Unibail-Rodamco-Westfield (URW) has proposed a 40% increase in its distribution to €3.50 per share, citing strong operational performance and €1.6 billion in asset disposals completed at book value in 2024. The company’s adjusted recurring earnings per share (AREPS) surpassed its full-year guidance, reaching €9.85. Net rental income from shopping centres rose by 5.8% on a like-for-like basis, totaling €2.1 billion. Overall, group earnings increased by 4.5% to €1.472 billion.
URW’s CEO, Jean-Marie Tritant, highlighted the company’s achievements, stating, “In 2024, we delivered strong operating performance across all activities. Our Flagship shopping centres demonstrated their strength, with higher tenant sales and footfall in all regions, while our proactive leasing strategy delivered the highest occupancy level since 2017.”
The company also reported that tenant sales increased by 4.5% and footfall by 2.6% compared to 2023, indicating a robust recovery in retail activity. The proposed distribution is subject to approval at the Annual General Meeting scheduled for April 29, 2025.
