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Unibail-Rodamco aims to maximise shareholder value and return on investment through proactive management, a dynamic acquisition and disposal policy, and successful development and refurbishment projects.

 Jaap L. Tonckens

Dear Shareholders,
Our long-term, strategic focus is simple: owning, developing and operating the best shopping centres in Europe. Today 97% of the Group’s retail portfolio¹ is made up of large, leisure and retail destinations which attract at least 6 million visits a year. These retail assets, with rental growths above market average, have become indispensable for retailers. The Group’s strong financial performance is also shaped by its financial agility, with an average cost of debt which decreased to 1.4% in 2017, a record low for the Group. Our performance is based on a clear strategy, with growth that benefits our customers, assets and ultimately our shareholders. Investing in Unibail-Rodamco shares is like investing in a proxy for real estate: they combine the solidity offered by prime real estate and the liquidity offered by the stock market, all with a regular dividend thanks to the Group's REIT status. Trust does not come without transparency and we are committed in providing you with clear and concise data to help you make informed decisions.
Thank you for your trust,

¹ in % of GMV as at December 31, 2017

Jaap L. Tonckens

Chief Financial Officer

Key information 

€12.05 +7.2%

Recurring earnings per share


Dividend per share




Average cost of total debt


EPRA Net Asset Value