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Unibail-Rodamco FY'16 recurring EPS up 10.4% YOY

Unibail-Rodamco SE's full-year 2016 recurring EPS totaled €11.24, up 10.4% from 2015 recurring EPS, as adjusted for 2015 disposals.

Net rental income grew 5.2% year over year to roughly €1.53 billion. On a like-for-like basis, net rental income rose 2.4%.

The group surpassed its recurring EPS guidance of €11.00 to €11.20, with growth from its 2015 reported recurring EPS at 7.5%.

As of Dec. 31, 2016, the estimated total investment cost of the company's consolidated development pipeline totaled €8.0 billion. As of the same date, going concern NAV per share stood at €201.50, up €14.80, or 7.9%, compared to Dec. 31, 2015.

Looking ahead, Unibail forecasts recurring EPS of between €11.80 and €12.00 for 2017.

For the 2016 fiscal year, the group aims to propose a cash dividend of €10.20 per share, subject to approval at the April 25 annual general meeting.