Aroundtown Sa Ord (AANNF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for joining us for Around Town's Q1 2026 resource course. You can view this presentation on Around Town's website, either on the home section or under financial reports of the investor relations section. With me today are CEO Barak Barhen, CFO Jonas Kintelnot, Executive Director Frank Ruvine, Chief Capital Market Officer Timothy Wright, Chief Sustainability Officer Limor Berman, Deputy CEO Kamal Deetman Akhtala and representatives from Grand City Properties are also present. For the duration of the call, all participants will be on a listen-only mode. Following our presentation, you will have the opportunity for 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 and thank you for joining us for our Q1 2026 results presentations. We started the year strong and have proactively pursued the highly accretive transactions, which have strong impact on our earnings metrics, on an absolute as well as per share basis. Among others, these include a successful increase of our holding rate in Grand City in April and the €250 million share buyback program launched in January, which is nearly completed and further signing disposals to fuel future capital recycling. From an operational perspective, performance across the portfolio remains solid, supported by resilient fundamentals. Our living portfolio, including residential and hotels, which now account together for 53% of the portfolio, is continuing to perform very well, and we're tapping the strong internal growth potential. With offices, the demand is slowly picking up, but did not reach yet to former year's levels. The macroeconomic and geopolitical environment remains mixed, This is crea...