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(Sponsored) NEPI Rockcastle - Strong Q1 results
Net operating income landed at EUR 135m, up 12.7% YoY (+9.4% on LfL basis) on the back of higher rents and tight management of operating costs.Tenant sales continued to increase and were up 10.5% YoY (excl. supermarkets) with an average basket size growing by ca. 9%. The best performing sectors were Health & Beauty (+19%) and Services (+18%). Sporting goods were down 2.3%.Occupancy increased 20bps YoY to 97.8%. NEPI reaffirms its 2024 distributable earnings per share guidance to be at ca. 4% YoY. We will update our estimates to reflect the results, reiterating our current valuation.
Underlying
NEPI ROCKCASTLE N.V.
Provider
Degroof Petercam
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Inna Maslova
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