1H FY2024 Financial Results Webcast Briefing

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Two. One. It's just. Thanks. Hi. Good morning, everybody.

And welcome to the phrases. And commercial trust. First half. F Y 20, 24. Results webcast. On today's call. We have. A lot of questions. We have a lot of questions. We have a lot of questions. We have our CEO. Our CFO. And a J our head of portfolio management. So as usual, we'll start off with our presentation. Followed by our Q and a session. And for the Q and a session kindly keep your questions. Two questions. So let's start the presentation. Good morning, everyone. I am empty. And thank you for joining our first half F Y 24 financial results. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. I felt city has demonstrated. Resilient operating performance. Supported by a strong LNI portfolio fundamentals. FLC achieved positive portfolio rental reversions. Of 3.8% on the incoming rent versus outgoing rent basis.

And a positive 14.2% on the average of preceding lease. Versus average of new or renewed lease basis. And the total of 12.2. A square meters. Of space was leased across the whole portfolio. Portfolio occupancy remains stable at 94.3%. While the LNI segment continues to enjoy full occupancy. For another consecutive quarter. And for our balance sheet. He continues to maintain a healthy capital position. We've been aggregate liberation of 32.7%. Moving on to the pitch on well-diversified portfolio. So with the completion of the acquisition of 89.9% interest. In foreign German properties in and much. And the completion of else meal port in last December. FLC. T's portfolio comprises a total of 112. Properties with a total portfolio value at 6.8 billion. Approximately 71% of the portfolio by value. Comprises L and I assets.

On the next slide, slide seven. So just a quick recap on our recent acquisition. Of 89.9% interest in all properties in Germany. At euros, hundred billion nine point five million. Representing a discount of 5.3%. And 1.1%. To two independent valuations. Is fully funded by debt. The four assets are stabilized. Income producing. Logistic assets in key logistics markets in Germany. Assets are fully leased to quality tenants. Such as Shankar. That's a helmet. Germany. And which are all existing tenants within our FLCT portfolio. As well as new tenants in the logistics distribution. Consumer and retail product. The transaction, which was completed in and much. Is in line with the investment strategy. To increase our L and I portfolio. We did. In the existing market. The FLCT has a presence.