Nivika Fastigheter AB (publ)

Hej och välkomna till dagens webcast med Nevika Fastigheter. Det var med oss vd Sverker Källegården och CFO Daniel Karlsson som kommer att presentera Q1-rapporten för 2026. Vi kommer att börja med en presentation följt av en Q&A. Så om ni ringer in och önskar ställa frågor så gör ni det genom att trycka stjärna 9, fräcka upp er hand och stjärna 6 för att slå på den i mikrofonen när du får ordet. Och det går även bra ska vi fråga via formulär till höger om sändningen. Och med det släpper vi ordet till er. Varsågoda!

Tack för det Martin. Återigen varmt välkomna till Nivikas Q1-presentation där vi har vårt första kvartal i våra nya segment och vårt nya både utseende layout-mässigt och innehållsmässigt lite grann i rapporten. Vi som pratar, det är Sverker Källgården, vd för bolaget och bredvid mig står Daniel Karlsson, bolaget CET. To start with, briefly about Nivica. We work according to three principles. We want to be long-term, local and profitable. We are a small-scale real estate company that believes in local anchoring and closeness to our customers. We have an increase and are investing in growing through the acquisition of high-end properties with the West Swedish triangle. As you can see in this picture, it is made up of E4, Riksväg 40 and E6. and then surrounds the Gnosjö region, which is the epicenter of the Swedish light industry. We are in a phase of growth. We do not focus so much on real estate value, but what we are looking for is growth in administrative results and cash flows per share. We have reorganized at the end of last year and are in full swing with it now. If you look at the circle diagram in the middle, we now have three new segments, commercial housing and real estate development, and it also follows our new organization where we have the business areas. The commercial stands for 58% of the real estate value, the housing for 36% and the real estate development for 5%. In total, we have a real estate value of 13.9 billion, a contract value of 885 million, 246 properties divided into De uthyrar till 96 procent och vi har knapp 730 000 kvadrat att hyra ut. Tittar vi på den långsiktiga tillväxten så har vi växt fastighetsvärdet stadigt genom åren. Vi ligger på en nettobelåningsgrad om 52 procent, väl inom spannet om 55 procent som vi har i vår finanspolicy. Substance value has also increased, and we have had an average annual growth of 15% in substance value. Expenditure has also grown, and so has the rental revenues, and we are now steadily at a rolling 12 on a growth rate of 73%. If we look at our segments and business areas, our largest business area is commercial. There we have a property value of 8.1 billion. We have a rent value of almost 600 million. We have a rent rate of 95%. We have almost 550,000 rents per area, divided by 162 properties. The commercial properties are mainly warehouse and light industry. 57% of the rent value in the business area is warehouse and light industry. The rest is distributed to offices, social facilities, retail and hotel-restaurants. During the quarter, we have acquired nine properties for over 290 million SEK and they give 24 million SEK in rental value. We have again a positive net rental, but relatively modest at 0.1 million SEK. If you look at the diagram to the right, it is only Q4 2024 that have had a negative net rental, so we are very proud of our work. We have an average valuation of 6.7%, an average remaining rental period of 5.5 years. We see a good demand in our premises and have continued to have very nice acquisition opportunities. I affärsområdet kommersiellt ligger också mitt lager som är vårt egna self-storage verksamhet och varumärke. Det är Sveriges femte största self-storage-bolag med 18 anläggningar och ungefär 4 000 förråd. Gå vidare till affärsområdet bostad. Det här är nu ett affärsområde som innehåller våra bostadsfastigheter. De kan också ha ett visst inslag av kommersiella lokaler, framförallt i bottenvåningen. If you look at it, the housing stands for 83% of the area, 87% of the rent value for the business area, and the rest is commercial locations. The property value is 5.1 billion, the rent value 329 million. The total development rate for the business area is 97%, while the housing stands for 98% of them. We have 183,000 square meters of development area and 73 properties. Vi har 2800 lägenheter. Hälften av dem har vi byggt själva och de är väldigt gröna. Genomsnittlig värderingsgild är 4,5%. Vi ser fortsatt god efterfrågan på bostäder och vi har 98% utgivningsgrad på bostäderna. I vårt affärsområde har vi också 500 studentlägenheter. De vet vi att det är en ganska stor säsongsvariation på. So, don't worry if the education level drops during Q2, because it's completely normal for students to move out and then come back in the fall. We move on to the third business area, our business area for real estate development, and this is where we have our project activity. Soväl nyproduktion som större ombyggnationer eller lokalanpassningar och också våra energioptimeringsprojekt. Vi har nystartat tre projekt under perioden. Vi har en serviceanläggning för tungtrafik i Stigamot södra Mjölnköping med hyresvärde på 2,4 miljoner. Vi bygger till på Breda Sten i Värnamo och DSMIT Packaging. De ska utöka sina ytor med knappast 3000 kvadrat och det kommer ge oss ett hyresvärde på 2,5 miljoner. Och så gör vi en ombyggnation i Jönköping åt Gemofix och Lekia där vi köpte en fastighet och har hyrt ut den nu till Gemofix och Lekia. And that will give us a rent value of 3.4 million. If we sum up our buildings, it adds up to 55 million in rent value and over 30,000 square feet of space. We have a estimated investment of 707 million, each of which 500 million is already down. Sustainability has been the focus since Nelika started in the year 2000. Most of our properties have solar cells and electricity charging. If we look at the stock exchange, we are placed in the top 10 among all listed real estate companies considering the production of solar energy in absolute numbers. If you look at that in relation to how big your portfolio is, we are on the price range. We have an average energy consumption of 83.5 kilowatt hours per square meter of heated surface and 47% of our real estate portfolio is green according to our green framework. I'll hand it over to Daniel for the figures.

