John Mattson Fastighetsföretagen AB (publ)

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Welcome today. My name is Per Nilsson and I am the CEO of Jomatson. I look forward to presenting our quarterly report for the period from January to March together with our CFO Ebba Pihlokart. Despite the cold and snowy start of the year, Jomatson continues to deliver strong growth in the management value of the share, while we continue to have a positive value development in our assets. The administrative result increases by 9.8% per share compared to the first quarter of the previous year, and the long-term surplus value per share increases by 7.1% compared to the same period of the previous year. We have continued our work to increase the risk-adjusted discount in our passive portfolio. This is by excluding the company's most low-discounted assets, to free up capital for investments with higher deductions. At the beginning of the year, we converted two properties, both to premiums compared to book value, which also shows the value potential in our property portfolio. We have also had a continued progress when it comes to the work with a return to new production here during 2026, where we, during the quarter, entered a lease agreement with and after the start of the quarter, the entrepreneurial agreement with the ERO Group was signed. This is for the care and care residents in Abramsberg, which will be the first project that we start up here in 2026. We have also been successful in our work to expand our project portfolio in previous stages, where we, after the start of the quarter, have a plan for a care and care resident in Larsberg in Lidingö. And we have also, after the quarter's start, entered a JIV with BESCAB, considering the implementation of two housing projects. In total, there are 340 apartments. We will return to that later. After the quarter's start, we have also received information that Turaco's board has proposed a division which is compatible with the sale of their administrative properties. Jörn Mattsson is a shareholder in this company, and given our shareholder, this would mean that if the yearbook decides on the proposal of the board that a division would correspond to about 23 million kronor for Jörn Mattsson. Ebba will tell you a little more about this later in the presentation. If we move on to the goals, we can see that we have a decline that is in line with our financial goals. Our financial goals are that we will have growth in administrative results per share of at least 10% and growth in long-term substance value per share of at least 7%. If we start with the growth in administrative results, the revenues for quarter one increase compared to the same period the previous year by 4.1%. This is above all a result of the major rental negotiations, but also a result of the valuable housing upgrades that have been carried out, which increases rental revenues and also a continued successful work with and rent out the commercial property, which has resulted in increased revenues in our commercial stock. And as I mentioned earlier, we have initially had a very cold and snowy winter. Despite this, we actually manage to have very good cost control, so the property costs increase by only 0.2 percent per quarter compared to the same quarter last year. So högre intäkter och god kostnadskontroll gör att driftsöverskottet ökar med 6 % för kvartalet jämfört med föregående år och att vi då uppnår en överskottsgrad om 69,2 % för kvartalet och hela då 72,6 % för den senaste 12 månadersperioden, vilket är för bolagets rekordhög nivå. Even though we have a higher average interest rate for the first quarter of the year compared to the previous year, the administrative result increased by 9.8% per share. If we then move on to the growth in long-term substance value, the trend we have had since the beginning of 2024 with the rising real estate value quarter by quarter. For the first quarter, we have continued to have stable decommissioning requirements, which in combination with improved waste management, but also value creation in our project operations and realized value changes from the reforms that have been carried out during the first quarter, that we have a positive value development of 0.5% for the quarter. And this contributes to a growth in long-term substance value per share of 7.1%. If we move on to our asset value, there are only minor changes that have occurred compared to the previous quarter. And this is due to the two reforms that we carried out during the first quarter. The number of apartments has dropped by 47 to 4,255, and the available area is 340,000 square metres, which is 2,000 square metres lower than the previous quarter. 