Klépierre Releases First-Half 2025 Financial Report

Klépierre has released its first-half 2025 financial report, which can be viewed on its website. The report covers the company's financial performance and includes information on its European shopping mall portfolio valued at €20.6 billion. Klépierre is a French REIT listed on Euronext Paris and is included in several ethical indexes, highlighting its commitment to sustainable development and climate change mitigation.

Klépierre, the leading shopping mall pure player in continental Europe, has released its first-half 2025 financial report, reflecting robust growth and strong financial health. The report, available on Klépierre's website, provides insights into the company's performance and its €20.6 billion European shopping mall portfolio [1].

Financial Highlights

The company reported a 5.3% year-on-year increase in net rental income, driven by like-for-like growth of 3.5% and the impact of acquisitions completed in 2024. EBITDA, a measure of operating performance, grew by 6.0% year-on-year, significantly exceeding the growth in rental income. This was achieved through a highly cost-efficient approach, despite a slight increase in financial expenses [1].

Leasing and Market Share Gains

Klépierre's leasing momentum was strong, with a 4.1% rental uplift on renewals and relettings. The occupancy rate reached 97.0% as of June 30, 2025, up by 80 basis points year-on-year. This momentum was reflected in market share gains, with footfall increasing by 2.5% in the first half and retailer sales growing by 3.5%, double the rate of national retail sales indices [1].

Cash Flow and Portfolio Valuation

The company's net current cash flow per share increased to €2.65-€2.70, with a 5.3% year-on-year increase. EPRA Net Tangible Assets (NTA) per share rose by 4.6% compared to December 31, 2024, driven by a 2.6% like-for-like portfolio value appreciation over six months. The average EPRA Net Initial Yield (NIY) ended the period at 5.7% [1].

Capital Allocation and Acquisitions

Klépierre raised €505 million in financing over the first half with an average maturity of five years and a highly competitive blended yield of 2.85%. The company's disciplined approach to capital allocation resulted in significant growth from acquisitions, with net rental income at RomaEst and O’Parinor increasing by 25% and 20% respectively, just one year after acquisition [1].

Outlook

Klépierre has revised its full-year 2025 guidance upwards, expecting 5% EBITDA growth and a net current cash flow between €2.65-€2.70 per share. The company enters the second half of 2025 on a strong footing, with like-for-like net rental income growth expected to accelerate further [1].

References

[1] Klépierre. (2025, July 30). Klépierre First-Half 2025 Results Continued Unabated Growth. Retrieved from https://www.globenewswire.com/news-release/2025/07/30/3124288/0/en/KL%C3%89PIERRE-FIRST-HALF-2025-RESULTS-CONTINUED-UNABATED-GROWTH.html