Core Insights - Nextensa has initiated 2025 with significant momentum, completing three strategic transactions that align with its sustainable investment strategy and position the company for growth and enhanced market presence [1] Strategic Transactions - The sale of the Knauf Shopping Centers on February 13, 2025, for € 165.75 million marks a pivotal shift in the portfolio towards assets with higher growth potential, reinforcing financial strength and enabling targeted investments [2] - The acquisition of Proximus Towers in Brussels for € 62.5 million enhances Nextensa's portfolio of high-quality office buildings, aligning with its long-term vision of investing in premium locations [4] - Proximus' decision to establish its headquarters at Tour & Taxis confirms the site's strategic importance, ensuring long-term rental income with full pre-letting of the office section [3] Financial Performance - Like-for-like rental income increased by 9% in Q1 2025, driven by strong performance at the Tour & Taxis site and contributions from major renovations, although nominal rental income decreased by 10.2% compared to Q1 2024 due to asset disposals [5] - The net result for the group share reached € 7.8 million, or € 0.77 per share, an increase from € 7.0 million or € 0.70 per share in Q1 2024 [8] Development Projects - The foundation stone for the office building "The Stairs" at Cloche d'Or was laid on March 18, with completion expected by the end of Q1 2026, while only 17 apartments remain unsold at the site despite a slowdown in residential sales [6] - At Tour & Taxis, 322 out of 346 apartments in Park Lane Phase II were sold by the end of Q1 2025, averaging 2 apartments sold per week [7] Financial Management - The average cost of financing decreased from 2.86% to 2.79%, aided by an interest rate hedging strategy and reduced financial debt [9] - The sale of the Knauf shopping centers lowered the net loan-to-value (LTV) ratio below 40%, strengthening the balance sheet for future development projects [9] Company Overview - Nextensa operates as a mixed-use real estate investor and developer, with a portfolio valued at approximately € 1.1 billion as of March 31, 2025, distributed across Luxembourg (43%), Belgium (42%), and Austria (15%) [10][11]

Financial Performance - Hysan's overall revenue decreased by 7% year-over-year, from HK$3460 million in 2022 to HK$3210 million in 2023[15] - Retail revenue decreased by 6%, from HK$1643 million in 2022 to HK$1533 million in 2023[9, 15] - Office revenue decreased by 46%, from HK$1578 million in 2022 to HK$1472 million in 2023[15] - Residential revenue decreased by 47%, from HK$239 million in 2022 to HK$205 million in 2023[15] - The company's net gearing ratio is 272%[59] Portfolio Occupancy - Retail occupancy was 97% in 2023, compared to 99% in 2022[16] - Office occupancy was 89% in 2023, compared to 90% in 2022[12, 16] - Residential occupancy was 60% in 2023, compared to 61% in 2022[16] Strategic Initiatives - The enhancement work of the office tower in Lee Gardens Shanghai was completed in 2023, with 30% occupancy[41] - Approximately 10% of the retail area was closed for Lee Gardens rejuvenation in 2023 on average[10, 16] - Over 27 million square feet by GFA is green building certified[49]

Core Insights - Icade has successfully acquired the first 9 sites from Casino Group for a total of €32 million as part of a larger agreement to acquire 11 sites [1] - The acquired sites are located in various cities across France and have significant potential for redevelopment into mixed-use neighborhoods [1][2] - This acquisition aligns with Icade's strategic plan, ReShapE, aimed at building sustainable urban environments for the future [4] Group 1: Acquisition Details - The 9 acquired sites include car parks, undeveloped land, and business premises located in cities such as Marseille, Montpellier, and Angers [1] - The potential redevelopment could accommodate approximately 3,050 new housing units and 29,000 square meters of renovated retail space [2] - The remaining sites from the agreement are expected to be acquired in the second quarter of 2025 [7] Group 2: Strategic Implications - Icade's Ville en Vue solution will facilitate the transformation of these sites, emphasizing collaboration among stakeholders and expertise in spatial planning [4] - The partnership with CDC Habitat Group will enhance the development of the Marseille and Montpellier Sud sites [1] - Casino Group aims to leverage this transaction to reduce its financial debt and enhance its retail solutions as part of its Renouveau 2028 plan [6][7] Group 3: Company Profiles - Icade is a full-service real estate company with a portfolio worth €6.4 billion and an economic revenue of €1.2 billion in 2024 [8] - Casino Group operates the largest network of convenience stores in France, with net sales of €12.5 billion in 2024 [9]