​Unibail-Rodamco: the 2015 recurring net income result exceeds expectations

Unibail-Rodamco announced on Tuesday that in 2015 its recurring net income result per share was down by 4.2%, but was higher than expectations.

The property company stated in a press release that its recurring net income (RNI) was €10.46 per share for the full fiscal year, compared to a forecast between €10.25 and €10.45. 

After restating the divestitures made in 2014, the RNI however turned out to be 8.3% higher. For the current year, the group suggested it expects an RNI per share ranging between €11 and €11.20.

Last year Unibail-Rodamco saw net rental income rise in like-for-like terms by 3.9% in shopping malls, its chief activity area, reaching €1.177 billion. Net rental income in conference and exhibition operations grew also by 5.3%, while that from offices decreased by 2.9%.

Unibail-Rodamco underlined how, "despite being affected by the Paris terrorist attacks last year, retailers' revenues (...) grew by 4.1% as of 31st December 2015, the second-strongest increase since the 5.3% recorded in 2007."

Before the publication of the annual results, the property company's share price ended the session on the Amsterdam Stock Exchange at €225 (-1.62%).