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Klépierre reports 0.8% YOY increase in Q1 revenues


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Klépierre reports 0.8% YOY increase in Q1 revenues

's first-quarter revenuesamounted to €322.8 million, up 0.8% after "significant asset rotation"in 2015, according to its financial results.

Its revenuesbetween January and March 2015 reached €320.1 million, as previously .

The company'sshopping center gross rents amounted to €288.1 million in the first three monthsof 2016, up from €287.4 million year over year. Retailer sales increased 2.9% ona like-for-like portfolio basis compared to the same period in the previous year.

Klépierreshareholders approved the payment of a cash dividend of €1.70 per share on April19 for fiscal year 2015, which was paid out April 26. The distributions paid outto shareholders reached an aggregate of €530.0 million.

As ofMarch 31, the company's consolidated net debt reached €8.8 billion. Klépierre €500 million 10-year bondswith a 1.875% coupon rate in February, as it anticipated the refinancing of €526million bonds with a 4.25% coupon rate maturing in mid-March.

The companyconfirmed its guidance for net current cash flow per share for fiscal year 2016,ranging between €2.23 and €2.25.

The S&PCapital IQ consensus estimate for 2016 cash flow per share is €2.40.