EANS-News

Atrium European Real Estate Limited / First quarter 2021 trading update - ATTACHMENT

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------

Quarterly Report

St Helier Jersey / Channel Islands -

First quarter 2021 trading update
Jersey, 4 May 2021, Atrium European Real Estate Limited (VSE/Euronext: ATRS),
(the "Company" and together with its subsidiaries, "Atrium" or the "Group"), a
leading owner, operator and redeveloper of shopping centres and retail real
estate in Central Europe, provides an update on both trading for the three
months ended 31 March 2021 and the impact of COVID-19 on the Group's operations.

Business overview year to date

Q1 2021 continued to be impacted by COVID, performance expected to gradually
improve as restrictions ease

* Atrium's centres were closed for over 60% of Q1 2021 compared to two weeks in
Q1 2020
* Footfall and tenant sales were therefore impacted at 53% and 55% respectively
of 2019 levels, and 62% and 68% compared to 2020 which was partially impacted
by COVID
* In Russia, where Atrium's centres have been open fully throughout the quarter,
sales in the first quarter of 2021 reached their pre-COVID levels
* The trends seen in Russia this year, and in the periods when restrictions were
lifted across the whole portfolio in 2020, give us confidence that footfall
and sales will improve in the coming months as vaccination levels increase and
lockdowns are lifted
* Approximately 88% of the Group's GLA is currently operating following the
reopening of shopping centres in Poland today and on 19 April in Slovakia. The
Czech Republic remains in lockdown except for essential stores, and is
expected to reopen next week on the 10 of May
* As of 30 April 2021, collection rates were at 83% of Q1 2021 invoiced rent and
99% of 2020 invoiced rent


Strong demand for Atrium's green financing provides further capital for the
residential strategy

* EUR650 million raised during the year under our EMTN green financing
programme. In February, a EUR300 million inaugural green bond was issued,
followed up by a EUR350 million first green hybrid bond issuance in May
* Both issuances were over three times oversubscribed, attracting strong demand
from international institutional investors, which is a clear endorsement of
our ongoing diversification into residential for rent in Poland and Czech and
the future outlook for the Company post the pandemic