82% of the available area is used for the continuation of housing. If we move on to our development project, we have continued to have good progress when it comes to developing building rights and preparing for a return to new production in 2026. If we start with the project geography book, which is the first project that we plan to start here this year, we have We had a good progress in that project, where we signed a lease agreement during the quarter, together with Vardaga, to become operators for this health care line. After the quarter's exit, we signed an entrepreneurial agreement with Aerogruppen for the implementation of the project. The joy in this project is that we have continued to develop this project, which has led to an improved climate impression. We have previously communicated that we have a climate roof for this project that is up to 270 kilograms of carbon dioxide equivalent per BTA. And that figure is now up to 237, which means that we are a good bit below the roof that we have set up. So we are now continuing with the preparations and the goal is that we will continue to have a production start here during the second quarter of 2026. If we move on to the next project, project Ekorten, then the project has been approved by the Ministry of Environment and Urban Development in Lidingö. And that means that we continue to go towards a low-power detailed plan here during the second quarter. And this is one of the two projects that this JV with BESCAB includes. Then, as I mentioned earlier, we have received the positive plan message for a new nursing home in Lörsberg on Lidingö. If you do not include that project in our project portfolio, it is included in the development project for 733 apartments. which we received a plan for after the end of the quarter, which is why it is not included in the agreement. But if you include it, the project portfolio will go up to 839 apartments instead. And in this picture you can see the project that we received a positive plan for after the end of the period. And it is a care and care home in Larsberg that comprises Hundra vårdplatser och även LSS-boende. Platsen för det här vård- och omsorgsboendet är mycket attraktivt. Det ligger precis nere vid vattnet på Lidingö i direkt anslutning till natur. Närheten till Larsbergs centrum och goda kommunikationer gör att det är ett ypperligt läge för en sån här typ av verksamhet. And if you look at the need for nursing homes, we see a strongly increased need in the entire Stockholm region. And the background to that is that we have a changed demographic, where the age group that exceeds 80 years is considered to increase significantly in the future. Therefore, we are happy to be able to meet part of this need through this project. If you look at the nursing home As part of our real estate portfolio, we see this as an attractive segment. As I just mentioned, it has a high demand, but it also completes our residential areas in a good way. We often own large, connected residential areas, which makes it natural to complete our rental rights to achieve greater diversity in our areas and meet the needs of different target groups throughout life. This is also very important for us when it comes to diversifying our property portfolio. The majority of our properties are in rental properties, where rents are adjusted through annual rental negotiations. But by increasing the number of nursing homes, we increase the proportion of rental income that is adjusted by copy on a yearly basis, which also means that we to reduce the risk of strong inflation in the portfolio. And that we get this plan report is like a receipt of the potential that exists within our portfolio. John Mattsson has, above all, properties in clusters where we have several properties in related areas, which also means that there are good conditions for profitable compensation on their own land. And in December 2025, we received a plan notice in Sollentuna. And now, in April, we received a plan notice here in Lidingö. So this shows a greater potential in our stock. If we then move on to JV with Beskad, which we entered here after the quarter's start, it will of course include the implementation of two and this is the initial scope. And then there is a housing project that John Mattsson then provides, and that is the project Ekporten, which I just told you about, which covers about 90 apartments in Lidingö. And then we have a housing and rental project of 250 apartments in Huvudstad in Solna, which then Beskad then sells in JV. En positiv aspekt med det här givet är att John Mattsson har option på att förvärva de färdigställda hyresrätterna. Tittar man på logiken i det här givet så är det verkligen kompletterande kompetenser som både vi och Beskav tillför i det här givet. John Mattsson har en väldigt lång erfarenhet när det kommer till utveckling och förvaltning av hyresrätter, medans Beskavs kärnkompetens ligger i utveckling av bostadsrätter. And if you look at John Mattsson's conditions to generate building rights, our properties are often in very central, attractive areas, which makes it most profitable to develop housing rights projects in our areas. It is also good to mix up our often fairly homogeneous rental rights areas with housing to increase diversity in our areas. But this means that the building rights we develop do not contribute to the long-term expansion of our real estate portfolio. But through this opportunity with Beskab, we can then sell housing rights building rights, while Beskab primarily sells rental rights building rights, which means that we, with the option of acquiring them, can then use the housing rights building rights to also be able to expand our real estate portfolio in the long term. And this is a long-term collaboration, so the ambition is that we will jointly grow this project company with more projects over time. And with that, I would like to hand over to Ebba.

