Aroundtown Sa Ord (AANNF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for joining us for Around Town's nine-month 2025 results call. You can view the presentation on Around Town's website, either on the home section or on the financial reports of the investor relations section. Guiding you through the presentation today, CFO Jonas Tiltelnot, Executive Director Frank Rosin, Chief Capital Markets Officer Timothy Wright, Chief Sustainability Officer Limor Berman, Deputy CEO Kamal Deepman-Aktala and representatives from Grand City Properties are also present. For the duration of the call, all participants will be on 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 nine-month 2025 results presentation. Our portfolio continues to perform well, with the majority of the portfolio at 56% of residential and hotels, achieving strong operational results, benefiting from strong market tailwinds, paired with our ability to identify and extract upside potential. The office portfolio at 38% remains stable, although the economy continues to lag. Nevertheless, we see the outlook is improving, and we continue extracting positive rent-like-for-life performances. In addition, our conversion potential is increasing as we continue to identify more opportunities with the new regulation in Germany, especially the Bau-Turbo, further supporting conversion to residential, thus providing us more optionality to extract upside potential. We see the general sentiment continuing to improve and the economy is expected to move to a more positive territory next year, as expected by the German government supported b...