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| Press releases |
| 07.09.10 | 7 September 2010: EPRA recognises Citycon's Annual Report as one of the best in Europe |
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At its annual conference, the European Public Real Estate Association (EPRA), representing listed real estate companies, acclaimed Citycon's Annual Report 2009 as one of the best in the industry. Every year, the EPRA assesses the annual reports and their financial statements sections of 80 European listed real estate companies, and rewards the best reports. For example, Citycon was praised for its Annual Report tables, which offer information of interest to investors in particular. According to the EPRA, property-specific information on the lease status, market value and occupancy rate was presented clearly and accurately. Very special acknowledgement was given to the presentation of net rental income by segment - the EPRA viewed Citycon's clear presentation of this information as a prime example to other companies. In the view of the EPRA, Citycon provided a straightforward presentation on how the company's net rental income has almost doubled in four years. It also gave a clear description of business development in recent years, for each operating country. "The EPRA's Annual Report survey reviews and compares reporting practices in the real estate industry, including all of Europe's largest listed real estate companies. For this very reason, the award is a highly regarded recognition of Citycon's investor communications, and of the long-term development efforts of the company's entire financial administration", states Eero Sihvonen, Citycon's Chief Financial Officer and Executive Vice President. The EPRA's mission is to make the voice of listed real estate companies heard in Europe, while promoting consistency in their reporting and, thus, comparability in the eyes of investors. Together with experts and listed companies from various sectors, the EPRA has established reporting standards and recommendations which are continuously updated. Alongside other EPRA members and European real estate companies, Citycon adheres to EPRA recommendations. The company has been and continues to be involved in the development of reporting. In particular, the Annual Report survey focuses on compliance with EPRA reporting standards. |
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| 30.08.10 | CITYCON’S CAPITAL MARKETS DAY, 22 SEPTEMBER 2010 |
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Citycon cordially invites you to the company's Capital Markets Day for investors, analysts and media on Wednesday, 22 September 2010 in Tallinn, Estonia.
You will hear the latest insights and updates on Citycon's strategy as well as the latest news from all the business units. You will also have an opportunity to meet members of Citycon's Board of Directors and Management Committee as well as other professionals. The programme 22 September 2010
7:30 - 9:30 Ferry from Helsinki to Tallinn
10:00 - 11:30 Asset tour to redeveloped, LEED- silver certified shopping centre Rocca al Mare and shopping centre Magistral, which may be extended in the future 13:00 - 16:30 Capital Markets Day programme in Swissôtel Tallinn, Tornimäe 3
Company's management and business unit representatives will focus on themes that are of interest to investors in current market. The agenda includes such topics as (re)development projects, leasing, financing alternatives, growth opportunities and environmental issues as well as an update on Baltic and especially Estonian economic environment. The conference programme can also be viewed as a live audio webcast through the internet pages at www.citycon.com. You can register for the event by sending an e-mail to: tiina.tahkolahti@citycon.fi or calling Tiina at +358 50 5471196. If needed, she provides also further information on ferry connections and hotels. Citycon takes care of dining and transportation expenses in Tallinn and the participants of their own travel expenses.
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| 14.07.10 | 14 July 2010: Citycon's Second Quarter Result Pubished |
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Citycon has published its Interim Report for 1 January - 30 June 2010. The report and other material can be downloaded below. Material: Interim Report Bulletin (pdf.)
Audiocast Presentation Q2 2010 (pdf.) - This presentation will be used in the audiocast
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| 16.06.10 | 16 June 2010: Citycon received recognition from investors |
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The results of the prestigious Thomson Reuters Extel Survey 2010 are in, naming Citycon's Eero Sihvonen the second best chief financial officer in Finland, and Hanna Jaakkola the fourth best investor relations professional. Voting participants included a vast array of investors, analysts, banking professionals and other key players of the investment industry. In the vote for best listed company, Citycon ranked immediately after Nokia and UPM.