Thank you very much. Yes, the result calculation for the first quarter of 2026. We have an increased management result and a positive result. In the first blue column, we see the result for the first quarter. The rental income for the period goes up to 172.2 million kronor. That's 6.8 million kronor higher compared to last year, and the properties sold have affected the comparison by about minus 1.5 million kronor. For comparable assets, the income increase is mainly due to the annual rental adjustments. For utility bills, they were 3.2 percent in Sollentuna, 3.4 percent in Lidingö and 3.6 percent in Stockholm. At the same time, the revenues are affected somewhat negatively by increased vacancies of about 0.5 million kronor, which is linked to the Rotebro project that is underway now. We have an economic growth rate of 97.3% in the first quarter. It is somewhat lower than last quarter and Q1 last year, and it is due to the increased project activity. If we exclude that we have 54 apartments where upgrades are now underway, så är den ekonomiska utredningsgraden för våra bostäder hela 99,6 %. De där övriga som är outtydda, det är tillfälliga vakanser, bland annat då lägenheter som inväntar renoveringar. Kostnadssidan, fastighetskostnaderna för helåret, 53 miljoner kronor. Det är i linje med Q1 föregående år, trots att vädret har varit mycket kallare och mycket snörikare i år än förra året. In comparable existence, the property costs are 0.8 million kronor higher than last year. And this is mainly due to increased costs for snow removal. And the implemented energy investments have resulted in that the costs for the tax fund have been able to stay at last year's level despite the cold and despite price increases from our energy suppliers. And then we can mention that a district heating supplier raised the price by 6% and a water supplier raised it by 15%. So that has been good with these energy investments. The turnover for the period goes up to 119.2 million. This corresponds to an increase of 6.7 million or 6% compared to Q1 2025. Under perioden uppgick kostnaden till central administration till 13,1 miljoner. Det var 14,7 miljoner föregående år i Q1 och det beror mest på periodiseringseffekter av vissa poster. Finansnettot för perioden är minus 55,2 miljoner och det har försämrats med 4,2 miljoner jämfört med förra året. Det är en följd av att vi nu har högre genomsnittlig räntenivå i portföljen. At the bottom of the table, we see the average interest rate, which per balance day was 3.1% compared to 2.8% at the start of Q1 2025. And now at Q1, we have also included in this financial network a share share related to previous years from Turaco of 0.4 million kronor. Jon Nasson owns a small stock exchange in Turaco, 4.28%. As Per mentioned earlier, we expect further allocation from Turaco this year, which will affect the year's result by approximately SEK 23 million. The fiscal result for the period was SEK 50.9 million compared to SEK 46.8 million at the start of Q1 last year, which corresponds to an increase of 9.8% per share. For the period, the interest rate was 2.0 times and the surplus rate was 69.2%. And it is actually the highest surplus rate that was measured in the first quarter a few years after the introduction of the stock market, which is exciting. We can move on to the change in the value of property for the period, which appears in the first blue column in the table. Today, John Mattsson's property is 14.6 billion kronor, an increase of 30 million since the change of year. And then we have made deductions to the amount of 101 million kronor there after withdrawals for latent tax and transaction costs. And these deductions led to realized value changes of about 5 million kronor. The investments in our properties rose in the quarter to 63 million kronor. The unrealized value changes go up to 63 million kronor. The cost reduction requirement for the entire portfolio is 3.4 percent, and that is unchanged back to Q1 2024. The portfolio's drift net has increased, mainly due to the rents for the housing and the efficiency of the property costs, and that gives 23 million kronor value change. And then we have a change in direct cost reduction requirements, i ett fåtal fastigheter som har bidragit positivt med 22 miljoner. I de fåtal fall där avkastningsgraven har sänkts så har också ökade driftkostnadsantaganden i de värderingarna neutraliserat den värdeeffekten. Vårt fokus på projektverksamhet fortsätter också att synas och bidrar till orealiserade värdeförändringar i pågående projekt och byggrätter. Total 18 million kronor under perioden, och då är det 15 miljoner av dem som är från Rotebro, det projektet som pågår där, som kommit längre, och 3 miljoner från nyproduktionsprojekt som ökat i värde på grund av att projekten har kommit in i nya faser i planprocesserna. Totalt sett har de realiserade och orealiserade förändringarna från driftneton och från projektportföljen och de sålda fastigheterna haft effekt på värdeutvecklingen med hela plus 46 miljoner eller plus 0.5 percent for the quarter. These changes have resulted in our housing value, which is 14.6 billion, towards the end of the period. And then we take the balance sheet per March 31, 2026. We see the highest of these 14.6 billion, which is our starting housing value per balance sheet. And there is also the comparison to the previous year, when it was 14.3 billion. Kassan är 77 miljoner och det var 40 miljoner vid utgången av Q1 2025. På skuldsidan har vi ökat eget kapital med periodens totalresultat. Hänskullet till moderbolaget Aktieägare har ökat med 152 miljoner kronor. Räntebärande skulden är 6,7 miljarder