Unibail-Rodamco: Innovative performance ANNUAL and sustainable development report

Size: px
Start display at page:

Download "Unibail-Rodamco: Innovative performance. 2012 ANNUAL and sustainable development report"

Transcription

1 Unibail-Rodamco: Innovative performance 2012 ANNUAL and sustainable development report

2 02 Milestones 2012 Corporate The values which distinguish us 08 Interview with the CEO and the Chairman of the Management Board 12 Interview with the Chairman of the Supervisory Board 14 Corporate governance and risk management 16 Figures on the rise 18 epra performance measures 20 Shareholder s report Strategy Re-inventing the customer experience 24 Re-inventing the customer experience 26 So Ouest a new generation shopping centre 28 The 4 Star shopping experiencel 30 Projects in the pipeline OPERATIONS Iconic Assets 36 Moments to remember 42 Iconic shopping centres 48 Our shopping centre managers 50 Offices 52 Convention & exhibition Sustainable development Creating sustainable value everyday 56 Unibail-Rodamco s sustainability journey 58 A transparent governance for sustainability 60 Material issues to create sustainable value 62 Re-align our sustainability vision and priorities with the Group s strategy 64 A motivated workforce empowered to deliver change 66 Creating opportunities for communities to prosper 70 Building resilience through innovation citizenship 74 Unlock opportunities for tenants and customers to make sustainable decisions

3 82 shopping centres in Europe* France 34 shopping centres Netherlands 5 shopping centres Germany* 7 shopping centres Austria 3 shopping centres Nordic countries 9 shopping centres Central Europe* 8 shopping centres Spain 16 shopping centres Offices and Convention & Exhibition venues in Paris C&E Offices MAJOR EUROPEAN CITIES from west to east which host Unibail-Rodamco assets: SEVILLE / VALENCIA / MADRID / BARCELONA / BORDEAUX / LYON / NICE / PARIS / LILLE / AMSTERDAM / THE HAGUE / COPENHAGEN / STOCKHOLM / PRAGUE / VIENNA / BRATISLAVA / WARSAW / HELSINKI / * including shopping centres consolidated under the equity menthod: Central Europe: Złote Tarasy. Germany: mfi (6 standing managed assets: Paunsdorf, Gropius Passagen, Pasing Arcaden, Höfe am Brühl, Gera, Ruhr-Park).

4 PROFILe Created in 1968 Listed on the Paris Stock Exchange since 1972, On the Amsterdam Stock Exchange since Included in the CAC 40, AEX 25 and Euro Stoxx 50 indices. Recognised in the DJSI (World and Europe), FTSE4Good, STOXX Global ESG Leaders indices. 89% of the Group s shopping centres welcome more than 6 million visits per annum. Strong balance sheet with a low loanto-value (LTV) ratio of 37%. A Rating from Standard & Poor s and Fitch, the best rating in the industry. Shopping centres SPLIT of Total PORTFOLIO 78% Central Europe SPLIT of shopping Centre PORTFOLIO 51% France BY ACTIVITY 13% BY REGION Convention & Exhibition 9% 13% Spain 11% 10% 9% 6% Offices Nordic countries Austria The Netherlands 3,383,800* M 2 GLA 585,700 M 2 GLA 616,300 M 2 GLA shopping centres offices convention & Exhibition 797 Million Visits Across the Group s shopping centres 364 Million visits 54 Million visits 110 * Million visits 36 * Million visits france austria CENTRAL EUROPE Germany 146 Million visits 52 Million visits 35 Million visits spain nordic COUNTRIES the netherlands * Including shopping centres consolidated under the equity method.

5 Unibail-Rodamco: innovative performance Experience. One word that sums up the driving force behind Unibail-Rodamco: it represents an expertise in property management, in-depth knowledge of consumer trends, original and exclusive retail and office projects and the best services combined with the most creative and spectacular events. Unibail-Rodamco is Europe s leading listed commercial property company, a position that can only be achieved through an innovative approach capable of creating value for its customers and stakeholders.

6 MILESTONES , a year of progress and value creation April 2012 THE 4 STAR LABEL is Unibail-Rodamco s initiative to deliver outstanding services for its retail assets. It is a unique strategy, which sets ambitious targets for improved quality at each stage of the customer s shopping experience. To ensure the 4 Star label responds to customer expectations, the foundation of this strategy, a rigorous 571 point referential is externally audited and used to guide the Shopping Centre Manager towards 4 Star excellence

7 OPENING OF CONFLUENCE IN LYON Confluence has a striking façade and a quilted roof made up of air cushions which flood the interior with natural light. Symbolising a new generation of shopping centres, it was awarded the 4 Star Label and reflects the expertise of Unibail-Rodamco in selecting and implementing innovative shopping concepts. It heralds the development of new services and boasts a unique design, providing customers with an exclusive shopping and leisure experience. In 2010, Confluence received a BREEAM Very Good for its environmental qualifications, the first mall to receive this score in France. April 2012 June 2012 UNIBAIL-RODAMCO ENTERS INTO A PARTNERSHIP WITH MFI mfi is Germany s second largest shopping centre operator, investor and developer. Its portfolio includes major assets such as Paunsdorf and Höfe am Brühl in Leipzig, Gropius Passagen in Berlin and Pasing Arcaden in Munich. In addition, the Group also acquired a 50% stake in Ruhr-Park in Bochum, managed by mfi and one of the largest shopping centres in Germany. Overall the transaction involves 9 standing and future shopping centres, as well as 20 malls managed for third parties

8 MILESTONES 2012 July 2012 THE DINING EXPERIENCE A new initiative aimed at doubling the space dedicated to dining in Unibail-Rodamco s shopping centres, the Dining Experience combines 3 key ingredients: a perfect mix of the best local restaurateurs and well established international concepts, an outstanding Dining Plaza, and an Experience Theatre with a dedicated programme of events and marketing activities. Launched in la Maquinista in July, the Group plans to deploy the strategy to 25 shopping centres over the coming years. UR LAB UR Lab s role is to define the Group s vision for innovation, set long-term goals and equip the Group to achieve them cost-efficiently. The Lab unites all of the Group s innovation initiatives from across different departments under a single umbrella. DJSI Unibail-Rodamco ranked among the top 5% in the Dow Jones Sustainability Index (DJSI) this represents a score increase of 46% since September 2012 OPENING OF EL FARO IN BADAJOZ, SPAIN where 100,000 visitors came to visit the mall on the opening week-end. El Faro hosts 97 shops across 66,000m² GLA, including the first H&M, Media Markt and Primark stores in the region. Located 1km from the Portuguese border and 5 minutes by car from Badajoz city centre, El Faro is very well connected to all public transportation and major regional highways. It received a BREEAM very good for its environmental credentials

9 OPENING OF SO OUEST, LEVALLOIS, PARIS REGION Designed in the style of a Haussmannian apartment, So Ouest offers retailers and visitors alike an attractive mix of grand open spaces and cosy rest areas. The shopping centre s richly decorated interiors feature marble floors, leather handrails and a variety of glass elements the perfect environment for premium retailers and top international brands, such as Hollister, LEGO and Marks & Spencer. The mall s appeal to customers was illustrated by the more than one million visits during the first month of opening. So Ouest has a BREEAM Excellent rating for its environmental qualifications, a first for a shopping centre in Europe. October 2012 October 2012 RECORD LOW COST OF DEBT Unibail-Rodamco successfully issued a 500 Mn bond with a 4.7 year maturity and a 1.625% coupon. This represents the lowest coupon ever paid by Unibail-Rodamco for a public Euro benchmark. Out of 4.6 Bn of medium to long term financing raised in 2012, the Group raised 2.4 Bn on the bond market at an average 99 basis points over mid swaps. This issuance contributed to a decrease in the Group s average cost of debt to 3.4%. UNIBAIL-RODAMCO CELEBRATES ITS 40 YEAR LISTING ANNIVERSARY ON THE PARIS STOCK EXCHANGE From December 1972 to December 2012, the Group achieved a total annualised shareholder return (dividends reinvested) of 16.4%. December

