• NOI stood at EUR 152m, up 12.6% YoY driven by last year's acquisitions.• 3M footfall was down 0.7% YoY on a LfL basis, impacted by calendar effects.• Occupancy is stable vs December end at 98%.• NEPI has reaffirmed its guidance published in February 2025 with DEPS expected to increase by 1.5% YoY to EUR 0.6017 and a dividend payout set at 90%.• Based on our EVA & peer valuation methodology, we lift our TP at EUR 7.30 vs. EUR 6.89 previously.