vilket är en minskning mot föregående år på 83 miljoner som beror på att det är amorterat kopplat till de sålda fastigheterna. The net debt is 6.6 billion SEK at the beginning of the period. It is roughly in line with the previous year. It was 6.7 billion SEK. This means that the projects we are working on are still financed by cash flows from the business as well as the reforms. When the rate of investment is to increase during 2026, there are loan agreements to be used and we have very good relations with several banks. Below the table, we can see the reward rate at the beginning of the period. It rises to 45.3%, which can be compared to 47.2% at the beginning of Q1 2025. This improvement in the reward rate is due to the fact that the value of property has increased. The long-term investment value rises to 103.29 kronor per share compared to 96.48% at the beginning of Q1 2025. And it is an increase of 7.1% per share, which is very exciting. Then we take the financing picture. Here we can start down in the left corner with the interest payment. The entire 96% of our loans have an interest payment period that is longer than one year. On average, the interest payment period increased per balance sheet to 3.1 years. This can be compared to 3.0, which it was at the beginning of Q4, and 3.3 a year ago. Den aktiva räntesäkrade volymen var 94 procent av de stibokopplade lånen per balansstånd. Det är ju en ökning, det var 81 procent när vi gick ut ur Q1 2025. John Matten har som långsiktig strategi att ha en hög räntesäkringsgrad och en hög andel räntesäkring i portföljen för att minska exponeringen för volatilitet på räntemarknaden och skapa förutsägbarhet för räntekostnaderna. Because of our low access, it is extra important for us to have this readiness for situations where the interest rate market can move upwards. During the first quarter, the long-term interest rates have moved down, then up, and have been volatile after the beginning of the conflict in Iran. Jan Mattsson has been active in securing 0.5 billion kronor with new interest rates in the beginning and mid-February. which was when prices were the lowest before the Iran conflict. And it was very pleasing that the timing was so good this time. During the quarter, the average interest rate rose from 3.04 per 31 December to 3.10 per 31 March. The stack diagram in the middle is intended to clarify our interest savings. It shows for each quarter in large volumes, which is either interest-safe with swaps or with fixed-interest loans. The green line shows the rate level for the insurance volume, an exclusive credit margin, for each quarter. In other words, it is not a prognosis of the average rate, it is the total loan portfolio. But I still want to emphasize that the company has such a high percentage of insurance in the portfolio that it makes us have a few years to act on it so that Stibor would go up long-term to high levels. An example, if Stibor now became 5% and stopped there, the interest rate level in this loan portfolio would remain below 2.8 percent of the exclusive margin for the next two years, i.e. until 2028-03-31. This means that we have room to adapt if something like this happens. The upper left diagram shows the capital bond in the portfolio, including the unused loan agreements. Kreditbildningstiden är i genomsnitt 1,95 år vid periodens utgång och jämför med 2,9 år vid utgången av förra året. De förfall som kommer nu under 2026 kommer användas till att jämna ut kapitalbildningsstrukturen och sträcka ut den längre i tiden. Går vi över till inkänningsförmågan. Det är en inkänningsförmåga på 12 månadersbasis per 31 mars 2026 med beaktande av hela fastighetsbeståndet som vi äger per balansdagen. Income is calculated by the administrative result without accounting for content without decision-making. This should not be equated with a prognosis. The rental income, based on contracted income per block, goes up to 684 million SEK. It is an increase of 12.7 million SEK in the previous quarter. This is due to the annual rental increases and upgraded apartments, but it is also counteracted by the sold properties Frisen and Gradhyven. The turnover is 499 million kronor, an increase of 12.3 million kronor in the previous quarter. This is due to the increase in revenues, and the properties sold by Fritidsen and Gradriven have reduced the turnover to 3.2 million kronor in total. The property costs are roughly in line with the previous quarter, where the operating and maintenance costs are based on 12 months in comparable terms. and the costs for the property administration are assessed. The central administration is also assessed to 52.5 million SEK. It is roughly in line with the assessments made during 2025. We calculate the financial net from the average rent cost on the net debt per country with the addition of temporary interest and periodized deposit. Potential interest on liquid materials has not been considered. Finansnettet var här minus 227 miljoner, vilket är i linje med förra kvartalet. Men det har ju gjort en något lägre bedömning av periodiserade uppläggningskostnader och vi har en något lägre skuld på grund av de sålda fastigheterna. Och så har det motverkats av att snitträntan ökat med sex punkter. Sammanfattningsvis har förvaltningsresultatet i inkändisförmågan ökat och uppgår nu till 219,7 miljoner vid utgången av kvartalet. Arbetet med att effektivisera fastighetskostnaderna och genomföra uppgraderingsprojekt och energiprojekt för att skapa värde fortsätter och syns även i den långsiktiga trenden från de senaste 12 månaderna som vi ser här. Med det vill jag lämna över tillbaka till dig, Per.