10 Confluence by night

11 CORPORATE The values which distinguish us

12 CEO & CHAIRMAN OF THE MANAGEMENT BOARD Interview with the Chief Executive Officer and Chairman of the Management Board GUILLAUME POITRINAL 08 09

13 CORPORATE How was 2012 for Unibail-Rodamco? I am pleased to report that the 2012 results have surpassed expectations. Recurring earnings per share grew by 6.7%, well above the 4% outlook; this reflects the fact that prime, centrally located assets have weathered the storm very well, despite a challenging economic climate across Europe. For example, in Les Quatre Temps and Donau Zentrum, iconic shopping centres in La Défense and Vienna saw tenant sales increase by 7.7 and 8.3%, respectively. In Spain, the Group has outperformed national indices and continued to create value Splau, a 55,000 m 2 mall in Barcelona, acquired by the Group in October 2011, demonstrates the Group s strength in re-marketing and re-designing assets to return them to growth. An important renovation project received a favorable reaction from customers, with footfall increasing by 13.5% in A central theme in 2012 was re-inventing the customer experience, could you tell us more? The Group has a relentless appetite for innovation and differentiation, and has kept advancing from ambition to achievement in 2012, especially in its capacity to adapt and understand changing consumer trends. It is the end of boring shopping. Customers are more sophisticated and going to a shopping centre is no longer an obligation. In response, our shopping centre strategy is to offer the best of culture, brands, emotions and entertainment in a single space. This reflection led to the 4 Star strategy, a label that enforces an unmatched level of comfort and service in the Group s shopping centres. Each Shopping Centre Manager will implement this quality control by basing themselves on a distinct 571 point referential, It is the end of boring shopping. Creating multi-sensory spaces with light, smell and sound is researched and applied by UR Lab a creative think thank launched in 2012 and responsible for defining the Group s innovation vision. The same innovative vision is being applied to the Group s office segment. With the constraints of today s work life, how can the Group better these environments for workers, whilst optimising the costs for tenants? Our offices have considered these constraints by offering flexible floor plates and the highest standards in terms of design, services and technology. Our new strategy, The New Art of Working, launched in 2012, concretely responds to these challenges. Finally, digital initiatives have become integral to improving the customer experience and building direct relationships with customers was a record year: now all of the Group s shopping centres have an iphone and/or Android application, contributing to an exponential increase in the number of apps downloaded ( 1.3Mn as of December 2012 vs. 0.2Mn as of December 2011 ) and a number of unique features such as product search, movie trailers and gift ideas. The number of Facebook fans of the Group s shopping malls also revealed exceptional results in 2012, with 2.6Mn fans in December, compared to only 0.7M the year before

14 CEO & CHAIRMAN OF THE MANAGEMENT BOARD Does a happy customer also make a happy tenant? Unibail-Rodamco is a leader in the six regions in which it operates, making the Group a reference for premium and differentiating retailers to expand across Europe. Notable tenants include the first Apple store in France at the Carrousel du Louvre, or the first Nespresso strore in a shopping store in France and the Netherlands was another record year, with 139 new leases signed with international premium retailers. Retailers understand that we need to work together to exceed customer expectations. Part of the Group s differentiating strategy is to encourage the development of flagship stores, with iconic shopfronts. Unibail-Rodamco is a demanding landlord and this is reflected through an active tenant rotation. To meet retailer demand, the Group has delivered 7 new shopping centres and renovated or extended many of its large shopping centres since the merger between Unibail and Rodamco in The Group aims to have renovated or extended 75% of its portfolio by year-end Retailers understand that they also need to innovate and adapt to changing consumer trends. These are win-win partnerships. In 2012, the Group started a partnership with mfi, a deal totalling nine standing and development projects in Germany. Does the Group seek to expand into new regions? Perhaps outside of its traditional Europe? Germany has remarkable potential, with real prospects due to rising wages and consumer spending. Unibail-Rodamco could not ignore this market; the question was finding the right opportunity at the right time. These standing and future assets are well located in catchment areas with a significant growth outlook. The Group does not ignore opportunities outside Europe; however we believe our management expertise is further strengthened by a geographical proximity with assets. Germany has remarkable potential, with real prospects due to rising wages and consumer spending. The Group has one of the largest development pipelines in the industry, how confident are you for growth in the years to come? The flexible 7 billion development pipeline is ambitious, and can only be pursued because of the Group s strong balance sheet and highly rated debt structure. As of December 31, 2012, the seven brownfield and greenfield projects to be delivered in 2013 were already 70% pre-let. Because sustainable development principles are important to the Group and its stakeholders they are fully integrated in the Group s operations and pipeline; the BREEAM excellent ratings achieved by recent deliveries and projects are a testimony to Unibail-Rodamco s commitment to sustainable development. These are remarkable projects; however they will now be under the supervision of Christophe Cuvillier, who will succeed me on the 25 th of April 2013, the date at which my mandate ends. I leave this incredible adventure of 18 years, with a feeling of a job well done. Christophe and I share the same vision for the Group; this gives me great confidence that Unibail-Rodamco will continue making the right decisions and continue to steer the path of performance for the many years ahead

15 CORPORATE GUILLAUME POITRINAL VISITS THE BUILDING SITE OF AÉROVILLE, A NEW GENERATION SHOPPING CENTRE WHICH WILL BE DELIVERED AT THE END OF

16 SUPERVISORY BOARD Interview with the Chairman of the Supervisory Board ROB TER HAAR HOW HAS THE SUPERVISORY BOARD PERFORMED DURING YOUR FIRST YEAR AS ITS CHAIRMAN? Under the inspiring leadership of my predecessor Robert van Oordt, our board developed into a well-integrated and effective governing body and it continues to perform very well. All Supervisory Board members were actively involved in 2012 as evidenced by the 100% attendance rate at all board and committee meetings, despite the various European residences of board members. One of the meetings was combined with a visit of the Group s assets in Poland, providing board members with an opportunity to meet with the regional team and visit a number of the jumbo shopping centres. A full day was also dedicated to allowing board members to become familiar with important business initiatives undertaken by the Group. HOW DID THE GROUP PERFORM? The Group continued to perform well in 2012 despite the on-going unpredictable economic climate and this is due to our strong and dynamic management. The Group s distinctive mark came to the fore in 2012 with several new innovative programs, such as the 4 Star policy, with all of them aimed at enhancing the Group s services and its appeal to tenants and visitors alike. The Group also continued to relentlessly pursue high standards of sustainability measures, and was awarded two gold stars by EPRA with respect to its reporting and compliance with EPRA s best reporting standards. The Management Board will continue to undergo change in 2013 with the departure of the Group s long standing Chief Executive Officer, Guillaume Poitrinal and the internal promotions of Christophe Cuvillier as the new Chief Executive Officer, Jean-Marie Tritant as the new Chief Operating Officer and Olivier Bossard and Fabrice Mouchel as new members of the Management Board in their capacities as Chief Development Officer and Deputy Chief Financial Officer respectively, on April 25, On behalf of the Supervisory Board, I thank Guillaume for his dedication and outstanding leadership during the last 8 years. He has guided the Group through both prosperous and challenging times with enthusiasm and professionalism and his contribution to the position the Group enjoys today is immeasurable. I congratulate Christophe, Jean- Marie, Olivier and Fabrice on their appointments, which are testimony to the existing wealth of talent and knowledge within the Group. HOW DO YOU VIEW THE FUTURE? Without underestimating the adverse economic context, but looking at the Group s achievements to date as well as its creativity, ability to innovate and its talented management which is supported by its skillful and dedicated employees, the Supervisory Board looks to 2013 and the years beyond with confidence. WAS THERE ANY STRATEGIC INITIATIVE THAT STOOD OUT IN 2012? The acquisition of a large stake in the major German shopping centre investor, developer and manager, mfi, marks a solid entry into the shopping centre business in Europe s strongest economic region, with promising opportunities for future expansion and value creation. DO YOU HAVE ANY COMMENTS ON THE CHANGES IN MANAGEMENT? The Management Board underwent several changes during the year. In particular, Jaap Tonckens, an existing Management Board member, assumed the role of Chief Financial Officer in addition to his responsibilities for the Group s investment activities

