Klépierre : Exemplary execution mitigated by expected market effect
>An exemplary operational performance - Klépierre beat its guidance this year again with current net cash flow per share of € 2.82 (€ 2.79 excluding exceptional financial income, i.e. an increase of +5.4% y-o-y) vs the initial guidance of € 2.72-2.75 and above € 2.76 after the upward revision at 30 June 2019. As a result, the group can propose a dividend per share of € 2.20 (+4.8% y-o-y) in line with our forecasts and lower its payout ratio to 78% (vs 79% at end-2018)...Klepierre specializes in the development, rental, and asset management of real estate properties in 13 Continental Europe countries. Co. also provides services to third party customers. Co.'s properties include shopping centers, office buildings and shops. It structures its operation into business segments and geographic regions: Shopping centers are structured into 6 operating segments, and the remaining two operating segments are Retail Assets and Office Buildings. As of Dec 31 2013, Co.'s portfolio comprised 91 centers in France/Belgium, 25 centers in Scandinavia, 35 centers in Italy, 76 centers in Spain/Portugal, 23 centers in Central Europe, and 6 centers in other countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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