Globe Trade Centre SA (WAR:GTC)

Q1 2025 Globe Trade Centre SA Earnings Call Transcript

May 29, 2025 / 10:59 AM GMT

Release Date Price: zł4.06 (-2.40%)

Transcript

Key Points

Positve

Globe Trade Centre SA (FRA:G91) reported a 9% increase in combined revenues for the CE and German residential portfolio.
The company improved its occupancy rate by 2 percentage points in the first quarter.
Significant disposals added approximately €88 million to the company's cash position, demonstrating the high quality of its asset base.
The portfolio is well-diversified across sectors and geographies, with 51% in offices, 30% in retail, and 19% in residential properties.
The company has strong relationships with banks, which aids in refinancing efforts and managing upcoming maturities.

Negative

FFO1 declined to around €12 million due to increased interest costs from new funding.
The company faced increased finance costs due to additional senior facilities in Bulgaria and Germany.
There was a loss from the revaluation of assets due to capitalized expenditures on completed properties.
The weighted average interest rate increased to 3.63%, impacting financing costs.
Administrative expenses increased, partly due to the integration of the German portfolio and additional employees.

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

GTCP.WA - Globe Trade Centre SA
Q1 2025 Globe Trade Centre SA Earnings Call
May 29, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you very much for joining today's call related to Q1 2025 financial results of the GTC Group.

Today I can welcome you as a newly appointed President of the management board of the group. I'm, together with Balar Gustoni and Joeld Farkas, we will take you through the first quarter, solid first quarter results presentation.

We can, confirm that the portfolio is continuing to deliver and we see the momentum for the letting on in all sectors of our operations. Let me start the presentation, and we can take it from there.

So, in CE, we have continued improvement in the financial results. Our revenues, combined revenues for the CE and German residential portfolio improved by around 9%.

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