Vonovia Se Ord (VNNVF) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.295 Ladies and gentlemen, welcome to the Vonovia Se H1 2026 00:00:05.295 -- 00:00:11.660 results analyst and investor call. I am Matilde, the course call operator. 00:00:11.660 -- 00:00:15.904 I would like to remind you that all participants will be in listen-only mode and the 00:00:15.904 -- 00:00:18.826 conference is being recorded. 00:00:18.826 -- 00:00:22.749 The presentation will be followed by Q&A session. 00:00:22.749 -- 00:00:28.455 You can register for questions at any time by pressing star and one on your telephone. 00:00:28.455 -- 00:00:32.616 For operator assistance, please press star and zero. 00:00:32.616 -- 00:00:37.278 The conference must not be recorded for publication or broadcast. 00:00:37.278 -- 00:00:41.619 At this time, it's my pleasure to hand over to Rene. 00:00:42.440 -- 00:00:46.881 Thank you, Matilda, and welcome everybody to our H1 2026 earnings call. 00:00:46.881 -- 00:00:52.259 The speakers today are once again Luka, our CEO, and Philip, our CFO. 00:00:52.259 -- 00:00:56.882 They will briefly present the H1 highlights and main messages for today before we open 00:00:56.882 -- 00:01:00.784 up for Q&A, where both will be happy to take your questions. 00:01:00.784 -- 00:01:05.247 By way of a heads up, we will continue with our policy of two questions per analyst to 00:01:05.247 -- 00:01:08.609 keep things crisp. With that, over to you, Luka. 00:01:08.609 -- 00:01:11.870 Thank you, Rene, and hello and welcome, everybody. 00:01:11.870 -- 00:01:15.032 So let me start with the key messages for the first half of 2026. 00:01:15.032 -- 00:01:17.032 Overall, 00:01:17.794 -- 00:01:23.719 H1 was a period of strong operational performance in our core business, Progress on Disposals 00:01:23.719 -- 00:01:26.560 and Proac...