Citycon’s Board of Directors resolved to update Citycon’s guidance practice following the issuance of Capital Securities. In order to quantify the impact of hybrid bond coupons, Citycon will also provide guidance on adjusted EPRA EPS after hybrid bond coupon payments. As of 2020, Citycon will provide guidance on direct operating profit, EPRA EPS and adjusted EPRA EPS. The adjusted EPRA metrics include all coupon expenses from the Capital Securities.
Citycon´s Outlook 2020
|EPRA Earnings per share (basic)||EUR 0.815-0.915|
|Direct operating profit||MEUR 191-209|
|Adjusted EPRA Earnings per share||EUR 0.720-0.820|
These estimates are based on the existing property portfolio and 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.
Source: Citycon's Financial Statements Release Q4/2019