LEG Immobilien SE (0QC9) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.234 and good morning everyone from Düsseldorf. 00:00:02.234 -- 00:00:08.163 Welcome to our call for our Q1 2025 results and thank you for your participation. 00:00:08.163 -- 00:00:13.330 We have in the call as always our entire management team with our CEO Lars von Lackum, 00:00:13.330 -- 00:00:18.157 our CFO Katrin Kuehling as well as our COO Volker Wiegel. 00:00:18.157 -- 00:00:23.224 You find the presentation document as well as the quarterly report and documents within 00:00:23.224 -- 00:00:28.382 the IR section of our homepage. Please note that there is also a disclaimer which 00:00:28.382 -- 00:00:33.567 you find on page 3 of our presentation. And without further ado, I hand it over 00:00:33.567 -- 00:00:34.908 to you, Lars. 00:00:34.908 -- 00:00:37.911 Thank you, Frank. A very good morning to all of you. 00:00:37.911 -- 00:00:43.095 We are well on track for our guidance which offers a 7% bottom line growth. 00:00:43.095 -- 00:00:46.759 Cash generation from our core business continues to rise. 00:00:46.759 -- 00:00:51.843 We grow in our core product. The integration of BCP is well on track. 00:00:51.843 -- 00:00:57.145 This portfolio and the organic growth supported our strong net cold rent increase 00:00:57.145 -- 00:00:59.830 of more than 7%, enabled 00:00:59.830 -- 00:01:04.717 us to further improve margins, and boosted AFFO by 28%. 00:01:04.717 -- 00:01:06.717 The 00:01:07.041 -- 00:01:12.570 strong AFFO level is partly affected by a slettish investment level compared to Q1 2024. 00:01:12.570 -- 00:01:14.513 Therefore, 00:01:14.513 -- 00:01:18.820 after the integration of BCP, we will increase investments for this portfolio in the 00:01:18.820 -- 00:01:25.004 year. We reiterate our investment guidance for the full year of at ...