Tack, Ebba. Under det första kvartalet har vi upplevt en tilltagande osäkerhet i omvärlden. Den väpnade konflikten i Mellanöstern has had a great impact on energy supplies, which means that we see a great risk in the future that this, if this conflict is triggered, will result in higher inflation and higher interest rates, but also a dampened economic development globally. We have quite recently gone through a situation with high inflation and high interest rates. That was the case in 2022 and 2023, where we had challenging macroeconomic conditions that affected real estate companies. And this is something that John Mattsson has taken lessons from, so we have since 2022 worked intensively to adapt the company to be able to cope with more challenging macroeconomic conditions. We have done this by increasing the cash flow from the current business, but also to strengthen the balance sheet. In this picture you can see the development we have had in important financial key figures from the end of 2021 to Q1 this year. The work to make housing more efficient and increase the cash flow in running businesses has meant that the surplus rate has gone from 61 to 73 percent. The movement margin has gone from 47 to 65 percent. At the same time, we have reduced the interest-bearing debt from 9.4 billion to 6.7 billion, and we have also lowered the loan rate from 58 percent to 45.3 percent. And as Ebba recently went through, we have also worked to extend the average interest rate period, which is now up to 3.1 years. This, in combination with our stable revenues from rental apartments in attractive locations in Stockholm, means that the company is very well prepared if the environment means that we will have more challenging macroeconomic conditions in the future. Om vi ska avsluta då med att summera John Mattssons första kvartal så är det ju ett kvartal där vi visar på operationell styrka. Där vi trots en kall och snölig inledning av året redovisar en fortsatt stark tillväxt. Vi har framdrift i projektutveckling. där vår återgång till nyproduktion följer plan. Vi har utökat vår projektportfölj i tidiga skeden och vi har ingått JIV med bäskan. Vi har, genom stabila kassaflöden från bostäder i Stockholmsregionen, en stark balansräkning och lång räntevinningstid, en god beredskap för att möta eventuella försämringar i omvärldsläget framåt. Med det vill vi tacka för oss.

