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

Full Year 2022 Unibail-Rodamco-Westfield SE Earnings Call Transcript

Feb 09, 2023 / 09:00AM GMT
Release Date Price: €62.07 (+0.76%)
Jean;Marie Tritant
Unibail-Rodamco-Westfield SE - Chairman of the Management Board & Group CEO

Good morning, and welcome to Unibail-Rodamco-Westfield's 2022 Full Year Results Presentation.

In 2022, our strong operations and continued deleveraging provided a powerful platform for progress against all of our strategic objectives. Our group-wide performance drove increased earnings which, combined with EUR 2.8 billion of European and U.S. disposals, has translated into improved credit metrics and a net debt-to-EBITDA ratio lower than 2019 levels. This performance is reflected in consistently-increasing operating metrics, also now at 2019 levels, demonstrating the full recovery of our business.

Commercial Partnerships revenues increased 51% versus 2021, slightly above 2019, and we achieved strong growth in media advertising and brand experience. Our Convention & Exhibition activity has rebounded strongly, and our Office division delivered a 20% like-for-like increase in NRI.

We continued our strong ESG performance and are on track to achieve all of our

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