Aroundtown Sa Ord (AANNF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

everybody. Thank you for joining us for Around Town's Q1 2025 Resorts Call. You can view this presentation on Around Town's website, either on the home section or under financial reports of the investor relations section. Guiding you through the presentation today will be CEO Barak Varchen, CFO Eyal Ben-David, Executive Director Frank Rosin, Investor Relations Timothy Wright, Chief Sustainability Officer Limor Berman, Deputy CFO Jonas Tintelnoth, CFO of Hotels Kamal Deepmanektala, and representatives from Grand City Properties are also present. For the duration of the call, all participants will be on listen-only mode. During our presentation, you will have the opportunity to ask questions. With that, I would like to hand over to Barak and the rest of the team who will guide you through the presentation of our results. Good morning, everyone, and thank you for joining our first quarter 2025 results presentation. We're happy to present a good start of 2025 with solid operational achievements, which has more than offset the impact of the disposal completed over the past period, positioning us well on track for our 2025 guidance. Although markets experience short-term volatility driven by macroeconomic and geopolitical uncertainty, our business has continued to perform resiliently with no material impact from these external factors. Importantly, the downward trend in interest rates has persisted into 2025. We saw further rate cuts both during and after the reporting period, which have created a more favorable landscape for financing and refinancing. This was clearly reflected in the strong investor demand of our latest bond issuance two weeks ago, where we achieved a 1.3 percentage point lower coupon compared to our last issuance in July of last year, reflecting the sig...