Le Lézard
Classified in: Environment, Covid-19 virus
Subject: ACC

Citycon Reports Additional Details on May Rent Collection


CITYCON OYJ  Stock Exchange Release 

HELSINKI, June 25, 2020 /PRNewswire/ -- In the extraordinary circumstances followed by the outbreak of COVID-19 pandemic Citycon provided additional details on the rent collection level of April 2020 published on 12 May 2020. Similar to April, May rent collection remained stable and Citycon has collected and/or accrued as government assistance guarantees approximately 78% of its billed rent for the month of May.

The company has collected approximately 73% in cash from its tenants and has accrued approximately 5% of its billed rent which has been deferred until the tenants are able to collect the monies from the government subsidy programs to offset their fixed costs. Footfall has continued to improve, and the total footfall for week 25 was tracking at 86% compared to 2019. Average spend per visitor continues above prior year level and was 29% higher in May 2020 compared to May 2019.

The company expects to publish more detailed information on its trading and result as well as the impact of COVID-19 in its Q2 report in August.

Espoo, 25 May 2020

CITYCON OYJ

Further information:
F. Scott Ball
CEO
Tel. +46-8-562-532-11
[email protected]

Laura Jauhiainen
Head of Investor Relations
Mobile: +358-40-823-9497
[email protected]

Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

Citycon has investment-grade credit ratings from Moody's (Baa3), Standard & Poor's (BBB-) and Fitch (BBB-). Citycon Oyj's share is listed in Nasdaq Helsinki.

www.citycon.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/citycon-oyj/r/citycon-reports-additional-details-on-may-rent-collection,c3142024


These press releases may also interest you

at 11:19
On 29 March 2024, BTR New Material Group Co., Ltd. ("BTR")(835185.BJ), a global leader in battery materials, inked an investment agreement with the Moroccan government to erect a lithium battery ternary cathode material facility in the country. The...

at 10:43
NATSO, representing America's travel plazas and truck stops, and SIGMA: America's Leading Fuel Marketers, issued the following statement in response to the Biden Administration's Heavy-Duty Vehicle Greenhouse Gas Regulations and Standards Final Rule....

at 09:13
The trucking industry says new emission standards for heavy-duty trucks announced today by the Biden Administration have unachievable targets and will carry real consequences for the U.S. supply chain and movement of freight throughout the economy....

at 08:59
American Battery Technology Company (ABTC) , an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, today...

at 08:44
Environmental problems caused by population explosion such as global warming, natural resource depletion, deforestation, water shortage and plastic pollution are getting severe in the world. Regarding plastic pollution, micro-plastics, nano-plastics...

at 08:30
Today, Governor Gavin Newsom joins a team of neighborhood leaders and environmental justice organizations in a series of new ads (Regina, Tianna, Cesar, Nalleli, Community, Governor), to be aired statewide for the Campaign for a Safe and Healthy...



News published on and distributed by: