{"id":19741,"date":"2024-03-10T09:48:03","date_gmt":"2024-03-10T09:48:03","guid":{"rendered":"https:\/\/eavest.fr\/?post_type=eavestpedia&#038;p=19741"},"modified":"2025-06-03T13:19:29","modified_gmt":"2025-06-03T13:19:29","slug":"analyse-de-laction-klepierre","status":"publish","type":"eavestpedia","link":"https:\/\/eavest.fr\/en\/eavestpedia\/analyse-de-laction-klepierre\/","title":{"rendered":"Analyse de l\u2019action Kl\u00e9pierre"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-19748 aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-300x216.png\" alt=\"Logo Kl\u00e9pierre\" width=\"335\" height=\"241\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-300x216.png 300w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-1024x736.png 1024w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-768x552.png 768w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-1536x1104.png 1536w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-1100x790.png 1100w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto-800x575.png 800w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/07\/logo_klepierre_signature_vecto.png 1687w\" sizes=\"(max-width: 335px) 100vw, 335px\" \/><\/p>\n<h2 style=\"text-align: justify;\"><strong>Pr\u00e9sentation de Kl\u00e9pierre :<\/strong><\/h2>\n<p style=\"text-align: justify;\">Kl\u00e9pierre est un leader europ\u00e9en dans le secteur de la gestion et de la promotion de centres commerciaux. Fond\u00e9e en 1990, la soci\u00e9t\u00e9 est reconnue pour son expertise en mati\u00e8re de d\u00e9veloppement et de gestion de centres commerciaux, offrant des espaces de vente de premier choix \u00e0 des marques prestigieuses. Avec plus de 100 centres commerciaux dans 16 pays europ\u00e9ens, Kl\u00e9pierre se distingue par son approche innovante en mati\u00e8re de design, de gestion et de marketing. L\u2019entreprise met un point d\u2019honneur \u00e0 offrir des environnements de shopping attrayants et modernes tout en int\u00e9grant des pratiques durables et \u00e9co-responsables dans ses op\u00e9rations.<\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: justify;\"><strong>Points cl\u00e9s :<\/strong><\/h2>\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"78d20ac6-f2d3-48cf-b8dd-ef49210aeb3b\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<div class=\"flex-shrink-0 flex flex-col relative items-end\">\n<div class=\"pt-0\">\n<div class=\"gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full\">\n<div class=\"relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8\">\n<ul>\n<li data-start=\"130\" data-end=\"709\">En 2024, Kl\u00e9pierre a enregistr\u00e9 une performance financi\u00e8re solide, avec des revenus locatifs nets atteignant 1,066 milliard d\u2019euros, en hausse de 6,3 % \u00e0 p\u00e9rim\u00e8tre constant par rapport \u00e0 l\u2019exercice pr\u00e9c\u00e9dent. Cette croissance s\u2019appuie sur une forte dynamique de commercialisation et une fr\u00e9quentation en hausse de 2,5 % dans ses centres commerciaux. Le cash-flow net courant par action s\u2019est \u00e9tabli \u00e0 2,60 euros, en progression de 5,3 %, d\u00e9passant l\u2019objectif initial de 2,55 euros. Au premier trimestre 2025, la tendance reste positive, port\u00e9e par une activit\u00e9 locative soutenue.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li data-start=\"711\" data-end=\"1213\">La performance de l\u2019ann\u00e9e a \u00e9t\u00e9 tir\u00e9e par l\u2019exc\u00e9dent brut d\u2019exploitation (EBE), qui s\u2019est \u00e9lev\u00e9 \u00e0 985,3 millions d\u2019euros, en croissance de 6,9 % par rapport \u00e0 2023. Cette progression refl\u00e8te la capacit\u00e9 du groupe \u00e0 ma\u00eetriser ses charges et \u00e0 g\u00e9n\u00e9rer des revenus r\u00e9currents malgr\u00e9 un contexte \u00e9conomique encore contrast\u00e9 en Europe. Le taux d\u2019occupation des centres commerciaux a atteint 96,5 %, en hausse de 50 points de base sur un an, confirmant la forte attractivit\u00e9 des actifs d\u00e9tenus par Kl\u00e9pierre.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li data-start=\"1215\" data-end=\"1652\">Le r\u00e9sultat net consolid\u00e9 IFRS s\u2019est \u00e9tabli \u00e0 1,249 milliard d\u2019euros, dont 1,097 milliard pour la part du Groupe. Cette performance permet au conseil d\u2019administration de proposer un dividende de 1,85 euro par action, en hausse par rapport aux 1,80 euro distribu\u00e9s au titre de l\u2019ann\u00e9e pr\u00e9c\u00e9dente. Le taux d\u2019effort des commer\u00e7ants est rest\u00e9 contenu \u00e0 12,6 %, en l\u00e9g\u00e8re am\u00e9lioration, traduisant une politique locative \u00e9quilibr\u00e9e et durable.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2><strong>Recommandations des analystes\u00a0:<\/strong><\/h2>\n<ul>\n<li><strong>Barclays<\/strong> maintient sa recommandation de <span style=\"color: #008000;\"><strong>surpond\u00e9rer<\/strong><\/span> avec un objectif de cours relev\u00e9 de <strong>31 \u00e0 34 EUR<\/strong>.