Full Year 2022 TAG Immobilien AG Earnings Call Transcript
Ladies and gentlemen, thank you for standing by. Welcome, and thank you for joining the TAG Immobilien AG publication of the Annual Report 2022. (Operator Instructions)
I would now like to turn the conference over to Martin Thiel, CFO. Please go ahead, sir.
Good morning, and many thanks all for joining our conference call for the full year 2022 financial results. Yes, let's start with the presentation, which we have published on our website this morning. And I would like to draw your attention firstly to Page #4, where we show some operational highlights.
Firstly, in 2022, we have achieved our FFO I and FFO II guidance. FFO I guidance purely refers at the moment to the German residential or rental business. Here, we really achieved a good result in our operational performance, like-for-like rental growth including vacancy reduction stood at 2.7%. Vacancy was reduced by 110 basis points to 4.4%. Both KPIs are above our targets, so we're very pleased how the operational
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