17 CORPORATE MEMBERS OF UNIBAIL-RODAMCO S SUPERVISORY BOARD L to R: Jean-Louis Laurens; Rob ter Haar (Chairman of the Supervisory Board); Frans J.G. M. Cremers; François Jaclot (Vice-Chairman of the Supervisory Board); Marella Moretti; Herbert Schimetschek; Mary Harris; Alec Pelmore; Yves Lyon-Caen; José Luis Duran

18 RISK MANAGEMENT MANAGEMENT BOARD L to R: Christophe Cuvillier, Chief Operating Officer; Guillaume Poitrinal, Chief Executive Officer and Chairman of the Management Board; Catherine Pourre, Chief Resources Officer; Jaap Tonckens, Chief Financial Officer

19 CORPORATE Corporate Governance and Risk Management Unibail-Rodamco operates a two-tier board structure, which ensures the right strategy is set, acceptable risks are taken and suitable financial and human resources are mobilised for sustainable economic growth. SUPERVISORY BOARD The Supervisory Board, chaired by Rob ter Haar, exerts oversight and control over the Management Board and the general affairs of the Group. Supervisory Board members participate in regular review sessions on subjects including market and industry developments, financial and legal matters, sustainable development, risk management, and governance. The Board is assisted by two committees which focus on specific aspects of its supervisory responsibilities: the Audit Committee, and the Governance, Nomination and Remuneration Committee. As at 31/12/2012 all members are independent according to criteria defined in the Supervisory Board Charter, based on the AFEP-MEDEF French Corporate Governance Code Criteria. MANAGEMENT BOARD The Management Board is chaired by Mr. Guillaume Poitrinal and is responsible for providing leadership for the Group four members as at 31/12/2012. The Management Board s duties include developing and carrying out the Group s strategy within the approved risk profile, effectively structuring and staffing the organisation, applying consistently the principles of sustainability to operations and developments, and achieving and properly reporting on financial targets and results. The Board operates under its own Charter and is overseen by the Supervisory Board. THE CODE OF ETHICS The fundamental principles, values and standards which govern the Group are described in Unibail- Rodamco s Code of Ethics. It sets out the Group s policy on respect for human dignity, respect for employees work and non-discrimination, on loyalty, integrity and conflicts of interest, on ethical ways of doing business, and on the treatment of confidential information. As a signatory of the UN Global Compact, Unibail-Rodamco has undertaken to promote the application of fundamental values with respect to human rights, labour, the environment and corruption. RISK MANAGEMENT The overall risk philosophy of the Group can be described as conservative, with an emphasis on accepting the risks which determine the nature of the business, such as fluctuations in the value of assets, vacancies, volatility in market rents, or risks associated with development activities. Key risks are assessed using a standard, Group-wide risk analysis framework and risk maps are used to rank exposure on the basis of probability and magnitude. Sensitivity analysis is also conducted at Group level. Unibail-Rodamco was ranked the 2 nd best company in the CAC40 in terms of Governance*. Full details of the Group s corporate governance structure and risk management approach are provided in the Report of the Chairman of the Supervisory Board and the Legal Information chapter. * 2010 Study conducted by Proxinvest

20 KEY FIGURES Figures on the rise Recurring earnings per share (in ) Distribution per share (in ) * 8.40** In Unibail-Rodamco s 5 th year anniversary since the merger in 2007, the performance in 2012 demonstrates the relevance of its strategy of accelerating the differentiation of the Group s portfolio of prime shopping centres. This year Unibail-Rodamco has continued to differentiate the customer experience in its shopping malls by introducing new international premium retailers, successfully opening three new generation shopping centres, redesigning many others and launching innovative marketing initiatives. With its strong portfolio of 82 shopping centres, three strategic partnerships signed in 2012 and its flexible prime quality development projects, its strong balance sheet, secured low cost of financing and talented professionals, Unibail-Rodamco expects to deliver strong earnings growth in the future. * Subject to shareholders approval. ** In 2012 Unibail-Rodamco opted for an early adoption of the IAS19 R ( employee benefits ) accounting rule. As a result, the 2011 recurring earnings per share were adjusted by

21 CORPORATE NET RENTAL INCOME Mn Growth % Growth % like-for-like* Shopping centres France % 5.4% Spain % 0.2% Central Europe % 4.4% Austria % 6.4% Nordic countries % 2.9% The Netherlands % 1.5% Net Rental Income 1, % 4.2% Offices France % 8.2% Other % -0.9% Net Rental Income % 6.9% Convention & Exhibition Net Rental Income % 7.7% Total Net Rental Income 1,318 1, % 4.8% KEY CONSOLIDATED INDICATORS Mn Growth % Growth % like-for-like* Net Rental Income 1,318 1, % 4.8% Valuation movements and gain on disposals 1, Net result (Group share) 1,459 1,325 Net recurring result (Group share)** % Recurring earnings per share (in )** % Distribution per share (in )*** % NET ASSET VALUE (NAV) in per share Dec. 31, 2012 Dec. 31, 2011 Growth % Going Concern NAV % EPRA NNNAV % * Like-for-like growth excluding acquisitions, divestments, transfers to and from pipeline (extensions, brownfields) and currency exchange rate differences (computation based on the exchange rate used the previous fiscal year) in the periods analysed. ** 2011 results have been restated following the early adop tion of IAS19R, with an imp act of M n on EPRA Earnings and on EPRA Earnings per share. *** Subject to shareholders approval at the Annual General Meeting on April 25,

22 EPRA PERFORMANCE MEASURES EPRA performance measures Unibail-Rodamco complies with the Best Practice Recommendations (BPR) established by EPRA, the representative body of the publicly listed real estate industry in Europe. These recommendations, which focus on the key measures that are seen to be of the most relevance to investors, are intended to make the financial statements of public real estate companies clearer, more transparent and comparable across Europe. Definition 1.EPRA Earnings 2.EPRA NAV 3.EPRA NNNAV 4. i.epra Net Initial Yield (NIY) 4.ii.EPRA topped-up NIY 5.EPRA Vacancy Rate Recurring earnings from core operational activities Net Asset Value adjusted to include properties and other investment interests at fair value and to exclude certain items not expected to crystallise in a long-term investment property business model EPRA NAV adjusted to include the fair values of (i) financial instruments, (ii) debt and (iii) deferred taxes Annualised rental income based on the cash rents passing at the balance sheet date, less non-recoverable property operating expenses, divided by the market value of the property, increased with (estimated) purchasers costs This measure incorporates an adjustment to the EPRA NIY in respect of the expiration of rent-free periods (or other unexpired lease incentives such as discounted rent periods and step rents) Estimated Market Rental Value (ERV) of vacant space divided by ERV of the whole portfolio 18 19

