Montea Comm. VA (0LBY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good morning, and thank you all for joining our Montea Q1 results presentation. The first quarter shows strong operational performance with April earnings up 6% per share, like for like rental growth of 2.7% and occupancy still at a very healthy 99.6%. We also signed or renewed around 30,000 square meters of leases at an average 20% rent uplift, which is not a bad way to start the year. Track twenty seven remains firmly on track with 88% of the targeted investment volume already secured, started or under exclusive negotiations supported by a disciplined balance sheet. So in short, growth is moving, and the portfolio is almost fully led, and our space for growth is proving to be more than just a good tagline. As every trimester, I'm more than happy to present these results together with our CFO, Els, and with our Investor Relations, Inna. By the way, it's her birthday today. Else will start the presentation with our results, after which I will give a growth update. Ina will elaborate on the portfolio and market circumstances, after which Else will give an outlook, and I will close with our ESG targets. As every trimester after this presentation, the floor is open for your questions, which will be managed by Ina. Els? Thank you very much, Jules. At prior results, the EPS went up by 66% year on year, driven by organic rental growth, income from acquisitions, pre led developments and green investments, and of course, thanks to our clear disciplined cost control. Looking into more detail into the figures. Net rental income went up by 12% to EUR 37,300,000 for the first quarter of twenty twenty six, driven by a strong like for like rental growth of 2.7%, entirely linked to rent indexation. With property and overhead expenses going up by 11% to EUR 5,6...