URW: towards a drop in earnings in 2025, the stock falls back

(CercleFinance.com) - Unibail-Rodamco-Westfield said on Thursday that it expected earnings per share 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 earnings per share (ARISPS) of between €9.30 and €9.50 for fiscal 2025.

By way of comparison, URW posted higher-than-expected RNRAPA in 2024, up 2.4% to 9.85 euros, thanks in particular 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 1.6 billion euros last year, enabling it to improve its debt-to-equity ratio by 100 basis points, to 40.8%, the lowest since 2019.

'Over the last four years, with 6.4 billion euros of asset disposals in Europe and the United States, 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 in a press release.

Unibail indicates that it intends to propose to its shareholders a 40% increase in the cash distribution to 3.50 euros per share.

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

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