UR news March 2014 - Unibail

Paris, Amsterdam, March 2014
Unibail-Rodamco’s investors’ and analysts’ newsletter
Dear All,
Here is an overview of the main events of the last 3 months.
FY13 Results and Roadshow
On February 4, 2014, Unibail-Rodamco published its FY13 Results. Management participated in an
extensive 2-week Roadshow throughout Europe, the US and Canada and met with 124 institutions in
more than 20 different cities. The Group’s results were generally well received with a clear strategy
and growth story going forward.
Management also attended the Citi 2014 Global Property CEO conference on March 3 and 4 in Miami
as well as the HSBC Real Estate Conference in Frankfurt on April 3.
AGM coming up on April 23, 2014 in Paris
Unibail-Rodamco’s AGM will be held on April 23, 2014 in Amphitheatre Goethe at the CNIT at
10.30am. Resolutions for the General Meeting and explanatory documents are available on the
Group’s website: http://www.unibail-rodamco.com/W/do/centre/annual-shareholder-meeting
If you plan to vote by proxy, remember to send in your ballot before April 17 so that your votes can be
taken into account. Should you have any questions do not hesitate to contact us, we are available for
further explanations. We count on you for this AGM, thank you for your vote!
2013 Annual Report available
The 2013 Annual and Sustainable development report was filed with the AMF on March 18, 2013. It
can be downloaded from the Group’s website:
A paper copy is available upon request.
New acquisition in Germany
On February 13, 2014, Unibail-Rodamco announced that it entered into partnership with Canada
Pension Plan Investment Board on CentrO, one of Europe’s premier shopping centres. The Group
signed an agreement to acquire from Stadium Group, the original developer of CentrO, its stake in the
asset. This acquisition consolidates the Group’s presence in Germany after the acquisition of stakes in
2012 in mfi, Germany’s 2 largest shopping centre owner, developer and investor. Located in
Oberhausen, Germany, in the heart of the densely populated Ruhr region, CentrO is one of Germany’s
largest and most successful shopping centres. The closing of the purchase and sale agreement is
subject to customary conditions precedent, including regulatory approvals.
The Group’s investment in CentrO will be consolidated under equity method and will be financed from
existing bank lines.
Divestment of Vier Meren shopping centre in the Netherlands completed
As part of its constant capital recycling policy, the Group divested its Vier Meren shopping centre in
Hoofddorp, The Netherlands. The transaction was closed on January 31 and encompassed a 5.7%
NIY, in line with book value.
€750 Mn Green Bond issued in February, first of its kind in the Real Estate sector
On February 19, 2014, Unibail-Rodamco successfully placed a 10-year “Green” bond with a 2.5%
coupon. Within two hours, the issuance had been 3.4x oversubscribed and the order book had
reached over €2.5 billion, more than 55% was allocated to SRI Investors. The use of proceeds will be
dedicated to the Group’s projects that target at least a BREEAM-in-use “Very Good” certification.
Unibail-Rodamco was the first to issue a Green Bond in the Real Estate sector in the Euro market.
This issuance once again shows the appeal of Unibail-Rodamco’s credit profile and contributes to
diversifying the Group’s sources of financing. This issuance was welcomed by the SRI investor
community: “The issue will fire up the green property sector, and is a very welcome development”
Environmental Finance
Double victory at the annual BREEAM award
The annual BREEAM awards, held in London on March 4, selected the best performing buildings of
2013. This year, a panel of eminent industry experts selected the winners from a shortlist of the five
buildings with the highest score in each section. Unibail-Rodamco led the pack, winning both the
BREEAM Retail category for So Ouest (Paris region, France) the 1st shopping centre in Europe to be
certified BREEAM “Excellent” at the final stage of construction, and BREEAM In-Use category for Cité
Europe (Lille, France) the 1st mall in Europe to achieve certification under the new BREEAM In-Use
International scheme. The mall was certified BREEAM In-Use “Outstanding”. "The outstanding quality
of this year's winning projects has set the sustainable development bar even higher”, said Gavin Dunn,
director of BREEAM. “They are not only testament to incredible technological ingenuity but also to the
resourcefulness and vision of the teams that brought them to life and their ability to put people at their
One of the Most Ethical companies in 2014
On March 21, 2014 in New York, Unibail-Rodamco has been recognized amongst 144 companies by
the Ethisphere Institute as one of 2014 World’s Most Ethical Companies and one of only four
companies in the real estate industry this year. This is the third time that Unibail-Rodamco has been
honored with this exclusive and prestigious award (2011, 2013 and 2014) which recognizes
organizations that continue to raise the bar on ethical leadership and corporate behavior. The World’s
Most Ethical Companies award pays tribute to companies that go beyond simply making statements
about doing business “ethically” and concretely translate those words into action, introducing best
practices and therefore having an impact on future industry standards.
