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: 0.86 GF Score: 71/100
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Q3 2023 TAG Immobilien AG Earnings Call Transcript

Nov 14, 2023 / 09:00AM GMT
Release Date Price: €12.19 (+5.18%)
Operator

Ladies and gentlemen, welcome, and thank you for joining the TAG Immobilien AG publication of the interim report Q3 2023. (Operator Instructions)

I would now like to turn the conference over to Martin Thiel, CFO. Please go ahead.

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

Many thanks, and good morning all. This is Martin from TAG. Many thanks for joining the call. And as always, I try to make the presentation rather comprehensive so that we have, afterwards, enough time for Q&A.

So let's start right away with the presentation on Page 4, where we show some highlights for the first 9 months of 2023. Let's go through it point by point. Firstly, we want to point out quite successful further asset disposals that we have done in Germany. So in the third quarter of 2023, we sold further 262 units. That leads us to a total disposal volume of more than 1,300 units in the 9-month period ending 30 September 2023, and we achieved net cash proceeds of EUR 181.5 million.

We sold at an average gross yield of

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