Unibail-Rodamco-Westfield Reports FY-2023 Earnings - Seite 2

Commenting on the results, Jean-Marie Tritant, Chief Executive Officer, said:

“In 2023, we delivered strong operational performance across all activities, supported by dynamic leasing activity and the positive effect of indexation. Our like-for-like Group earnings⁹ are now back at 2019 levels, ahead of the 2024 target we set ourselves at our 2022 Investor Day.

We made further deleveraging progress in challenging investment market conditions, securing 11 transactions totalling €1 billion. Total disposals since 2021 have contributed €5.1 billion to our net debt reduction, and we remain committed to further deleveraging.

The success of our hybrid exchange offer and the oversubscribed €750 million green bond issue demonstrate the continued confidence of debt investors.

In October, we announced a comprehensive evolution of our Better Places roadmap, which included SBTi-approved net-zero targets, as well as new targets on waste reduction, water conservation and biodiversity.

The robustness of the Group’s business, visibility on our operating performance, delivery of major development projects in 2024, and strong liquidity position, give us confidence to reinstate shareholder distributions. We will propose a cash payment this year of €2.50 per share, for approval at our AGM in April, and will significantly increase the distribution in future years as we make further progress on our strategic and financial objectives.”

For further information, please contact:

Investor Relations 
Meriem Delfi
[phone]
[e-mail]  

Gonzague Montigny
[phone]
[e-mail]

Media Relations 
UK/Global:
Cornelia Schnepf – Finelk
[phone]
[e-mail]

France:
Sonia Fellmann – PLEAD
[phone]
[e-mail]

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.

The Group operates 72 shopping centres in 12 countries, including 38 which carry the iconic Westfield brand. These centres attract over 900 million visits annually and provide a unique platform for retailers and brands to connect with consumers. URW also has a portfolio of high-quality offices, 10 convention and exhibition venues in Paris, and a €2.5 Bn development pipeline of mainly mixed-use assets. Its €50 Bn portfolio is 86% in retail, 6% in offices, 5% in convention and exhibition venues, and 2% in services (as at December 31, 2023).