Tag Immobilien Ag (TAGOF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the TAG Immobilien Publication of Interim Report Q2-2026 Conference Call. I am Valentina, the Chorus Call Operator. I would like to remind you that all participants will be listen-only mode and the conference is being recorded. The presentation will be followed by Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star 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 and Co-CEO. Please go ahead. Good morning, everyone. This is Martin from TAG. Thank you for dialing in for our H1 2026 conference call. Let's start right away with the highlight slide, and I'm on page three of the presentation. I think it's fair to say that H1 2026 was a very strong half year with results strongly up. So in absolute terms FFO1 was 9% above the previous year level, came out at 100.2 million euros. Also our net income from sales in Poland was strongly up by 12% and FFO2 consisting of the FFO1 and the net income from sales in Poland saw quite strong growth at an 11% increase year-on-year. And perhaps you've already seen it in our press release, that led us to narrow the guidance for FFO1-2026 at the upper end of the guidance range, so therefore we expect FFO1 more to come up at the upper end of the previously announced range. Operations were well on track, and we saw increasing portfolio values with the half-year valuation, So like for sequential growth in Germany was quite strong at 3%, in Poland was 2.4%, excluding the newly acquired S4N portfolio, so just for the existing portfolio that we even owned before. Sales numbers were quite good in Poland. We sold 1,350 units in the first hal...