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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield (URW) investor relations material
Unibail-Rodamco-Westfield Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary22 Oct, 2026
Executive summary
Solid 9M-2026 operating momentum: tenant sales +5.2%, footfall +2.2%, and like-for-like turnover +2.4%.
Leasing remained strong, rental uplifts reached +10.3% on indexed passing rents, and EPRA Shopping Centres vacancy improved to 3.9%.
2026 AREPS is expected within €9.15–€9.30 guidance; the €5.50 per-share FY-2026 cash distribution proposal was confirmed.
Financial highlights
9M-2026 proportionate total turnover was €2,639m, down 1.9% reported and up 2.4% like-for-like.
Proportionate GRI was €2,087m, down 0.7% reported; like-for-like GRI rose 4.4%, including Shopping Centres growth of 3.8%.
Total variable income increased 9.2% to €254m, supported by retail media and parking revenues.
Convention & Exhibition GRI rose 11.9% proportionate and 11.7% like-for-like in 9M-2026.
Outlook and guidance
FY-2026 AREPS expected within €9.15–€9.30, supported by year-to-date operating performance and reflecting disposals, acquisitions and refinancings.
FY-2026 distribution of €5.50 per share to be proposed, ~22% above the €4.50 paid for FY-2025.
Guidance assumes no major additional deterioration in the macroeconomic and geopolitical environment.
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Latest events from Unibail-Rodamco-Westfield
- Strong H1-2026 retail growth, record-low vacancy, and improved credit metrics support guidance.URW
H1 2026 - AGM approved €4.50/share payout, board renewals, and all resolutions amid strong 2025 results.URWAGM 2026
- Tenant sales rose 5%, vacancy fell, and 2026 AREPS guidance is reaffirmed.URWQ1 2026 TU
- Retail outperformance, disposals, and cost discipline drive higher earnings and payout.URWH2 2025
- Strong operating and leasing performance drives 2024 earnings to top end of guidance.URWQ3 2024 TU
- Strong H1-2024 results, resilient earnings, and guidance reaffirmed despite Hamburg overruns.URWH1 2024
- Strong 2024 results, €3.50/share dividend, and all resolutions approved amid transformation.URWAGM 2025
- Aims for 5.8–6.6% annual EBITDA growth and €3.1B+ distributions by 2028.URWInvestor Day 2025
- EBITDA up 7%, leverage improved, and 40% higher distribution proposed for 2024.URWH2 2024
Next Unibail-Rodamco-Westfield earnings date
Investor update3 Dec, 2026
Unibail-Rodamco-Westfield
Next Unibail-Rodamco-Westfield earnings date
Investor update3 Dec, 2026
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Frequently asked questions
Unibail-Rodamco-Westfield SE is a real estate investment company specializing in the ownership, development, and management of premier retail assets. Its portfolio includes shopping centers and office properties across Europe and the United States. The company is headquartered in Paris, France, and its shares are listed on the Euronext Paris.