Citycon Q1/2022: Continued improvement in operating, credit and valuation metrics; raising midpoint of guidance
CITYCON OYJ Interim Report 5 May 2022 at 20:30 hrsFINANCIAL PERFORMANCE · Like-for-like rental income increased by +3.5% compared to the previous year. · Total net rental income was affected by divestments and was EUR 49.1 million (Q1/2021: 50.4). · Retail occupancy 95.1%; 90 bps improvement over Q4/2021 (94.2%). · Average rent per sq.m. increased by EUR 0.8 to EUR 23.4 per sq.m. · Like-for-like footfall increased +17.6%; 1920 bps improvement over Q4/2021 (-1.6%). · Like-for-like tenant sales increased +11.8%; +7.4% higher than in Q1/2019 (pre-pandemic level).