Martin Thiel

Co-CEO & CFO, Tag Immobilien

Search every verified Martin Thiel interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In an August 2023 interview, TAG Immobilien CFO Martin Thiel discussed the company's first-half 2023 results, noting that while the company experienced operational earnings declines and higher financing costs, it was able to offset a large portion of rising interest rates through its rental and sales activities. Thiel stated that the company's portfolio valuation led to a net loss of €305 million, compared to a profit of over €300 million in the same period the prior year. He highlighted that TAG is the second-largest landlord in Poland with 2,300 rental units, and described the Polish market as offering higher rental yields than Germany due to lower construction costs and higher rents per square meter. Thiel also addressed the company's financial strategy, stating that TAG has an "ATPC" (likely a reference to a loan-to-value or similar leverage metric) of 45 percent, which he described as nearly achieved, and that the company's cash generation from ongoing operations is sufficient to cover debt repayments. He noted that in Germany, TAG focuses on the affordable housing segment in B and C locations, while in Poland it operates in the mid-to-upper segment. Thiel indicated that the company plans to continue selling assets and using the proceeds to start new projects in a capital-efficient manner, though he did not expect large transactions in the near term.