Klepierre has published solid H1 16 figures with EPS standing at €1.16, up 8.6% yoy, ahead of our FY expectations. Shopping centre net rental income grew by +2.8% lfl , outperforming the index by 250bp, and Retailer sales grew by +2.6% lfl. EPRA NAV stands €34.8 per share, up 8.7% and above our €33 18-month forward NAV, and the group’s GAV is up 4.8% lfl to €22.6bn. The financial position remains strong with cost of debt down 30bp to 2.6%, the LTV at 39.1% remains st
27 Jul 2016
New target price following the H1 figures
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New target price following the H1 figures
Klepierre SA (LI:PAR) | 0 0 1.8% | Mkt Cap: 10,628m
- Published:
27 Jul 2016 -
Author:
Alda Kule Dale -
Pages:
3
Klepierre has published solid H1 16 figures with EPS standing at €1.16, up 8.6% yoy, ahead of our FY expectations. Shopping centre net rental income grew by +2.8% lfl , outperforming the index by 250bp, and Retailer sales grew by +2.6% lfl. EPRA NAV stands €34.8 per share, up 8.7% and above our €33 18-month forward NAV, and the group’s GAV is up 4.8% lfl to €22.6bn. The financial position remains strong with cost of debt down 30bp to 2.6%, the LTV at 39.1% remains st