Nexus Industrial REIT (FRA:J6D)

Q1 2025 Nexus Industrial REIT Earnings Call Transcript

May 15, 2025 / 02:00 PM GMT

Release Date Price: €4.57 (+1.82%)

Transcript

Key Points

Positve

Nexus Industrial REIT (EFRTF) completed the sale of 15 out of 16 retail properties, marking a strategic repositioning to focus solely on industrial real estate.
The company's industrial occupancy increased to 97% in the first quarter, demonstrating strong operational performance.
Net operating income (NOI) for the industrial portfolio improved by 3.4% compared to the previous quarter, driven by acquisitions, organic growth, and development.
Nexus Industrial REIT (EFRTF) has successfully renewed over 80% of the gross leasable area set to expire in 2025, with a 30% growth on expiring rents.
The company is well-positioned to weather economic challenges, with only 6% of NOI related to the auto manufacturing supply chain and 85% derived from Canadian distribution and third-party logistics tenants.

Negative

Net income decreased by $10.5 million compared to the previous year, primarily due to a higher loss on the fair value adjustment of derivative financial instruments.
The company faces challenges in leasing a 115,000 square foot project in Hamilton, which has been difficult due to market conditions.
Two tenants have entered creditor protection, potentially impacting 2025 results, although they have continued to pay rent through April.
Interest expense increased by $200,000 compared to the same period last year, partly due to lower capitalization of interest expense on development properties.
The company still holds 50% ownership in two office properties, which are expected to be a longer-term project to sell due to their low value and partnership agreements.

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

NXR_u.TO - Nexus Industrial REIT
Q1 2025 Nexus Industrial REIT Earnings Call
May 15, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. This is the conference operator. Welcome to the Nexus IndustrialET first quarter 2025 results conference call. As a reminder, all participants are in a listen-only mode and the conference is being recorded.

After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star, then one on a telephone keypad. Should you need assistance during the conference call, you may press, you may signal an operator by pressing star and then 0.

I would now like to turn the conference over to Kelly Hanzick, Chief Executive Officer. Please go ahead.

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