Unibail-Rodamco-Westfield (XAMS:URW)
€ 49.68 0 (0%) Market Cap: 6.90 Bil Enterprise Value: 29.97 Bil PE Ratio: 0 PB Ratio: 0.64 GF Score: 38/100
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Q2 2019 Unibail-Rodamco-Westfield SE Earnings Call Transcript

Jul 31, 2019 / 04:30PM GMT
Release Date Price: €121 (-3.39%)
Christophe Cuvillier
Unibail-Rodamco-Westfield - Group CEO & Chairman of Management Board

Good evening, everyone, and welcome to our H1 2019 presentation. You will see we delivered solid results despite a somewhat challenging retail environment, made great progress in delivering our strategy of concentration, differentiation and innovation, and we are starting to see the positive impact of the Westfield transaction.

I will start with the global financial results at group level. Please bear in mind that we have been operating as one group, Unibail-Rodamco-Westfield from the completion of Westfield acquisition on June 7, 2018. So for the results at group level, we're comparing 6 months as URW this year, to just one month last year.

The like-for-like perimeter therefore, only compares to the former Unibail-Rodamco perimeter in Continental Europe. The adjusted AREPS for H1 2019 reached EUR 6.45 versus EUR 6.58 in H1 2018, a decrease of minus 1.9% mainly due to the impact of the 2018 and 2019 disposals. Restated for these disposals, AREPS growth would be plus 3.7%. The like-for-like NRI

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