KLPEF - Klépierre H1 revenue declines 22.82% Y/Y

Klépierre SA (KLPEF) H1 total revenue declined 22.82% to €475.4M from €616.0M in the year-ago period.Net rental income, shopping centers, was down to €315.9M compared to €503.1M in H1 2020.Klépierre said that due to the third wave of the pandemic in late 2020 and early 2021 in Europe there were restrictions due to which the company experienced the equivalent of 2.5 months of full closure, compared to 1.6 months on average during H1 2020.The company noted strong it saw sales recovery since reopening, with June sales reaching 96% of the 2019 level, and up 15% compared to June 2020.Net current cash flow per share declined to €0.72, compared to €1.37 a year earlier.EPRA Net Tangible Assets per share declined to t €29.70, from €34.9 in H1 2020.Outlook: The company said assuming there are no more store closures or severe restrictions in H2 it  maintains its net current cash flow guidance at €1.80 per share for 2021.Source: Press

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Klépierre H1 revenue declines 22.82% Y/Y