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Half Year 2023 Covivio SA Earnings Call Transcript
Hello, everybody. I'm happy together with Paul to welcome you to this audio webcast and conference call to comment on Covivio's H1 '23 results. So let's start. Page 3 with some [introductory] comments on key achievements in H1 '23. First, in a changing economic, financial and investment markets environment, we managed to keep a healthy balance sheet despite significant value adjustment and thanks to new disposals agreement and scrip dividends.
Second, we kept on benefiting from more quality portfolio with a 7.6% like-for-like rental growth and a 95.8% occupancy rate. Linked with values, EPRA NTA was down to EUR 91.1 per share but we managed to maintain gearing close to below 40% policy and published a stable EPRA earnings. The strong operational performance also enabled us to slightly raise our '23 guidance.
First, on Page 5, we are on track with our disposal program. Over the semester, we agreed on EUR 350 million new disposal in group share with minus 1.2% margin, so really close to 2022 appraisal values. At end June 23, we are well
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