If you wish to ask a question, please dial star 5 on your telephone keypad to enter the queue. If you wish to withdraw your question, please dial star 5 again on your telephone keypad. The next question comes from Eric Granstrom from D&B Carnegie. Please go ahead.

Tack så mycket och god förmiddag. Hoppas jag hörs okej. Du hörs bra. Ja, var bra. Tack. Jag tänkte börja med att fråga lite om investeringstakten framöver. Ni nämner ju att ni förväntar er att den ska öka successivt nu när ni har fler projekt och uppgraderingar igång. Vad tror ni ni kommer att landa på this year compared to last year, so that you get a feeling for the increase in pace?

As we have communicated earlier, we believe in an increase that is almost equivalent to an increase compared to the previous year. But then you should bear in mind that what primarily drives this is the return to new production, that we increase the pace in the root business, that is, the upgrades we do. Men också att vi ser att vi kommer ha också en ökad takt när det kommer till vårt arbete med att effektivisera våra fastighetsenergianvändningar som också då kräver investeringar. Sedan ska man ju ha med sig också att det första kvartalet för oss är oftast ett kvartal där det ligger lite lägre investeringar jämfört med vad vi ligger på som genomsnitt för hela året.

Ja, men det är förstått. Och lite på the energy investments that you are doing and given that the portfolio is being developed while we have generally higher energy costs. If you would try to assess a little on the level of overruns and overruns in the future, the counteracting effect of the energy price being higher while the efficiencies are breaking through, Do you still believe that the surplus can be strengthened in the future? Or does this mean more than that this is a level that one should expect in the future compared to what we see in the recognition capacity?

Our goal is to continue to make the property more efficient in a way that makes the surplus stronger in the future. And there are several things that are the basis for that. Partly, as you mentioned, energy efficiency. We have a long-term goal of reducing energy consumption by 45% by 2030 compared to the 2021 level, and we have come about halfway there. Then something else that also contributes strongly to improved efficiency is our value-creating apartment upgrades. And there we have the potential to upgrade about 1,500 apartments, which both strengthens income and lowers our property costs. And then when we get started with the new production, we will add a successively larger proportion of the property portfolio where we have income coming from newly produced properties, which then have a significantly higher rate of surplus. So this in turn means that we believe in increasing the rate of surplus by about one percentage per year.

Tack och sen tänkte jag fråga lite kring planen för det nya Givet med Beskabb. Om jag förstått det rätt så tror ni att ni kan starta Ekporten under nästa år. Hur ser det ut med de andra bostäderna som finns i Givet? Kommer man att kunna starta allting under 27 eller hur ser planarbetet ut för starta kommande år i Givet?

As it looks now, it includes two projects, and the airport, as you say, is the ambition that we will start in 2027, and then it is the second quarter that we aim for. Then, when it comes to the Coal Trust project, which is the second project, that is, what is in Solna, så ligger ju det tidigare i detaljplan i skedet, vilket gör att vi bedömer projekt eller produktionsstartar som tidigast 2029.

Okej, tack så mycket. Och då hade jag egentligen bara två frågor, eller ja, det kanske blir några till, men den här utdelningen från Turaco, Do you expect it to be approved in Q2, given that the vote approves it? And will it be a one-off effect in the financial net?

That's the first question. Yes, exactly. It will end up in the financial net, since Turaka is a financial access for us. We have such a small share. Om de tar beslut idag, det stämmer idag, då kommer det komma in som en utdelning i Q2 helt enkelt. Det står rakt in i resultatet för oss i Q2.

23 miljoner in om allt går som det är tänkt. Då tänkte jag fråga lite, det är naturligtvis ett trevligt tillskott. Hur ser ni på det tillskottet? Vad har ni tänkt att använda dem? pengarna till kan ni tänka er att man kan använda det för till exempel aktieåterköp eller vad är planen för den utdelningen så att säga?

