Xior CMD Feedback, Basecamp DNA is an upgrade for Xior

Xior invited us to Copenhagen and Malmo to visit 3 properties out of the ex-Basecamp portfolio and presentations on other regions. The Basecamp deal transforms the DNA of Xior that can be replicated on a large part of the old portfolio. It also serves as an integration platform for acquisitions. While the timing of the deal hurt the company badly, there is an amount of goodwill (knowledge) that can be further monetized in higher rents and margins. The Basecamp “by Xior” platform caters largely to the international student community that is lured via social networks and search engines. We got insight in the “Basebuddy” system that employs students as ambassadors for the properties. Xior CMD also showcased a broad team effort with presentations for the region managers and marketing. We will only get FY25 EPRA EPS guidance at the FY24 results. We expect a flat EPS trend, while the LTV% could decrease through more CiK deals (Poland).