Klépierre : Solid 9M 2019 sales and (overly) conservative consensus in our view
>Operating performance in line with our forecasts and full-year guidance confirmed - Klépierre has reported quarterly sales in line with forecasts. The 9M 2019 figure came to € 997.1m (our forecast was for € 990m), marking a very slight contraction, as expected, of 0.9% following the strategic disposals carried out over 2018 and 2019. Management reiterated its full-year guidance of NFFC per share of at least € 2.76 (i.e. at least + 4.2% y-o-y) in line with our forecas...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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