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Investing.com -- Carmila shares fell 3.7% after the company released its third-quarter results showing decelerating retail sales and footfall growth.
Net rental income reached €301.4 million, increasing 9.9% year-over-year and 3.2% on a like-for-like basis. However, retailer sales grew just 0.7% while footfall increased 0.3% compared to the same period last year, showing a slowdown from the first half when these metrics rose 1.0% and 0.5% respectively.
The company confirmed its EBITDA margin should improve to 79% in 2025, representing a 130 basis point increase from 2024.
Carmila signed 646 leases over the nine-month period, with 467 of those completed during the first half. The average rental uplift was 2.6%, down from 3.3% in the first half.
Financial occupancy remained stable year-over-year at 95.3% but declined slightly from 96.0% at the half-year mark. The collection rate improved to 96.6%, up 50 basis points compared to last year.
The company announced it will launch a third share buyback program of €10 million starting Friday.
In early October, Carmila successfully issued a second €300 million Green Bond maturing in 2033 with a fixed annual coupon of 3.75%, representing a spread of 130 basis points above the benchmark rate.
The company reaffirmed its 2025 recurring earnings per share guidance of €1.79, which represents 7.0% growth compared to 2024.
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