Unibail-Rodamco-Westfield Surpasses 2024 Financial Goals with Strong Growth and Strategic Moves

Unibail-Rodamco-Westfield (URW), a global leader in commercial real estate, has exceeded its financial targets for 2024, reinforcing its strong position in the market. Under the leadership of CEO Jean-Marie Tritant, the company achieved impressive growth across its portfolio, which includes shopping malls, office properties, and convention centers. This success is driven by strategic asset sales, effective debt reduction, and rising net rental income across all sectors.

URW reported a recurring net result of €1.47 billion, reflecting a 4.5% increase compared to the previous year. This exceeded the company’s financial target for 2024. CEO Jean-Marie Tritant described the results as “excellent,” underscoring URW’s ability to execute its strategy effectively. The company also saw EBITDA rise by 6.9% to €2.35 billion, while adjusted recurring earnings per share increased to €9.85—surpassing initial expectations. As a result of this strong financial position, URW has proposed a shareholder dividend of €3.50 per share, delivering positive returns for investors.

A key factor in URW’s success was its strategic focus on debt reduction and asset optimization. In 2024, the company reduced its financial debt to €19.5 billion by divesting €1.6 billion worth of assets. Among its most notable sales were the Westfield Forum des Halles shopping mall and the Trinity office tower in Paris’s La Défense business district. Over the past four years, URW has divested €6.4 billion in assets as part of its transformation plan. Moving forward, the company aims to retain and focus on its highest-performing flagship assets in the U.S., highlighting a shift toward prioritizing top-tier destinations.

URW’s shopping mall portfolio delivered strong growth in 2024, with net rent increasing by 5.8% and the vacancy rate dropping to 4.8%—its lowest level since 2017. Visitor traffic increased by 2.6%, while retailers saw a 4.5% rise in revenues compared to 2023. Office properties also recorded significant improvements, with net rent rising by 14.4%, while convention and exhibition venues reported an impressive 21.3% increase—demonstrating strong demand across all areas of URW’s business.

These results validate URW’s ability to navigate industry challenges while maintaining a long-term growth approach. By shedding non-core assets and focusing on high-performing locations, the company is positioning itself for future resilience and profitability. CEO Jean-Marie Tritant expressed confidence in the company’s strategic direction, emphasizing that these financial achievements reflect the success of its transformation plan.

With a firm commitment to operational efficiency and expansion in premium locations, URW is well-poised for sustained success. The strong 2024 performance highlights the company’s ability to adapt to market dynamics while creating value for both investors and the global real estate sector. As URW moves forward, its strategic priorities will continue to strengthen its position as a leader in the industry.