Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome, and thank you for joining the IMMOFINANZ conference call on the full year results 2022. Throughout today's recorded presentation, all participants will be in a listen-only mode. The presentation will be followed by a question-and-answer session. If you would like to ask a question, you may do so by pressing star and one. Press the star key followed by zero for operator assistance. I would now like to turn the conference over to IMMOFINANZ. Please go ahead. Yes, good afternoon from Vienna. Here's Bettina Schragl. Thanks for your interest in your earnings call. With me today, is Radka Doehring, our Executive Chairwoman, as well as my colleagues, Marius Reinsperger, Head of Finance, and Andrea Schönfelder, the Head of Controlling. Radka will lead you quickly through our presentation, which we have put on the website yesterday evening, and afterwards, we would be happy to answer any questions. I may hand over to Radka. Thank you, Bettina. Good afternoon, ladies and gentlemen, and welcome to our conference on this Friday afternoon on the results of our 2022 financial year. The environment was challenging, IMMOFINANZ delivered strong operating performance. We also took important steps to grow our portfolio and further strengthen our position. Before we go into detail, one note. With our 2022 financial statements, we are reporting the full consolidation of S IMMO for the first time. Since the increase in our investment in S IMMO to 50+ 1 share took place at year-end 2022, the assets and liabilities of S IMMO represent an integral part of our balance sheet, but the income statement positions are not included. Therefore, KPIs like portfolio yield only refer to IMMOFINANZ. In reading the report and the re-presentations, we are referring to IMMOFINANZ Group for the fully consolidated figures and only to IMMOFINANZ when speaking about our company on a standalone basis. Let's start with the overview of our highlights on page three of the presentation. In the past year, we saw a strong performance by our properties, which are managed by excellent teams. like-for-like, meaning adjusted for acquisition, disposals, and completions of rental income increased by 13% in the final quarter and by 8% over the whole year. The occupancy rate is high at 93%. Asset management income improved by 7% to EUR 226 million and sustainable FFO 1, Excuse me, by as much as 22% to EUR 146 million. We can also point out to an unchanged robust financial base, with an equity ratio of roughly 48% and net loan-to-value ratio of 41%. Our liquidity stood at EUR 685 million as a group, plus an additional unused credit line of EUR 100 million was unused at year-end. At the last year, we also experienced many changes in our shareholding structure in IMMOFINANZ. With CPI Property Group holding now 77% of IMMOFINANZ, we are now a part of a leading European real estate group with a portfolio of more than EUR 20 billion and extensive experience. Our common goal is to offer our tenants the best property solutions and to improve efficiencies. The first steps we're taking in 2022. We combine our teams in the areas of asset management, property management, and other services in numerous countries under CPIPG's leadership to optimize our organizational structure. With an increase of our investment in S IMMO to more than 50%, we reached a long-term strategic goal. Both companies have outstanding and complementary portfolios. We now look forward to realizing further synergies and improvements together with CPIPG and S IMMO. Overall, our portfolio grew both by more than 60% to EUR 8.4 billion. This was mainly driven by S IMMO consolidation, as well as acquisitions and completion in the retail sector. With regards to our retail parks, we significantly expanded our leading market position and now hold 134 locations in 10 European countries. What makes us particularly happy is that these properties are fully let at 99%. Let's now take a detailed look at the P&L starting on page six. Rental income rose by 5.4% to EUR 300.2 million. If we recall that the previous year was positively influenced by a compensation payment of EUR 6.7 million for the reduction of space by a tenant, we can see an even higher increase by 8%. The results of asset management also improved by 7.2% to EUR 226 million due to cost savings. The results of property sales totaled EUR 4.6 million, including a very successful set of three buildings in Vienna and Prague. As we reported in Q2, the results were negatively affected by the write-off of a purchase price receivable from Russia in the amount of EUR 12.9 million. After an adjustment for this Russian write-off, the sales margin reached a high 10.6%. The result of property development amounted to EUR -20.7 million and reflected the market development and rising construction costs. The result of operations stood at EUR 154.3 million and were negatively influenced by one-off costs that occur because of the change of control in IMMOFINANZ. The results from profit evaluation and goodwill on the next page show two major influencing factors. On one hand, the results from the revaluation of standing investments reflected in general market trends in total EUR -110.5 million. This corresponds to roughly 2.1% of our standing investment at year-end. The devaluations relate primarily to the office sector and here primarily to the German and Austrian markets. In the retail sector, we even saw an overall increase in the value primarily due to higher rents. We had a positive earnings effect from the initial full consolidation of our S IMMO stake of EUR 214.6 million. This amount is, however, further reduced by effect in financial results, which we will come to in a moment. The results from valuation and goodwill is therefore positive in EUR 104 million. Financial results on the next slide were negative at EUR -72.6 million. As to the main drivers, we saved nearly 9% in the net financing costs, which in the end amounted to EUR -72 million. A reduction in the interest expense on