Unibail-Rodamco-Westfield (OTCPK:UNBLF)
$ 89.73 3.215 (3.72%) Market Cap: 12.05 Bil Enterprise Value: 36.43 Bil PE Ratio: 0 PB Ratio: 0.64 GF Score: 52/100
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Unibail-Rodamco-Westfield SE Reset Plan Call Transcript

Sep 17, 2020 / 07:00AM GMT
Release Date Price: $43.27 (-7.94%)
Christophe Cuvillier

Good morning, and thank you for making yourselves available. While we believe that we've been able to take the required steps to deal with this phase of COVID-19, it is not yet over and the pandemic has accelerated long-standing trends. We now need to make sure that we take the steps required to best position the firm for the future.

What we're announcing today is a comprehensive large scale, EUR 9-plus billion plan, the RESET plan. This plan is designed to strengthen our capital structure in the long term, secure uninterrupted access to the debt markets and best position the group to adapt to a fast-changing environment.

We will also today provide an update on our performance since H1 2020 in terms of footfall, tenant sales and rent collection. As outlined in our H1 presentation, since the crisis hit the retail sector, we've moved fast to mitigate its impact. We have focused on tenant negotiations in a pragmatic and positive dialogue for all while making solid progress with rent collection, which is improving month after month.

Footfall and tenant sales trends

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