Castellum AB (publ)

welcome to the presentation of castellum q3 report for the first part of the conference call the participants will be in listen only mode during the questions and answer session participants are able to ask questions by dialing star 5 on their telephone keypad now i will hand the conference over to ceo hossein schoberg and cfo jens andersen please go ahead

Good morning and welcome everybody to this Q3 presentation. Thanks for joining us this Friday morning. We jump straight into the figures and Jens will elaborate on the numbers further on in this presentation. But in summary, Castellum's core business continues to deliver stable results. Our total income increases by 9.7%, mainly due to indexation and completed projects. Income from the property management decreases mainly due to higher interest costs, while NOI increases with 10.5%. Our financial cost increases by approximately 55%. Total changes in property values in the year so far, January to September, is 5.4%, corresponding to some 8.2 billion SEK. The average yield requirements now sums up to 5.19% compared to 5.01% at the beginning of this year. The net leasing is positive for the second quarter in a row, plus 15 million SEK. More on that later. Slightly decreased economic occupancy rate, mainly due to divestments of assets that were fully let at the time of disposal. So to those of you who are new to us, Castellum is one of the largest listed property companies in the Nordic region. We're a fully integrated company with local hands-on presence where our assets are located. The property portfolio is concentrated in attractive growth regions in the Nordics. and we're exposed to the robust market in Norway via our associated company Entra. On the map, you can see the locations of our properties. And as of last September, our property value sums up to 168 billion SEK, including our share in Entra. And of those 168 billion, 73% is located in metropolitan areas, 73. And 47% of our square meters is sustainability certified. We have a yearly contract value of approximately 9.5 billion. Jens?

Yes. Income is showing good growth with a 9.6% increase in like-for-like holdings. When we exclude currency effects from our portfolios in Denmark and Finland, the total rise in the like-for-like portfolio sums to 8.6%. Of total growth in income, the like-for-like portfolio stands for approximately 67%, whilst completed projects stands for approximately 30%. The growth is weighted down by transactions. Completed projects have made a significant contribution, boosting the NOI by SEK 213 million compared to the same period last year. Notable projects include EM new headquarters and a new court in Malmö and a police building in Örebro. All green certified, long duration, high quality assets, improving the overall portfolio quality. Completed projects together with the like-for-like portfolio are key drivers increasing the NOI, standing for 95% of the growth. Direct property costs have risen with 10.4% and 12.4% in the like-for-like portfolio. The increase is significantly lower for the third quarter, attributed primarily to the adjustment of property taxes and lower electricity costs in the third quarter. Joakim.