March 09, 2016

Sales exceed €1 billion at NEINVER-managed outlet centres in 2015

Sales exceed €1 billion at NEINVER-managed outlet centres in 2015

NEINVER, a Spanish company specialised in investment, development and management of retail properties—Europe’s second-largest operator of outlet centres—ended FY 2015 with very positive results for both foot traffic and sales at the outlet centres it manages in six European markets. Total sales for all the outlet centres it operates under The Style Outlets and FACTORY brands surpassed €1.056 billion, 10 percent more than in 2014. The centres’ foot traffic totalled 44.25 million visits, up 6 percent from the previous year.

"Our appraisal of FY 2015 is very positive, since most of the markets where we operate continued to have double-digit sales growth. In an increasingly competitive environment, these results vouch for the success of our management model, which has become a benchmark in our industry for investors, brands and shoppers alike,” explained Carlos González, NEINVER’s Managing Director.
In Poland, the five outlet centres that NEINVER manages under the FACTORY brand improved their combined sales by 15 percent over 2014 and recorded 13.8 million visitors, up 8 percent from 2014. In 2015, NEINVER also expanded FACTORY Ursus to 19,700 sqm of GLA, making it Warsaw’s largest outlet centre and adding top international brands.

In FY 2015, the retail properties managed by NEINVER showed very positive overall progress. Combined sales in 2015 at the 20 retail centres that the group manages were 10 percent above the 2014 figures, with a total of more than €1.228 billion. Foot traffic also improved considerably, rising by 5 percent to more than 57 million visits. These numbers do not include Galeria Katowicka in Poland, which was sold in November 2015; Nassica Getafe in Spain, for which no comparative data is available; or Megapark Barakaldo, which NEINVER has managed only since January of this year.

After signing the joint-venture agreement with KKR in September 2014 to acquire Nassica Getafe in Spain, after selling Galeria Katowicka in Poland in November 2015, and after signing an agreement with the Lar Group in January 2016 to manage Barakaldo Park in Spain (which includes a retail park and outlet centre), NEINVER now manages more than 566,000 sqm of GLA and 22 retail property assets, including shopping centres, retail parks and outlet centres.

The company also continues to manage Wroclaw Futura Park, featuring a retail park and outlet centre, which was sold by IRUS European Retail Property Fund.

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