Diös Fastigheter AB (publ)

Good morning, everyone, and welcome to today's DIOS interim report for January to March 2025. My name is Seb, and I'll be the operator for your call today. If you would like to ask a question during the Q&A session, please press star 1 on your telephone keypad. If you would like to withdraw your question, please press star 2. I will now hand the floor to Johan Doernmacht to begin. Please go ahead.

Good morning, and welcome to this Q1 presentation of DIOS results for the first quarter 2025. My name is Johan Dönmar. I'm the Chief Investor Relations Officer. I'm joined today by CEO David Karlsson and CFO Rolf Larsson. Today, we will begin with a brief summary of our performance, followed by a detailed update on the results. Then we'll provide a market update and also discuss the recent transaction in Umeå. Finally, we open up the floor for a Q&A session. Thank you for your engagement. I now hand over to David.

Thank you, Johan. To give a short introduction of the development in the first quarter, I start by stating that it has been a quarter marked by increased uncertainty and turbulence in the global stock and capital markets. In our cities, we have noted Northvolt's bankruptcy, which primarily affects Skellefteå. while we have received clarification that over 1,000 new jobs will be created in Östersund and Falun related to defense-related initiatives. Operationally, the result for the first quarter is really stable. The growth in income from property management amounts to 10% for the quarter. The average interest rate decreases by 10 basis points from the turn of the year, and net leasing is positive again. rental market in northern sweden remains resilient the increase in vacancies is due to asset rotation and the completion of new developments both within our portfolio and the broader market temporarily raising vacancy rates this is not unexpected as it has been anticipated for some time access to financing remains strong with lower interest rates and margins The market now expects further interest rate cuts from the Swedish central bank Riksbanken throughout the year. The marginal cost of debt is lower than the average cost of debt in the portfolio, which will give lower average interest rates going forward. The transaction market has picked up and we see several deals being completed, which is positive and proves the values we have in the books. Our acquisition in Umeå of 1.6 billion is a great contribution to our portfolio and completely in line with our growth strategy. To financing this acquisition, we will be net seller in short term to balance our LTV. I will return to the outlook at the end of the presentation. But what I can say is that our cities in northern Sweden have a good development with continued stable or rising rental levels and underlying growth. I will now leave the word to Rolf to go through the numbers in more detail.