Vonovia Se Ord (VNNVF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Vonovia SE Full Year Results 2025 Analyst and Investor Conference Call. I am Sandra, the course call operator. I would like to remind you that all participants have been listened 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 star and one on your telephone. For operator assistance, please press star and zero. The conference will not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Rene. Please go ahead. Thank you, Sandra, and welcome everybody to our call. The speakers today are Luka Mucic, our new CEO, and Filip Grose, our CFO. They will briefly present the highlights and the main messages for today before we open up for Q&A, where both will be very happy to take your questions. By way of a heads up, we will continue with our policy of two questions per analyst. With that, over to you, Luca. Thanks a lot, René, and hello and welcome, everybody. This is obviously my first earnings call as Vonovia's CEO, and hence I'm very pleased to connect with you today, not only regarding our full year numbers, but also on how we look at the development of our business in the near and medium-term future. If I may, I will get us started with a high level view of the key messages and then hand over to Philip for a short recap of 2025. Quick spoiler alert here, the results were very much in line with expectations, in some cases even slightly above. And this is actually one of my key initial observations. It's probably not really surprising, but seeing it from the inside, I'm thoroughly impressed with the remarkable robustness and upward trajectory of the operating business. and with the platform Vonovi...