OUTLOOK FOR THE YEAR 2020 SPECIFIED (4 August 2020)
Citycon forecasts the 2020 direct operating profit to be in range EUR 171-189 million, EPRA EPS EUR 0.710-0.810 and adjusted EPRA EPS EUR 0.610-0.710.
The outlook assumes that there are no major changes in macroeconomic factors and that there will not be a second wave of COVID-19 with restrictions resulting in significant store closures. These estimates are based on the existing property portfolio as well as on the prevailing level of inflation, the EUR–SEK and EUR–NOK exchange rates, and current interest rates. Premises taken offline for planned or ongoing (re)development projects reduce net rental income during the year.
On 26 March 2020, Citycon Oyj assessed that its prospects for 2020 have weakened and the company withdrew its guidance for 2020 issued on 6 February 2020.
Source: Interim Report Q2/2020