KLÉPIERRE TARGETS HIGHER NET CASH FLOW IN 2022
(Reuters) – Klépierre said on Wednesday its net current cash flow per share for 2022 would exceed last year’s level, as footfall and rent collection at its shopping centers recovered in the second half of 2021 to near levels. of what they were before the COVID-19 pandemic.
The shopping center group, which counts among its tenants retailers such as Inditex, owner of Zara, H&M and Sephora, expects to generate net current cash flow per share of between 2.30 and 2.35 euros this year, i.e. an increase of 9.5% to 11.9% compared to the 2.10 euros per share achieved in 2021.
Mall owners are anticipating a return to “more normal” shopping patterns after two years of intermittent restrictions to combat the COVID-19 outbreak.
“All of our operational metrics are close to or above pre-pandemic levels, as evidenced by the recovery in rental activity, improved occupancy rate and rebound in retailer turnover,” the chairman said. of Klépierre’s management board, Jean-Marc Jestin, in a press release.
“2022 will be an important year in terms of getting back to normal,” he added in a conference call with reporters.
The group, which owns more than 100 shopping centers in Europe, recorded net rental income of 879.5 million euros in 2021, up 3.9% compared to the previous year.
Klépierre also managed to reduce its net debt by 1.05 billion euros, in particular through disposal proceeds.
The group added that it would propose the payment of a dividend of 1.70 euros per share, up 70% compared to the previous year.
Unibail, owner of Westfield and arch-rival Klépierre, said last week it expects earnings per share in 2022 to top that of 2021, after an encouraging trend in the second half of 2021.
(Report Federica Mileo in Gdansk; French version Dina Kartit, edited by Bertrand Boucey)