CTP Conference Call lifts the lid on Vietnam expansion

The conference call explained that the FY25 EPRA EPS range will be at lower end of 0.86-0.88 due the cancellation of a Romanian deal. This deal was baked into the estimates and would have amounted to a €250m deal. Our estimate stands at 0.86 anyway. The cancellation could be linked to Romania's newly enforced Foreign Direct Investment (FDI) screening. CTP now commands a 40% market share in Romania. A lot of attention in the call was spent on the unknown Vietnam potential for CTP. CTP will publish a paper on Vietnam on their website to illustrate their view on the market. However, the call also put a lot more meat on the bone.