Tag Immobilien Ag (TAGOF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.261 Ladies and gentlemen, welcome to the TAG publication of Annual Report 00:00:05.261 -- 00:00:10.490 2025 Conference Call. I am Valentina De Cono, Call Operator. 00:00:10.490 -- 00:00:13.997 I would like to remind you that all participants will be in listen-only mode and the 00:00:13.997 -- 00:00:16.417 conference is being recorded. 00:00:16.417 -- 00:00:19.602 The presentation will be followed by a Q&A session. 00:00:19.602 -- 00:00:24.751 You can register for questions at any time by pressing star and one on your telephone. 00:00:24.751 -- 00:00:28.417 For operator assistance, please press star and zero. 00:00:28.417 -- 00:00:32.524 The conference must not be recorded for publication or broadcast. 00:00:32.524 -- 00:00:37.693 At this time, it's my pleasure to hand over to Martin Thiel, CFO and co-CEO. 00:00:37.693 -- 00:00:40.074 Please go ahead. 00:00:40.244 -- 00:00:43.127 Yeah, many thanks and a warm welcome from our side. 00:00:43.127 -- 00:00:47.712 This is Martin. Many thanks for diving in into our conference call for the full year 00:00:47.712 -- 00:00:52.717 2025 results. I think today we can present a very 00:00:52.717 -- 00:00:58.223 decent set of results. Presumably you have already seen our press release announcing 00:00:58.223 -- 00:01:03.388 that we have exceeded all guidances that we just have basically raised back 00:01:03.388 -- 00:01:08.333 in November last year. So, therefore, we are quite happy to guide you a little bit more 00:01:08.333 -- 00:01:14.001 through the details. Let's start on page number three, the highlights and the slides. 00:01:14.001 -- 00:01:19.169 And perhaps we start with FFO1, our rental result, which came out at 181 00:01:19.169 -- 00:01:24.337 million euros. That's a 3% increase year on ye...