Aedifica Sicafi Bruxelle (AEDFF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Welcome to the annual results presentation of iDificath. We will start the session right now. We have more or less one hour available, and I do apologize because we really have back-to-back meetings today, so we don't have much time to really go beyond the one hour that we've scheduled. As usual, the results will be presented by Ingrid CFO and myself, and we will walk you first of all through the slide deck, a couple of selected slides from the somewhat bigger deck that you will find available on the website, and then afterwards take your questions. so not to lose any more time starting the presentation. And as a quick introduction before Ingrid will take over and walk you through the numbers, a quick view on what really happened in 2025 and how we perceived 2025. And I think the best way of explaining it is by having a quick look at this slide, looking at what we were planning to do and what we really did. I think one of the first things that in our view are quite important is that the investment market and the project development market in healthcare real estate is back up and running. We see clearly a more dynamic market, we'll go into that and the reasons why, but we also see it in our own numbers and what we have been doing. So we have been refilling development pipelines, acquiring standing assets, more than we expected, so for close to 300 million euros, and we do see clearly compared to 2024 that this number is going upwards. Looking at deliveries coming out of our development pipeline, we are more or less on top It's one or two of these projects that have been delivered just after the new year, but we're actually more or less on target. Now, compared to 2024, this is a lower number in nominal value, but it basically reflects the mark...