2010 Full year results - Unibail-Rodamco

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SIGNIFICANT INCREASE IN DEVELOPMENT PIPELINE Total Investment Cost € Bn €6.6 Bn Development pipeline by category €5.5 Bn Secured exclusivity projects 2.0 (3) Office & Other Brownfield €2.3 Bn 35% Retail Extension /Renovation €1.4 Bn 22% Secured exclusivity projects 2.5 (3) Controlled projects 2.9 (2) Office & Other Extension /Renovation €0.5 Bn 7% Development pipeline by phase Retail Brownfield €2.3 Bn 35% Controlled projects 1.8 (2) Committed projects 1.2 (1) Committed projects 1.7 01/01/2010 2009 31/12/2010 2010 (1) Secured exclusivity projects (3) €2.0 Bn 30% Controlled projects (2) €2.9 Bn 44% Committed projects (1) €1.7 Bn 26% • €1.1 Bn pipeline increase resulting from €1.5 Bn increase in projects and €0.4 Bn of deliveries in 2010 • 5 large new projects entered the pipeline: the Fuente de San Luis, Les Trois Pays, Les Portes de Gascogne and Le Cannet shopping centres and the Trinity office 58
The Total Investment Cost of the development pipeline as of December 31, 2010 came to €6.6 Bn. With €3.8 Bn, the retail sector makes up the largest part of the pipeline. Brownfield projects represent 60% of the retail pipeline, while extensions and renovations of existing malls make up the remaining 40%. The retail projects aim to increase GLA by approximately 718,000m² and to redevelop 99,000m². The value of the Offices & Others‟ pipeline (including Conventions & Exhibitions) amounts to €2.8 Bn. Brownfield projects, which aim to build approximately 374,000m² of new GLA, represent 83% of this investment. The remainder will be invested in redeveloping or refurbishing 144,000m² of existing assets. The evolution of the development pipeline shows that projects move forward and come closer to completion, while new projects are picked up. Committed projects as of December 31, 2010 amounted to €1.7 Bn (vs. €1.2 Bn in FY 2009), Controlled projects to €2.9 Bn (vs. €1.8 Bn in FY 2009) and Secured exclusivity projects to €2.0 Bn (vs. €2.5 Bn in FY 2009). (1) Committed projects: projects currently under construction, for which Unibail-Rodamco owns the land or building rights and has obtained all necessary administrative authorisations and permits (2) Controlled projects: projects in an advanced stage of studies, for which Unibail-Rodamco controls the land or building rights, but where not all administrative authorisations have been obtained yet (3) Secured exclusivity projects: projects for which Unibail-Rodamco has the exclusivity but where negotiations for building rights or project definition are still underway Figures main not add up due to rounding 59
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2010 Annual Results Back to growth
Page 3 and 4:
DISCLAIMER Unibail-Rodamco S.E., a
Page 6 and 7:
FULL-YEAR 2010 FINANCIAL RESULTS in
Page 8 and 9: ASSET VALUES UP AGAIN IN 2010 in
Page 10: OUTPERFORMING OPERATIONAL RESULTS L
Page 13 and 14: Total consolidated shopping centres
Page 15 and 16: Despite the impact of bad weather i
Page 17 and 18: Focusing on the French portfolio, w
Page 19 and 20: Unibail-Rodamco‟s shopping centre
Page 21 and 22: Unibail-Rodamco has been very activ
Page 23 and 24: Dynamic leasing activity, especiall
Page 25 and 26: Large shopping centres continue to
Page 27 and 28: La Maquinista was extended by 16,14
Page 29 and 30: Donau Zentrum was extended by 25,87
Page 31 and 32: Lyon Part-Dieu was extended by 14,9
Page 33 and 34: Another successful innovation in 20
Page 35 and 36: Mobile applications are becoming an
Page 37 and 38: The Paris market accounted for 43%
Page 39 and 40: The office division in France perfo
Page 41 and 42: The environment remained challengin
Page 44: A STRATEGY PERFECTLY TAILORED TO FI
Page 47 and 48: There is a strong appetite from inv
Page 49 and 50: Unibail-Rodamco is focusing its att
Page 51 and 52: On July 15, 2010, Unibail-Rodamco f
Page 53 and 54: Unibail-Rodamco is focusing on larg
Page 56 and 57: A UNIQUE DEVELOPMENT PIPELINE ACROS
Page 60 and 61: MAJOR ACHIEVEMENTS IN 2010 (1) Coun
Page 62 and 63: 50% OF JUMBOS TO BENEFIT FROM MASSI
Page 64 and 65: DELIVERING UNIQUE PROJECTS IN A LOW
Page 66: CHOOSING PRIME LOCATIONS IN PRIME C
Page 69 and 70: Construction works at Badajoz start
Page 71 and 72: Through the plan for “Grand Paris
Page 73 and 74: Unibail-Rodamco is investing in 2 t
Page 76 and 77: A SOUND FINANCIAL STRUCTURE AFTER D
Page 78 and 79: LOW COST OF DEBT SECURED FOR THE NE
Page 80 and 81: DISTRIBUTION • For 2010 fiscal ye
Page 82: OUTLOOK Täby Centrum - Greater Sto
Page 85 and 86: (1) Compound annual growth rate 85
Page 88: 2010 Annual Results Carré Sénart
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2010 Full year results - Unibail-Rodamco

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