LEG Immobilien SE (CHIX:LEGd)
€ 73.55 +2.45 (+3.45%) Market Cap: 5.46 Bil Enterprise Value: 15.00 Bil PE Ratio: 35.79 PB Ratio: 0.81 GF Score: 68/100
Back to the Transcripts List

Full Year 2024 LEG Immobilien SE Earnings Call Transcript

Mar 10, 2025 / 10:59 AM GMT
Release Date Price: €67.66

Key Points

Positve
  • LEG Immobilien SE (LEGIF) achieved an 11% growth in AFFO, reaching €200.4 million, demonstrating strong financial performance.
  • The company successfully transferred 2,500 non-core units in 2024 and signed another 1,800 units for 2025, with total proceeds of €400 million.
  • Net rent increased by 3.0% to €859.4 million, with a recurring net operating income rise of 5.1%, indicating robust operational performance.
  • The company maintained a low cash financing cost of 1.49% by issuing low coupon bonds and repaying higher-cost debt.
  • LEG Immobilien SE (LEGIF) has a strong cash position of over €900 million, covering all 2025 maturities and planned refinancing needs.
Negative
  • The company's LTV remains above the midterm target of 45%, currently at 47.9%, indicating a need for further deleveraging.
  • New tenant protection regulations in North Australia affect 23% of the portfolio, potentially limiting rent growth.
  • The market recovery in Germany is still below the long-term average, which could impact future disposal programs.
  • The AFFO contribution from green ventures is expected to be minimal in 2025, with a single-digit million euro impact.
  • The company faces challenges in refinancing upcoming maturities in a higher interest rate environment, despite a low starting base.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LEGn.DE - LEG Immobilien SE
Full Year 2024 LEG Immobilien SE Earnings Call
Mar 10, 2025 / NTS GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning everyone from Dusseldorf. Welcome to our call for our full year results 2024, and thank you for your participation. We have in the call our entire management team with our CEO Lars von Lacom, our CFO Catherine Kulling, as well as our COO Volvi.

You find the presentation document as well as the annual report and documents within the IR section of our homepage.

Please note that there is also a disclaimer which you'll find on page 3 of our presentation.

And without further ado, I hand it over to you.

--------------------------------------------------------------------------------
Unidentified_2 [2]
--------------------------------------------------------------------------------
Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2025 GuruFocus.com, LLC. All Rights Reserved.