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    HM B   SE0000106270

HENNES & MAURITZ AB

(HM B)
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Klepierre Q2 revenues start rebounding as stores reopen

07/27/2021 | 12:27pm EDT

July 27 (Reuters) - France's Klepierre started seeing signs of recovery in the second quarter despite reporting a fall in revenues as its shopping mall network reopened, it said on Tuesday.

The Paris-headquartered group said earlier this year it expected to reopen most of its shopping malls, closed due to COVID-19 measures and lockdowns for months, by the end of May.

Revenues from shopping mall rents in the second quarter rose by 48% quarter on quarter to 188.5 million euros ($222.94 million) but were still down 28% compared to a year ago due to longer lockdowns.

Klepierre, the main landlord for some of Europe's biggest retailers such as Inditex, H&M and Sephora , confirmed its cash flow target for 2021 of 1.80 euros per share.

The company added that it was unable to estimate the potential impact of the pandemic as the fast spread of the delta variant of COVID-19 threatens to trigger another round of lockdowns and restrictions.

($1 = 0.8455 euros) (Reporting by Silvia Recchimuzzi and Federica Mileo in Gdansk Editing by Chris Reese)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HENNES & MAURITZ AB 2.47% 181.98 Delayed Quote.3.26%
INDITEX 1.90% 32.26 Delayed Quote.21.58%
KLÉPIERRE 4.62% 20.4 Real-time Quote.6.04%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.84% 637.5 Real-time Quote.25.84%
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Financials
Sales 2021 200 B 22 992 M 22 992 M
Net income 2021 9 842 M 1 132 M 1 132 M
Net Debt 2021 35 443 M 4 078 M 4 078 M
P/E ratio 2021 29,5x
Yield 2021 3,47%
Capitalization 301 B 34 609 M 34 653 M
EV / Sales 2021 1,68x
EV / Sales 2022 1,47x
Nbr of Employees 153 000
Free-Float 31,8%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 177,60 SEK
Average target price 207,64 SEK
Spread / Average Target 16,9%
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Managers and Directors
Gudrun Helena Lundberg Helmersson Chief Executive Officer
Adam Gustav Karlsson Chief Financial Officer
Karl-Johan Erling Persson Chairman
Alan Boehme Chief Technology Officer
Anders Gunnar Dahlvig Independent Director
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