Unibail-Rodamco-Westfield 9-Month Revenues Up 3.7%

(RTTNews) - French real estate company Unibail-Rodamco-Westfield (UNBLF, UNRDY) Thursday reported nine-month revenues of 2.321 billion euros, up 3.7% from 2.238 billion euros last year.

Shopping centers rose 6% to 1.823 billion euros, while office and others gained 12.4% 81.4 million euros. Convention and exhibition rose 5.6% to 214.1 million euros, while property services and other activities revenues gained 5.3% to 120.5 million euros.

Commenting on the results, CEO Jean-Marie Tritant, stated: "Our results for the first nine months of 2023 demonstrate the continued strong operational performance of our Shopping Centres, with higher tenant sales and footfall and a +8.4% uplift in Minimum Guaranteed Rent on a record high leasing activity. This led to a like-for-like Group turnover growth of +11.7%, which was also supported by the performance of Offices and our Convention & Exhibition activities."