Klépierre (LI) Q3 2025 TU earnings summary

Executive summary

• Upgraded 2025 guidance with EBITDA growth expected at 5.5% and net current cash flow per share up 4% year-over-year to €2.70.

• Nine-month net rental income rose 6.5%, with like-for-like growth of 4.2%, and retailer sales up 3.3% year-over-year.

• All regions and segments contributed positively, with strong performance in experience-based shopping categories.

Financial highlights

• Total revenue for the first nine months of 2025 reached €1,213.4 million.

• Mall income earnings increased 10% year-over-year, driven by retail media, events, specialty leasing, and mobility.

• Average year-to-date dividend yield stands at 6%.

Outlook and guidance

• Full-year 2025 EBITDA expected to grow 5.5%, with net current cash flow per share reaching €2.70.

• EBITDA and net current cash flow per share projected to grow 23% and 21%, respectively, over three years to December 2025.