PARIS (dpa-AFX) - French real estate company Unibail-Rodamco-Westfield (UNBLF, UNRDY) reported that its proportionate turnover for the first quarter was 909.3 million euros, up 1.4% year-on-year, impacted by disposals and lower property development and project management revenues. On a like-for-like basis, URW's turnover was up 8.5%, driven by indexation, dynamic Shopping Centre leasing activity, increased variable income, Offices leasing progress and the continued rebound in Convention & Exhibition activity.
Total turnover, excluding VAT, for the first quarter rose to 758.8 million euros from 734.5 million euros in the prior year.
Shopping Centres Gross Rental Income on a proportionate basis amounted to 628.9 million euros for the first quarter 2023, an increase of 1.0% impacted by 2022 disposals in France, Central Europe, Nordics, Germany, The Netherlands and the US.
The company reconfirmed its 2023 adjusted recurring earnings per share guidance in a range of 9.30 euros to 9.50 euros.
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