Report
Florent Laroche-Joubert

Unibail-Rodamco-Westfield : Operational performance largely affected particularly in the US and the UK

>The US and UK still behind vs mainland Europe - The recovery of URW’s shopping centres showed encouraging signs of an upturn in Q3 before the putting in place of new restrictive measure as of mid-October (65% of shopping centres in value terms opened on 31 October). In mainland Europe, footfall was down 21.4% y-o-y in September for a -13.4% y-o-y decline in retailers’ sales in Q3 and a trend in net rental income (constant scope) of -8% for 9M 2020. In the UK, footfal...
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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