Aroundtown Sa Ord (AANNF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for joining us for Around Town's H1 2025 results 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 Bahen, CFO Eyal Ben-David, Executive Director Frank Rosain, Chief Capital Markets Officer Timothy Wright, Chief Sustainability Officer Limor Behrmann, Deputy CEO Kamal Deep Manatkala, Designated CFO Jonas Tintenort, 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 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, and thank you for joining us for our H1 2025 results presentation. Over the past month, we have observed positive developments, and we believe that we could be at a turning point. At the macro level, the struggling German economy is showing signs of recovery with sentiment improving, and GDP growth is expected to return to positive territory. Government stimulus plans are driving investments in critical infrastructure and we are beginning to see the positive effects from renewed private sector activity. At the same time, financing conditions have eased following the ECB's rate cuts. The trend in the transaction market has followed and accordingly, we have seen more transactions across the virus markets. However, this recovery has not been symmetric across all market players with smaller players and less liquid players continuing to face refinancing challenges which can open growth opportunities for us. Thro...