Latest news with #Klepierre
Business Insider
3 days ago
- Business
- Business Insider
Berenberg Bank Remains a Buy on Klepierre (ex Compagnie Fonciere Klepierre) (0F4I)
Berenberg Bank analyst Kai Klose maintained a Buy rating on Klepierre (ex Compagnie Fonciere Klepierre) on July 17 and set a price target of €37.50. The company's shares closed last Friday at €32.60. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Klose covers the Real Estate sector, focusing on stocks such as T Immobilien, Vonovia, and MERCIALYS. According to TipRanks, Klose has an average return of -3.1% and a 47.28% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Klepierre (ex Compagnie Fonciere Klepierre) with a €35.07 average price target.
Yahoo
13-02-2025
- Business
- Yahoo
Klepierre (KLPEF) (FY 2024) Earnings Call Highlights: Strong Financial Performance and ...
Net Current Cash Flow per Share: EUR2.60, a 5.3% year-on-year increase, and 5% above initial guidance. Total Accounting Return: 15% with an MTA growth of 8.9%. EBITDA Increase: 6.9%, with a 70 basis points improvement in EBITDA margin. Like-for-Like Net Rental Income Growth: 6.3%, outperforming indexation by 350 basis points. Extra Revenues Growth: 8.4% on a like-for-like basis. Footfall Increase: 2.5% year-on-year and 7.5% since January 2023. Retailer Sales Increase: 4% year-on-year. Leasing Deals: 4% more deals signed than in 2023, with a 4% rental uplift on renewals and re-lettings. Occupancy Rate: Increased by 50 basis points to 96.5%. Occupancy Cost Ratio: Improved to 12.6%. Rental Income Growth: 15% over the last two years. EBITDA Growth: 17% over the last two years. Net Current Cash Flow Growth: 16% over the last two years. Proposed Cash Distribution: EUR1.85 per share, up 3% from last year. Average Cost of Debt: 1.7% in 2024. Debt Maturity: Average maturity of 5.9 years with EUR255 million to refinance in 2025. EPRA NTA Growth: 8.9% to EUR32.8 per share in 2024. Investment Volumes in Retail: Up 21% compared to 2023. Disposals: EUR144 million, 38% above book values. Net Debt to EBITDA Ratio: Historic low of 7.1. Interest Coverage Ratio: 7.4. Loan-to-Value Ratio: 36.5%, down 150 basis points over one year. Credit Ratings: S&P BBB+ with positive outlook; Fitch A-Senior unsecured with stable outlook. GRESB Ranking: First worldwide in listed retail category, score of 95 out of 100. Warning! GuruFocus has detected 8 Warning Signs with KLPEF. Release Date: February 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Klepierre (KLPEF) reported a 5.3% year-on-year increase in net current cash flow per share, exceeding initial guidance. The company achieved a 6.9% EBITDA increase, supported by a 70 basis points improvement in EBITDA margin. Occupancy rates improved to 96.5%, with a 50 basis points increase, indicating strong leasing demand. Klepierre (KLPEF) maintained a low average cost of debt at 1.7% in 2024, with limited refinancing needs in 2025. The company was recognized for its leadership in sustainability, ranking first worldwide in the listed retail category by GRESB. Despite strong performance, the guidance for 2025 shows only a 3% EBITDA growth, which may seem conservative. The company faces increased interest costs in 2025, impacting overall financial performance. Klepierre (KLPEF) has limited opportunities for rapid expansion due to stringent permitting processes for new projects. The investment market is becoming more competitive, potentially reducing opportunities for high-yield acquisitions. There is a cautious approach to capital allocation, with a focus on maintaining a strong balance sheet rather than aggressive expansion. Q: What is the outlook for indexation and like-for-like rental growth in 2025? A: Jean-Marc Jestin, Chairman of the Executive Board, stated that they expect indexation to be around 1.5% across the portfolio for 2025, with rental growth guidance at 3%, matching the EBITDA growth forecast. Q: Could you give us the average cost of debt for 2025? A: Jean-Marc Jestin mentioned that Klepierre has limited refinancing needs in 2025, with only one bond maturing in October for $255 million. The company is fully hedged for interest rates in 2025, expecting the average cost of debt to be between 1.9% and 2%. Q: Can you provide more details on your capital allocation and investment market outlook? A: Jean-Marc Jestin explained that while they do not provide guidance on acquisitions or disposals, the investment market has improved significantly. They focus on high-quality, dominant properties in large cities. Their firepower to maintain their rating is around EUR700 million. Q: How conservative is your 2025 guidance, given your 2024 performance? A: Jean-Marc Jestin emphasized that Klepierre prefers to provide positive surprises to shareholders. They enter 2025 with optimism, expecting 3% EBITDA growth with only 1.5% indexation, and feel comfortable with their guidance. Q: Are there any plans for further disposals? A: Stephane Tortajada, CFO, stated that Klepierre has disposed of close to EUR2 billion of non-core assets over the last four years. They plan to continue disposing of small non-core assets opportunistically, with an average of EUR100 million per year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
