Genova Property Group AB (publ)

The third quarter has been a good, active quarter for Innova. We continue to drive on, we increase our profitability and the result falls well and we have strengthened our financial position. What we continue to focus on throughout the entire business is to strengthen the income and what is so clear and pleasing when we look at it specifically in the third quarter is that we do it in all business areas. The administration has done a long-term effort to increase our turnover. We earn money by acquiring good properties that will strengthen the long-term income. The development business is doing well and we have managed to carry out a number of refinances that actually strengthen the financial network. So overall very positive. And then we can also add that we are calling for the option to acquire remaining shares in our subsidiary company Järngrinden, which will long-term strengthen our income. We have had a successful quarter when it comes to the administrative work and especially with a focus on expropriation. We continue to grow and strengthen our expropriation rate. It goes from 92 to 93 percent, which is exciting. And what is also clear is that if we look forward, it will increase further as a lead in the expropriation work we have successfully carried out. In combination with the acquisition that we have carried out here for the first half of the year, where we buy a portfolio of properties in Stockholm that fits well into our other stock with a good and stable cash flow. Overall, very positive on the rental side and the administration side and that is positive when we look forward to it. We continue to work with optimizing the capital structure and lowering our financing costs. This is an important part of our business. The third quarter was not an exception. We have been active in the capital market both by issuing new non-secured bonds and hybrid bonds, and at the same time we have repurchased. All of this together makes us strengthen our income and increase profits per share as a way to lower our financial net. Genova acquired Järngrinden in 2022 and owns 51% of the company today. It is a very nice company in Western Sweden that is mainly focused on lightweight industry and logistics development and has a very strong growth, which is positive. During this quarter, we have decided to acquire the remaining 49% of the shares over a number of years, which in the long run will strengthen Genova and give us a steady and continuous gap in Western Sweden, which is positive and will somehow combine and strengthen the entire Genova Group in a very positive way. So that's something we look forward to and will continue to work very actively with. Genova and the platform Genova has is very strong, stable, we have good profitability, we have good access to capital and liquidity, which creates good conditions to increase profit per share and drive the company in a very positive direction. Right now, we have a world that is uncertain. We see increased interest rates, which affects the real estate market, and it also affects the transaction market to a certain extent. But despite that, we see great opportunities to continue to create value, and we will act proactively and drive to do the best we can to create maximum value for our shareholders.