Operating RecoveryRevenue rebounded strongly in 2025 with positive EBIT, indicating core rental and property operations are recovering. Sustained operating profitability reduces reliance on one-time gains, lowers structural cash burn, and supports reinvestment in leasing and asset upkeep over the medium term.
Positive Cash GenerationThe company has generated positive operating cash flow for multiple years and achieved positive free cash flow in 2024–2025, showing improving cash conversion. This recurring cash generation supports debt servicing and necessary capex, enhancing resilience versus REITs reliant solely on valuation gains.
Material Asset Base And Serviceable Capital StructureA sizable, stable asset base provides collateral value and potential liquidity via selective disposals or refinancing. The capital structure is described as serviceable, meaning management retains options to manage liabilities and pursue portfolio repositioning without immediate structural insolvency risk.