Half Year 2023 Patrizia SE Pre-Recorded CFO Earnings Presentation Transcript

Aug 10, 2023 / NTS GMT

Transcript

Christoph Glaser

PATRIZIA SE - CFO, Executive Director & Member of Management Board

Good morning, and welcome to PATRIZIA. We published our financial results for the first 6 months of 2023 today, and I would like to share with you some of my personal takeaways. Probably not a surprise for you. In the second quarter of the year, the market environment for investing in real estate and infrastructure remained challenging for both our clients and for us, general market uncertainty, high inflation and rising financing costs were still an issue when deploying capital into real assets. This led to record low market activity in the second quarter of the year.

Looking at our financial results, this had an impact on 2 of 3 revenue streams: transaction fees and performance fees, both showed year-over-year declines. There's a substantial

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