May 02, 2023 / 12:00PM GMT
Olivier Elamine - alstria office REIT-AG - Chairman of the Management Board & CEO
So welcome to the Q1 result from alstria. I apologize for the technical mess that we're having right now. And let me go through the presentation without waiting.
First, a few moments on the disclaimer and the cautionary notes on forward-looking statements and duty to update.
And without any delay, let's move into the highlights of the quarter. The operating business has developed pretty much in line with what we're expecting with revenue at around EUR 45.5 million and FFO down 7% year-on-year at EUR 25.4 million. I will comment a bit more on that, but this is basically linked to the increase in leverage that we have been implementing last year, which has built the increase [year-over-year] for the company and had an impact on the FFO, which was (technical difficulty). We did have a busy quarter on the leasing side and I think on the leasing front, it's something which is still very positive in the overall German market with overall activity of around 34,000, 35,000 square meters of leases. A bit
Q1 2023 alstria office REIT AG Earnings Call Transcript
Feb 12, 2024
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