rating from Standard & Poor's and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com
UNIBAIL-RODAMCO : Q3-2013 FINANCIAL INFORMATION:
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Source: UNIBAIL-RODAMCO SE via Thomson Reuters ONE
[HUG#1738350]
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Datum: 25.10.2013 - 18:08 Uhr
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