Feb 10 (Reuters) - Unibail-Rodamco-Westfield SE URW.AS :
* REG-UNIBAIL-RODAMCO-WESTFIELD REPORTS FY-2020 EARNINGS
* URW - FOCUSED OPERATIONAL PLAN FOR 2021 AND CLEAR COMMITMENT TO DELEVERAGING - URW WILL EMERGE AS A STRONGER BUSINESS HARNESSING MARKET REBOUND
* URW - EUR 11.4 BN IN CASH AND AVAILABLE CREDIT FACILITIES AT YEAR END
* URW - STRONG START TO 2020 BUT ONLY 70 DAYS OF NORMAL OPERATIONS, MOST OF YEAR SUBJECT TO VARIOUS RESTRICTIONS AND 93 DAYS ON AVERAGE "CLOSED"
* URW - LIKE-FOR-LIKE SHOPPING CENTRE NET RENTAL INCOME ("NRI") DOWN -24%, DRIVEN BY RENT RELIEF AND DOUBTFUL DEBTORS AS URW WAS HEAVILY IMPACTED DUE TO CENTRAL LOCATIONS AND F&B EXPOSURE
* URW - EUR 2.3 BN OF DISPOSALS ACHIEVED INCLUDING SALE OF SHIFT AND LES VILLAGES 3, 4 AND 6 OFFICE BUILDINGS, AND A PORTFOLIO OF FIVE FRENCH SHOPPING CENTRES
* URW - URW WILL COMPLETE REMAINDER OF EUR 4.0 BN OF EUROPEAN DISPOSALS AS WELL AS IMPLEMENT A PROGRAMME TO SIGNIFICANTLY REDUCE ITS FINANCIAL EXPOSURE TO US
* URW - FY NET RENTAL INCOME EUR 1.79 BILLION VERSUS EUR 2.49 BILLION YEAR AGO
* URW - FY ADJUSTED RECURRING EPS EUR 7.28 VERSUS EUR 12.37 YEAR AGO
* URW - FY RECURRING NET RESULT EUR 1.06 BILLION VERSUS EUR 1.76 BILLION YEAR AGO
* URW - FIRST QUARTERS OF 2021: CHALLENGING CONDITIONS TO REMAIN IN PLACE WITH OPERATING RESTRICTIONS
* URW - YEAR END 2021: EXPECTED START OF RECOVERY VARYING BY MARKET, DEPENDING ON INFECTION RATE, VACCINATION ROLL OUT AND GOVERNMENT STIMULUS PROGRAMMES
* URW - URW SE'S SIIC DISTRIBUTION OBLIGATION, STANDING AT EUR 212.5 MN AS AT DECEMBER 31, 2020, WILL BE DELAYED UNTIL URW SE HAS SUFFICIENT STATUTORY RESULTS TO MEET OBLIGATION
* URW - GROUP HAS DECIDED TO SUSPEND PAYMENT OF A DIVIDEND FOR ITS FISCAL YEARS 2020, 2021 AND 2022
* URW - URW'S OPERATIONAL RESULTS WILL CLEARLY CONTINUE TO BE IMPACTED BY PANDEMIC IN 2021
* URW - IN ADDITION, 2021 IS LIKELY TO REMAIN A CHALLENGING YEAR FOR GROUP'S CONVENTION & EXHIBITION AND AIRPORTS BUSINESSES
* URW - URW HAS ALSO REDUCED DEVELOPMENT PIPELINE TO EUR 4.4 BN, DOWN FROM EUR 8.3 BN AS AT DECEMBER 31, 2019
* URW - URW IS CURRENTLY NOT PROVIDING EARNINGS GUIDANCE FOR 2021
* URW - GUIDANCE WILL BE PROVIDED WHEN GROUP HAS CLEARER VISIBILITY ON LIFTING OF RESTRICTIONS AND SUBSEQUENT ECONOMIC RECOVERY
* URW - GROUP WILL LIMIT OVERALL CAPITAL EXPENDITURE FOR NEXT TWO YEARS TO EUR 2 BN IN TOTAL
* URW - LOOKING FORWARD, GROUP SEES GOOD PROSPECTS FOR A SOLID RECOVERY STARTING AT SOME POINT IN SECOND HALF OF YEAR
* URW - GOVERNMENT SUPPORT MEANS THAT CONSUMER FINANCES IN GROUP'S MARKETS REMAIN ROBUST
* URW - URW INTENDS TO COMPLETE REMAINING EUR 3.2 BN EUROPEAN DISPOSALS BY YEAR END 2022
* URW - WILL IMPLEMENT IN 2021 / 2022 A PROGRAMME TO SIGNIFICANTLY REDUCE ITS FINANCIAL EXPOSURE TO US WHEN INVESTMENT MARKET REOPENS WHICH SHOULD HAPPEN WITH EXPECTED US ECONOMY REBOUND IN 2022
* URW - AS AT FEBRUARY 10, APPROXIMATELY 52% OF URW'S SHOPPING CENTRES ARE RESTRICTED FROM TRADING EXCEPT FOR "ESSENTIAL" STORES
* URW - STRONG LIQUIDITY POSITION WITH EUR 2.1 BN OF CASH AND EUR 9.2 BN OF UNDRAWN CREDIT FACILITIES AS AT DECEMBER 31, 2020