Conduit Holdings Limited (CRE) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.595 Good day, everyone, and welcome to Conduit's 2026 Interim Results Conference Call. 00:00:05.595 -- 00:00:08.117 Thank you for joining us. 00:00:08.117 -- 00:00:13.161 On the call are Neil Eckert, Chief Executive Officer, Elaine Whelan, 00:00:13.161 -- 00:00:19.164 Chief Financial Officer, and Stephen Possilway, Chief Underwriting Officer. 00:00:20.467 -- 00:00:24.910 Please note our disclaimer language on slide two. 00:00:24.910 -- 00:00:30.053 I will now turn the call over to our CEO, Neil Eckert. 00:00:31.911 -- 00:00:37.153 Thanks Brett and welcome everyone. Today's presentation will cover our business performance 00:00:37.153 -- 00:00:40.193 for the first half of 2026 00:00:40.214 -- 00:00:44.996 as well as an update on market conditions and the outlook. 00:00:44.996 -- 00:00:49.777 Steve will cover performance in each of our segments and Elaine will provide some additional 00:00:49.777 -- 00:00:54.939 detail on our financial and investment highlights for the period before closing 00:00:54.939 -- 00:00:58.260 remarks and time for questions. 00:00:59.342 -- 00:01:04.023 I'm pleased to report a solid first half performance for 2026. 00:01:04.023 -- 00:01:09.044 We generated comprehensive income of $80.3 million and 00:01:09.044 -- 00:01:11.785 a return on equity of $7.8 00:01:11.785 -- 00:01:16.246 while growing tangible net assets per share by 8.4% during the first half and 23.2% over 00:01:16.246 -- 00:01:18.946 the past year. 00:01:23.822 -- 00:01:28.604 These are strong levels of shareholder value creation and a meaningful improvement compared 00:01:28.604 -- 00:01:32.105 to our performance in the prior year. 00:01:32.186 -- 00:01:36.728 As market conditions have become more competitive, we have remained disciplined in our 00...