23 CORPORATE * EPRA Earnings (in euros/share) 2.EPRA NET ASSET VALUE (NAV) (in euros/share) 3.EPRA TRIPLE NET ASSET VALUE (NNNAV) (in euros/share) 6.0% 5.7% 5.5% 5.4% 5.4% 5.2% 5.2% 5.0% i.EPRA Net Initial Yield (NIY) shopping centres 4.i.EPRA Net Initial Yield (NIY) offices 4.ii.EPRA topped-up NIY shopping centres 4.ii.EPRA topped-up NIY offices 11.2% 2.1% 7.1% 7.3% 1.7% 1.9% EPRA Vacancy Rate shopping centres 5.EPRA Vacancy Rate offices * 2011 results have been restated following the early adop tion of IAS19R, with an imp act of M n on EPRA Earnings and on EPRA Earnings per share

24 SHAREHOLDERS REPORT Shareholders report Stock market performance and shareholding structure RELATIVE PERFORMANCE OF UNIBAIL-RODAMCO S SHARE* (rebased to 100 as at December 31, 2002) Unibail-Rodamco (dividends reinvested) EPRA (3) Euro zone index (dividends reinvested) CAC 40 (dividends reinvested) SHAREHOLDING STRUCTURE Unibail-Rodamco has been listed on the Paris Stock Exchange since 1972 and on the Amsterdam Stock exchange since The Group is included in the French CAC 40 index since June 18, 2007 and in the Dutch AEX 25 since June 22, On February 8, 2010, Unibail-Rodamco entered the Dow Jones Euro Stoxx 50 Index. On December 31, 2012, the Group had a market capitalisation of 17.3 billion 1. Unibail-Rodamco has a large and diverse international shareholding base, which is mainly composed of institutional investors based in the United States, the Netherlands, France and the United Kingdom. On January 1, 2013, none of Unibail-Rodamco s shareholders had declared holdings of more than 10% of the issued share capital. The main known shareholders, with holdings of between 4% and 10% 2, include APG and Amundi. 1 Including 7,825 ORAs outstanding at December 31, Based on latest ownership threshold disclosures received. * As at December 31,

25 CORPORATE STOCK MARKET PERFORMANCE Stock market value creation is measured by Total Shareholder Return (TSR). TSR indicates the total return obtained through ownership of a share over a given period of time. It includes dividends (or any other distribution) paid and any change in the company s share price. Annualised TSR for Unibail-Rodamco shares with dividends (or any other distribution) reinvested amounted to: > 19.4% per annum over a 10-year period between December 31, 2002, and December 31, 2012, compared with 5.2% for the CAC 40 index and 9.6% for the EPRA 3 property investment companies performance index (Euro zone). > 38.4% per annum over the full year 2012, compared with 20.3% for the CAC 40 index and 29.2% for the EPRA property investment companies performance index (Euro zone). 3 European Public Real Estate Association (www.epra.com). TSR for EPRA Euro Zone index is calculated with gross dividend reinvested. Volume in Billion euros 30 CHANGE IN SHARE PRICE AND TRADED VOLUMES SINCE 2002 Share price in euros Traded volume rolling over 12 months (in Billion euros) Closing share price monthly average (in euros) TRADED VOLUMES In 2012, the number of shares traded slightly decreased to an average daily volume of ca. 347,000 shares compared to 404,000 shares in In parallel, the average daily traded capitalisation decreased to 54.0 million in 2012, compared to 65.5 million in DISTRIBUTION SCHEDULE Unibail-Rodamco s current distribution policy is to pay out between 85% and 95% of the financial year s net recurring earnings per share. At the General Meeting to be held on April 25, 2013, the Board will propose a distribution of 8.40 per share for the 2012 financial year, representing an increase of 5% compared to 2011 and a pay-out ratio of 88%. Subject to approval from the Annual General Meeting, shareholders will be paid on June 3, 2013: 5.27 per share in cash paid from Unibal-Rodamco s tax exempt real estate activities (the SIIC dividend ) and 3.13 per share in dividend distributed from the Group s non-tax exempt activities (the non SIIC dividend ), for which the shareholders will have the option to elect payment in either (i) new shares created at a discount of 7%, or (ii) cash. INVESTOR AND SHAREHOLDER RELATIONS CONTACTS Website: Investor relations: Tel: +33 (0) Financial services for shares and dividends: Crédit Agricole / Caisse d Epargne Investor Services (CACEIS) Service Emetteurs-Assemblées 14, rue Rouget de Lisle Issy-les-Moulineaux Cedex 9, France Tel: +33 (0) Fax: +33 (0)

Unibail-Rodamco: Innovative performance. 2012 ANNUAL and sustainable development report

Unibail-Rodamco: Innovative performance. 2012 ANNUAL and sustainable development report Unibail-Rodamco: Innovative performance 2012 ANNUAL and sustainable development report 02 Milestones 2012 Corporate The values which distinguish us 08 Interview with the CEO and the Chairman of the Management

More information

HIGHLIGHTS OPENING FALL 2017. 240 Mn investment. 64 000 m 2 retail GLA. 2 300 parking spaces, the biggest in the city center.

HIGHLIGHTS OPENING FALL 2017. 240 Mn investment. 64 000 m 2 retail GLA. 2 300 parking spaces, the biggest in the city center. HIGHLIGHTS 7 m 2 offices 64 m 2 retail GLA 24 Mn investment 2 3 parking spaces, the biggest in the city center 2 stores 8% of GLA dedicated to dining and leisure 2-screen cinema the largest in Wrocław

More information

Unibail-Rodamco Innovation driving _ growth ANNUAL AND SUSTAINABLE DEVELOPMENT REPORT 2013

Unibail-Rodamco Innovation driving _ growth ANNUAL AND SUSTAINABLE DEVELOPMENT REPORT 2013 Unibail-Rodamco Innovation driving _ growth ANNUAL AND SUSTAINABLE DEVELOPMENT REPORT 2013 Unibail-Rodamco is Europe's leading listed commercial property company. The Netherlands Nordics Germany France

More information

Corporate. Strategy. Activities. Sustainable development. Financial and legal information

Corporate. Strategy. Activities. Sustainable development. Financial and legal information 2011 Annual and sustainable development report Corporate 04 Profile 06 Message from the CEO & Chairman of the Management Board 08 Message from the Chairman of the Supervisory Board 10 2011 performance

More information

Strong half-year results - Increasing the recurring EPS outlook for 2015 to 10.25-10.45 (from 10.15-10.35 previously)

Strong half-year results - Increasing the recurring EPS outlook for 2015 to 10.25-10.45 (from 10.15-10.35 previously) Paris, Amsterdam, July 22, 2015 Press Release HALF-YEAR RESULTS 2015 Strong half-year results - Increasing the recurring EPS outlook for 2015 to 10.25-10.45 (from 10.15-10.35 previously) Recurring Earnings

More information

Corporate. Strategy. Activities. Sustainable development. Financial and legal information

Corporate. Strategy. Activities. Sustainable development. Financial and legal information 2010 Annual and sustainable development report Corporate 04 Profile 06 Message from the CEO 08 Message from the Chairman of the Supervisory Board 10 2010 performance 12 Stock market performance & shareholders

More information

Paris, Amsterdam, February 4, 2014. Press Release FULL-YEAR RESULTS 2013. Innovation Driving Growth

Paris, Amsterdam, February 4, 2014. Press Release FULL-YEAR RESULTS 2013. Innovation Driving Growth Paris, Amsterdam, February 4, 2014 Press Release FULL-YEAR RESULTS 2013 Innovation Driving Growth 2013 was an excellent year for Unibail-Rodamco, both operationally and financially. Recurring earnings

