We have updated our model on Klepierre’s FY16 numbers. The published figures are marginally in line with our expectations and we maintain our positive stance on the stock. As a reminder: • Shopping centre NRI stood at €1.05bn gaining 1.7% yoy (+3.5% lfl), and standing +320bp ahead of the index. • EPS at €2.31, +6.8% yoy, exceeded the guided €2.23-2.25, and stood ahead of our expected €2.28. The proposed dividend was €1.82, +7.1% yoy, and net debt lower
16 Feb 2017
Positive results, waiting on disposals
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Positive results, waiting on disposals
Klepierre SA (LI:PAR) | 0 0 1.8% | Mkt Cap: 10,628m
- Published:
16 Feb 2017 -
Author:
Alda Kule Dale -
Pages:
3
We have updated our model on Klepierre’s FY16 numbers. The published figures are marginally in line with our expectations and we maintain our positive stance on the stock. As a reminder: • Shopping centre NRI stood at €1.05bn gaining 1.7% yoy (+3.5% lfl), and standing +320bp ahead of the index. • EPS at €2.31, +6.8% yoy, exceeded the guided €2.23-2.25, and stood ahead of our expected €2.28. The proposed dividend was €1.82, +7.1% yoy, and net debt lower