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| 14.06.10 | Cornerstone laid of Myllypuro's new shopping centre |
Work is progressing rapidly on the construction site of the new shopping centre being built for Citycon at Myllypuro, Helsinki. On 9th June, the cornerstone of the new Myllypuro, which will rise on the site of its demolished namesake, was ceremonially laid in the presence of around 300 invited guests and Myllypuro residents. This is Citycon's first newly built shopping centre in Finland.
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| 02.06.10 | Clas Ohlson to Liljeholmstorget Galleria |
Citycon has signed a contract with Clas Ohlson to open a new store in Liljeholmenstorget in Stockholm. The retail area amounts approximately 1250 sq.m . and the new store is scheduled to open in October 2010.
Liljeholmstorget Galleria was opened in October 2009 and is owned by Citycon. The shopping centre has about 90 shops, restaurants and services. Liljeholmen is one of Stockholm's fastest growing areas with approximately 100 000 residents and 38 000 workers. Liljeholmen is also Stockholm's fifth-largest transportation hub and more than 40 000 passengers change means of transport in Liljeholmen every day. |
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| 01.06.10 | Citycon centralizes the provision of maintenance services of its properties in Finland to ISS Palvelut |
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Citycon Oyj and ISS Palvelut Oy have signed a partnership agreement, by which Citycon centralizes the provision of all key maintenance services of its properties to ISS Palvelut. The agreement covers the majority of shopping centres and other retail properties in Citycon's property portfolio in Finland and will enter into force at the beginning of June.
The agreement includes the cleaning and guarding services, services relating to the maintenance of the properties and user services in the shopping centres. Citycon does not outsource the maintenance management of the properties, but Citycon's own property managers will continue to be responsible for the properties and co-ordinate co-operation with ISS Palvelut in each shopping centre.
"With the co-operation with ISS Palvelut, we expect to see a high level of quality in both the services and approach. Cost-effectiveness, transparency and flexibility are the foundation on which future co-operation can be built," says Pirjo Aalto, Citycon's Retail Property Director. |
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| 21.04.10 | Citycon Published its First Quarter 2010 Results |
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Citycon published its Interim Report for 1 January - 31 March 2010.
The taped investor and analyst conference call can be views as an audio-cast at: The material can be down-loaded here:
Audiocast Presentation (shorter investor presentation, pdf.) - This presentation was used during the conference call
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| 30.03.10 | Stockholm's Liljeholmstorget to become Europe's first LEED platinum shopping centre |
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Liljehomstorget Galleria, a shopping centre developed and owned by Citycon, has been awarded a platinum LEED environmental certificate, the highest available. This Stockholm-based centre is the first shopping centre in Europe to achieve the highest LEED classification, and one of the world's few platinum-rated buildings of any kind. The LEED certificate, awarded by the U.S. Green Building Certification Institute, is the best recognized international classification system rating buildings' environmental impacts. "It provides an extremely comprehensive, multifaceted picture of a building's environmental load. The certificate is based on several sub-areas, on the basis of which a building's environmental impacts are assessed," emphasises Kirsi Borg, Citycon, Manager, Sustainability. "In terms of taking account of environmental issues, Citycon is a genuine forerunner. This award clearly demonstrates the company's commitment to sustainability and its ability to build in line with the toughest global standards. In the future, all of Citycon's development projects will be designed and built to comply with environmental certification criteria", states Petri Olkinuora, CEO of Citycon. Liljeholmstorget has an excellent location in Liljeholmen, an urban redevelopment area. The centre is integrated with a metro station, a bus service hub terminal and a tramline. Built underground, the parking hall optimises land use, which is hugely important to this shopping centre situated in a densely built city structure. Liljeholmen is one of Stockholm's fastest growing employment and residential districts. Water facilities within the centre use around 40 per cent less water than standard solutions. Energy simulations reveal an energy saving of 18.9 per cent based on standard comparison values. In addition, each set of retail premises has its own electricity meter, while air conditioning is based on district cooling and the centre's electricity is generated from wind power. The centre's waste sorting