ANNUAL GENERAL MEETING
8 June 2021
Current Covid-19 lockdown situation
Belgium
France
Italy
Sweden
As at 8 June 2021
Our centre is open except indoor dining which will re-open on 9 June
All our centres open except indoor dining which will re-open on 9 June
All centres open
with restrictions on
F&B
All our centres open
with some minor
restrictions on F&B
Situation over the past five months
- Open during Q1 2021 with the exception of F&B and intermittently, hair and beauty salons
- Four week lockdown introduced on 27 March
- This lockdown was more flexible and in addition to click & collect, non-essential stores were able to stay open and receive customers by appointment (max. capacity of 50), 80 of our 130 stores partially open
- All stores reopened on 26 April, F&B external terraces on 8 May
- Cinema, theatres and indoor restaurants to reopen on 9 June
- All shopping centres comprising more than 20,000m² closed since 31 January (except essential stores)
- Since 6 March, these restrictions were extended to a number of shopping centres of more than 10,000m²
- A third national lockdown introduced on 3 April (closure of all non-essential retail)
- Shops reopened on 19 May together with outdoor dining
- Restaurants able to fully trade from 9 June
- Colour-codedregional system placing restrictions on retail trade which led to alternated closures until 26 April
- All stores and open air restaurants were allowed to re-open from 5am to 10pm on 26 April during weekdays
- From 22 May, all shopping centres able to trade on weekends as well
- From 1 June, restaurants able to welcome customers inside but only at lunchtime
- All our shopping centres remained fully open and trading
- There are restrictions covering the food & beverage sector and government recommendations generally do not encourage retail activity
- From 1 June, restaurants without their own entrance located in shopping centres can have 4 persons per table
2
Our centres were closed for 2.4 months in 2020 but sales and footfall recovered quickly after reopenings
Pre-COVID | First lockdown | Stores reopening with restrictions | Second lockdown |
100%
80%
60%
40%
20%
0%
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | |
% of Open Stores | Footfall | Sales | ||||||||||
Note: footfall and sales as a % of 2019 excluding F&B and Entertainment | 3 |
A well diversified €4 billion portfolio
Geographical split | Essential and every day retail* | |||||
Belgium | Non-retail | Discretionary | ||||
Italy | 2% | |||||
15% | retail | |||||
Essential | ||||||
39% | retail | 32% | ||||
43% | ||||||
Sweden 22%
24%23%
France | Every day |
* Includes parts of the shopping centres not owned by Eurocommercial | retail |
4 |
Resilient indicators in an unprecedented context
Vacancy rate | Rent collection rate | |||||||||||||
100% | 99% 99% | 88% 96% | 94% | 91% | ||||||||||
5.0% | ||||||||||||||
77% | 82% | 73% | ||||||||||||
4.0% | 50% | |||||||||||||
3.0% | ||||||||||||||
1.5% | ||||||||||||||
2.0% | ||||||||||||||
0% | ||||||||||||||
1.0% | Q1 20 | Q2 20 | Q3 20 | Q4 20 | Q1 21 | |||||||||
0.0% | Pre concessions granted | Post concessions granted | ||||||||||||
Dec-11Dec-12Dec-13Dec-14Dec-15Dec-16Dec-17Dec-18Dec-19Dec-20Mar-21 | ||||||||||||||
Uplift on renewals/relettings
35%
30%
25%
20% | 9.4% | |||||||||||||||||||||||
15% | ||||||||||||||||||||||||
10% | ||||||||||||||||||||||||
5% | ||||||||||||||||||||||||
0% | ||||||||||||||||||||||||
Jun-18 | ||||||||||||||||||||||||
Jun-10 | Dec-10 | Jun-11 | Dec-11 | Jun-12 | Dec-12 | Jun-13 | Dec-13 | Jun-14 | Dec-14 | Jun-15 | Dec-15 | Jun-16 | Dec-16 | Jun-17 | Dec-17 | Dec-18 | Jun-19 | Dec-19 | Jun-20 | Dec-20 |
12-month valuation change - Dec 2020
Belgium | France | Italy | Sweden ECP portfolio | ||||||||
0% | |||||||||||
-2% | |||||||||||
-1.6% | |||||||||||
-4% | |||||||||||
-3.7% | -3.8% | ||||||||||
-6% | -4.4% | ||||||||||
-6.0% | |||||||||||
-8% | |||||||||||
5
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Eurocommercial Properties NV published this content on 08 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2021 09:10:03 UTC.