URW raises its adjusted net recurring earnings per share target for 2022 | Photo credits: URW
PARIS (Agefi-Dow Jones)– Shopping center operator Unibail-Rodamco-Westfield (URW) on Wednesday raised its 2022 adjusted recurring earnings per share (ARNRAPA) target after posting strong business growth during the first nine months of the year.
The property company is now aiming for an RNRAPA of at least 9.10 euros this year, against a previous objective of at least 8.90 euros.
URW specifies that this objective excludes major disruptions related to Covid-19, energy, or the macroeconomic environment.
Over the first nine months of the year, the property company resulting from the merger of the French Unibail-Rodamco and the Australian Westfield achieved a turnover of 2.24 billion euros, in IFRS standards, an increase of 21.2% compared to the same period of 2021.
The group said it had already made 3.2 billion euros in disposals as part of its plan to sell 4 billion euros of assets in Europe. “Given the current market conditions, the group now expects to complete the European disposal program in 2023,” URW said.
-Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; [email protected] ed: ECH