OUTLOOK FOR THE YEAR 2023 – reaffirmed with additional FX details



Outlook for 2023

with year-end 2022 FX rates

Potential FY2023 negative FX impact

Direct operating profit




EPRA Earnings per share (basic)




Adjusted EPRA Earnings per share (basic)




The outlook assumes that there are no major changes in macroeconomic factors and that there will not be another wave of COVID-19 with restrictions resulting in significant store closures and no major disruptions from the war in Ukraine. These estimates are based on the existing property portfolio as well as year-end 2022 estimates of inflation, EUR–SEK and EUR–NOK exchange rates, and interest rates.

Given exchange rates have recently been subject to extraordinary volatility, estimated FX impact for the full year 2023 is provided as an additional information for further transparency and clarification. Potential negative FX impact for FY2023 is based on the assumption that EUR–SEK and EUR–NOK exchange rates stay at the level of 14 July 2023.


Source: Interim Report Q2/2023