More information

Re-inventing the customer experience 2012 FULL-YEAR RESULTS

Re-inventing the customer experience 2012 FULL-YEAR RESULTS Re-inventing the customer experience 2012 FULL-YEAR RESULTS DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed

More information

Innovation Driving Growth 2013 FULL-YEAR RESULTS

Innovation Driving Growth 2013 FULL-YEAR RESULTS Innovation Driving Growth 2013 FULL-YEAR RESULTS DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed end property

More information

2011 Investor Days Unibail-Rodamco in Central Europe

2011 Investor Days Unibail-Rodamco in Central Europe 2011 Investor Days Unibail-Rodamco in Central Europe DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed end

More information

Accelerating differentiation 2012 HALF-YEAR RESULTS

Accelerating differentiation 2012 HALF-YEAR RESULTS Accelerating differentiation 2012 HALF-YEAR RESULTS TABLE OF CONTENTS 2012 half-year financial results and valuation Resilient operating performance Update on valuations Strong balance sheet Acquisition

More information

2009 full-year results

2009 full-year results 2009 full-year results Building the Future Cnit Paris La Défense TABLE OF CONTENTS RESULT 2009 2009 full-year financial results Operating performance Valuation Financial structure STRATEGY Capital recycling

More information

UNEXPECTED 2014. Annual and Sustainable Development Report

UNEXPECTED 2014. Annual and Sustainable Development Report UNEXPECTED 2014 Annual and Sustainable Development Report UNIBAIL-RODAMCO IS EUROPE S LEADING LISTED COMMERCIAL PROPERTY COMPANY NORDICS 9 SHOPPING CENTRES 55Mn visits per year OFFICES AND CONVENTION &

More information

2015 FULL-YEAR RESULTS

2015 FULL-YEAR RESULTS 2015 FULL-YEAR RESULTS DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed end property investment company. Unibail-Rodamco

More information

The strongest pipeline for future growth Olivier Bossard Chief Development Officer 2014 INVESTOR DAYS

The strongest pipeline for future growth Olivier Bossard Chief Development Officer 2014 INVESTOR DAYS The strongest pipeline for future growth Olivier Bossard Chief Development Officer 2014 INVESTOR DAYS SHAPING OUR PIPELINE FOR GROWTH FACTS & FIGURES Palma Springs, Palma de Mallorca 2014 INVESTOR DAYS

More information

Exceeding, Reshaping, Innovating 2014 FULL-YEAR RESULTS

Exceeding, Reshaping, Innovating 2014 FULL-YEAR RESULTS Exceeding, Reshaping, Innovating 2014 FULL-YEAR RESULTS DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed end

More information

2011 Annual Results Navigating the storm

2011 Annual Results Navigating the storm 2011 Annual Results Navigating the storm TABLE OF CONTENTS 2011 full-year financial results and valuation Strong operating performance in 2011 Defying gravity Assets in motion A prime quality and flexible

More information

Paris, Amsterdam, January 28, 2015 Press Release FULL-YEAR RESULTS 2014

Paris, Amsterdam, January 28, 2015 Press Release FULL-YEAR RESULTS 2014 Paris, Amsterdam, January 28, 2015 Press Release FULL-YEAR RESULTS 2014 Exceeding, Reshaping, Innovating "2014 has been synonymous with exceptional achievements for Unibail-Rodamco. Net recurring results

More information

PROFILE. 2009 annual report. Business Overview. Regional Review. Portfolio, Legal & Financial

PROFILE. 2009 annual report. Business Overview. Regional Review. Portfolio, Legal & Financial 2009 annual report unibail-rodamco / 2009 annual report 1 2 4 6 10 Profile Message from the CEO Message from the Chairman of the Supervisory Board Strategy & key figures Stock market performance & shareholding

More information

FINANCIAL REPORT First Half 2014

FINANCIAL REPORT First Half 2014 FINANCIAL REPORT First Half 2014 Business review and H1-2014 results p 2 Development projects as at June 30, 2014 p 15 Net Asset Value as at June 30, 2014 p 19 Financial resources p 28 EPRA Performance

More information

TABLE OF CONTENTS. 2010 Full-year results and valuation. Outperforming operational results. Further focus on high growth assets

TABLE OF CONTENTS. 2010 Full-year results and valuation. Outperforming operational results. Further focus on high growth assets 2010 Annual Results Back to growth TABLE OF CONTENTS 2010 Full-year results and valuation Outperforming operational results Further focus on high growth assets Acceleration of counter-cyclical development

More information

Corio s first nine months 2014 business update

Corio s first nine months 2014 business update Corio s first nine months business update Utrecht, 5 November HIGHLIGHTS - Footfall increased by 1.1% and tenant sales were stable, both on a like-for-like basis - Re-letting and renewals improved from

More information

Corio s first nine months 2013 update

Corio s first nine months 2013 update Corio s first nine months update Utrecht, 7 November Business update for the period 1 January 30 September Gerard Groener (CEO Corio): Since the implementation of our new strategic model at the start of

More information

Expanding and outperforming, yet again! 2014 HALF-YEAR RESULTS

Expanding and outperforming, yet again! 2014 HALF-YEAR RESULTS Expanding and outperforming, yet again! 2014 HALF-YEAR RESULTS DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed

More information

Press release first quarter figures 2010

Press release first quarter figures 2010 Press release first quarter figures 2010 VASTNED RETAIL REALISES DIRECT INVESTMENT RESULT OF 17.1 MILLION IN SPITE OF DIFFICULT LETTING MARKET; VALUE MOVEMENTS IN PROPERTY PORTFOLIO BACK INTO BLACK AFTER

More information

Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015

Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015 Press release Regulated information Embargo 13 May 2015 5.40 PM CREATING VALUE IN REAL ESTATE Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015 Acquisition

More information

Full year results 2011

Full year results 2011 Paris, Amsterdam, February 1, 2012 Press Release Full year results 2011 No 1 listed Property Company in Europe 25.9 billion property portfolio 9.03 recurring earnings per share (minus 2.6%) Net Asset Value

More information

METRO GROUP increases sales 2012 in a challenging consumer environment

METRO GROUP increases sales 2012 in a challenging consumer environment METRO GROUP increases sales in a challenging consumer environment Sales rose by 1.2% to 66.7 billion (adjusted for portfolio measures: +2.3%); EBIT before special items reached around 2.0 billion Operating

More information

First half results presentation. October 2006

First half results presentation. October 2006 First half results presentation October 2006 CONTENTS - Mines de la Lucette Group - First step of the strategy - Assets at 30 June 2006 - Consolidated financial statements at 30 June 2006 - Second step

More information

Press Release Corporate News Vienna, 18 March 2015

Press Release Corporate News Vienna, 18 March 2015 Press Release Corporate News Vienna, 18 March 2015 IMMOFINANZ with stable operating performance in the first three quarters, Net profit reduced New share buyback program resolved KEY FIGURES (in MEUR)

More information

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165 REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment properties

More information

Analyst meeting Full year results. Rotterdam 15 February 2013

Analyst meeting Full year results. Rotterdam 15 February 2013 Analyst meeting Full year results Rotterdam 15 February 2013 Portfolio & Strategy Focus on Netherlands and Belgium Exit strategy Switzerland; 70% assets sold; sale of 2 remaining assets ongoing High Yield

More information

2014 performances in line with targets

2014 performances in line with targets Limoges, February 12, 2015 2014 performances in line with targets Group development initiatives actively pursued On the closing of full-year accounts for 2014, Gilles Schnepp, Legrand Chairman and CEO,

More information

Recurring Earnings per Share (recurring EPS) at 10.46, exceeding the range of 10.15-10.35 per share guidance for 2015 provided in January 2015.

