PARIS (dpa-AFX) - French real estate company Unibail-Rodamco-Westfield (UNBLF, UNRDY) reported that its recurring net result for fiscal year 2021 declined to 1.01 billion euros from 1.06 billion euros in the prior year.
Adjusted recurring earnings per share were 6.91 euros, down 5.2% from 2020, hurt by the impact of 2020 and 2021 disposals of -0.68 euros, offset by the successful deliveries in 2021 and better C&E division performance. Restated for 2020 and 2021 disposals, the adjusted recurring earnings per share was up 4.7%, reflecting the resilient retail operating performance.
Net rental income was 1.72 billion euros down from 1.79 billion euros in the prior year.
Rent collection amounted to 88% for 202, including 86% in Continental Europe, 90% in the UK and 91% in the US. Rent collection was 80% at fiscal year 2020.
The company forecasts its 2022 adjusted recurring earnings per share to be in the range of 8.20 euros to 8.40 euros.
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