the bonds due to the change of control and the related redemptions and conversions, was partially offset by an increase of the overall market conditions for real estate financing. Similar to previous quarter, other financial results were stronger, positive at EUR 149.1 million. Above all, due to positive valuation of our interest rate derivatives. This clearly demonstrates the effectiveness of our hedging strategy. At equity earnings of EUR -106.19 million were below the previous year's level and resulted mainly from the final measurements of the equity investment at S IMMO at fair value. It is the impairment of the final fair market valuation at equity stake. Earnings before tax amounted to roughly EUR 186 million or 52% less in comparison to 2021. Net profit clearly reached a positive level of EUR 142 million, in spite of the negative results from profit evaluation. This represents earnings per share of EUR 1 compared to EUR 2.6 in the previous year. The total net effect from the inclusion of S IMMO is EUR +55.6 million. As I mentioned before, it includes an increase of EUR 214.6 million from the purchase of S IMMO shares below the fair market value, as well as a reduction of EUR 159 million as an impairment of the final fair market value valuation. A look at our FFO 1 from the standing investment shows a sound increase of nearly 22% to EUR 146.1 million. This amount includes a dividend of EUR 12.7 million from S IMMO. As already mentioned in the P&L analysis, we had some one-off effects due to the takeover by CPI. We have adjusted these effects in the calculation. FFO 1 per share equals EUR 1.07. Our next focal point is the group's financing structure and liquidity profile on slide 10 of the presentation. These KPIs include S IMMO. Liquidity amounted to EUR 685 million at year-end. We also have a credit line of EUR 100 million at our disposal, which has not been used to date and is therefore available in full. The maturity profile for 2023 still shows our corporate bond at EUR 187 million. We repaid this bond in full in January from existing funds. Our net loan to value ratio slightly increased to 40.7%, but is still at a conservative level. Financing costs increased to 2.6% due to overall market trends. The remaining terms of the financing is now four point two years. IMMOFINANZ also has a high hedging quota. 87% of all financing are hedged against interest rate fluctuation. That creates an important advantage in current environment. This brings us to the portfolio overview on page 12 of the presentation. As mentioned at the beginning, we have significantly expanded our portfolio volume by more than 60% to EUR 8.4 billion. Around 95% of this, EUR 7.9 billion are standing investments with an occupancy rate of 93%. The portfolio growth was mainly driven by a full consolidation of S IMMO as well as acquisitions and property completions in the retail sector. IMMOFINANZ and S IMMO have complementary portfolio with a clear focus on office and retail. These two subclasses stand for 98% of IMMOFINANZ's portfolio and as well, and nearly 70% of the S IMMO portfolio. S IMMO is also involved in the residential and hotel sectors. Although the residential segment will be reduced as a result of planned sales in Germany. On the next page, we have an overview of our portfolio excluding S IMMO. The portfolio grew slightly to EUR 5.2 billion, with a gross yield of 6.5% based on the IFRS rental income and 6.7% of invoice rent. A high quality and diversified tenant mix remains the key features of our portfolio. No single tenant accounts for more than 3.6% of the office space, respect to the 4.3% space in the retail space. On the right side, you can see the development of our occupancy rate, where we are at a very good level of 94.3% overall. In the office segment, we fell slightly to 88.1%, mainly due to the competitive markets in Düsseldorf and Bucharest. In the retail sector, we are fully leased at around 99%. This brings us to overview of our successful brands. With our myhive offices, we are holding at 27 locations in eight capital cities. In addition, here in Vienna, we are working on a myhive Urban Garden, a particular sustainable building that will be completing this summer. We have increased the number of our STOP SHOPs to 134 through acquisitions and completions. This corresponds to a leasable area of around 1 million sq m. These are just like VIVO! shopping centers full release. Like-for-like. On the following slide. Like-for-like, rental income on the next slide rose by a sound 12.9% in the Q4 of 2022, and by 8.1% in a year-on-year comparison. When we look at the development for full year, around 40%-50% of this increase was based off contract indexing. The remainder came mainly from a higher turnover rent in the retail segment from new tenants, and also from the expiration of previously granted rent discounts in the office segment. The latter effect is also reflected in the above average percentage increase in Germany when comparing the final quarters of 2021 and 2022. The flat development in Hungary is mainly related to the fact that we have already had a very high turnover rent in the final quarter of 2021. This bring us to the overview of the property acquisitions and completion. At the beginning of the year, we acquired a fully leased retail park in Udine in northern Italy. With around 33,000 sq m, this is our largest retail park in the portfolio. We have expanded our presence in Croatia as planned, opening three STOP SHOPs during the course of the year 2022. Another location followed in March 2023, and the next opening is planned for April 2023. With the purchase of 53 retail properties from CPI, we have taken a big step to strengthen our leading position. The properties that joined our portfolio between September and December 2022 are a perfect fit for our existing STOP SHOPs and are generating rental income of more than EUR 25 million per year. At year-end, our retail portfolio comprises of total 167 property with 1.3 million sq m of space and book value of EUR 2.3 billion. We