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Unibail-Rodamco Q1 Revenues Up 45%

French real estate company Unibail-Rodamco SE (UNBLF, UNRDY), Wednesday reported first-quarter turnover of 777.4 million euros, up 45.1% from 535.7 million euros last year.

The company said revenues were driven largely by the acquisition of Westfield Corporation.

The Shopping Centre turnover grew 37.6% to 514.4 million euros. Turnover in the Convention & Exhibition division rose 8.6% to 100.5 million euros, while office segment revenues dropped 30.8% to 27.0 million euros.

Looking forward to 2019, the company confirmed adjusted recurring earnings guidance of 11.80 to 12.00 euro per share.

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