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Citycon Oyj
OMXH:CTY1S

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Citycon Oyj
OMXH:CTY1S
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Price: 3.326 EUR 2.53% Market Closed
Market Cap: 612.5m EUR

Citycon Oyj
Investor Relations

Citycon Oyj engages in managing and developing mixed-use centres for urban living including retail, office space and housing. The company is headquartered in Espoo, Etela-Suomen and currently employs 251 full-time employees. Its principal activities include leasing, management and development of the property portfolio, as well as planning and commissioning of construction of new premises. Its operations are divided into three business units: Finland, Sweden and the Baltic Countries. The firm operates 55 shopping centers in the Nordic countries: Sweden and Finland; Lithuania and Estonia The Company operates a number of subsidiaries, notably the wholly owned subsidiary Sektor Gruppen.

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Earnings Calls

2024 Q1
May 16, 2024
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Citycon's Q1 shows improved rental income, cost cutting, and strategic actions
2024 Q1
May 16, 2024

Citycon's Q1 performance saw a 6.5% increase in like-for-like net rental income, driven by higher rent indexations and solid core asset performance. The tenant sales rose by 3%, particularly in the groceries segment, which grew by 5%. The company completed a €48 million share issuance and a €300 million green bond, extending debt maturities and securing an investment-grade credit rating. Citycon also divested properties close to book value, targeting €350 million in further divestments. Cost-saving measures are projected to reduce annual G&A to €8-10 million less than in 2023, and the company reaffirmed its 2024 financial guidance.

Management

Mr. F. Scott Ball B.Sc.
Interim CEO & Vice Chairman
No Bio Available
Mr. Eero T. Sihvonen M.Sc. (Econ.)
CFO & Director
No Bio Available
Ms. Helen Metsvaht
Chief Operating Officer
No Bio Available
Ms. Kirsi Simola-Laaksonen
Chief Investment Officer
No Bio Available
Mr. Sakari Jarvela
VP of Corporate Finance & Investor Relations
No Bio Available
Mr. Peter Dimulkas
Vice President of Marketing
No Bio Available
Mr. Erik Lennhammar
Chief Development Officer
No Bio Available
Mr. Carl Johansson Angmo
Head of Investment
No Bio Available
Mr. Jussi Vyyrylainen
Senior Vice President of Leasing
No Bio Available

Contacts

Address
ETELA-SUOMEN
Espoo
Iso Omena, Piispansilta 9 A
Contacts
+358207664400.0
www.citycon.com