Investis Holding (IREN) H1 2025 Earnings Call August 27, 2025 03:00 AM ET Company ParticipantsStéphane Bonvin - CEO, Chairman & DirectorRené Häsler - CFO & Member of Executive BoardLaurence Bienz - Head Investor & Media RelationsOperatorLadies and gentlemen, welcome to Investis h one two twenty five results webcast. All participants of the webcast are in listen only mode, and the webcast will be recorded. Please note that the recording by participants for publication or broadcast is not allowed. After the p ...

Financial Performance - Investment portfolio Funds From Operations (FFO) increased by 3.7% to $150.3 million[9, 49] - Operating Profit before indirect expenses and income tax increased by 1.2% to $152.3 million[9, 48, 49] - Adjusted Funds From Operations (AFFO) was 6.54 cents per security (cps)[9] - Net tangible assets (NTA) per security decreased by $0.04 to $1.21[48] Portfolio & Occupancy - Portfolio occupancy was 97%[7, 39, 123] - Weighted Average Lease Term (WALT) was 6.0 years[9, 39, 123] - Commercial Bay retail FFO increased by 8.3%[9, 49] and MAT increased by 3.7%[9, 123] Capital Management & Investment - Strategic exit of the InterContinental Auckland hotel for $180 million[9] - Repaid $165 million of maturing retail bonds and USPP notes[9] - New $75 million five-year wholesale bond issued[9] - Capital partnerships totalling $1.6 billion on completion value[86]

Core Insights - Urbanfund Corp. has filed its financial statements for the three and six months ended June 30, 2025, along with the corresponding Management's Discussion and Analysis [1] - The company focuses on investing in Canadian real estate, including both residential and commercial properties, with assets located in various cities across Ontario and Quebec [2] Business Overview and Strategy - Urbanfund is listed on the TSX Venture Exchange under the symbol UFC and operates as a reporting issuer in Alberta, British Columbia, and Ontario [2] - The company's investment strategy emphasizes a mix of residential and commercial properties [2] Operational Highlights - Urbanfund's strength lies in its ability to attract partners with proven expertise in residential and commercial development [3] - The company continues to build strategic alliances to enhance its operational capabilities [3] Results from Operations - For the three months ended June 30, 2025, rental revenue was CAD 2,220,795, a decrease from CAD 2,274,375 in the same period of 2024 [5] - Income before taxes for the same period was CAD 1,443,047, down from CAD 2,036,581 in 2024 [5] - Net income and comprehensive income for the three months ended June 30, 2025, was CAD 1,067,047, compared to CAD 1,272,581 in 2024 [5] Selected Quarterly Information - For the six months ended June 30, 2025, rental revenue totaled CAD 4,315,716, down from CAD 4,450,274 in 2024 [5] - The net income for the six months ended June 30, 2025, was CAD 2,347,821, compared to CAD 3,145,223 in 2024 [5] Financial Position - As of June 30, 2025, total assets were CAD 154,923,194, slightly down from CAD 155,604,351 in 2024 [7] - Total investment properties increased to CAD 109,071,000 from CAD 108,843,000 in 2024 [7] - Total mortgages payable decreased to CAD 54,724,369 from CAD 55,506,091 in 2024 [7] Non-IFRS Measures - Funds from Operations (FFO) for the three months ended June 30, 2025, was CAD 1,566,779, down from CAD 3,247,993 in 2024 [9] - Adjusted Cash Flows from Operations (ACFO) for the same period was CAD 899,676, compared to CAD 5,404,752 in 2024 [11] Liquidity and Capital Resources - Urbanfund reported cash of CAD 8,818,331 and accounts receivable of CAD 249,557 as of June 30, 2025 [14] - The company expects to meet all obligations, including dividends to shareholders and property maintenance [13] Dividend Reinvestment Plan - Urbanfund has a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends to acquire additional shares at a discount [16] - The annual dividend rate was increased to CAD 0.05 per common share, representing a 67% increase from the previous year [17] Summary of Quarterly Distributions - The company issued 103,406 common shares valued at CAD 78,940 to DRIP participants for the six months ended June 30, 2025 [18]

Core Insights - Primior Holdings Inc. reported significant financial growth in Q2 2025, with total income more than doubling year over year and gross margin reaching 88 percent [2][7] - The company is advancing its real estate development projects and making progress on its tokenization platform, Gaia, which is expected to begin internal testing by the end of September 2025 [3][4] Financial Performance - Total income from the real estate development business was $1,483,454, reflecting a 134% increase year over year [7] - Gross margin was reported at $1,307,170, which is 88.1% of total income [7] - Operating income stood at $726,713, with an operating margin of approximately 49% [7] - Net income for the quarter was $694,865, with earnings per share (basic and diluted) at $0.0001803 [7] Business Updates - In the real estate development segment, construction activities are progressing, with grading completed for a 7-unit development in Glendale, California, and the team mobilizing for the next phase [2] - The company is diversifying into trending markets, including AI, and has established brokerage accounts with Wells Fargo and Interactive Brokers to support this strategy [4] Corporate Actions - Primior Holdings has submitted requests for corporate actions, including a reverse split, name change, and ticker change, and is awaiting regulatory responses [8] - The company plans to convert a related party note of $27,000,000 into common equity, targeting completion before the end of September 2025, subject to approvals [8]

