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    LI   FR0000121964

KLÉPIERRE

(LI)
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Klepierre : Résultats semestriels 2021 - supplément d'informations au communiqué de presse (en anglais)

07/27/2021 | 12:30pm EDT

S U P P L E M E N T A L

I N F O R M A T I O N T O T H E

E A R N I N G S R E L E A S E

F I R S T - H A L F 2 0 2 1

  • TABLE OF CONTENTS

1 CONSOLIDATED FINANCIAL STATEMENTS..................................................................................................

3

Consolidated statements of comprehensive income

4

Consolidated statements of financial position

5

Segment earnings

6

Consolidated statements of cash flows

7

2 INTRODUCTION....................................................................................................................................................

8

3 BUSINESS OVERVIEW .........................................................................................................................................

9

Economic environment

9

Operating context

9

Retailer sales

11

Rent collection

13

Gross rental income and net rental income

14

Leasing update

15

4 BUSINESS ACTIVITY BY REGION....................................................................................................................

17

France (28.2% of net rental income)

17

Italy (18.7% of net rental income)

18

Scandinavia (23.4% of net rental income)

18

Iberia (13.5% of net rental income)

19

Central Europe and Other (7.6% of net rental income)

20

Netherlands (4.9% of net rental income)

20

Germany (3.7% of net rental income)

21

5 NET CURRENT CASH FLOW.............................................................................................................................

22

Contribution of equity-accounted companies

23

6 INVESTMENTS, DEVELOPMENTS AND DISPOSALS...................................................................................

25

Investment market

25

Capital expenditure

25

Development pipeline

25

Disposals

27

7 PORTFOLIO VALUATION..................................................................................................................................

28

Property portfolio valuation

28

Management service activities

33

8 FINANCING POLICY...........................................................................................................................................

35

Financial resources

35

Interest rate hedging

37

Cost of debt

38

Credit ratings and covenants

39

9 EPRA PERFORMANCE INDICATORS ..............................................................................................................

40

EPRA Earnings

41

EPRA Net Asset Value metrics

41

EPRA Net Initial Yield

44

EPRA Vacancy Rate

45

EPRA Cost Ratio

45

EPRA Capital Expenditure

46

10 OUTLOOK ..........................................................................................................................................................

47

The review procedures on the condensed interim consolidated financial statements have been completed.

The Statutory Auditors' audit report is in the process of being issued.

2

SUPPLEMENTAL INFORMATION TO THE EARNINGS RELEASE - FIRST-HALF 2021

1

CONSOLIDATED FINANCIAL

STATEMENTS

SUPPLEMENTAL INFORMATION TO THE EARNINGS RELEASE - FIRST-HALF 2021

3

Consolidated statements of comprehensive income

In millions of euros

06/30/2021

06/30/2020

Gross rental income

444.3

581.0

Land expenses (real estate)

(3.4)

(3.6)

Service charge income

120.3

120.7

Service charge expenses

(169.9)

(161.2)

Building expenses (owner)

(70.7)

(25.4)

Net rental income

320.6

511.5

Management, administrative and related income

31.1

34.9

Other operating income

4.6

7.2

Survey and research costs

(0.2)

(0.2)

Payroll expenses

(54.1)

(43.2)

Other general expenses

(17.1)

(20.6)

Depreciation, amortization and impairment of intangible assets and property, plant and equipment

(8.8)

(9.4)

Provisions

(0.7)

(6.2)

Change in value of investment properties

(456.2)

(638.6)

Income from the disposal of investment properties and equity investments

0.5

3.0

> Proceeds from disposals of investment properties and equity investments

30.4

81.4

> Carrying amount of investment properties and equity investments sold

(29.9)

(78.4)

Goodwill impairment

(112.8)

(1.9)

Operating income (loss)

(293.1)

(163.4)

Net dividends and provisions on non-consolidated investments

0.0

0.0

Financial income

24.8

40.4

Financial expenses

(78.9)

(89.1)

Interest expense on leases liabilities

(4.2)

(4.2)

Cost of net debt

(58.2)

(52.9)

Change in the fair value of financial instruments

(4.3)

(15.8)

Share in earnings of equity-accounted companies

55.0

(12.4)

Profit (loss) before tax

(300.7)

(244.4)

Income tax benefit

368.5

34.4

Consolidated net income (loss)

67.8

(210.0)

Of which

> Attributable to owners of the parent

111.1

(163.6)

> Attributable to non-controlling interests

(43.3)

