Tag Immobilien Ag (TAGOF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the TAG Immobilien Public Publication of Interim Report Q2 2025 Conference Call. I am Valentina, the Corvus Call Operator. I would like to remind you that all participants will be list in only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing STA and 1 on your telephone. For operator assistance, please press STA and 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Martin Thiel, CFO. Please go ahead. Martin Thiel Yeah, many thanks, and good morning, everyone. Welcome to TIGE's H1 2025 call. Many thanks for dialing in. As always, I will start with a quick overview on page number four of the presentation, and after that, I will try to point out some main highlights on the following slide, and as always, afterwards, we have, of course, enough time for Q&A. So let's start with page number four and the highlights of the first half of 2025. FFO1 saw a quite decent development. It was up 4% year-on-year. And even quarter-on-quarter, we saw quite significant increase. So in the second quarter of 2025, FFO1 came up at 46.7 million after 44.9 million in the previous quarter. And as said, in a comparison year-on-year, there was an increase by 4%. Main driver of this positive development was the quite strong operational development. So also the EBITDR from the rental business was up even a little bit stronger at 5%, and we had quite strong rental growth again in Germany with 2.9%. And also in Poland, the rental growth was even higher than in the previous quarters, which ended up at 3.3%. So good FFO1 growth driven by an even little bit stronger growth from adjusted EBITDR. Looking at...