Adler Group S.A. (ADPPF) This fall 2025 Earnings Call Transcript

Sven Doebeling

Good morning, everyone, and thanks for joining us for the Adler Group 2025 Results Call. Speakers today, as usual, are our CEO, Dr. Karl Reinitzhuber; and our CFO, Thorsten Arsan. Both will guide you through today’s presentation and then answer your questions. Please note that this call is being recorded and will be made available on our website where you can also find today’s presentation. For me, today marks my first results call with you since I took over the role as Head of Investor Relations and Communications at the end of 2025. I look forward to staying in close contact with you going forward. You will find my contact details on the last slide of this presentation.

And with that, I’ll hand it over to Karl.

Karl Reinitzhuber
CEO & Director

Good morning, everyone, and thank you, Sven. Before we start with the Q4 numbers, let me give you an overview of our recent asset disposals on Page 4. As communicated in our press release from 9 February, we continue to make good progress on the disposals of our development projects and Q4 was a particularly eventful quarter. In December ’25, we closed UpperNord Tower, which had been signed in April. Furthermore, we closed Quartier Kaiserlei in January ’26 and Benrather Garten in March ’26, following their signing in Q4 ’25. The proceeds from these 3 transactions were used to further reduce the first lien new money facility in the first quarter of ’26. In addition, we signed Holsten Quartier in Hamburg during October ’25. The first closing of this transaction happened yesterday. We have received more than 80% of the purchase price. The remaining proceeds for a smaller part of the plot will be received within — with the second closing in the coming