Wereldhave Nv (WRDEF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning ladies and gentlemen and welcome to the Wereldhaven webcast for the first half 2026 results. I'm here today with our CFO Remco Langewouters and myself, I am Matthijs Storm, the CEO of Wereldhaven. I think most of you know me. We'll take you as usual through the slide deck of the first half results. If you have any questions you can already start typing them in the chat box at the bottom of your screen. Towards the end of the presentation we will deal with all the questions as usual and we will go into the details. So with that I'd like to start with the key messages of the first half results. First of all the valuations. Some of you might remember that in the second half of 2025 We had slightly negative revaluations of the portfolio and I think in particular the Dutch investment market if you talk about retail in our press release we also make reference to a pretty large recent transaction at in my view a pretty tight yield is improving significantly. That was one of the drivers why the revaluations in the first half of the year were positive but also driven by higher passing rents. And that you can see in the next bullet, like for like gross rental income increased by plus 4.3%. We'll get back to that in a second. I think as Wereldhaven, we regard ourselves as pretty defensive. We're well protected in the current macroeconomic environment against higher interest rates because we have pretty low committed capex. Remco will go into more detail later. But in addition to that, we completed the refinancings for the year. We'll give you more detail later. And last but not least, we have about two thirds exposure in our rent roll to the more resilient daily life or convenience retail, if you wish. Also with regards to our transformations, we achieved some majo...