Thank you. The first quarter of 2026 was a quarter that was marked by continued growth, mainly driven by acquisitions. Our revenues rose by 16% year-over-year to 220 million. and a net of 14% to 146 million. This corresponds to an excess rate of 66%, down from 68% in the corresponding quarter of 2025. This decline is the result of a cold and snowy first quarter that has affected our media costs. In that sense, we have the opportunity to compensate for these increased costs caused by the climate. We have not received full compensation for this either, since we have a delay in our further debiting. We are also debiting in the preliminary. Our tenants are based on the loss from previous years. So we will get paid for these increased costs, but it will come later. The excess rate over the last 12 months fell to 73%. Our CEA is unchanged compared to Q1 2025, despite a significantly larger stock. Vårt finansnetto ökade med 11% och det är drivet av högre skuld som ett resultat av vår tillväxt. Men däremot delvis kompenserat av en lägre ränta. Förvaltningsresultatet växte med 20% år över år till 62 miljoner kronor. Vi hade även positiva orealiserade värdeförändringar på fastigheter om 72 miljoner kronor. Det här är i huvudsak drivet av kassaflödesförändringar. Vår genomsnittliga värderingsgider oförändrad jämfört föregående kvartal. Den här värdeförändringen motsvarar ungefär en halv procent av portföljens värde. Vi hade även positiva värdeförändringar på räntederivat och det är ju i sin helhet drivet av högre marknadsräntor till följd av den ökade geopolitiska oron under slutet av kvartalet. After the tax, we sum it up to a total result of 124 million kronor, which is equivalent to 1 krona and 30 öre per share, which can be compared to 59 öre per share for Q1 2025. In the 12th round, we reach a total result per share of 3 kronor and 37 öre. Under the quarter, we invested over SEK 400 million, mainly through the acquisition of high-end properties, but also new buildings and projects in existing portfolios. As Sverker mentioned, the value of the property portfolio rose to a total of SEK 13.9 billion at the beginning of the quarter. If we then look at our financial and operational goals that we communicate, we have them in the lower right part of the screen. If we start with the average spending on our own capital over the last five years, we reach 7% and continue to work towards our 12% goal. Energianvändningen då som kilowattimmar per kvadratmeter A-temp uppgick som Sverker nämnde till 83,5 vilket var en nedgång år över år men däremot en uppgång med 2% jämfört med vårt basår som är 2025 och den här uppgången är drivet av ett kallt första kvartal och tillkommande fastigheter. The remaining four targets are in line with or exceeding our targets. 26% growth in administrative results per share over a period of 12 months compared to our target of 15%. We are at a loan rate of 52% compared to our limitation of 55% and we have a rent rate of 2.0%. which is in line with our goal. And finally, the rate of rental for commercial housing at 95, respectively 98 percent, also well above our goals. We are very pleased with the quarter, especially the growth in rental revenues and management results. At the same time, there is a constant focus in the business on the optimization of operations, growth in acquisitions and, in general, cost focus. Vi kommunicerar en aktuell intjäningsförmåga per den 1 april 2026 på hyresintäkter 885 miljoner och ett förvaltningsresultat på 318 miljoner vilket ger ett förvaltningsresultat per aktie på 3 kronor och 32 öre. Short about financing. I can start by saying that we still see a very good climate. The interest in financing our business is high and we have successively lower credit margins when we negotiate our credit statements. We had an interest-bearing debt at the beginning of the quarter of almost SEK 7.5 billion, which corresponds to a net loan rate of 52%. It consists mainly of traditional bank loans, but we also have two existing green non-secured bonds, each of which is SEK 400 million, and they fall in 2028, respectively 2029, to a smaller shareholder in Berserk. Forty-two percent of our debt is green, which is a significant increase compared to the first quarter of 2025. This includes our two outstanding green bonds, but also about a third of our total bank loans. After the period began, we also indicated that we had entered our first sustainability-linked loan, and we now have the intention to discuss this with our other banks and continue in those processes. We handle our interest rates primarily with interest derivatives, but also a small amount of fixed interest loans. 63% of our total debt was insured at the beginning of the quarter, with an average duration of 2.5 years. Our average interest rate at the beginning of the period was up to 4.2%. Det var en uppgång med 0,1 procent jämfört årsskiftet 2025-2026 och den är då i sin helhet förklarad av stigande stiboräntor som en effekt av den geopolitiska oron. Vi hade en tillgänglig likviditet på 669 miljoner, dels kassa på knapp 200 miljoner men därtill revalverande kreditfaciliteter, checkkrediter och outnyttjade byggnadskreditiv med våra banker. Vårt egna kapital uppgick till 5,9 miljarder vilket motsvarar en soliditet på 41%. Och tittar vi sedan på det långsiktiga substansvärdet så uppgick det till 6,7 miljarder eller 69 kronor och 60 öre per aktie vilket var en uppgång med 1 krona och 30 öre kvartal över kvartal och ser vi till år över år så är det en ökning med 6%. Finally, briefly about our shareholder. We have two types of shares, an A share and a B share. The B share is listed and traded on the stock exchange. We had a share purchase program that went into effect here at the beginning of Q1 and we repurchased shares during the first quarter of 8 million and had more than one million of our own shares in content at the beginning of the quarter. I would also like to mention that our board, in connection with our book conclusion communiqué, proposed a division of 72 euros per share to Stämman, which will start on May 20. And that corresponds to a direct discount of 1.7-1.8% depending on the current share price. So that seems to be it. forward as well?