URW: stock down as earnings set to fall in 2025

(CercleFinance.com) - Unibail-Rodamco-Westfield said on Thursday that it expected EPS to fall by around 5% this year, a decline that the retail real estate group explained by its asset disposals.


This morning, the shopping center operator provided a forecast for adjusted recurring EPS of between E9.30 and E9.50 for FY 2025.

In comparison, URW posted a better-than-expected AR EPS in 2024, up 2.4% to E9.85, notably thanks to the positive impact of the Olympic Games.

On the Paris Bourse, the share lost 0.9% on Thursday morning in early trading in the wake of these announcements.

The group said it had completed asset disposals worth E1.6bn last year, enabling it to improve its debt-to-equity ratio by 100bp, to 40.8%, the lowest since 2019.

Over the last four years, with E6.4bn of asset disposals in Europe and the US, we have restructured our portfolio, significantly reduced our debt, while improving the performance of our operations, and thus profoundly modified our risk profile, it explained.

Unibail says that it intends to propose to its shareholders a 40% increase in the cash distribution to E3.50 per share.

The group plans to share its future growth plans at an investor day to be held on 14 May.


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