Eastnine AB (publ) (EAST) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and very warm welcome to IS9's second quarter result presentation. My name is Kestutis Sasnauskas and with me, Adela Colakovic, our new CFO. We will together guide you through this quarterly result and the latest news in the company. Before I start, I kindly ask you to post questions during our presentation and when the presentation is over, we will respond to your questions. So if we move to our second quarter, we deliver stable results. Our rental income is up slightly. We're coming from very high occupancy levels. So it's very difficult to increase our earnings significantly from 96.5% occupancy, which also increased during the quarter. Our net operating income, again, stable, somewhat lower over the first half year. But it's also the same for the profit and property management. It's a result of us actually building up organization to take our next step. And this is probably the main explanatory reason why the net results are somewhat lower. Our surplus ratio back again at 92.5. We have achieved now 8 times debt-to-BDA ratio and 45% loan-to-value, which actually enables us to do the acquisitions that we just announced this morning. And of course during the quarter we divested two properties in Latvia and today we announced acquisition of the bridge. And I will go into that acquisition in more detail further on in our presentation. So just briefly, we have approximately 258,000 square meters of leasable area, around a billion euros in total assets. The new transaction will add additional 300 million approximately in asset value and another 55,000 square meters. So we will be around 300,000 square meters of prime, prime office in our markets. You can see the gradual build-up of our portfolio. We actually went from first acquisition back in 2014 and now in this...