HELSINKI, May 16, 2017 /PRNewswire/ --
Citycon Oyj Investor News 16 May 2017 at 8.30 hrs EET
Citycon hosts a Capital Markets Day for investors, analysts and media today, Tuesday, 16 May at Iso Omena in Espoo, Finland. The purpose of the day is to provide an update on Citycon's positioning, strategy execution and key focus areas going forward. Citycon's outlook for 2017 remains unchanged.
CEO Marcel Kokkeel:
"Since the strategy update in 2011, we have made good progress to become the leading shopping centre specialist in the Nordics. By providing urban convenience in the heart of communities we are committed to connecting communities with everyday services. As Citycon's shopping centres are well located in the heart of urban areas and connected to public transportation, the centres are well positioned in the rapidly changing retail environment as they provide customers with 'More than shopping'.
Today, we are hosting investors, analysts and media in our flagship shopping centre Iso Omena in Espoo. This asset is an excellent example of our strategy to develop shopping centres in which diverse everyday shopping and services are complemented by a variety of food and beverage, public services, such as healthcare and library, as well as leisure and entertainment.
The company is committed to continue recycling capital and investing in the fastest growing cities in the Nordics whilst maintaining a Loan-to-Value within the range of 40-45%. In 2022 we expect that 80-90% of our portfolio will be prime assets in capital areas. In addition to the 800 million euro retail (re)development pipeline, we have identified approximately 4,000 residential building rights that underpin the urban potential of our assets."
Agenda for Capital Markets Day 2017:
9.00 More than shopping
Marcel Kokkeel, CEO
10.00 Strong financing fundamentals
Eero Sihvonen, CFO & Exec. VP
10.30 Coffee break
10.45 Operational improvement
Jurn Hoeksema, COO
11.15 Nordic market and economies with special focus on Finland
Dr. Heidi Schauman, Chief Economist Aktia Bank
12.45=> Asset tours in Iso Omena, Lippulaiva and Myyrmanni
On Wednesday there will be additional asset tours in Stockholm visiting Liljeholmstorget Galleria, Kista Galleria and Jakobsbergs Centrum.
All presentations can be followed via a live webcast at http://www.citycon.com/cmd2017 on Citycon's website today on 16 May 2017 approximately at 9 am EET.
Recorded webcast and all the materials will be available afterwards on Citycon's website.
For further information, please contact:
Vice President, Investor Relations and Communications
Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total approximately EUR 5 billion and with market capitalisation of EUR 2 billion. For more information about Citycon, please visit www.citycon.com
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SOURCE Citycon Oyj