Aroundtown Sa Ord (AANNF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everybody. Thank you for joining us for Around Town's full year 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, Jonas Tintenort, Executive Director, Frank Rosane, Chief Capital Markets Officer, Timothy Wright, Chief Sustainability Officer Limor Behrman, Deputy CSO Kamaldeep Manattala, 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 afternoon and thank you for joining us for our call for year 2025 result presentation. As you have noticed, we have launched a share-to-share voluntary tender offer for GCP shares and therefore came out earlier with the results. We published our results in parallel with GCP, so both companies' most updated numbers are the base for the transaction. We also announced our decision to recommend to distribute a dividend for 2025 after three years without a dividend payout. We will start with the FY 2025 presentation, and after that, we will continue with the offer presentation. After both presentations, we will start the Q&A session. 2025 was a year of progress for the group. We benefited from more supportive economic backdrop with further rate cuts by the ECB, improving inflation dynamics, and improving sentiment across Europe. In Germany, the government's sizable stimulus package and long-term investment plans have created a more construc...