solutions guarantee a high degree of recycling, and 95 percent of waste from the construction phase was also recycled. Most construction material are locally produced, no more than 800 kilometres away from the centre. Indoor air quality is outstanding: ventilation exceeds the ASHRAE standard by 30 percent, in addition to which low-emission materials were selected as building materials, releasing the minimum odours and particles into indoor air. A special feature in Liljeholmstorget is the green roof between the shopping centre and the neighbouring office building. Even the parking hall promotes low emissions; low-emission cars are directed to separate, green parking grids. Leveraging plot efficiency and the aim to create a dense urban structure close to services, new apartments have been built on top of the shopping centre. LEED certification pays off "Solutions in pursuit of the highest, platinum-level LEED certification raised the building costs by around 1 to 2 percent," affirms Ulf Attebrant, Vice President, Swedish Operations. "During the service life of the building, this investment will repay itself through factors such as lower utility costs of the property. For example, long-term energy and water prices are unlikely to fall." In addition, Attebrant believes that certified environmental friendliness will make Liljeholmstorget progressively more desirable to prospective tenants, since many international retailers already take environmental factors into consideration when making rental decisions. Liljeholmstorget was opened in October 2010, with a huge success in terms of footfall and sales. Over 90 percent of visitors use public transport or arrive on foot. "This is a factor that has really surprised us. Clearly, the centre services the entire Stockholm downtown area, due to easy and convenient access by metro," says Attebrant. Liljeholmstorget is the Nordic countries' first platinum-level building and Europe's first platinum shopping centre. It already represents Citycon's third LEED-certificated project. Last summer, the Trio shopping centre in Finland was awarded the Nordic countries' first certificate, while at the beginning of 2010 the Rocca al Mare shopping centre attained the Baltic countries' first, silver certificate.
For further information, please contact:
Ulf Attebrant, Vice President, Swedish Operations
Additional information in English
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| 01.03.10 | Citycon's Annual and CSR Report Published |
Citycon's first combined Annual and Corporate Social Responsibility Report published. It can be down-loaded here. |
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| 10.02.10 | Citycon's Full Year 2009 Results Published |
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Citycon has published its Financial Results and Financial Statements for 1 January - 31 December 2009. Financial Results Bulletin (pdf.) Full Year 2009 Financial Statements (pdf.) Investor Presentation (pdf., long one) Short, Webcast Presentation (pdf.) This presentation is used during the conference call. Recorded web-cast: http://www.goodmoodtv.com/internettv/webcastvideoplayer.jsp?account=citycon&id=14256476&videoId=14861795&width=1024&height=768
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| 09.02.10 | Rocca al Mare shopping centre receives Baltics first-ever LEED certificate |
Rocca al Mare shopping centre is the first building in the Baltic countries to be awarded with LEED® (Leadership in Energy and Environmental Design) environmental certificate. Internationally recognized LEED certificate is given to buildings that are environmentally sustainable in their construction and operation. LEED Green Building Rating System is developed by the US Green Building Council. The certification of a construction project is based on six criteria: sustainable site, water efficiency, energy efficiency, materials and resources, indoor environmental quality and innovations in the design process. The evaluation is conducted by Green Building Certification Institute, which is a neutral third party operating under the U.S. Green Building Council. According to Citycon, the owner of the shopping centre, Rocca al Mare was one of the three LEED pilot projects carried out in the group. The applying process for a recognised environmental certificate lasted almost two years while Rocca al Mare shopping centre was redeveloped. "Discussions about climate change and energy saving have been in the agenda for developed countries for a while. We know that in a longer perspective we do not have an alternative to green economy. Following green principles is a key focus for Citycon in every development project," Citycon Oyj´s Vice President, Baltic Operations Harri Holmström said. "We are glad that our efforts in constructing Rocca al Mare have been recognised by highly acclaimed international standards," he added. According to Citycon Oyj's Manager of Environment and Sustainability Kirsi Borg all Citycon's future construction projects will be carried out according to environmental classification principles. The green principles applied in Rocca al Mare's construction have led to