DEMIRE Deutsche Mittelstand Real Estate AG (MREOF) Q4 2025 Earnings Call Transcript

SA Transcripts159.1K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call DEMIRE Deutsche Mittelstand Real Estate AG (MREOF) Q4 2025 Earnings Call March 19, 2026 6:00 AM EDT Company Participants Dirk Ruffel - CEO & Member of Management BoardRalf Bongers - Chief Investment Officer & Member of Management BoardTim Brückner - CFO & Member of Executive Board Conference Call Participants Philipp Sennewald - NuWays AG, Research Division Presentation Operator Good morning, everyone, and welcome to the FY 2025 Earnings Call of DEMIRE Deutsche Mittelstand Real Estate AG. I'm Maxi Gutmann from NuWays, and I'll be moderating today's call. We will begin with the management presentation followed by a Q&A session. I will provide instructions for the Q&A once the presentation has concluded. And with that, let's get started. Dirk Ruffel, the floor is yours. Dirk RuffelCEO & Member of Management Board Thank you. So ladies and gentlemen, good morning, everybody. Welcome to the results presentation. On DEMIRE side in the conference room here in London, you have myself, Dirk Ruffel, obviously, who's talking; Tim Bruckner, CFO; Ralf Bongers, CIO; Julius Stinauer, Investor Relations; and I think 5 people of our team being present as well. In terms of structure of the call, I will provide a quick executive summary before handing over to Tim and Ralf to provide more details for '25. And at the end, I will give also a quick outlook on what we are going to expect for '26. So I think first main message is that both our rental income and FFO for '25 are in line with expectations and the provided guidance. Company continued to optimize financial profile through active management of the debt, in particular, we refied or newly raised roughly EUR 77 million in mortgage loans over the year '25. In terms of sales, we sold rough -- we sold about -- I think it was 11 assets with a