French real estate company Unibail-Rodamco-Westfield (UNBLF, UNRDY) Thursday reported nine-month revenues of 2.415 billion euros, up 4% from 2.321 billion euros last year.
Shopping centers inched up 0.8% to 1.838 billion euros, while office and others gained 19.7% 97.5 million euros. Convention and exhibition surged 48.8% to 318.6 million euros, while property services and other activities revenues gained 5% to 126.6 million euros.
Commenting on the results, Jean-Marie Tritant, Chief Executive Officer, said:
"Thanks to continued strong operating performance, with a positive turnover trend across all activities, URW now expects to meet the higher end of its earnings guidance for 2024. This performance is supported by a dynamic leasing activity as retailers' sales continue to be strong in URW's shopping centres. It also reflects the growth of our European retail media activity, on track to achieve €75 million of net margin this year."
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