Nej men det kommer ju bli, vi har inte specifikt allokerat vad de här medlen ska användas till men när det kommer till frågan om återköp så har vi ju ett befintligt mandat som har sträckt sig fram till årsstämman som är idag för Jörn Mattsson. The board has proposed a renewed mandate for the coming year. It is likely that we will continue to do resale. But then we have this big investment portfolio that we talked about earlier. It is a combination of energy optimizations, root projects and also new production that Connected Market Capital will use.

Okej, tack. Den avslutande frågan är kanske lite mer av en detaljfråga. Men jag noterade att ni inte redovisade någon aktuell skatt i Q1. Är det här på grund av att det i slutändan är en bedömning ni gör för året? Eller är det någonting särskilt som gör att det ser ut så just nu?

Nej, när vi gjorde skatteberäkningen för Q1 så hade vi med del av slutet. i några etapper i Rotebro-projektet som ger ganska höga skattemässiga avskrivningar. Så då blev det så att den aktuella skatten blev noll då eller liksom under noll om man säger så. Men det kommer inte återkomma exakt så varje kvartal och min bedömning är väl att på årsbasis så är en aktuell skatt som är något lägre än det vi har på rullande 12 månader bakåt, ungefär det som motsvarar en års As a reminder, if you wish to ask a question, please dial star 5 on your telephone keypad.

The next question comes from Albin Sandberg from SB1 Markets. Please go ahead.

Ja hej. Följer du upp på den här Toraco-utdelningen, ska vi bara kunna hjälpa, vad är det som är något speciellt som händer just i år eller finns det anledning att tro att 23 miljoner kommer att återkomma när den 27-28?

Man ska inte se det som en återkommande utdelning, för bakgrunden till den här utdelningen är ju att Turaco's business is the development and administration of school facilities. This division is responsible for the dismantling of the administrative system and has then sold it off during the course of the year. So it is not a recurring annual division. Then, if Turaco would consider Längere fram i tiden att det finns ytterligare pengar kvar från den här försäljningen som går att utdela. Det är ingenting vi har någon information om idag utan det som vi har det är den här utdelningen. Och att det är den här engångshändelsen inom bolaget som ligger till.

Bra. Jättetydligt. Tack för det. Och sen tänkte jag i de här 170 The two million that are provided as rent income for Q1, is all indexing for the year more in demand, or is there a lag effect?

We have a small lag effect, you could say, and that has to do with the fact that all homes have had a rent adjustment at the beginning of the quarter. Did you mention the salary now?

Yes, that was the key question, but I would like to add that it is also in the recognition capacity.

If you look at the result, there are some properties, those with presumption rents, then that rent adjustment occurred a little later than January 1st, where many of the commercial rents were adjusted, which means that there will be a marginal adjustment upwards in rent income from housing during the second quarter compared to the first quarter. Men i stort sett kan man säga att vi har justering på bostäderna.

Och som du nämnde, är den hänsyn tagen där? Den är relativt ren?

Ja, det är hyren av utgången av perioden. Så där ska all justering finnas med.

Jättefint. Ni har gjort massor med försäljningar på lite kanske äldre hus, sålt till bostadsrättsföreningar och så vidare. Skulle ni kunna hjälpa till? Vad är den totala volympotentialen av det som ni ser? Är det materiellt eller har ni sålt det som går att sälja nu så att säga?

There is still potential, and what we focus on when it comes to re-education is to re-educate properties where we do not see any continued potential for value development. They are not optimal from a management perspective. They are a bit like solitaires and can also have a lower energy performance where we do not see that we can profitably lift the energy performance. As a reminder, if you wish to ask a question,

please dial star 5 on your telephone keypad. There are no more questions at this time, so I hand the conference back to the speakers for any closing comments.

Då får vi avsluta med att tacka för ert deltagande idag och hälsa er åter välkomna den 10 juli när vi kommer att presentera vår rapport för det andra kvartalet.

Tack för idag!

Welcome to the conference call. 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 five on their telephone keypad. Now I will hand the conference over to the speakers. Please go ahead.