Montea Comm. VA (0LBY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Thank you all for joining our half-year analyst and investor call. I hope you've had a great summer because we are ready to present to you some sunny results. As always, I am joined by my two colleagues, Els Verwaake, our CFO, and Ina Maslova, our investor relations manager. Together, we will guide you through our strong results. With Els, I will start by sharing the key highlights. I will then give you an update on our growth, and then Ina will walk you through both our portfolio and our markets. Els will return with what you are probably most eager to hear, our outlook, and I will close with an update on the progress of our ESG targets. Finally, as always, we look forward to your questions. Ina will lead us through the Q&A session. Let's start with the highlights. As you see at Montea, all lights are on green. We are advancing on our growth. We now reach 3 billion euros portfolio. We have 150,000 square meters that we have either signed in new leases or renegotiated leases. And we were able to increase the rents by 6% on those leases. And we have the highest occupancy rates of all logistic players in the continent. So, Els, this great performance, what does it do to our results? Good question, Jo. The EPRA results increased by 20% year-on-year to €54 million. The EPS increased by 6% year-on-year to €2.35 per share, despite an increase in the weighted average number of shares by 14%. The net result stands at 77.5 million and includes, beside the EPRA result, a 13.5 million positive portfolio revaluation and a 7 million deferred tax assets. The net result per share stands at 3.40 euro per share. Looking into more details into our financial figures, the net rental income increased by 23%, driven by strong rental growth and, of cours...