Klépierre: IMPACT OF COVID-19 ON KLÉPIERRE’S ACTIVITIES IN EUROPE
PRESS RELEASE
IMPACT OF COVID-19 ON
KLÉPIERRE’S ACTIVITIES IN EUROPE
Paris, November 5, 2020
Since early October, further restrictive measures have been imposed in various countries to limit the spread of Covid-19.
In France, Belgium, Barcelona in Spain, Poland, the Czech Republic and in certain Italian regions,(1) the authorities have ordered the closure of all stores except those selling basic necessities.(2)
47% of Klépierre’s malls (in value) is unaffected by those general closure measures.
In other European countries in which Klépierre operates, less restrictive measures have been implemented. In Germany and the Netherlands, the authorities have enforced the closure of bars and restaurants (takeaway service permitted), while in Scandinavia, local restrictions have been placed on restaurant opening hours. Lastly, in Iberia, restrictions have been imposed on movement between certain regions. On average, in these countries, footfall over the past two weeks reached 71% of the prior-year level (vs. 78% in September).
On the other hand, in order to mitigate the impact of these restrictions on retail businesses many countries have announced the implementation or the renewal of tailored-made support packages in the form of tax exemptions or credits, access to state-guaranteed loans or financial compensation to cover fixed costs such as the payment of rents or the salaries of furloughed staff.
To date, the rent collection rate stands at 82% for the first nine months of the year and at 71% in October.
| AGENDA | ||
| February 17, 2021 | 2020 full-year earnings | |
| May 6, 2021 | Annual General Meeting | |
| Investor relations contacts | media contacts | |
| Hubert d’Aillières, Group Head of IR and financial communication +33 (0)1 40 67 51 37 — Mengxing Zhang, IR Officer +33 (0)1 40 67 53 05 — Paul Logerot, IR Officer +33 (0)1 40 67 53 02 — | Hélène Salmon, Group Head of Corporate & Internal Communications +33 (0)1 40 67 55 16 — Delphine Granier, Taddeo +33 (0)6 33 05 48 50 — | |
ABOUT KLÉPIERRE
Klépierre, the European leader in shopping malls, combines development, property and asset management skills. The company’s portfolio is valued at €22.8 billion at June 30, 2020 and comprises large shopping centers in 12 countries in Continental Europe which together host 1.1 billion visits per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and is included in the CAC Next 20, EPRA Euro Zone and GPR 250 indexes. It is also included in ethical indexes, such as DJSI World and Europe, FTSE4Good, STOXX® Global ESG Leaders, Euronext Vigeo France 20 and World 120. These distinctions underscore the Group’s commitment to a proactive sustainable development policy and its global leadership in the fight against climate change.
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([1]) For Klépierre: Lombardy and Piedmont
([2]) Mainly including grocery and small food stores, tobacconists, consumer electronics stores, opticians and pharmacies.
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