Vgp N.V. (0HM0) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

And five on their telephone keypad. Now I will hand the conference over to the speakers. Please go ahead. Good morning everybody and welcome to the presentation or webcast of our performance in over the first half year. I'll start with an executive summary of what has happened. So the first quarter of year actually started very well. And the second quarter was a little bit subdued to this Operation Epic Fury, which everybody has been following with great interest. It seems now that dust is settling a little bit. The third quarter has been very well so far. And we have very nice prospects for the rest of the year, especially in newly signed lease agreements underway. We reported net profit before tax of $141000000.140.9 That's €120,000,000 net profit after tax earnings per share of €4.26 We also reported an EBITDA of $186,400,000 and you will be probably pleased to hear that $130,500,000 from that is recurring investment segment, so recurrent income. We had $128,200,000 of net rental and renewable income at share, which is a growth of 17.9% year on year on a proportional basis. And our at the June 30, our committed annualized rent income stood at nearly 500,000,000 at SEK $4.89 That has grown to $4.96 meanwhile. And it's 11% year on year growth and we will soon break the $05,000,000,000 barrier, which we've been always looking for. And I hope it will happen in September, or I'm sure it will happen in September. We have $60,000,000 of cash generative leases at the moment at share, which means handed over generating lease income already. We initiated 314,000 square meter of new developments and delivered 236,000 square meters in the first half, which are 86% led. We have our proportional LTV dropped from 50% at the year end to 49.3%. We have a consolidated gearing of 35...