Full Year 2025 UBM Development AG Earnings Call Transcript
Key Points
- UBM Development AG (WBO:UBS) returned to profitability in 2025 after two loss-making years, with a full-year profit exceeding expectations.
- The company successfully sold 452 apartments, surpassing their target of 450, with strong sales in Vienna and Prague.
- UBM Development AG maintained a strong cash position, ending the year with EUR118 million, above their guidance of EUR100 million.
- The company executed significant deleveraging measures, repaying EUR89 million in bonds and promissory notes within a quarter.
- UBM Development AG is strategically shifting towards affordable housing, aiming to capitalize on high demand and a clear business case.
- The German market was somewhat disappointing in terms of apartment sales, presenting a challenge for future growth.
- The company faces macroeconomic uncertainties, including rising interest rates and geopolitical tensions, which could impact future sales and financing conditions.
- UBM Development AG's office space rental and sales have proven more difficult than anticipated, requiring strategic adjustments.
- The transaction market remains unreliable, posing challenges for the planned sale of non-strategic assets to fund affordable housing projects.
- The company needs to navigate complex regulatory environments and secure public cooperation to achieve faster building permissions for affordable housing projects.
Good day, ladies and gentlemen, and a warm welcome to today's earnings call of the UBM Development AG following the publication of the full-year figures of 2025. We are delighted to welcome the CEO, Thomas Winkler; and the CFO Patrick Thate, who will speak in a moment and guide us through the presentation and the results.
After the presentation, we will move on to an analysts Q&A session. As an institutional investor, we would like to invite you to contact UBM Development AG directly after the earnings call to clarify any questions you may have. We are looking forward to the results.
And having said this, Mr. Winkler, please, the stage is yours.
Thank you, Ingmar, and good morning, everybody. Thank you for joining today's full-year conference call just before the start of the Settimana Santa, the Holy Week and Easter. We have a couple of good news and a promising shift in our strategy to present.
Looking at the highlights of slide 1, we
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