(46.5)

Average number of shares - undiluted

285,267,886

286,430,401

UNDILUTED EARNINGS(LOSS) PER SHARE (in euros) - ATTRIBUTABLE TO OWNERS OF THE PARENT

0.39

(0.57)

Average number of shares - diluted

285,539,909

286,430,401

DILUTED EARNINGS (LOSS) PER SHARE (in euros) - ATTRIBUTABLE TO OWNERS OF THE PARENT

0.39

(0.57)

In millions of euros

06/30/2021

06/30/2020

Consolidated net income (loss)

67.8

(210.0)

Other items of comprehensive income recognized directly in equity

1.2

(118.2)

> Effective portion of gains and losses on cash flow hedging instruments

8.7

(4.4)

> Translation gains and losses

(0.4)

(112.2)

> Tax on other items of comprehensive income

(1.3)

0.9

Items that will be reclassified subsequently to profit or loss

6.9

(115.7)

> Gains and losses on sales on treasury shares

(5.7)

(2.4)

> Actuarial gains and losses

0.0

(0.1)

Items that will not be reclassified subsequently to profit or loss

(5.7)

(2.5)

Share of other items of comprehensive income attributable to equity-accounted companies

-

-

Total comprehensive income (loss)

69.0

(328.2)

Of which

> Attributable to owners of the parent

103.9

(248.7)

> Attributable to non-controlling interests

(34.9)

(79.5)

Undiluted comprehensive earnings (loss) per share (in euros) - Attributable to owners of the parent

0.36

(0.87)

Diluted comprehensive earnings (loss) per share (in euros) - Attributable to owners of the parent

0.36

(0.87)

4

SUPPLEMENTAL INFORMATION TO THE EARNINGS RELEASE - FIRST-HALF 2021

Consolidated statements of financial position

In millions of euros

06/30/2021

12/31/2020

Goodwill

471.9

583.5

Intangible assets

23.1

22.9

Property, plant and equipment

22.7

27.3

Investment properties at fair value

18,704.5

19,756.8

Investment properties at cost

138.7

132.9

Investments in equity-accounted companies

1,022.4

988.4

Other non-current assets

304.7

299.9

Long-term derivative instruments

17.3

31.7

Non-current deferred tax assets

11.6

15.6

Non-current assets

20,717.0

21,859.0

Investment properties held for sale

654.7

28.3

Trade and other receivables

199.8

156.2

Other receivables

282.8

332.3

> Tax receivables

67.3

63.7

> Other

215.6

268.5

Short-term derivative instruments

1.2

30.6

Current deferred tax assets

22.2

16.3

Cash and cash equivalents

190.1

462.1

Current assets

1,350.8

1,025.8

TOTAL ASSETS

22,067.8

22,884.7

Share capital

Additional paid-in capital Legal reserves Consolidated reserves

  • Treasury shares
  • Hedging reserves
  • Other consolidated reserves Consolidated earnings (loss)

406.5 419.9

4,166.1 4,737.5

44.0 44.0

3,281.3 3,766.6

(133.6) (441.3)

(4.5) (8.7)

3,419.4 4,216.6

111.1 (785.7)

Equity attributable to owners of the parent

8,009.0

8,182.3

Equity attributable to non-controlling interests

2,180.3

2,252.1

Total equity

10,189.2

10,434.4

Non-current financial liabilities

7,278.0

7,244.1

Non-current leases liabilities

360.3

357.0

Long-term provisions

17.5

16.9

Pension obligations

12.1

11.8

Long-term derivative instruments

7.7

13.7

Deposits

140.7

143.3

Deferred tax liabilities

1,098.9

1,508.3

Non-current liabilities

8,915.3

9,295.2

Current financial liabilities

1,941.0

2,381.9

Current lease liabilities

13.9

14.2

Bank overdrafts

214.2

9.4

Trade payables

175.1

201.1

Due to suppliers of property

46.1

54.0

Other liabilities

340.0

322.3

Short-term derivative instruments

2.8

5.2

Payroll and tax liabilities

230.0

166.9

Current liabilities

2,963.3

3,155.1

TOTAL EQUITY AND LIABILITIES

22,067.8

22,884.7

SUPPLEMENTAL INFORMATION TO THE EARNINGS RELEASE - FIRST-HALF 2021

5

Pour lire la suite de ce noodl, vous pouvez consulter la version originale ici.

Disclaimer

Klépierre SA published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 16:29:06 UTC.


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