Half Year 2023 CA Immobilien Anlagen AG Earnings Call Transcript
Hello, ladies and gentlemen, and welcome to today's analyst and investor update of CA Immo. (Operator Instructions) Let me now turn the floor over to the company. Please go ahead.
So thank you for joining. This is Keegan Viscius. Today, I'm joined by my colleague and CFO, Andreas Schillhofer. We continue to operate in a challenging market environment, characterized by lower occupational demand, illiquid transaction markets, longer decision-making lead times, shifting preference across occupiers, investors and lenders.
On top, we face macro headwinds from slower growth expectations, sticky inflation, fall in confidence, lower hiring expectations and tighter monetary policy. Against this difficult backdrop and the negative valuation result, we're pleased to deliver stable operational performance and a positive net result. Operationally, across the portfolio, we've achieved higher GRI, 12% increase year-on-year with annualized in-place GRI up 6% year-to-date. We've had a
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