NewRiver REIT PLC (FRA:087)

Full Year 2025 Newriver Reit PLC Earnings Call Transcript

Jun 3, 2025 / 08:30 AM GMT

Release Date Price: €0.89 (-0.56%)

Transcript

Key Points

Positve

The acquisition of Capital Regional increased NewRiver REIT PLC (NRWRF)'s gross assets by 65% and delivered a 25% increase in underlying funds from operations in FY25.
The acquisition is expected to unlock material cost savings of 6.2 million pounds by the end of FY26.
NewRiver REIT PLC (NRWRF) reported a high tenant retention rate of 90% and occupancy rate of 96.1%, indicating strong operational performance.
The company achieved a 17.5% increase in long-term leasing rents compared to previous rents, demonstrating strong leasing performance.
NewRiver REIT PLC (NRWRF) has made significant progress towards its ESG objectives, achieving a 39% reduction in scope 1 and 2 emissions since FY20.

Negative

The net tangible asset (NTA) per share reduced by 9p during the first half of the year, partly due to the equity raise and transaction costs.
The loan-to-value (LTV) ratio increased to 42% post-acquisition, slightly above the company's guidance of less than 40%.
The acquisition of Capital Regional diluted the proportion of the best-performing retail parks in the portfolio.
Net finance costs have increased due to the retention of the Mal facility, which was the largest and lowest cost of the acquired facilities.
The company faces challenges in the retail sector, including increased costs for occupiers due to budget decisions and economic conditions.

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

NRRT.L - Newriver Reit PLC
Full Year 2025 Newriver Reit PLC Earnings Call
Jun 03, 2025 / 08:30AM GMT

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Presentation
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Unidentified_1 [1]
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Well, good morning everyone, and welcome to our full year results presentation. It's great to be here in person to share the highlights of what has been a busy and successful year for a new river.

It has been a transformer transformational period for New River, the highlight of which was the acquisition of Capital Regional, which completed on the 10th of December.

This acquisition increases our scale with gross assets up 65% and is highly earnings secretive, already delivering a 25% increase in our underlying funds from operations in FY25.

With further earnings growth to come through in FY26 and FY27.

The acquisition was paid for in New River shares and cash, involving a highly successful equity

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