Branicks Group AG (OTCPK:DDCCF)

Full Year 2024 Branicks Group AG Earnings Call Transcript

Mar 12, 2025 / 09:00AM GMT

Release Date Price: $2.4 (-4.00%)

Transcript

Key Points

Positve

Branicks Group AG (DDCCF) achieved major milestones in financial consolidation, including the full repayment of a EUR500 million bridge financing for the acquisition of VIB.
The company successfully sold 57 properties for a combined EUR702 million, reaching its disposal target of EUR650 million to EUR900 million.
Branicks Group AG's commercial portfolio continues to generate stable and predictable rents, with an increase in average rent from EUR8.92 to EUR10.20 per square meter.
The institutional business recorded a 2.3% like-for-like rental growth, with EUR8.8 billion assets under management.
The company reduced its financial liabilities by EUR667 million to EUR2.3 billion, demonstrating strong financial management.

Negative

The EPRA vacancy rate increased from 5% to over 7%, indicating challenges in the commercial portfolio.
Net rental income fell to EUR150.2 million, primarily due to property disposals.
Income from associated companies decreased to EUR5.9 million, and real estate management fees slightly decreased from EUR50.9 million to EUR48.2 million.
The company faces challenges in the office market, with sluggish letting performance and transaction difficulties.
Branicks Group AG's LTV remains high at 60%, with ambitions to reduce it to 50% by 2026, which may be challenging given current market conditions.

Operator

Good morning, ladies and gentlemen, and welcome to the Branicks Group AG Full year results call 2024. (Operator Instructions) Let me now turn the floor over to your host, Jasmin Dentz. Please go ahead.

Jasmin Dentz

Branicks Group AG - Investor Relations

Thank you, operator. I welcome everybody to our full year results presentation for 2024. This call will also be webcast live on branicksgroup.com and a replay of the call will be available on our website shortly after the end of the call. Our CEO and CFO, Sonja Warntges, will now give you an overview of our financials and our guidance. After the presentation, we will be happy to take your questions.

Please note that management comments during this call will include forward-looking statements which involve risks and uncertainty. For discussion of risk factors, I encourage you to review the Safe Harbor statement contained in today's presentation. As always, all documents relating our full year reporting have been made available on our website.

I now turn the call over to Sonja Warntges for her

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