Unibail-Rodamco Q1 Revenue Plunges 42%

(RTTNews) - French real estate company Unibail-Rodamco SE (UNBLF, UNRDY), Wednesday reported first-quarter turnover of 452.2 million euros, down 42.8% from 790.3 million euros last year.

The proportionate turnover for the first quarter was 566.7 million euros, down 40.8% from 956.6 million euros last year.

The company said revenue decrease reflect the impact of the prolonged COVID-19 restrictions and the impact of the 2020 disposals.

The Shopping Centre plunged 30.1% to 360.6 million euros. Turnover in the Convention & Exhibition division tanked 83.3% to 11.5 million euros, while office segment revenues dropped 33.7% to 17.4 million euros.