URW FINANCIAL STATEMENTS

Unibail-Rodamco-Westfield — balance sheet, income statement and cash flow trends

URWUnibail-Rodamco-Westfield

🇫🇷 France · PA · Real Estate · REIT - Retail

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue3.3 B €+9.1%

Gross Profit2.2 B €+17.5%

Operating Income2.3 B €—

EBITDA2.5 B €+50.7%

Net Income1.3 B €—

Peer Comparison· REIT - Retail

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
URW	2.5%	66.7%	76.0%	38.0%
KIM	4.4%	54.7%	71.8%	28.5%
REG	11.7%	47.9%	68.2%	38.1%
SCG	1.8%	71.2%	86.8%	66.2%
FRT	7.5%	53.6%	82.9%	38.6%
BRX	6.6%	60.1%	78.6%	32.0%
Industry median	8.1%	62.1%	76.5%	35.2%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity17.7 B €39%
Current Liabilities3.1 B €7%
Long-term Liabilities24.9 B €54%

Key Figures

YoY change

Total Assets49.7 B €-7.3%

Total Liabilities28 B €-19.1%

Total Equity17.7 B €+2.9%

Cash & ST Investments2.7 B €-51.3%

Total Debt24.5 B €-12.2%

Net Debt21.8 B €-2.6%

Peer Comparison· REIT - Retail

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
URW	1.27	138.4%	8.60	35.6%
KIM	2.32	79.9%	5.24	53.0%
REG	1.53	81.2%	4.70	52.8%
SCG	0.31	80.2%	6.27	53.4%
FRT	1.45	149.0%	4.43	36.4%
BRX	1.23	187.2%	4.89	33.4%
Industry median	0.83	82.3%	5.12	51.3%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow2 B €+28.3%

Capital Expenditures894.9 M €-24.2%

Free Cash Flow1.3 B €+215.5%

Dividends Paid-501.2 M €-1,807.7%

Peer Comparison· REIT - Retail

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
URW	61.3%	39.2%	26.8%	161.4%
KIM	52.7%	39.0%	16.6%	184.9%
REG	48.1%	34.5%	13.7%	126.3%
SCG	38.3%	37.6%	0.7%	57.8%
FRT	48.0%	40.3%	26.6%	124.3%
BRX	47.7%	47.7%	101.5%	149.3%
Industry median	48.1%	37.5%	17.4%	142.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.