Half Year 2025 Hamborner REIT AG Earnings Call Transcript
Key Points
- Operational performance remained resilient with a low vacancy rate of 3.5% and a stable WALT of 5.7 years.
- Like-for-like annualized rental income rose by 1.4%, reflecting positive indexation adjustments.
- Successful leasing activities with contracts signed for over 12,000 square meters, maintaining a high retention rate of 95%.
- Financial liabilities declined substantially due to repayment of bonded loans and loan repayments from property disposals.
- The company expects slightly higher rental income for the full year 2025, between EUR89.5 million and EUR90.5 million.
- Income from rents and leases decreased by 2.1% due to recent property disposals.
- FFO declined by around 12%, influenced by property sales and increased operational costs.
- The REIT equity ratio declined to 55% with an LTV increase to 44.3%.
- Maintenance costs increased by approximately 27% compared to the previous year.
- The fair value of the total portfolio decreased by EUR34.7 million in the first half of the year.
Welcome to the conference call. (Operator Instructions) Now I will hand the conference over to the speakers. Please go ahead.
Good morning, ladies and gentlemen. This is Niclas Karoff for Hamborner REIT. Thank you for joining our half-year results conference call. I'm pleased to be here today with members of our team including my colleagues, Sarah and Christoph.
As usual, I will start with a short presentation, followed by a Q&A session. While in the past, participation in the Q&A was only possible by telephone, you now also have the opportunity to ask questions via the webcast directly in your web browser. We hope that everything will run smoothly from a technical perspective and look forward to interacting with you.
So let's start on the slide with a look at the key figures of June 30, 2025. The real estate sector continued to face headwinds during the first half of 2025, at least of all, with a challenging, financing and interest rate
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