Q2 2024 TAG Immobilien AG Earnings Call Transcript
Yeah, good morning, all, and many thanks for dialing in. This is Martin from TAG. Very happy to guide you through our half-year results. So we try to make it quite condensed and short so that we have enough time for Q&A afterwards. Let's start on page number four, which summarizes the highlights of the first-half in 2024. Looking at our results, FFO I came in at EUR88.1 million. That's nearly exactly the level that we had last year, despite the disposals we made in the German portfolio during the financial year 2023, which are now effective in full, and also to a certain part in the first-half of 2024.
Our contribution to this very stable letting result was an increased like-for-like rental growth in the Polish -- in the German portfolio of 2.7%, that compares to 2.3% in the previous year. So a clear stronger like-for-like rental growth so far this year. And also the vacancy rate developed very well. We stand now at 4.2% at the end of the first-half, and that compares to 4.7% one year ago.
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