SES Spar European Shopping Centers (SES) reported positive results for 2024, building on the previous year’s performance across its portfolio of shopping centers in six European countries. The company recorded a 6.5% increase in gross sales revenue, totaling EUR 3.54 billion, while visitor numbers rose by 4.5% to reach 117 million. The company signed 490 new lease agreements or extensions across its centers, covering approximately 146,000 square meters—around one-sixth of its total leasable space. SES currently manages more than 855,000 square meters of retail space in 28 shopping malls, two retail parks, and one managed shopping street. It employs 435 people. In Austria, where SES operates 16 malls and additional retail formats, total sales exceeded EUR 2 billion—an increase of 3.5% over the previous year. EUROPARK Salzburg remained the highest-performing center in terms of turnover. WEBERZEILE Ried and HUMA ELEVEN in Vienna recorded the highest percentage increases in sales, while SILLPARK Innsbruck and MARIANDL Krems led in visitor growth. In addition to retail growth, SES expanded its portfolio in 2024 with the opening of its first hotel in Lienz, East Tyrol. The EUR 17 million project was completed in partnership with the Ultsch hotel group under the ‘Harry’s Home’ brand. Sales performance outside Austria also improved. Slovenian malls saw a 6% rise in shop partner revenue, reaching over EUR 748 million. Northern Italy malls generated nearly EUR 300 million in sales, and SES’s two Hungarian malls grew by 11%. EUROPARK Prague in the Czech Republic posted a 27% increase in store sales. Voucher sales grew modestly in Austria and Slovenia. SES introduced new self-service voucher machines in Austrian malls and partnered with service station operator Petrol to distribute DESETAK vouchers at 300 locations in Slovenia. Sustainability investments remained a focus. In 2024, SES allocated EUR 52 million to maintenance and energy-efficiency projects, including upgrades to heating and cooling systems, car park renovations, and continued LED conversions. These efforts resulted in a reduction of approximately 3.88 million kWh in energy consumption compared to the previous year. The company also expanded its photovoltaic (PV) system installations, with new systems going online in Austria and Slovenia. SES has now met its internal target for 2050—achieving 50% PV coverage of available roof space in Austrian malls—well ahead of schedule. A new strategic direction for the company was marked by a joint venture with the Vinzenz Gruppe Service to develop healthcare parks. The first such project will be integrated into the SILLPARK center in Innsbruck, with construction set to begin in spring 2025. In Croatia, SES began a EUR 40 million refurbishment and expansion of the KING CROSS mall in Zagreb. A separate development project in Varaždin is scheduled for completion in 2027. Plans to expand EUROPARK Salzburg are also underway. SES continues to provide real estate and facility management services for sister companies INTERSPAR and MAXIMARKT, including support for the roll-out of deposit bottle systems and infrastructure projects. The company also manages shopping centers on behalf of external investors, such as the Korzó center in Hungary, where SES’s management contract was extended for another five years. In 2024, SES maintained its community engagement activities by supporting local organizations and hosting educational and cultural events. Across its network, SES centers contributed more than EUR 670,000 to charitable initiatives and community partnerships.