Unibail-Rodamco-Westfield SE (UNBLF.PK), Thursday announced financial results for the first nine months of the year, reporting proportionate turnover of 2.688 million euros, down 5.3 percent from last year's 2.839 billion euros.
The decline in proportionate turnover was mainly due to disposals completed, negative FX impact as well as the seasonality effects and the positive impact of the Olympics in 2024 on the C&E business.
Total gross rental income decreased to 2.102 billion euros from 2.178 billion euros in the previous year.
Concurrently, the company announced the acquisition of 25 percent interest in St James Quarter, a landmark mixed-use destination in Edinburgh. The financial details of the deal were not disclosed.
The company plans to rebrand the centre as a Westfield destination in 2026, expecting to leverage its operational capabilities, as well as generate an additional income.
Additionally, the Board has announced the appointment of Vincent Rouget as Chief Executive Officer and Chairman of the Management Board, effective January 1. He will succeed Jean-Marie Tritant, who made the succession plan to secure long-term leadership continuity beyond 2028.
Currently, UNBLF is trading at $104.65, down 0.19 percent on the OTC Markets.
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