<\/li>\n<li><strong>JP Morgan<\/strong> maintient sa recommandation de <span style=\"color: #008000;\"><strong>sous-pond\u00e9rer<\/strong><\/span> avec un objectif de cours relev\u00e9 de <strong>30 \u00e0 31 EUR.<\/strong><\/li>\n<li><strong>Berenberg<\/strong> a annonc\u00e9 relever sa recommandation <span style=\"color: #008000;\"><strong>d&#8217;achat<\/strong><\/span>, avec un objectif de cours port\u00e9 de <strong>33 \u00e0 35 EUR.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-20871 size-full aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-05-21-094351.png\" alt=\"\" width=\"561\" height=\"244\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-05-21-094351.png 561w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-05-21-094351-300x130.png 300w\" sizes=\"(max-width: 561px) 100vw, 561px\" \/><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2><strong>Dividendes et pr\u00e9visions :<\/strong><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-20867 size-full aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-05-21-093430.png\" alt=\"\" width=\"562\" height=\"295\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-05-21-093430.png 562w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/Capture-decran-2025-05-21-093430-300x157.png 300w\" sizes=\"(max-width: 562px) 100vw, 562px\" \/><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2><strong>Cours de l\u2019action Klepierre au 03\/06\/2025 :<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-21134 aligncenter\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre.png\" alt=\"\" width=\"941\" height=\"653\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre.png 3587w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-300x208.png 300w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-1024x711.png 1024w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-768x533.png 768w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-1536x1067.png 1536w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-2048x1422.png 2048w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-1900x1319.png 1900w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-1100x764.png 1100w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/02\/Graphe-Klepierre-800x556.png 800w\" sizes=\"(max-width: 941px) 100vw, 941px\" \/><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-18599\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2023\/02\/Capture.jpg\" alt=\"\" width=\"27\" height=\"23\" \/>\u00a0\u00a0<span style=\"color: #ff0000;\">Avertissement :<\/span><\/strong><\/p>\n<p>Les donn\u00e9es relatives aux performances pass\u00e9es et\/ou simulations de performances pass\u00e9es ont trait ou se r\u00e9f\u00e8rent \u00e0 des p\u00e9riodes pass\u00e9es et ne sont pas un indicateur fiable des r\u00e9sultats futurs. Ceci est valable \u00e9galement pour les donn\u00e9es historiques de march\u00e9. Cette pr\u00e9sentation ne fait pas office de conseil en investissement.<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.produitsensouscription.com\/?code=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\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-18775\" title=\"Premi\u00e8re marketplace de produits structur\u00e9s\" src=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie.png\" alt=\"Premi\u00e8re marketplace de produits structur\u00e9s\" width=\"1000\" height=\"306\" srcset=\"https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie.png 3963w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-300x92.png 300w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1024x313.png 1024w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-768x235.png 768w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1536x470.png 1536w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-2048x627.png 2048w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1900x582.png 1900w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-1100x337.png 1100w, https:\/\/eavest.fr\/wp-content\/uploads\/2024\/03\/ELEMENTS_Plan-de-travail-1-copie-800x245.png 800w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n","protected":false},"featured_media":0,"template":"","meta":[],"sujet":[],"sous-categorie-titre":[],"_links":{"self":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/eavestpedia\/19741\/"}],"collection":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/eavestpedia\/"}],"about":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/types\/eavestpedia\/"}],"wp:attachment":[{"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/media\/?parent=19741"}],"wp:term":[{"taxonomy":"sujet","embeddable":true,"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/sujet\/?post=19741"},{"taxonomy":"sous-categorie-titre","embeddable":true,"href":"https:\/\/eavest.fr\/en\/wp-json\/wp\/v2\/sous-categorie-titre\/?post=19741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}