Q1 2025 Deutsche Konsum REIT-AG Earnings Call Transcript
Key Points
- Deutsche Konsum REIT-AG (XTER:DKG) successfully reduced its debt by approximately EUR57 million, primarily through asset sales.
- The company reported a slight increase in net rental income due to lower property costs.
- FFO (Funds from Operations) increased slightly to EUR0.13 per share, up from EUR0.11 in the previous quarter.
- The loan-to-value ratio decreased to 54.7%, aided by the conversion of a convertible bond.
- The company is actively working on refinancing and property sales, with plans to further reduce liabilities.
- Rental income decreased slightly from EUR18.2 million to EUR17.7 million compared to the previous quarter.
- The company faces challenges with refinancing costs, with expected interest rates around 4% to 5%, higher than previous rates.
- There is uncertainty regarding the outstanding EUR60 million loan to Obotritia, deferred until December 2025.
- The vacancy rate remains a concern, with some properties having high vacancy rates since acquisition.
- The company is not providing a forecast for FFO results due to ongoing refinancing and property sales plans.
Ladies and gentlemen, welcome to the Q1 2024-2025 Financial Results Conference Call of Deutsche Konsum REIT-AG. I am Hillary, the Chorus Call operator. (Operator Instructions) And the conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Kyrill Turchaninov, CFO. Please go ahead.
Hello, everybody. My name is Kyrill Turchaninov, and I'm the CFO of Deutsche Konsum REIT. Before we start to look at the pages and then go to question and answers, I would like to introduce my colleague, Mr. Lars Wittan, who joined the company as the second member -- another member of the Management Board in February, and he will say a few words about himself. Lars?
Yes. Thanks, Kyrill. Hello, everyone. My name is Lars Wittan, born in 1977. Before I started here
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