UNIBAIL-RODAMCO SE : UNIBAIL-RODAMCO SE : Financial information as of March 31, 2013

 UNIBAIL-RODAMCO SE : UNIBAIL-RODAMCO SE : Financial information as of March
                                   31, 2013

Paris, Amsterdam, April 25, 2013

Press Release

Financial information as of March 31, 2013

1. Consolidated turnover

The turnover of  Unibail-Rodamco for the  first 3 months  of 2013 amounted  to 
€430.0 Mn (+1.6% compared to the same period in 2012):

in € Mn, excluding VAT                     Q1-2013       Q1-2012 (1)
Shopping centres                  288.3  272.1
Offices                           42.6  44.9
Convention Exhibition and Hotels  82.9  93.7
Rental income                     52.8  58.4
Services                          30.1  35.3
Other                             16.2  12.5
Total                             430.0  423.2

2. Gross Rental Income as of March 31, 2013

Gross Rental Income
in € Mn                                     Q1-2013        Q1-2012 (1)
Shopping centres                   288.3   272.1
France                             145.8   139.1
Spain                              41.3   36.0
Central Europe                     27.9   24.4
Nordic                             27.3   27.1
Austria                            26.3   26.5
Netherlands                        19.8   19.0
Offices                            42.6   44.9
France                             34.7   36.9
Other regions                     7.9  8.0
Convention Exhibition and Hotels   52.8   58.4
Total                              383.7   375.4

Note: (1) Q1-2012 figures restated following Unibail-Rodamco's early  adoption 
in 2013 of the new IFRS 10 and 11 rules. This change led to the  consolidation 
under the  equity method  of 23  companies previously  consolidated under  the 
proportional method. For comparison purposes,  please refer to the  "Financial 
information as of March 31, 2012" published on April 26, 2012 and available on
the Group's website www.unibail-rodamco.com

3. Major events

a. Tenant sales

Q1-2013 saw  a  deterioration  in the  macro-economic  environment  in  Europe 
characterized by the impact of austerity measures, rising unemployment and low
consumer confidence.
Whereas tenant sales in  Unibail-Rodamco's shopping centres^(2) contracted  by 
-1.8% in the first three months of 2013 compared to Q1-2012, the decrease  was 
limited to -0.9% for  large shopping centres (more  than 6 million visits  per 
annum) which represent the core of  the Group's strategy. Tenant sales in  the 
Group's shopping centres continued  to outperform national sales  indices^(3), 
with a spread of +250 bps through February 2013.
In addition to the unfavourable economic climate, tenant sales were negatively
impacted by a reduced number of shopping days (no February 29 in 2013,  Easter 
in April  in  2012)  and  the exceptionally  cold  weather  throughout  Europe 
affecting fashion sales.

b. Gross Rental Income^(1) as of March 31, 2013

Gross Rental Income (GRI) of the  shopping centre division amounted to  €288.3 
Mn for the first three  months of 2013, an increase  of +6.0% compared to  the 
same period in  2012. The growth  is driven by  the Group's leasing  activity, 
shopping centre deliveries (notably Confluence, El Faro and So Ouest in  2012) 
and acquisitions net of disposals completed by the Group.

In the office sector, the GRI decreased by -5.1% compared to 2012 to €42.6  Mn 
due to divestments completed in 2012 and assets under renovation.

GRI of the Convention Exhibition and Hotels sector decreased by -9.6% to €52.8
Mn due to the traditional seasonal nature of the activity.

c. Other events

Unibail-Rodamco successfully  opened  on  March  21,  2013  the  extension  of 
shopping centre  Centrum  Cerny Most  in  Prague, Czech  Republic.  The  fully 
renovated and extended 81,340 m² GLA mall saw its footfall increase by +63% in
the first month following the extension  opening, compared to the same  period 
last year.

On February 18, 2013, the Group successfully placed a €750 Mn bond maturing in
February 2021. The 8-year bond offers a fixed coupon of 2.375%. With an  order 
book reaching over €1.9  Bn, the placement was  2.5 times oversubscribed.  Net 
proceeds of this bond were used for general corporate purposes.

d. Outlook

Despite the challenging economic environment,  in light of the Group's  strong 
fundamentals, Unibail-Rodamco confirms its  confidence in achieving  recurring 
earnings per share growth of at least 5% for 2013.

(2) Tenant sales performance in Unibail-Rodamco's shopping centres  (excluding 
the Netherlands) as of March 31, 2013 (year-on-year evolution) on portfolio of
shopping centres  in operation  including extensions  of existing  assets  and 
excluding deliveries of new brownfield projects, acquisition of new assets and
assets under heavy refurbishment. Including Apple store sales estimated on the
basis of available public  information of Apple  Inc. (10-K published  October 
31, 2012, pages 30 and 34; 10-Q published January 24, 2013, pages 26 and 29).
(3) Tenant  sales performance  as defined  in  (2) as  of February  28,  2013. 
National indices  available  (year-on-year  evolution) as  of  February  2013: 
France - Institut  Français du Libre  Service; Spain -  Instituto Nacional  de 
Estadistica; Central Europe: Cesky  statisticky urad (Czech Republic),  Polska 
Rada Centrow Handlowych  (Poland); Austria  - Eurostat;  Nordic: HUI  Research 
(Sweden), Danmarks Statistik (Denmark), Statistikcentralen (Finland)

For further information, please contact:

Investor Relations
Paul Douay
+33 1 76 77 57 40

Media Relations
Camille Delomez
+33 1 76 77 57 94

About Unibail-Rodamco
Created in  1968, Unibail-Rodamco  SE is  Europe's largest  listed  commercial 
property company,  with a  presence in  12 EU  countries, and  a portfolio  of 
assets valued  at €29.3  billion as  of December  31, 2012.  As an  integrated 
operator, investor and  developer, the Group  aims to cover  the whole of  the 
real estate value creation chain. With the support of its 1,500 professionals,
Unibail-Rodamco applies  those skills  to highly  specialised market  segments 
such as large shopping centres of major European cities, and large offices and
convention & exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural,
city  planning  and  environmental  standards.  Its  long  term  approach  and 
sustainable vision focuses on the development or redevelopment of  outstanding 
places to shop, work and relax. Its commitment to environmental, economic  and 
social sustainability has been recognised by inclusion in the DJSI (World  and 
Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is  a member  of the CAC  40, AEX  25 and EuroSTOXX  50 indices.  It 
benefits from an A rating from Standard & Poor's and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com

Unibail-Rodamco 1Q13 turnover EN


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