PARIS (dpa-AFX) - Unibail-Rodamco-Westfield (URW.PA) on Thursday breported a sharp improvement in full-year earnings for 2025, supported by positive valuation movements and gains on disposals.
Profit before tax rose to €1.869 billion from €391.0 million in 2024.
The company recorded positive valuation movements of €302.8 million, compared with valuation losses of €1.078 billion last year, and reported a €120.1 million gain on disposal of investment properties, versus a €8.6 million loss in 2024.
On a proportionate basis, profit before tax rose to €1.853 billion from €399.9 million in 2024
Operating profit increased to €2.557 billion compared with €790.8 million last year, while proportionate operating profit increased to €2.582 billion compared with €832.9 million last year.
Net income attributable to holders of the Stapled Shares climbed to €1.268 billion from €146.2 million in 2024. Proportionate net income increased to €1.268 billion from €146.2 million in 2024.
Recurring net income, however, declined to €1.452 billion or €10.14 per share from €1.472 billion or €10.56 per share last year. Adjusted recurring EPS (AREPS) decreased 2.7% to €9.58.
Gross rental income declined to €2.328 billion from €2.427 billion a year earlier, while net rental income dropped to €1.872 billion from €1.925 billion.
Proportionate net rental income declined to €2.247 billion from €2.314 billion a year earlier.
The company intends to propose a cash distribution of €4.50 per share for 2025, up around 30% from last year.
For the full year, the company expects AREPS to be in a range of €9.15 to €9.30.
Additionally, Unibail-Rodamco-Westfield projects a distribution of €5.50 per share for 2026.
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