Recurring Earnings per Share (recurring EPS) at 10.46, exceeding the range of 10.15-10.35 per share guidance for 2015 provided in January 2015. Paris, Amsterdam, February 2 nd, 2016 Press Release FULL-YEAR RESULTS 2015 Another successful year for the Group Recurring Earnings per Share (recurring EPS) at 10.46, exceeding the range of 10.15-10.35

More information

2008 annual results. Presentation on 18 February 2009

2008 annual results. Presentation on 18 February 2009 2008 annual results Presentation on 18 February 2009 1 2008: Continued growth Sustained business activity Lettings up by 9% in a market down 14%, including the pre-letting of two buildings under construction

More information

2010 Half-Year Results

2010 Half-Year Results 1 2010 Half-Year Results 1 1 Summary 2 1 Introduction A promising first half Sharp rise in residential take-up Tenant sales improving Two shopping centres delivered 95% let Acquisition of Cap 3000 Change

More information

PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING

PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING PRESS RELEASE GENERAL SHAREHOLDERS MEETING Ana Botín: Santander is well positioned to face the challenges. We will lead change Banco Santander has room for growth within our customer base and in our ten

More information

2014 Half-year results Start of the acquisition phase

2014 Half-year results Start of the acquisition phase Press release 2014/07/23 2014 Half-year results Start of the acquisition phase The Board of Directors' meeting held on July 23, 2014 under the chairmanship of March Inch approved the half-yearly accounts

More information

Equity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165

Equity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165 REPORT Q1/2015 KEY FIGURES Amounts in NOK million Q1 2015 Q1 2014 31.12.14 Net rental income 503 454 1 883 Fair value adjustments in investment properties and interest rate derivatives 1 294-9 281 Profit

More information

t 2008 epor ual R n n A 1

t 2008 epor ual R n n A 1 Annual Report 2008 1 UnibailRodamco Annual Report 2008 1 3 4 6 Profi le Message from the CEO Message from the Chairman of the Supervisory Board Key fi gures UnibailRodamco is the leading listed European

More information

MEASURING OUR PERFORMANCE

MEASURING OUR PERFORMANCE MEASURING OUR PERFORMANCE Our objective is to provide above average long-term returns to shareholders through the execution of our strategy. In order to measure the effectiveness of the different strands

More information

A strong third quarter

A strong third quarter A strong third quarter Interim presentation for the third quarter 2015 Stockholm, 5 November 2015 Anders Nissen, CEO Liia Nõu, CFO Today s agenda Introduction Financial review Business model and value

More information

Essentials2020, Orange s new strategic plan

Essentials2020, Orange s new strategic plan Press release Paris, 17 March 2015 Essentials2020, Orange s new strategic plan Orange presented its new strategic plan to 2020 today, called Essentials2020 building on the Conquests 2015 plan launched

More information

FINANCIAL REPORT First Half 2015

FINANCIAL REPORT First Half 2015 FINANCIAL REPORT First Half 2015 Business review and H1-2015 results p 2 Development projects as at June 30, 2015 p 17 Net Asset Value as at June 30, 2015 p 21 Financial resources p 31 EPRA Performance

More information

12 May 2016. The Manager Company Announcements Office ASX Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000.

12 May 2016. The Manager Company Announcements Office ASX Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000. The Manager Company Announcements Office ASX Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Westfield Corporation Level 29 85 Castlereagh Street Sydney NSW 2000 GPO Box 4004 Sydney NSW

More information

EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2014

EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2014 27 January 2015 easyjet Trading Statement Page 1 of 7 A. HIGHLIGHTS: EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2014 Drive demand, conversion and yields across Europe Seats flown grew

More information

European Retail Guide. Shopping Centres March 2012

European Retail Guide. Shopping Centres March 2012 European Retail Guide Shopping Centres March 2012 // Introduction These challenging markets for retail property present a special opportunity to be well positioned for the recovery that will come. We

More information

The High Street of Bratislava

The High Street of Bratislava The High Street of Bratislava Key Facts Aupark turns into Park West Transformation completed: 2015 70,359 sqm GLA 250 units 12-screen multiplex cinema 2,250 parking spaces 151,000 vehicles/day pass by

More information

PRESS RELEASE EUROCOMMERCIAL PROPERTIES N.V. NINE MONTHS RESULTS 2015/2016

PRESS RELEASE EUROCOMMERCIAL PROPERTIES N.V. NINE MONTHS RESULTS 2015/2016 Date: 13 May 2016 Release: Before opening of Euronext Amsterdam PRESS RELEASE EUROCOMMERCIAL PROPERTIES N.V. NINE MONTHS RESULTS 2015/2016 Direct investment result and overall annual retail sales turnover

More information

FINANCE AVENUE 14.11.2015. Aspria Uhlenhorst Hamburg (DE)

FINANCE AVENUE 14.11.2015. Aspria Uhlenhorst Hamburg (DE) FINANCE AVENUE 14.11.2015 Aspria Uhlenhorst Hamburg (DE) TABLE OF CONTENTS - Company Profile & Strategy - Healthcare Real Estate - Offices - Outlook 2 COMPANY PROFILE & STRATEGY Nursing Home Orchidée Ittre

More information

Marina Bay Sands. George Tanasijevich President and CEO of Marina Bay Sands

Marina Bay Sands. George Tanasijevich President and CEO of Marina Bay Sands Marina Bay Sands George Tanasijevich President and CEO of Marina Bay Sands MBS Starts Strong and Continues to Ramp Marina Bay Sands Starts Strong and Continues to Ramp Adjusted Property EBITDA and Adjusted

More information

THE ART OF COMMERCIAL REAL ESTATE

THE ART OF COMMERCIAL REAL ESTATE THE ART OF COMMERCIAL REAL ESTATE SM art (art) 1. The use of skill and imagination in the creation of aesthetic objects, environments, or experiences that can be shared with others. A Leader in Commercial

More information

Guildford Institute Strategic Plan to 2020

Guildford Institute Strategic Plan to 2020 Guildford Institute Strategic Plan to 2020 Foreword The objects of the Institute are set out in its Memorandum of Association [Art3]. They may be summarised as follows: To promote and advance the education

More information

EUROPEAN LISTED PROPERTY COMPANIES PROGRESS TOWARDS CUSTOMER FOCUS

EUROPEAN LISTED PROPERTY COMPANIES PROGRESS TOWARDS CUSTOMER FOCUS EUROPEAN PUBLIC REAL ESTATE ASSOCIATION EUROPEAN LISTED PROPERTY COMPANIES PROGRESS TOWARDS CUSTOMER FOCUS Study commissioned by EPRA and conducted by RealService September 2012 EXECUTIVE SUMMARY Owners

More information

Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy

Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy Press release February 18, 2015 Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy Growth in revenue: up 3.8% like-for-like 1 to 5,454 million

More information

AXA INVESTMENT MANAGERS

AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS Entering a new phase of growth Investor Day November 20, 2014 Andrea ROSSI CEO AXA Investment Managers Member of the AXA Group Executive Committee Certain statements contained herein

More information

Sustainability report 2014

Sustainability report 2014 Sustainability report 2014 Meeting the needs of the present without compromising long-term viability Our purpose Vastint Holding B.V. is the holding company within the Inter IKEA Property Division. It

More information

MARIANNE BRUCY, INTERNATIONAL & BUSINESS DEVELOPMENT DIRECTOR AT SHOWROOMPRIVE: WE CREATE CAMPAIGNS THAT RESPOND TO BRANDS' NEEDS

