Report
Florent Laroche-Joubert

Unibail-Rodamco-Westfield : Dynamique opérationnelle supérieure aux attentes mais moindre visibilité sur le désendettement

>Guidance relevée sur la base d’une performance meilleure qu’attendu - URW a publié hier soir un CA sur 9 M22 à 2 733,2 M€ (+20.8% yoy) qui traduit la poursuite d’une reprise soutenue de l’activité de ses centres commerciaux mais également une activité locative particulièrement solide :CA commerçants au T3 à 103% vs 2019 : URW confirme ici, comme nous l’attendions, la tendance observée au S1 avec un CA commerçants dorénavant globalement supérieur à la même périod...
Underlying
Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod

Unibail-Rodamco is a commercial property operator, investor and developer. Co. is operationally organized in six geographical regions: France, Spain, Central Europe, Austria, the Nordics and The Netherlands. Its activities are divided into three business lines or segments: Shopping Centres, Offices and Convention & Exhibition. Co.'s Shopping Centres segment focuses primarily on the retail sector; the Offices segment takes care of office assets that are mainly located in the Parisian Central Business District; and the Convention-Exhibitions segment consists of a real estate venues and operations organization, and trade show organization.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Florent Laroche-Joubert

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