Taby : Best Shopping Centre in Stockholm in 2013
One year after being awarded the “Best store offer” in the annual survey “Stockholm’s Favourite
Shopping Centre”, Täby Centrum was awarded the “Best Shopping Centre in Stockholm” in the 2013
edition. The annual survey asked the inhabitants of Stockholm their opinions on 47 shopping centres
and department stores. In addition to the prestigious 1st prize, Täby Centrum also received awards for
the “Best Store Offer” and the “Best Municipal/Regional Shopping Centre”. Nacka Forum comes close
in second place, for “Best Shopping Centre in Stockholm”.
Primark opens its first store within the French portfolio in Dijon.
France’s second Primark store opened its doors at Toison d’Or in Dijon in early February. Footfall rose
76 percent as shoppers flocked to the 4,000 m² shop, which sells reasonably priced fashion for
women, men and children. Primark staff dressed in the Irish retailer’s famous “Onesies” welcomed
visitors inside where a DJ was mixing. This opening is an illustration of the Group’s capacity to bring
new and exciting retailers to new markets, contributing to the unrivaled appeal of its shopping centres.
New Printemps department store in the Carrousel du Louvre
On January 15, the Carrousel du Louvre has welcomed a new Luxury tenant: the internationally
renowned French department store Printemps opened its new concept store right beside the Louvre
Museum. A first for the brand which hadn’t opened a new store for over 30 years. The new Printemps,
which will be the only department store open every Sunday in Paris, offers international and Parisian
fashionistas a 1,800 m² ground floor and a 800 m² mezzanine designed for luxury shopping. With
Apple, Mariage Frères, Lancel, Lalique, La Maison du Chocolat or the Comédie Française store, the
Carrousel du Louvre reinforces its position as the place to be for many luxury and premium brands in
the heart of Paris.
Visit the newly delivered Majunga leasing floor and open air loggias
The 66,000m² Majunga tower, La Défense, is to be delivered in the second half of 2014. Meanwhile,
we encourage you to visit our leasing space and loggia on the 27 floor to see for yourself the set of
breakthrough innovations that will be featured in this new prime office space. Inspired by its 4 Star
label, the Group will launch in Majunga “The new art of working” , an unparalleled set of new services
for the building users that range from open-air loggias up to the 39th floor to a dedicated laundry
service and a complete restaurant offer with delivery on each floor to employees. It’s simple: just ask!
UR Agenda: What’s next and where to meet us?
April 22:
April 23:
May 12:
May 15:
June 3&4:
June 5:
June 9-16:
June 18:
June 20:
July 23:
1Q14 interim statement – after market close (CET)
Unibail-Rodamco’s AGM – Paris
Dividend ex-date
Dividend payment date (subject to AGM approval)
NAREIT Conference – New York
Kempen European Property Seminar - Amsterdam
Unibail-Rodamco’s bi-annual Asian Roadshow
Morgan Stanley conference – London
Exane BNPP conference – Paris
1H14 Results – after market close (CET)
For further information, please contact:
Investor Relations
Pierre-Marie Battesti
+33 1 76 77 56 97
About Unibail-Rodamco
Created in 1968, Unibail-Rodamco SE is Europe’s largest listed commercial property company, with a presence in 12 EU
countries, and a portfolio of assets valued at €32.1 billion as of December 31, 2013. As an integrated operator, investor and
developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 1,500 professionals,
Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres in major European
cities and large offices and convention & exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long
term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and
relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the DJSI (World
and Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor's
and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com