Report
Florent Laroche-Joubert

Unibail-Rodamco-Westfield : Publication encourageante mais la réduction de l’exposition aux USA reste un point d’attention

>BPA récurrent ajusté à 4.95 € vs 4.14 €e et KPI en grande amélioration - URW a publié ce matin à 8h15 un BPA récurrent ajusté S1 2022 de 4.95 € (+53.1% yoy) vs une guidance annuelle comprise entre 8.20 € et 8.40 €. Cette performance traduit 1/ la normalisation de l’activité des centres commerciaux surtout en Europe comme attendu et 2/ un effet one-off lié à la collecte de loyers additionnels 2020 et 2021 : A commerçants à 105% au T2 vs 2019 : le CA commerçants ...
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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