Unibail-Rodamco-Westfield : Performance in line with investor day and no progress in disposal plan as yet
>Challenging conditions in the UK and US as expected - One year after Westfield's integration, Unibail-Rodamco-Westfield (URW) delivered l-f-l growth in H1 2019 rental income of +3.3% y-o-y. While this was brisk, it was lower than the +4.7% posted in H1 2018. This is the result of two effects: L-f-l growth in shopping centres in mainland Europe was weaker (+2.1% vs 4.2% in H1 2018). Management forecasts growth of +3% in 2019 in this segment. URW is operating...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.
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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