Demire Deutsche Mittelstand Real Estate AG Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Mattieu Reinholdt - Accunia Fondsm¦Glerselskab A/S - Analyst : Just wanted to get a feeling on the assets held for disposals and the write-off you made of EUR 25.5 million. Would you be able to disclose here how much of that EUR 25.5 million relates to the Ulm properties that you have already disposed of? And how much relates to the rest? That's the first question. And the second question is the other properties that you now have as assets held for sale. How advanced are you in order for you to be able to classify these as assets held for sale, and which assets do they actually relate to?

Question: Mattieu Reinholdt - Accunia Fondsm¦Glerselskab A/S - Analyst : Yes. No, that's fair enough. Yes. But just like if you are able to classify them as assets held for sale, is that because you have -- from an accounting perspective, can you do that because you have notarized the sales? Or is it because you are very close to notarizing the sales?

Question: Mattieu Reinholdt - Accunia Fondsm¦Glerselskab A/S - Analyst : That was very clear.

Question: Philipp Sennewald - Hauck AufhSuser Investment Banking - Analyst : You just mentioned that you're currently in discussions with bank lenders for bank financing. Can you quickly elaborate what kind of conditions are we currently talking about there? Is it 4%, 5%? And what kind of volumes of bank lending you want to raise throughout the year to prepare for refinancing?

Question: Philipp Sennewald - Hauck AufhSuser Investment Banking - Analyst : And maybe to go a bit further there, costs on refinancing, you already paid back 2 tranches of the bonds expiring next year. Are you intending to make another premature repayment there? Is it what you want to do? Also what funds you're going to get from the asset disposals?