Financial Performance - Halmont Properties Corporation reported a net income to shareholders of $9.2 million for the six months ended June 30, 2025, an increase from $7.8 million for the same period in 2024 [1] - Revenue for the six months ended June 30, 2025, was $16.74 million, compared to $15.63 million for the same period in 2024, reflecting a growth of approximately 7.1% [2] - Comprehensive income for common shareholders was $9.40 million for the six months ended June 30, 2025, up from $8.97 million in 2024 [2] Shareholder Metrics - The diluted net income per common share decreased to 3.66 cents in 2025 from 3.85 cents in 2024 [2] - The fully diluted book value of Halmont's common shares increased to 95 cents per share as of June 2025, compared to 84 cents in June 2024 [3] Investments and Operations - The financial results reflect contributions from investments made in 2024, including the repositioning of commercial property and forest portfolios [2] - Notable acquisitions included interests in 25 Dockside Drive and 2 Queen East, along with a $1.0 million investment in Haliburton Forest, raising effective ownership to 59% [2]

Core Insights - Park Street A/S reported an EBVAT of DKK 13.7 million for the first half of 2025, more than double the DKK 6.5 million from the same period in 2024, despite a decrease in net sales from DKK 82.3 million to DKK 73.7 million due to property reductions [1][4][6] - The company revised its EBVAT expectations for 2025 to a range of DKK 20 million to DKK 25 million, down from the previous guidance of DKK 30 million to DKK 40 million, primarily due to refinancing impacts and timing of asset disposals [3][9] Financial Performance - Group's equity as of June 30, 2025, was DKK 980 million, indicating a positive financial position [2] - Cash flows from operating activities decreased to DKK 2.7 million in H1 2025 from DKK 20.3 million in H1 2024, attributed to changes in operating capital [6] - Cash flows from investing activities fell to DKK 22.1 million in H1 2025 from DKK 74.3 million in H1 2024, largely due to a significant reduction in investment property sales [6] - Cash flows from financing activities improved to DKK 30.1 million in H1 2025 from -DKK 101.5 million in H1 2024, driven by repayment of liabilities [6] Strategic Initiatives - The company continued its strategic transition by selling non-core assets, such as Stagehøjvej 22 in Silkeborg, and simplifying its capital structure by canceling 13.8 million treasury shares [5] - Park Street's Pulse strategy remains central to its future, focusing on technology-driven property management and enhancing tenant experience [8] Future Outlook - The company expects a one-time, non-cash capitalized borrowing cost of approximately DKK 22 million due to refinancing, which will impact reported EBVAT for the year [3][7] - Park Street aims to consolidate around core assets, particularly the Pulse platform, while reducing exposure to retail and regional assets [9]

Group 1 - Capital investment from the technology sector has reached its highest level since 2000 [1] - The spending within the tech space has been characterized by a circular flow, indicating a symbiotic relationship between hardware and software [1]

Core Points - The net asset value of INVL Baltic Real Estate as of June 30, 2025, is EUR 27,494,280, translating to EUR 3.4567 per share [1] Company Information - The valuation of assets and calculation of net asset value is outlined in the Articles of Association, specifically in section XI [1] - Vytautas Bakšinskas is the authorized person for providing additional information regarding the company [1]

Core Insights - INVL Baltic Real Estate reported a consolidated net profit of EUR 2.96 million for the first half of 2025, a significant increase from EUR 0.82 million in the same period of 2024, representing a growth of 3.6 times [1][2] - The company's consolidated revenue for January to June 2025 was EUR 1.94 million, which is a decrease of 5.6% compared to EUR 2.05 million in the first half of 2024 [1][4] - As of June 2025, the company's consolidated equity was EUR 27.5 million, with equity per share increasing by 21.1% year-on-year [3] Financial Performance - The consolidated net operating income from owned properties decreased by 19.7% year-on-year to EUR 1.2 million [4] - The rental income from the largest property, located at Palangos St. 4 / Vilniaus St. 33, was EUR 0.7 million, down 12.4% from the previous year [7] - The occupancy rate of the properties managed by the company ranged from 82% to 98% at the end of June 2025 [9] Property Management - The value of the real estate managed by INVL Baltic Real Estate was EUR 47.2 million at the end of June 2025, an increase of 11% from the end of the previous year [8][10] - The company has been involved in significant renovation projects, particularly at Palangos St. 4 / Vilniaus St. 33, which is expected to enhance future financial results [5] - The occupancy rate of the property housing the Saint-Malo restaurant and other tenants was 91% at the end of June 2025 [6]

Core Viewpoint - Plymouth Industrial REIT, Inc. has received an unsolicited proposal from Sixth Street Partners to acquire all outstanding shares for $24.10 per share, with Sixth Street owning approximately 9.99% of the company's stock [1][2]. Group 1: Proposal Details - The proposal from Sixth Street Partners is non-binding and offers cash consideration of $24.10 per share [1]. - Sixth Street beneficially owns about 9.99% of Plymouth's outstanding common stock [1]. Group 2: Company Response - The Board of Directors will evaluate the proposal in consultation with financial and legal advisors to determine the best course of action for shareholders [2]. - Shareholders are not required to take any action at this time regarding the proposal [2]. Group 3: Advisory Support - KeyBanc Capital Markets Inc. is serving as the financial advisor to Plymouth [3]. - Morrison & Foerster LLP is providing legal counsel to the company [3]. Group 4: Company Overview - Plymouth Industrial REIT, Inc. is focused on the acquisition, ownership, and management of single and multi-tenant industrial properties [4]. - The company's mission is to provide tenants with cost-effective, functional, flexible, and safe space [4].