also make very good progress on our program to sell property with a total value of approximately EUR 1 billion and close profitable sales of nearly EUR 166 million during the past year. If we add the properties held for sale at the end of the year, we come to around EUR 175 million. Our transaction includes the sale of three buildings in Vienna and Prague to local market players. Further sales are in preparation, and we are optimistic that additional closing will be possible in the coming months. A great advantage in our broad offerings with individual properties that are the individual properties ranging from EUR 10 million to over EUR 200 million in various countries. Our development pipeline is shown on page 18. With a book value of around EUR 127 million at the year-end, an outstanding construction cost of around EUR 48 million. This volume is very manageable and consists of mainly of two office refurbishments in Vienna and Bucharest and STOP SHOP development in Croatia and expansion of existing retail park in Serbia. On the following slide. We continued to pursue our initiatives and projects in the interest of ESG and climate protection during the past year. In addition to the development of multi-year ESG strategy, we saw the first successful results of our long-term net zero commitment that was announced in 2021. Our greenhouse gas emissions were reduced by 38% compared with 2019 base year. Excuse me. Probably I can take on for this slide. We have also improved other important key figures. For example, we have made very good progress toward our goal of sourcing 100% renewable energy by 2024. Meaning in the last year, we already stood at 71%. With regard to the expansion of our photovoltaic systems on the roofs of our properties, mainly speaking about STOP shops. We are currently maintaining three systems that produce 600MWh of green energy, and another 10-15 should follow. In the course of this year. Yeah, also very important, we have taken an important step to improve our data quality and therefore also our reporting. Meaning among others, this year we are reporting the complete Scope greenhouse gas data for the first time. We have also disclosed our data, our full data as part of the internationally recognized Carbon Disclosure Project. Thank you. Thank you, Bettina. With regards to our focus on social sustainable spaces, we have further increased the share of sustainability certification for our buildings by 17.5% to more than 900,000 sq m or 42% of the total existing space. As of the end of the year 2022, an additional 12 buildings covering approximately 135,000 sq m were also involved in or preparing for the certification process. With our myhive Urban Garden in Vienna, which I mentioned earlier, we are also working on a particular sustainable office building that not only includes the numerous benefits and services of myhive, but will also receive a BREEAM Outstanding certification and will become one of the few buildings of this type in Austria. We are also proud of the finalization of our green lease strategy, which we are rolling out across our portfolio. I would also like to mention that we have been a signatory of the EU-UN Global Compact since 2021, and that our reporting also complies with the EU Taxonomy Regulation. Our local teams regularly work with nonprofits and aid organizations to provide support in crisis situation. I now would like to take you through the outlook. Our long-term objective is to drive growth with our successful retail and office brand as well as complementary products, and to safeguard our robust financing base. With the resilient STOP SHOPs and retail parks, we want to grow to more than 140 locations. Our VIVO! shopping centers brand could be strengthened in the medium term by acquisitions in regional shopping centers, this will depend on the market environment. In the office sector, we will continue our proven course with myhive office solution. All in all, this is a portfolio of first-class and innovative brands, which places us very close to our customers. As the current environment is characterized by rising interest rates and high inflation, we are focusing on higher yield-yielding retail and office properties. As a part of our active portfolio management, we announced our plan in June last year to sell properties with a value of approximately EUR 1 billion, we have already made good progress, as I mentioned before. The remaining sales pipeline amounts to approximately EUR 830 million, and we are confident that we will be able to go forward with our plan. Additionally, S IMMO has announced that they currently have German assets exceeding EUR 500 million under consideration for disposal. On the next slide, we show an overview of an increase of our stake in S IMMO. We acquired 17.3 million shares for approximately EUR 337 million, or EUR 19.5 per share from our core shareholder at the end of 2022. This transaction is financed by a long-term credit facility provided by CPIPG with the term until 2028. The increase in our S IMMO investment represents the fulfillment of our long-term strategic goal. Immo can and S IMMO have outstanding and complementary portfolios. The consolidation of these two companies is a value driver and creates stronger market position. We are currently working with S IMMO to identify further synergies and closer integration of the two companies. Finally, a preview of our annual general meeting, which we have brought forward from the end of June to 3 May. It will take place as a virtual meeting in accordance with the applicable legislation. In general, we expect an ongoing volatile market environment. Also, central bank interest rates hikes we have not seen yet. In line with our strategy to use liquidity primarily for the repayment of debt and acquisition, we will ask the annual general meeting to raise the dividend for 2022 financial year and use the funds to strengthen the balance sheet. Yeah, thank you very much. This was a quick going through to our presentation. Yeah, we are now happy to answer questions. Ladies