UNIBAIL-RODAMCO-WESTFIELD Q1-2025 TRADING UPDATE

Unibail-Rodamco-Westfield SE

Thu, Apr 24, 2025, 10:00 AM 2 min read

Robust operating performance with dynamic leasing activity backed by positive footfall and sales
- €100.4 Mn of MGR signed, with an uplift of +7.9% on top of indexed passing rents
- Tenant sales up +2.1% and footfall up +0.4% with unfavourable calendar effects
Successful retail opening of Westfield Hamburg-Überseequartier on April 8 with over 1 million visits in the first 2 weeks
€1.0 Bn of disposal transactions completed or secured in 2025
Successful financing activity and strong liquidity position
- Hybrid portfolio re-couponed downward and downsized
- €13.2 Bn of available liquidity¹ with refinancing needs secured for more than 36 months
2025 Adjusted Recurring Earnings per Share (AREPS) guidance of €9.30 to €9.50 confirmed

Commenting on the results, Jean-Marie Tritant, Chief Executive Officer, said:

“Our operating performance in Q1 was robust, with sales and footfall both up despite unfavourable calendar effects. We delivered strong leasing activity, with MGR signed up almost 8% on top of passing rents. Westfield Hamburg-Überseequartier, our newest Flagship asset, successfully opened to the public on April 8 and has already attracted over one million visits.

We have also expanded Westfield Rise to the US to generate more revenues through our in-house retail media and experiential division.

Since the start of 2025, we have completed or secured €1 billion of disposals, including €0.7 billion of retail assets in line with latest book values. We have also successfully re-couponed and downsized our hybrid portfolio.

All this activity, combined with our EUR/USD hedging position and sensitivity analysis taking into account the current macro-economic environment give us the confidence to confirm our full year earnings guidance for 2025 of €9.30 to €9.50 per share.

Thanks to our unrivalled portfolio of the best assets in the best locations and our highly diversified tenant base, we are confident in the resilience, growth potential, and long-term trajectory of our business. We look forward to sharing our plans in more detail at our Investor Day on May 14.”

For more information, please contact:

Investor Relations
Meriem Delfi
+33 7 63 45 59 77
investor.relations@urw.com

Juliette Aulagnon
+33 6 15 74 20 43
investor.relations@urw.com

Imane Rafiky
+33 6 10 95 86 88
investor.relations@urw.com

Media Relations
UK/Global:
Cornelia Schnepf – FinElk
+44 7387 108 998
Cornelia.Schnepf@finelk.eu

France:
Etienne Dubanchet – PLEAD

+33 6 62 70 09 43
Etienne.Dubanchet@plead.fr