Annual General Meeting
11 June 2024
Strategy & Results review
Evert Jan van Garderen
Il Castello, Italy
Environmental, social and governance
Recognitions
AEX® ESG Index
3
ESG update
24% reduction in carbon emissions during 2023
15 out of 24 shopping centres have on-site solar panels, collectively generating over 3,985 MWh electricity in 2023 (+14%)
Carbon emissions (Scope 1 and 2) 24% reduction in emissions in 2023
Climate change risk assessments performed for all our centres
75% of ECP shopping centres achieved zero waste to landfill goal
A 38% decrease in waste to landfill in 2023
Green lease policy with retailers
1,000 lease agreements include Group Green lease clauses:
41% in Belgium, 64% in France, 52% in Italy,
51% in Sweden
Electric vehicle chargers in our shopping centres
- Belgium - 8 chargers
- France - 46 chargers across 6 shopping centres
- Italy - 39 chargers across all 8 centres (additional 155 in Q2 2024)
- Sweden - 68 chargers with an additional 58 in 2024
Gas removal
31% overall decrease in gas consumption in 2023
BREEAM In-Use certification in progress All assets are certified or in the process of
re-certification - 95% certified Excellent or Very Good
Photo: Carosello's new panels will provide around 44% of the energy needs of the common areas.
4
ESG update
Customer Engagement
- Over 13,000 face-to-face interviews across 14 centres
- Average score of 8.3 (above target of 7.5)
Retailer partnerships
- Introduction of ECP Connect, the tenant app to enhance communications
- Tenant satisfaction score of 7.0 in 2023 (on target)
Eurocommercial Retail Academy® Programme rolled out in eight additional centres in France and Italy in 2023
Community engagement
- Our shopping centres form an integral part of their local communities providing them with services, amenities and support
- Dedicated spaces for community meeting, health and wellbeing, charity, education and employment
Sustainable finance
- Eurocommercial's Green Finance Framework underscores sustainability goals
- Extension of three sustainability linked loans
- Five green loans in place
Employee engagement & training
- Employee engagement survey with a 95% response rate
- Zero breaches against the code of conduct in 2023
- Employee training - over 20 training hours per employee
Photo : Hallarnaloppet fun race at Hallarna
5
Digitalisation update
Visitor Pillar: Objective
Growing with customers:
how digital innovation and customer-centricity can boost Eurocommercial performance
1 | 2 | 3 | 4 | 5 | 6 |
CONNECT ALL VISITORS | VISITORS DATABASE | INSIGHTS INTO & | COMMUNICATE ESG | IMPROVE THE VISITORS' | VISITOR DATABASE AS |
OFFLINE & ONLINE | GROWTH & | ANALYSE VISITOR | AND BUILD VISITOR | NEW OPPORTUNITY FOR | |
JOURNEY | |||||
TOUCHPOINTS | ENRICHMENT | BEHAVIOUR | COMMUNITIES | OUR RETAILERS | |
- Connect all our online and offline touchpoints related to the visitor
- Collect and store all relevant data related to the visitor in a structured way
- Transform key touchpoints into lead generation tools and involve colleagues and retailers
- Offer personalised experience in exchange of insights/interests
- Being able to reward customers (loyal/sustainable visitors)
- Focus on multiple strategies: customers vs. non-customers
- Being able to have real-time insights into the behaviour of our visitors
- Being able to distinguish between visitor declaration and behaviour
- All channels will communicate our ESG efforts & impact to our visitors
- Transform our offline & online touchpoints into channels for building visitor communities
- Being able to predict our visitors' behaviour on all our touchpoints
- Being able to predict our visitors' behaviour before, on and after events, based on AI models
- Being able to use our visitor database for retailers' marketing & new store openings
- Share our visitors' insights & predictions with our retailers
6
Solid operational performance in 2023
Retail sales
+5.8% vs 2022
Vacancy
1.5%
(same level as at 30 June
2023)
Rental growth
9.7%
(compared to 4.7% for 12 months to December 2022)
OCR
9.5%
(same as at 30 June 2023)
Renewals and relettings
2.8%
Rental uplift on
renewals and relettings 240 lease transactions
Rent collection
99%
7
Operational performance in Q1 2024
Retail salesRental growthRenewals and relettings
+3.7% vs 2023 | 3.6% | 2.3% |
renewals and relettings | ||
Rental uplift on |
244 lease transactions
Vacancy | OCR | Rent collection |
1.8% | 9.6% | 98% |
(same level as at Q1 2023) | (compared to 97% in Q1 2023) |
8
Like-for-like rental growth
Like-for-like rental growth | Like-for-like rental growth | |
FY 2023 | Q1 2024 | |
Overall | 9.7% | 3.6% |
Belgium | ||
3.4% | 3.8% | |
France | ||
5.7% | 6.7% | |
Italy | ||
13.5% | 1.8% | |
Sweden | ||
9.9% | 3.9% | |
I Gigli, Italy
Like-for-like rental growth is calculated based on 12-month data and excludes the impact of acquisitions, disposals and development projects to provide an accurate figure for comparison. It includes the impact of indexation, turnover rent, vacancies and leasing activity and excludes COVID-19 rent concessions.
9
Applicable national indices
Index 2023 | Index 2024 | Inflation rate 2023 | Inflation rate 2024** | |
(forecast) | ||||
Belgium | 4.3% | 3.1%* | 4.1% | 2.9% |
France | 4.7% | 6.1% | 4.9% | 2.4% |
Italy | 11.3% | 0.6% | 5.7% | 1.9% |
Sweden | 10.9% | 6.5% | 8.5% | 3.0% |
*Indexation estimate **Source: Consensus Forecast
10
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Disclaimer
Eurocommercial Properties NV published this content on 11 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2024 06:59:04 UTC.