LEG Immobilien SE (OTCPK:LEGIF) Q1 2025 Earnings Conference Call May 13, 2025 4:00 AM ET
Company Participants
Frank Kopfinger – Head, IR
Lars von Lackum – CEO
Volker Wiegel – COO
Kathrin Kohling – CFO
Conference Call Participants
Marios Pastou – Bernstein
Thomas Neuhold – Kepler Cheuvreux
Jonathan Kownator – Goldman Sachs
Manuel Martin – Oddo BHF
Paul May – Barclays
Marc Mozzi – Bank of America
Frank Kopfinger
Hi, good morning everyone from Düsseldorf. Welcome to our call for our Q1 2025 Results and thank you for your participation. We have in the call as always our entire management team with our CEO Lars von Lackum; our CFO Kathrin Kohling; as well as our COO Volker Wiegel.
You will find the presentation document as well as the quarterly report and documents within the IR section of our homepage. Please note that there is also a disclaimer which you find on page 3 of our presentation. And without further ado I hand it over to you Lars.
Lars von Lackum
Thank you Frank. A very good morning to all of you. We are well on track for our guidance which offers a 7% bottom line growth. Cash generation from our core business continues to rise. We grow in our core product. The integration of BCP is well on track.
This portfolio and the organic growth supported our strong net cold rent increase of more than 7% enabled us to further improve margins and boosted AFFO by 28%. The strong AFFO level is partly affected by a sluggish investment level compared to Q1 2024. Therefore after the integration of BCP we will increase investments for this portfolio in the year.
We reiterate our investment guidance for the full year of at least EUR 35 per square meter. We reaffirm our guidance of
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