Q2 2025 Citycon Oyj Earnings Call Transcript
Key Points
- Citycon Oyj (FRA:TY2B) achieved a 5.2% growth in net rental income (NRI) for the first half of 2025.
- Retail occupancy remained high at 95%, indicating strong demand for their retail spaces.
- The company reported a net fair value gain of 34.3 million, driven by improved cash flow in key assets.
- Citycon Oyj successfully issued a new green bond in April 2025, which was six times oversubscribed, demonstrating strong investor confidence.
- Proactive debt management led to the repayment of over 750 million in debt, strengthening the balance sheet.
- Net rental income for the quarter was 1.4 million below the previous year's second quarter.
- Earnings per share for the first half were below the lower end of the company's guidance range.
- Financial costs increased due to the issuance of new bonds, impacting overall profitability.
- The company faced challenges in asset sales, with a potential buyer walking away from a deal at the last moment.
- Citycon Oyj's main shareholder has pledged a significant portion of shares as collateral, raising concerns about potential forced sales.
Good morning, everyone and welcome to Citycon Oyj half yearly 2025 Earnings results audio cast. My name is Anni Torkko and I work as the Investor Relations Manager here at Citycon.
Last night we published our half yearly report and in this audio cast, our CEO Oleg Zaslavsky and CFO Eero Sihvonen will present the results.
We will start by Oleg going through our business and operational highlights. After that, Eero will go through our financial results. After the presentations, we will be opening the line for questions from the audience.
Please, Oleg.
Thank you, Anni. Good morning and thank you all for joining today's call.
We just closed the first half of 2025 with solid momentum and continue to deliver stable operational results.
In the period we achieved 5.2% of NRI growth.
Like for like growth while maintaining high retail occupancy at the level of 95%, we also saw modest improvement but stable improvement in like for
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