Citycon H1/2020: Citycon’s strategy validated in the face of the pandemic
Citycon Oyj Stock Exchange Release 4 August 2020 at 09:00 hrs– Rent collection remained strong being 93% in H1 validating Citycon’s strategy– After a drop in March and in April, footfall numbers are returning to normal levels being 95% at the end of July, and all tenants are currently open for business– Although tenant sales decreased, average consumer spending in our centres was higher than in 2019– COVID-19 increased pressure on real estate valuations and fair values declined by 2.1% from year-end 2019– Successful issuance of a 200 MEUR tap bond further improved liquidity–