TAG Immobilien AG (FRA:TEG)
€ 14.05 0.34 (2.48%) Market Cap: 2.48 Bil Enterprise Value: 5.53 Bil PE Ratio: 0 PB Ratio: 0.83 GF Score: 71/100
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Q1 2020 TAG Immobilien AG Earnings Call Transcript

May 14, 2020 / 09:00AM GMT
Release Date Price: €19.31 (-0.59%)
Operator

Good morning, ladies and gentlemen, and welcome to the TAG Immobilien AG Q1 Statement 2020. (Operator Instructions)

Let me now turn the floor over to your host. Mr. Martin Thiel.

Martin Thiel
TAG Immobilien AG - CFO & Member of Management Board

Yes. Many thanks, and good morning, everybody. This is Martin from TAG. Good to hear again. Very much welcome to our Q1 conference call.

And today, what are the topics we want to discuss with you. Of course, the Q1 results, but perhaps even more interesting in these days is the impact of the COVID-19 crisis on our business. And additionally, we want to report on the development of our business in Poland as well in the presentation that you hopefully have in front of you, which is also available on our website.

So let's start with Page #4. That's the highlight slide for the first quarter 2020. Looking at the operational performance, which refers totally to the German portfolio, the vacancy rate in the residential units is up by 30 basis points from 4.6% at the beginning of the year to 4.9

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