Half Year 2024 Nepi Rockcastle NV Earnings Call Transcript
Key Points
- NEPI Rockcastle NV (JSE:NRP) reported a 13.5% increase in Net Operating Income (NOI) and a 5.6% growth in distributable earnings per share for the first half of 2024.
- The company is expanding its portfolio with significant investments, including an EUR817 million pipeline for new developments, energy projects, and residential projects.
- NEPI Rockcastle NV (JSE:NRP) has a strong balance sheet with a low loan-to-value ratio of 32.2% and a net cost of debt at 2.6%, ensuring financial stability.
- The company is actively managing its portfolio, with 8% of its Gross Leasable Area (GLA) under construction and permitting, expected to be completed by 2026.
- NEPI Rockcastle NV (JSE:NRP) is investing in green energy projects, generating EUR4.1 million in revenue from photovoltaics and planning further investments to cover 100% of its energy consumption in Romania.
- The company faces geopolitical risks due to its operations in Central and Eastern Europe, particularly with the ongoing European crisis.
- Despite strong operational results, the footfall in shopping centers only increased by 1%, indicating potential challenges in attracting more visitors.
- The company is exposed to market risks, with potential fluctuations in property management fees and utility expenses.
- NEPI Rockcastle NV (JSE:NRP) has significant exposure to frontier markets like Bulgaria and Croatia, which could impact its inclusion in certain financial indexes.
- The company is planning substantial investments in new developments and acquisitions, which could strain its financial resources if not managed carefully.
Good day, ladies and gentlemen, and welcome to the NEPI Rockcastle interim results. (Operator Instructions) Please note that this call is being recorded. I would now like to turn the conference over to Rudiger Dany, CEO. Please go ahead.
Good morning, everybody, and welcome to the results presentation of NEPI Rockcastle for the first 6 months of this year. And let me maybe -- does it work, the technical? Could somebody connect this here? Sorry for the technical hiccup right at the beginning, this is what presenters love when it doesn't work.
Here we go. Let me start a little bit with the quote, success is not final, and I think we've all been witnessing this by the year of 2020 after an amazing year, 2019, when COVID hit us. And we went actually into two years of a bit of agony also with NEPI Rockcastle not being able to deliver actually the results we would have loved to deliver.
But let's say, this, failure was, as it says, not fatal. And already by the end of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