and gentlemen, at this time, we will begin the question and answer session. If you would like to ask a question, you may press star followed by one. If you wish to remove yourself from the question queue, you may press star followed by two. Anyone who has a question may press star followed by one at this time. One moment for the first question, please. We have the first question from Jakub Caithaml from WOOD & Company. Your question, please. Hi. Hello. This is Jakub. Thanks for the presentation. Two questions from my side, please. On cost of funding, You could share, based on your discussions with banks or if, you have recently closed any bank financing, what would you say is currently the cost at which you can get secured lending? Then on the offices in Romania and Germany, if you could remind us what is the estimated rent level that you believe you could potentially rent the vacant office space in these two countries, and how does it compare to the average which we see there? Yeah. Hi, Jakub. Thanks for the questions. I will take the first one regarding the financing. I mean, you know, regarding our refinancings and new financings, of course, the focus is on bank financing, and we are in a very good long-term partnership with our banks. What we also see that they are ready and also willing to finance good real estate properties. I mean, of course, according to market trends, overall market trends, we recognize rising margins, I would say in the area of around 25 basis points. This is valid for the overall market and also for the interest rates, short and long term. Yeah, I mean, just to give you an example for the margin widening. For example, in Austria, when we speak before of 1.5% margin, then we are now at around 1.75%. In CE, it was previously about 2.25%, and now we are here at 2.5%, I would say. With regard to the second question, regarding offices in Romania and Germany, I hand over to Andrea. Hello, this is Andrea speaking, the Head of Controlling. I understood that it was the German and the Romanian office market. Approximately, Bucharest is a competitive market, but we think that we can be at our usual rent level, which will be about EUR 10 per square meter under IFRS. Rent levels higher, yeah, EUR 13. When it comes to Germany, around EUR 20 per square meter. That's it. Probably I can add a bit current occupancy rate in both markets. They are competitive markets, and it's also a little bit office specific driven because in Romania, it includes 1 building where we saw the exit of a larger tenant. The same in Germany, where we reduced the space for a larger tenant. We also reclassified one building from development into standing, which was not fully let. As said before, we are quite confident that we will increase the occupancy rate after year-end to more than 90%. Thank you. And maybe a follow-up on the disposal program. Can you maybe chart what sort of counterparties are you talking to on the disposals front? I mean, is it big institutions? Is it some smaller local family offices? Is it deals which would be debt financed? Or, I mean, are the buyers who are still on the market purely equity funded? Any color on that would be very helpful. Yeah. I mean, we are just today in the process of closing another sales transaction, and hopefully we can make an announcement till today. This refers to the Austrian market, and here we have seen very strong interest. We have received nearly 10 offers. In this case, it was mainly Austrian interested parties, but also two, I would say, family office institutional buyers from Germany. Meaning, I would say it's. Yeah, there is still strong interest, and it is still mixed, but, of course, with the, I would say, with more focus on the local buyers. Mm-hmm. Understood. Thank you very much. Ladies and gentlemen, I repeat, if you would like to ask a question, please press star followed by one. We have one question from Thomas Neuhold from Kepler. Your question, please. Yes, good afternoon. Thank you for the presentation, thank you my questions. I have two of them. The first is on the strong like-for-like rental growth. Can you please provide us a breakdown which portion of it is coming from a vacancy reduction and which from reletting and also which part from inflation adjustments? That's the first question. The second question is on your dividend strategy going forward. You skipped the dividend for last year. Can you provide us with some color on under which condition you would consider restarting dividend payments in the next years? Yeah, I mean, regarding the like-for-like rental income, we both looked at the development in a very strong fourth quarter and in the full year, it is more or less the same picture. When we look at the full year development, we like-for-like in Greece, we can say that about 40%-50% came from indexation and the remainder mainly from turnover rent, of course, especially in the retail segment and new tenants. In addition, in the comparative year, last year, 2021, we had two larger office tenants to whom we gave rent discounts, this also had a positive impact on the comparison. Yeah, as regarding dividend payments and dividend policy, I mean, we explained the rationale of the executives and supervisory board in our press release. I think it was not a surprise for the market with regard to future dividend policy. I would say this is currently develop dependent on the overall market development and of course, with also discussions with our majority shareholder. Therefore, for the time being, we can't give any guidance on it. Okay. Thank you very much. There are no further questions at this time, and I hand back to IMMOFINANZ for closing comments. Yeah. Thank you very much. If you have further questions, please don't hesitate to reach out to us. Wish you a nice weekend and a nice Easter holiday if you have the opportunity for it. Thank you and goodbye. Ladies and gentlemen, the conference is now concluded, and you may disconnect your telephone. Thank you very much for joining, and have a pleasant day. Goodbye.