Report
Florent Laroche-Joubert

Unibail-Rodamco-Westfield : Greater visibility pending completion of the debt reduction drive

>2021 AREPS at € 6.75 at least following an encouraging recovery in Q3 - URW released its 9M 2021 revenue figures yesterday evening, with turnover at € 1,964m (-17% yoy) following a Q3 2021 performance that reflected an encouraging upturn in URW’s activity achieved on the back of the full reopening of its shopping centres in June. As described in detail overleaf, we see signs of improvement in the leading indicators reported by URW at end-September:Footfall ...
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

Other Reports on these Companies
Other Reports from Oddo BHF
Olfa Taamallah ... (+2)
  • Olfa Taamallah
  • Yan Derocles
Cor Kluis ... (+2)
  • Cor Kluis
  • Julian Dobrovolschi
Cor Kluis ... (+2)
  • Cor Kluis
  • Julian Dobrovolschi

ResearchPool Subscriptions

Get the most out of your insights

Get in touch