MARIANNE BRUCY, INTERNATIONAL & BUSINESS DEVELOPMENT DIRECTOR AT SHOWROOMPRIVE: WE CREATE CAMPAIGNS THAT RESPOND TO BRANDS' NEEDS emarket Services makes it easier to use emarkets for international business MARIANNE BRUCY, INTERNATIONAL & BUSINESS DEVELOPMENT DIRECTOR AT SHOWROOMPRIVE: WE CREATE CAMPAIGNS THAT RESPOND TO BRANDS' NEEDS

More information

14th World Congress of Endoscopic Surgery - WCES 2014. 25 to 28 June 2014 Paris France

14th World Congress of Endoscopic Surgery - WCES 2014. 25 to 28 June 2014 Paris France 14th World Congress of Endoscopic Surgery - WCES 2014 25 to 28 June 2014 Paris France As Official Housing Partner we offer you : Negotiated rates for your stay in Paris No booking fees A dedicated team

More information

Best Practices Recommendations Additional Guidance January 2014

Best Practices Recommendations Additional Guidance January 2014 Best Practices Recommendations Additional Guidance January 2014 Best Practices Recommendations Additional Guidance Contents 1. Introduction 2. General Recommendations 3. EPRA Earnings 4. EPRA NAV 5. EPRA

More information

MAPIC Awards. Entrant Guide. Gala Dinner Thursday 19 November 2015

MAPIC Awards. Entrant Guide. Gala Dinner Thursday 19 November 2015 MAPIC Awards 2015 Entrant Guide Gala Dinner Thursday 19 November 2015 ABOUT THE MAPIC AWARDS Created in 1996, the MAPIC Awards is a competition that rewards excellence, innovation and creativity in the

More information

PURPLE FLAG FOR BETTER TOWN CENTRES AT NIGHT

PURPLE FLAG FOR BETTER TOWN CENTRES AT NIGHT PURPLE FLAG FOR BETTER TOWN CENTRES AT NIGHT Purple Flag will be the new gold standard for entertainment and hospitality zones at night. It builds on the experience of The Civic Trust s NightVision programme

More information

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe EMEA Office July 2015 LARGE OFFICE SPACE Where to find 5,000 sq m in Europe HIGHLIGHTS The availability of large office premises has reduced by 12% year-on-year Choice is limited - only 19% of options

More information

SCA PROPERTY GROUP ANNOUNCES FIRST HALF FY16 RESULTS

SCA PROPERTY GROUP ANNOUNCES FIRST HALF FY16 RESULTS ASX / MEDIA ANNOUNCEMENT 8 February 2016 SCA PROPERTY GROUP ANNOUNCES FIRST HALF FY16 RESULTS SCA Property Group (ASX: SCP) ( SCP or the Group ) is pleased to announce its results for the six months ended

More information

60% 7% 16% 8% (1) Including transfer taxes.

60% 7% 16% 8% (1) Including transfer taxes. Annual report 2007 (1) Including transfer taxes. Nice étoile UNIBAIL-RODAMCO /// BUSINESS REVIEW AND 2007 RESULTS 02-03 04-05 06-07 08-09 10-11 12-25 26-27 28-29 30-33 32-33 34-39 40-61 62-0 64-67 68-70

More information

AMP House Launch Second Phase of Managed Office Suites

AMP House Launch Second Phase of Managed Office Suites Distributed throughout the London Boroughs July2013 TV.co.uk AMP House Launch Second Phase of Managed Office Suites June saw us celebrate four uninterrupted years of quality broadcasting and we are determined

More information

Real Estate Clients. For more information on HSH Nordbank Hypo s business, please refer to pages 58 and 59.

Real Estate Clients. For more information on HSH Nordbank Hypo s business, please refer to pages 58 and 59. 31 Real Estate Clients HSH Nordbank is one of the most sought-after providers of finance on the German real estate market. Backed by our extensive specialist skills in financial services for all aspects

More information

Acquisition of Parque Principado, Oviedo, Spain. 7 October 2013

Acquisition of Parque Principado, Oviedo, Spain. 7 October 2013 Acquisition of Parque Principado, Oviedo, Spain 7 October 2013 Acquisition of Parque Principado, Oviedo, Spain Contents Introduction David Fischel, Chief Executive Parque Principado, Oviedo Martin Breeden,

More information

NEW VISION NEW STRATEGY NEW OPPORTUNITIES

NEW VISION NEW STRATEGY NEW OPPORTUNITIES NEW VISION NEW STRATEGY NEW OPPORTUNITIES PARIS LA DÉFENSE, CREATING SUSTAINABLE APPEAL CREATING A DISTRICT WITH SUSTAINABLE APPEAL Today, Paris La Défense is Europe s largest business hub. The district

More information

CPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects

CPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects CPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects Corporate highlights Annual General Meeting of 28 May 2015 The Annual General Meeting

More information

Aspen Group Records Strong 2008 Financial Result

Aspen Group Records Strong 2008 Financial Result Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Level 8, Septimus Roe Square 256 Adelaide Terrace, Perth Western Australia, 6000 Telephone: 08 9220 8400 Facsimile: 08 9220

More information

Wereldhave reaps the benefits of its focus on mid-sized shopping centres: sees strong profit rise in H1 2015 and raises 2015-2016 target.

Wereldhave reaps the benefits of its focus on mid-sized shopping centres: sees strong profit rise in H1 2015 and raises 2015-2016 target. Press release Results first half 2015 Wereldhave reaps the benefits of its focus on mid-sized shopping centres: sees strong profit rise in H1 2015 and raises 2015-2016 target. Net profit H1 2015 90.5m

More information

VMob Group Limited. Unaudited Interim Report. For the 6 months ended 30 September 2014

VMob Group Limited. Unaudited Interim Report. For the 6 months ended 30 September 2014 Unaudited Interim Report For the 6 months ended 30 September 2014 Directors Report The last six months has continued to be a period of growth and development for the Company, highlighted by a number of

More information

Speech at the annual press conference on the 2010 financial year Bonn, February 25, 2011

Speech at the annual press conference on the 2010 financial year Bonn, February 25, 2011 The spoken word shall prevail Speech at the annual press conference on the 2010 financial year Bonn, February 25, 2011 Timotheus Höttges Chief Financial Officer Deutsche Telekom AG Thank you, René Obermann!

More information

Customer Engagement FY15. 1. Introduction. 2. Customer Engagement. 3. Management Approach

Customer Engagement FY15. 1. Introduction. 2. Customer Engagement. 3. Management Approach 1. Introduction This document forms part of our Disclosures on Management Approach (DMA) series, prepared in accordance with the Global Reporting Initiative s G4 Guidelines. The DMA series is designed

More information

Zalando - Europe's market leader in fashion ecommerce. April 2013

Zalando - Europe's market leader in fashion ecommerce. April 2013 Zalando - Europe's market leader in fashion ecommerce April 2013 Zalando is driving a mega trend, bringing fashion ecommerce to Europe Mega trend: Online fashion is the second wave of ecommerce, following

More information

Ref: B15.01 Eumedion response draft revised OECD principles on corporate governance

Ref: B15.01 Eumedion response draft revised OECD principles on corporate governance Organisation for Economic Co-operation and Development (OECD) Corporate Governance Committee 2, rue André Pascal 75775 Paris Cedex 16 France The Hague, 2 January 2015 Ref: B15.01 Subject: Eumedion response

More information

PRESS RELEASE Paris, 20 February 2014

PRESS RELEASE Paris, 20 February 2014 DIRECTION DE LA COMMUNICATION SERVICE DE PRESSE PRESS RELEASE Paris, 20 February 2014 LE GROUPE LA POSTE 2013 2 ANNUAL RESULTS Consolidated revenue: 22,084 million up 2 % (+1 % at constant structure and

