KLÉPIERRE: S&P INCREASES KLÉPIERRE’S OUTLOOK TO POSITIVE AFTER THE ROMAEST ACQUISITION

PRESS RELEASE

S&P INCREASES KLÉPIERRE’S OUTLOOK TO POSITIVE AFTER THE ROMAEST ACQUISITION

Paris — May 27, 2024

Klépierre, the European leader in shopping malls, today announces the closing of the acquisition of RomaEst, one of the largest malls in Rome. With a 10 million footfall, it is the 6th most visited center in Italy. Strategically located in a catchment area of 2.2 million consumers, this 97,000 sq.m. GLA scheme is one of the leading retail and entertainment destinations in Italy with 214 national and international banners like Inditex, Primark, JD Sports, Sephora, New Yorker, Mango, H&M…This is Klépierre’s second external growth transaction of the year and a further stage of the Group’s strategy to strengthen the portfolio while generating additional net cash flow.

Concurrently to this acquisition and assuming Klépierre’s capacity to make further opportunistic acquisitions with high cash returns, S&P has increased Klépierre’s outlook from stable to positive. At the same time, S&P has revised upwards its assessment of Klépierre’s liquidity profile, from ‘Adequate’ to ‘Strong’.

On May 24, 2024, Fitch confirmed its ‘A-’ rating with a stable outlook on Klépierre’s senior unsecured debt.

AGENDA  
July 09, 2024 July 10, 2024July 11, 2024July 31, 2024October 23, 2024 Ex-dividend date for the final dividend paymentRecord date for the final dividend paymentFinal dividend paymentFirst-half 2024 earnings (before market opening)Trading update for the first nine months of 2024 (before market opening)  
   
INVESTOR RELATIONS CONTACTS MEDIA CONTACTS  
Paul Logerot, Group Head of IR and Financial Communications +33 (0)7 50 66 05 63 — paul.logerot@klepierre.comHugo Martins, IR Manager +33 (0)7 72 11 63 24 — hugo.martins@klepierre.comTanguy Phelippeau, IR Manager +33 (0)7 72 09 29 57 —tanguy.phelippeau@klepierre.com Hélène Salmon, Group Head of Communications +33 (0)6 43 41 97 18 – helene.salmon@klepierre.com   Wandrille Clermontel, Taddeo +33 (0)6 33 05 48 50 – teamklepierre@taddeo.fr  

ABOUT KLÉPIERRE

Klépierre is the European leader in shopping malls, combining property development and asset management skills. The Company’s portfolio is valued at €19.3 billion at December 31, 2023, and comprises large shopping centers in more than 10 countries in Continental Europe which together host hundreds of millions of visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and is included in the CAC Next 20 and EPRA Euro Zone Indexes. It is also included in ethical indexes, such as Euronext CAC 40 ESG, Euronext CAC SBT 1.5, MSCI Europe ESG Leaders, FTSE4Good, Euronext Vigeo Europe 120, and features in CDP’s “A-list”. These distinctions underscore the Group’s commitment to a proactive sustainable development policy and its global leadership in the fight against climate change. For more information, please visit the newsroom on our website: www.klepierre.com 

This press release is available in the “Publications section” of Klépierre’s Finance page: www.klepierre.com/en/finance/publications

 

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  • PR_KLEPIERRE_RomaEst_Acquisition_Positive_S&P_Rating
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