Eurocommercial Pptys N V (ECMPF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the EuroCommercial Half-Year 2025 Results Conference. For the first part of this call, all participants will be in listen-only mode. And afterwards, there will be a question-and-answer session. If you wish to ask a question, please press pound key 5 on your telephone keypad. I would now like to hand to Ilaria Pitaloni, Investor Relations Officer of the company. Good morning, everyone, and welcome. I am Ilaria Vitaloni, Euro Commercial Investor Relations Officer. We are very pleased to have you with us today. This call will be hosted by our CEO, Evert-Jan van Garderen, and our CFO, Roberto Fraticelli. Together, they will present the half-year results covering our operational performance, financial position, and strategic progresses. After the presentation, we will open the floor to your questions. With that, I hand over to our CEO, Evert-Jan van Garderen. Thank you, Ilaria. Ladies and gentlemen, good morning and welcome to our half-year 2025 results presentation. It's a pleasure to share with you the progress we have made in the first six months of this year. At your commercial, our strategy is clear and consistent. Create vibrant shopping destinations, deliver resilient growth, and generate long-term value for our shareholders, tenants and communities. Today, I will walk you through our operational highlights, leasing activity, re-merchandising projects and sustainability achievements. And afterwards, my colleague Roberto Fraticelli, CFO, will talk about the financial results and the guidance. Let me begin with our operational highlights. In the first half of 2025, we achieved like-for-like rental growth of 3%, supported by healthy leasing demand and resilient retail sales. We signed 296 lease transactions in the first half with an average...