Citycon Oyj (COYJF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Mohamed, everybody, good morning. Happy to have you here on this Friday to summarize our CityCon first quarter of 2026. Next to me is Chirik, and after I will give you the management review, the operational, I will leave the floor to Chirik. We had a solid first quarter. And the operational results are the following. We have like-for-like growth in NRI, 4.5%. Our retail occupancy is almost 95, 94.8. The rent per square meter grew by 0.9% to 28.4 euro per square meter. The footfall growth... grow by 2.1%, and the tenant sales growth by 3.5%, which is a good indicator. Our valuation grow by 2.2 million euro, and the NRI margin is almost 90%, 89.9. The key achievement in the quarter, we focus on the general mall leasing, and we achieve growth of 25% between the years. and we will keep focus on that. This is what we call here money on the floor. We signed at least 18.7 thousand square meter of retail and we decrease our administrative cost by 17.5%. We have signed two loans for almost 500 million euro, 490. And we have additionally accordion of 250 million euros. So it's a good backup to our facility. The cash flow is continued to be strong. The like-for-like growth, as I mentioned before, is 4.5%. Norway donate 4.8%. And Sweden, Denmark, Finland, and Estonia, each one of them 4.5%. And on the right side, you can see the growth of the price per square meter during the quarters. In general, more leasing, as I mentioned, we focus in this year and we have a growth of 25%. A new long-term specialty leasing deals signed and opened during the first quarter. New media and advertising agreement with the providers has been signed. New possibilities to create and reshaping centers in order to have more GMLs. An energy project which will generate new revenue in the coming soon. We ...