More information

Financial Review +0.3 % -14 % The Group s adjusted net asset value. The Group s underlying earnings ADJUSTED NAV. HK$39,627m UNDERLYING EARNINGS

Financial Review +0.3 % -14 % The Group s adjusted net asset value. The Group s underlying earnings ADJUSTED NAV. HK$39,627m UNDERLYING EARNINGS Performance and Outlook Financial Review The financial details outlined in this chapter provide an overview of the Group s consolidated results and financial capital as categorised by the International

More information

zanox Mobile Performance Barometer 2013: Europe is still playing it big in m-commerce no levelling effect in sight yet

zanox Mobile Performance Barometer 2013: Europe is still playing it big in m-commerce no levelling effect in sight yet zanox Mobile Performance Barometer 2013: Europe is still playing it big in m-commerce no levelling effect in sight yet Outstanding growth rates: 64% in mobile transactions, even 95% in mobile revenues

More information

ESG Integration - our approach. Nordea Asset Management

ESG Integration - our approach. Nordea Asset Management ESG Integration - our approach Nordea Asset Management Table of Contents Our mission 5 Nordea Asset Management 6 ESG and the investment process 8 Our ESG products 11 3 4 Our mission is to deliver returns

More information

Foundation Science International Programme

Foundation Science International Programme Foundation Science International Programme www.ecetravel.com enquiries@ecetravel.com +44 (0)20 8295 8620 FOUNDATION OF SCIENCE 14 DAYS From the organisers of the London International Youth Science Forum

More information

Contents. 2013 in figures. Company History. Message from the Presidents. Groupe Open on the stock market. Activity.

Contents. 2013 in figures. Company History. Message from the Presidents. Groupe Open on the stock market. Activity. Annual Report 2013 This legal document was submitted to the Autorité des Marchés Financiers on the XX 2011, in accordance with Article 212-13 of the AMF s general regulations. It may be used for the purposes

More information

THE REGION S PREMIER PARTNER FOR HOTELS RESIDENTIAL SERVICED OFFICES & RETAIL VENTURES.

THE REGION S PREMIER PARTNER FOR HOTELS RESIDENTIAL SERVICED OFFICES & RETAIL VENTURES. THE REGION S PREMIER PARTNER FOR HOTELS RESIDENTIAL SERVICED OFFICES & RETAIL VENTURES. www.tfgassetmanagement.com +971 4 455 0100 APPRECIATING PROPERTIES TFG ASSET MANAGEMENT MANAGES OVER 3,000 UNITS

More information

Betting stakes of EUR 74.0m for the nine months up 28% 19% compared to EUR 9.8m in the same period last year.

Betting stakes of EUR 74.0m for the nine months up 28% 19% compared to EUR 9.8m in the same period last year. Betbull Holding SE, formerly Betbull plc ( Betbull ) announces the release of group consolidated unaudited financial statements for the 9 months ended 30 September 2008 1. Financial highlights for the

More information

Design shops at Gabriel s Wharf

Design shops at Gabriel s Wharf Design shops at Gabriel s Wharf Gabriel s Wharf is located by the river just a minute s walk from Oxo Tower Wharf on London s vibrant South Bank. Gabriel s Wharf is home to thirteen independent design

More information

Land Securities Group PLC ( Land Securities / the Group / the Company )

Land Securities Group PLC ( Land Securities / the Group / the Company ) Press Release 19 January 2010 Land Securities Group PLC ( Land Securities / the Group / the Company ) THIRD QUARTER INTERIM MANAGEMENT STATEMENT In the third quarter Land Securities continued to focus

More information

SUCCESS OF THE OFFER TO CREATE THE LEADING PAN-EUROPEAN COMMERCIAL PROPERTY COMPANY: 80% of Rodamco Shares tendered to the offer of Unibail

SUCCESS OF THE OFFER TO CREATE THE LEADING PAN-EUROPEAN COMMERCIAL PROPERTY COMPANY: 80% of Rodamco Shares tendered to the offer of Unibail SUCCESS OF THE OFFER TO CREATE THE LEADING PAN-EUROPEAN COMMERCIAL PROPERTY COMPANY: 80% of Rodamco Shares tendered to the offer of Unibail UNIBAIL DECLARES THE EXCHANGE OFFER FOR ALL OUTSTANDING SHARES

More information

Economic Development Element

Economic Development Element The Strawberry Ladies by Tara Stood Economic Development Element Economic development enhances San Clemente s quality of life by providing local goods and services and expanding employment and business

More information

MAKING YOUR PROJECTS REAL SOCIETE GENERALE EQUIPMENT FINANCE AT A GLANCE

MAKING YOUR PROJECTS REAL SOCIETE GENERALE EQUIPMENT FINANCE AT A GLANCE 2013 MAKING YOUR PROJECTS REAL SOCIETE GENERALE EQUIPMENT FINANCE AT A GLANCE Our profile We, Societe Generale Equipment Finance, are part of the French banking group Societe Generale and are a leading

More information

Institutional Investors and Austrian Stocks in 2014

Institutional Investors and Austrian Stocks in 2014 Institutional Investors and Austrian Stocks in 2014 Institutional Investors and Austrian Stocks in 2014 International institutional investors remain the largest stakeholders in the ATX prime, having increased

More information

Corporate Governance Statement 21 October 2015

Corporate Governance Statement 21 October 2015 Minotaur Exploration Limited (the Group) and its Board adheres to superior standards of corporate governance. The Board reviews the governance framework and practices to ensure they meet the interests

More information

Property Data Report

Property Data Report Property Data Report Introduction This document sets out some key facts about commercial property, a sector which makes up a major part of the UK economy in its own right, as well as providing a platform

More information

Chief Executive and Principal

Chief Executive and Principal Chief Executive and Principal Starting school year 2015 2016 Internationally JSD Essentials British 1 Chief Executive and Principal Starting school year 2015 2016 The British School in The Netherlands

More information

BNP PARIBAS INVESTMENT SOLUTIONS Savings, investment and insurance for all our clients needs

BNP PARIBAS INVESTMENT SOLUTIONS Savings, investment and insurance for all our clients needs BNP PARIBAS INVESTMENT SOLUTIONS Savings, investment and insurance for all our clients needs INVESTMENT SOLUTIONS EXECUTIVE COMMITTEE We would like to thank our 26,160 employees around the world for their

More information

2014 HALF-YEARLY RESULTS

2014 HALF-YEARLY RESULTS 2014 HALF-YEARLY RESULTS Continued revenue growth Run rate for bank card collections in excess of 560 million Strategic investment initiative is maintained Brussels, 30 July 2014, 7:30 AM Regulated information

More information

ACCELERATING THE TRANSFORMATION

ACCELERATING THE TRANSFORMATION Paris, September 12, 2011 ACCELERATING THE TRANSFORMATION SOCIETE GENERALE: THE HARD FACTS GIIPS: we have a low, declining and manageable sovereign exposure of EUR 4.3 billion Legacy assets: we accelerated

More information

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability 2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth

More information

2014 HALF YEAR RESULTS 4 September 2014

2014 HALF YEAR RESULTS 4 September 2014 862m H1 2014 Revenues 2014 HALF YEAR RESULTS 4 September 2014 57% of Revenues for International in H1 2014 21,657 Employees In H1 2014 Disclaimer This presentation contains forward-looking statements (as

More information

Conférence Nantes 2014. 31 mars 2014 A l écoute des actionnaires

Conférence Nantes 2014. 31 mars 2014 A l écoute des actionnaires Conférence Nantes 2014 31 mars 2014 A l écoute des actionnaires 1 Contents A Leading Real Estate Player in Regions Page 03 An Accelerated Realignment Strategy Page 10 Shifting from Managing Existing Assets

More information