LEG Immobilien SE (0QC9) Q2 2025 Earnings Call

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WEBVTT 00:00:00.217 -- 00:00:06.306 Good morning, everyone, from Dusseldorf. Welcome to our call for our H1 Results 2025, 00:00:06.306 -- 00:00:09.070 and thank you for your participation. 00:00:09.070 -- 00:00:14.338 As our COO, Volker Wiegel, is today in his well-deserved summer holidays, you have today 00:00:14.338 -- 00:00:19.385 in the call our CEO, Lars von Lackum, as well as our CFO, Katrin 00:00:19.385 -- 00:00:22.770 Köhling, who will guide you through the presentation. 00:00:22.770 -- 00:00:27.737 You'll find the presentation document as well as the quarterly report and documents within 00:00:27.737 -- 00:00:32.879 the IR section of our homepage. Please note that there is also a disclaimer, which you'll 00:00:32.879 -- 00:00:37.968 find on page three of our presentation. And without further ado, I hand it over 00:00:37.968 -- 00:00:39.131 to you, Lars. 00:00:39.131 -- 00:00:41.976 Thank you, Frank. A very good morning to all of you. 00:00:41.976 -- 00:00:46.123 Let's start, as always, with our summary slide on page six. 00:00:46.123 -- 00:00:51.853 It is, again, all about delivering strong financial IFRS and APRA results. 00:00:51.853 -- 00:00:55.499 Our H1 numbers provide clear evidence of that. 00:00:55.499 -- 00:00:59.003 AFFO is up by more than 15%, 00:00:59.003 -- 00:01:04.208 FFO1 by almost 11%, and EBITDA margin sits at a solid 00:01:04.208 -- 00:01:05.750 78.6%. 00:01:05.750 -- 00:01:07.750 Consequently, 00:01:08.292 -- 00:01:13.758 we are narrowing our AFFO guidance towards the upper half of the original range. 00:01:13.758 -- 00:01:18.781 We expect AFFO now between 215 and 225 00:01:19.023 -- 00:01:24.332 million euros. This translates into an again strong growth of 10% 00:01:24.332 -- 00:01:27.893 for the AFFO in 2025. 00:01:28.495 -- 00:01:33.78...