Carmila

First-quarter 2024 Financial Information - Seite 2

Notable new business signed since the beginning of the year includes:

- Innovative and sector-leading names such as Adopt’, Rituals, Le Comptoir de Mathilde, Normal, Mango, Tramas+ and Jeff de Bruges ;

- A leisure complex at Rennes Cesson of more than 7000m², including a karting track (Speed Park) and an new adventure concept (Fort Boyard);

- Healthcare retailers such as Optic 2000 and Soloptical, as well as a new pharmacy.

Reversion was +3.4% on average for the leases signed in the first quarter, demonstrating the strength of demand from retailers for space in Carmila centres.

Financial occupancy stood at 95.9% at end March 2024, at a similar level to end March 2023 (96.0%), and reflecting the typical seasonality after the end of year holiday period.

Revenues of the specialty leasing and temporary retail activity (pop-up stores and sales events) were up +15% versus the first quarter of 2023, driven by the success of new concepts, such as the sale of undelivered parcels, and the development of “second hand” in clothing and accessories.

Retailer sales up +2.0% and footfall up +0.9% versus first quarter 2023

In the first quarter of 2024, retailer sales were up +2.0% on average vs. the first quarter of 2023 (+1.7% in France, +3.2% in Spain and +0.3% in Italy). Footfall is also up (+0.9% on average versus the first quarter of 2023, of which +0.8% in France, +1.1% in Spain and +1.9% in Italy), supported by the appeal of Carrefour hypermarkets.

Launch of solar energy project in Spain

In Q1 2024, Carmila launched the first phase of a project to install solar panels on six centres in Spain.

This first investment will enable Carmila to reduce consumption by its centres from the electricity grid in favour of “green” autogeneration. The project will result in annual energy savings of 3 044MWh and will reduce the carbon footprint of the group by the equivalent of 16 538 tonnes of CO2.

The initiative is part of Carmila’s ambitious CSR roadmap, which includes a target to reach net zero on Scopes 1 and 2 by 2030.

Confirmation of earnings guidance

As announced on February 13, with the publication of 2023 annual results, recurring earnings per share are expected to be at least €1.63 in 2024, corresponding to growth of at least +2% versus 2023.

This expected growth in recurring earnings per share assumes organic growth in rental income, driven by indexation, at a similar level to 2023, as well as the partial contribution of recurring earnings of Galimmo, following the closing of the acquisition expected this summer.