The positive performance in the first quarter confirms the solid momentum observed in 2024. Going forward, despite the volatile macroeconomic and geopolitical context, Klépierre has complete confidence in its ability to continue to deliver growth, capitalizing on its best-in-class portfolio of dominant malls, operating expertise, and leading credit ratings in Europe. Consequently, the Group is reiterating its 2025 guidance and expects to generate a 3% increase in EBITDA ( 2 ) and net current cash flow per share of €2.60-2.65 in 2025.