environmental as well as business profits: increased energy efficiency, improved recycling, less greenhouse gas emissions, as well as healthier and safer environment for occupants and visitors. "Building operations are nearly 40% of the solution to the global climate change challenge," said Rick Fedrizzi, President, CEO & Founding Chair, U.S. Green Building Council. "While climate change is a global problem, innovative companies like Citycon are addressing it through local solutions." "As Copenhagen's climate conference showed, it is difficult and time-consuming to find fast and effective solutions in interstate relations. This emphasises the importance of reducing energy consumption and behaving in an environmentally friendly manner on the level of individual companies and persons," said Mati Pops, Director of Rocca al Mare Shopping Centre. Today Citycon's management and Estonian Minister of the Environment reveal the LEED certificate on the wall of Rocca al Mare shopping centre. Sustainable business and green principles are highly important to Citycon and the company focuses on fully integrating them in its daily operations. For instance, Rocca al Mare shopping centre is the biggest consumer of green energy in Estonia. Moreover, green parking places for low carbon dioxide emission cars are provided near the entrances of the shopping centre. In addition to Rocca Al Mare, the first LEED certificate in Scandinavia was awarded to Citycon´s Trio shopping centre in Finland. The next Citycon's shopping centre in line for the international recognition is Liljeholmstorget shopping centre in Stockholm. LEED registrations in Scandinavia have increased considerably during last year. While in March 2009 there were only 8 LEED registrations in Finland and Sweden, today there are already 19 LEED registrations. This clearly shows that green thinking is becoming more valued by different companies.
For further information, please contact:
Harri Holmström, Vice President, Baltic Operations
Kirsi Borg, Manager, Environment and Sustainability
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| 03.02.10 | Citycon to Issue its Financial Statements and Financial Release on Full Year Results 2009 on 10 February |
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Citycon will publish its Financial Results and Financial Statements for 1 January - 31 December 2009 on Wednesday, 10 February approximately at 9 am Helsinki time (Helsinki time is EET, which is CET +1). The report will be available on Citycon's website immediately after publication.
Citycon's investor and analyst conference call and live web-casting will begin one hour later at 10 am Helsinki time. Web-casting can be followed live on Citycon's website www.citycon.com and participated by calling in.
Conference call numbers are: The teleconference and web-casting will be recorded and it will be available afterwards on Citycon's website. Helsinki, 3 February 2010 CITYCON OYJ For further information, please contact:
IRO Ms Hanna Jaakkola
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| 01.02.10 | 1 February: Citycon Oyj and ISS Palvelut Oy sign a Letter of Intent for the provision of key maintenance services on a partnership basis |
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Citycon intends to centralize the provision of all key maintenance services of its properties to ISS Palvelut. According to the Letter of Intent signed by Citycon and ISS, the aim is to arrange the provision and management of key maintenance services on a strategic partnership basis. The Letter of Intent between ISS and Citycon covers the majority of shopping centres and retail properties in Citycon's property portfolio in Finland. The partnership agreement under negotiation is to be signed in spring 2010 and put into effect during 2010.
Citycon's aim is to find a partner who provides comprehensive maintenance services. The service supplier must be able to offer cost-effective, quality property and user services not only for Citycon's own needs, but also for Citycon's tenants. ISS already has previous experience of providing cleaning, guarding and technical services, and property and user services for Citycon. - This partnership agreement is in line with our strategy, where ISS's function is to integrate the customer's support services. In effect ISS will create a management and service organisation for Citycon's needs. Cooperation with Citycon will strengthen ISS's position as the leading supplier of facility service solutions, director, Customer Solution Jussi Snällström from ISS Palvelut comments on the agreement. - We believe that the service solution offered by ISS, and the open operating model, meet well the requirements and expectations Citycon has for its maintenance service partners. With this starting cooperation, we expect to see a high level of quality in both the services and general approach. Cost-effectiveness, transparency and flexibility of operations are the foundation on which future continuity of our cooperation is built, says Pirjo Aalto, Citycon's Retail Property Director.
Further information
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