Strategy

    Strategy, targets and values

    MISSION
    We offer the best retail space and everyday
    shopping experiences in urban shopping centres
    in the Nordics
    VISION
    Citycon wants to be the household name for Nordic
    shopping centres


     

    OUR STRATEGY
    Our strategy is based on a sustainable business model where the success of our tenants and the communities
    we operate in lay the foundation for achieving our long-term objective of delivering increased value for our shareholders. 

    Business model

    RIGHT ASSETS RETAIL EXPERTS STRONG CAPITAL BASE


    OUR VALUES

    Passionate
    Dedicated to retail.
    Drive results.
    Take ownership and responsibility.
    Take pride in our work. 

    Solution­-oriented
    Deliver customer convenience.
    Hands-on and action-oriented.
    Dedicated to long-term value creation.
    Forward-looking. 

    Together One
    One Citycon, One Brand.
    Work together, pulling in the same direction.
    Encourage, challenge and support
    each other.
    A valuable member of the community. 


    See our long-term financial targets and key results in 2016



    RIGHT ASSETS

    Pure retail player focusing on necessity-based, multifunctional shopping centres in growing urban areas.

    In practise we

    • Focus on urban shopping centres with easy access and direct links to public transportation
    • Create multifunctional centres for the modern lifestyle with diverse everyday shopping and services at the core
    • Invest in the development of our assets and in sustainable solutions

    Priorities for 2017

    • Further enhance portfolio quality through development investments of EUR 150–200 million and divesting non-core assets
    • Finalise development project in Iso Omena and progress with Mölndal Galleria development
    • Accelerate the development pipeline and start construction in Lippulaiva and Down Town
    • Increase the share of environmental certifications to ≥ 80% and improve energy efficiency through, for example, onsite renewable energy generation


    RETAIL EXPERTS

    Using and developing our retail expertise at each stage of the shopping centre value chain in order to create pleasant shopping experiences and sustainable solutions.

    In practise we

    • Leverage our market knowledge, customer insight and digital innovations to create a positive customer journey and sustainable customer flows to tenants
    • Deliver a unified brand experience in our shopping centres
    • Enrich the communities we operate in through proactive networking, dialogue and community partnerships and by acting as a sustainable business partner
    • Ensure having the right talent now and in the future by offering an excellent place to work that supports professional growth

    Priorities for 2017

    • Further optimise and harmonise the management of our portfolio based on the “One Citycon” philosophy
    • Increase roll-out of the digital community and loyalty programme
    • Foster active information sharing among stakeholders on sustainability issues, such as the Code of Conduct and environmental efficiency training for tenants
    • Empower our employees by launching a new internal performance and talent management tool “CityPeople”


    STRONG CAPITAL BASE

    Allocating capital efficiently and maintaining a conservative gearing level in order to finance development and maximise returns.

    In practise we

    • Secure sufficient and attractively priced financing in order to provide capacity and flexibility for strategy execution
    • Allocate capital effciently by focusing on assets where we have a competitive advantage
    • Use long-term joint venture partnerships to extend the capital base, spread the risk and leverage expertise
    • Commit to an overall business plan that maintains or improves the investment grade credit ratings

    Priorities for 2017

    • Maintain a strong balance sheet with low average cost of debt and diversified debt maturities
    • Maintain or improve current credit ratings
    • Continue recycling of capital and investing in the core property portfolio


    LONG-TERM FINANCIAL TARGETS

    Financial target