Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on KLEPIERRE. We currently have 3 research reports from 1 professional analysts.
|07Nov16 05:00||GNW||Klépierre announces the disposal of two shopping centers in Scandinavia|
|07Nov16 04:45||GNW||Klépierre announces the promotion of Jean-Marc Jestin as its new Chairman of the Executive Board|
|26Oct16 04:45||GNW||Klépierre : BUSINESS REVIEW FOR THE FIRST NINE MONTHS OF 2016|
|06Oct16 05:00||GNW||KLEPIERRE : DELISTING FROM EURONEXT AMSTERDAM OF KLÉPIERRE SHARES|
|27Sep16 04:45||GNW||KLÉPIERRE : CLOSING OF THE BOND TENDER OFFER|
|19Sep16 05:40||GNW||KLÉPIERRE SUCCESSFULLY PLACES A 15-YEAR 600 MILLION EURO BOND AT A 1.25% COUPON|
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Research reports on
New target price following the H1 figures
27 Jul 16
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 stable, and net debt now stands at €9.1bn, down from €9.4bn. Management has revised the EPS guidance to the upper end of the expected €2.23 to €2.25 range for FY16.
Strong FY figures: now targeting €67m synergies by 2017
10 Feb 16
Klepierre published strong FY15 figures. The NRI stood at €1,068m, up 3.4% lfl (an acceleration from the 2.8% in H1 15) and 300bp above indexation. EPS stood at €2.16, the upper end of the targeted €2.10-2.15. This is ahead of our expected €2.14/share. And the announced dividend at €1.70/share is in line with our expectations. The NAV per share stood at €34.7, up 8%, beating our expectations and now only 0.5% below our 18-month forward NAV expectations. Management now guides for EPS of €2.23 to €2.25 for FY16.
Strong H1: expecting higher cost synergies from Corio, EPS guidance revised towards the upper end
30 Jul 15
Klepierre published a strong set of figures for H1 15. Pro-forma organic NRI stood at €525.2m, up 2.8% despite close to no indexation (+0.4%), with +3.5% from Old Klepierre assets and +1.4% from ex-Corio. EPS gained 1.4% to €1.07 and total portfolio value was up by 2.3% to €21.9bn, (o/w €18.9bn GS) and EPRA triple net NAV gained 4.2% to €30.9. The integration of Corio is moving fast and delivering the planned synergies. Management currently expects more than the €20m of synergies initially guided for FY15. Occupier conditions remained strong with same-store sales up by 3.2% or 3.8% including extensions and the financial structure was optimized with: cost of debt now at 2.5% (closer to Unibail’s 2.2%), a higher debt maturity at 5.6 years and a stable LTV at 40%. Management has revised its EPS guidance for the FY15 moving to the upper end of the previously guided EPS of €2.10-2.15; we had been expecting €2.14.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
11 Jan 17
Joules Group (JOU): Strong festive trading (BUY) | Shoe Zone (SHOE): Tough FY16 could be just the beginning (HOLD) | H&T (HAT): Alternative lender emerging (BUY) | Omega Diagnostics* (ODX): ISO accreditation received for Pune, India (CORP) | Redcentric* (RCN): Interims – restoring forecasts (CORP)
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.