Citycon Oyj (COYJF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Eshel and Hilik will now present the results of Silicon and you can submit questions throughout the presentation and we will address them in the end and you can use the Q&A function at the bottom. Next I will give the speech to Eshel and Hilik. Thank you for coming. We will start the results of the six months. We had a very good Opening of the 2026. Our like-for-like growth is 5.6%. Our occupancy rate is 94.4. We lost around 0.9%. Retail average rent increased by 1% to 28.5 euro per square meter. Footfall growth like-for-like growth by 3.1% and the like-for-like tenant sales increased by 2.6%. The fair value grow by 2.7 million and NRI margin is 94.2. The key achievement in the first half, we signed leases for about 20,000.700 square meter. The leasing spread is 9.9%, which is impressive. The like-for-like general mall leasing increased by 26%, which is extraordinary. The operating expenses we cut for 5.5%. And we actually... buy back our bond for 26 and 27 in an amount of 252 million. We took a loan of 214 in order to stabilize our financial situation. The like for like NRI growth for the first After the year, you can see that Sweden donates almost 8%, Norway 5.8%, and Finland 4.1%. In total, the average is 5.6%, while the European average growth for this year is 3.5%. And this is actually the, I would say, third quarter, including the last quarter of last year. that we are actually beating the European average and we can see that it's not a coincidence, this is a trend. Go ahead. Regarding divestment, we signed a LOI for three assets in Finland, Murmanik, Rosikeskus and Trio. The deal is a conditional deal. On the day of the closing, the buyer which is Noga Finland will issue an IPO in the stock exchange in Tel Aviv and based on them success IPO we will do the tran...