Platzer Fastigheter Holding AB (publ)

Tack så mycket och varmt välkomna till 2025 års bokslutskommuniqué. Jakob och jag kommer växeldra den här presentationen idag och idag har vi också en liten ny kostym med ett nytt utseende hos oss på platser, även om vi är samma plats som förut. Vi börjar litegrann här och tittar på det här året som har varit. Det har preglats av ett intensivt arbete med uthyrning och med omförhandlingar. Vi ser också att våra två segment samverkar väldigt väl. Det är logiskt i en industri- och kunskapsstad som Göteborg hur våra segment samspelar. Industrilogistik har haft en marknad som har haft en god efterfrågan medans kontorsmarknaden har haft det lite mer tufft. Våra marknadsvakanser har gått upp under året som har varit. Det är vår största utmaning men också vår största möjlighet. Vi arbetar väldigt målfokuserat med våra kunder, med våra vakanser och att hålla takt under vår uthyrning. Vi känner också att marknaden kom igång lite bättre här mot slutet av året och vi gjorde flera stora uthyrningar och faktiskt dubbelt så många omförhandlingar i år. än förra året innan vilket är ett stort jobb av förvaltningen. Vi landade det sista kvartalet här i en positiv nettutgivning och jag kommer att gå in lite grann på och djupdyka detta lite senare. Vår nyligen inköpta fastighet Mimo, som vi ser här på bilden, har arbetat jättefint för oss i år. Det ger oss en extra skjuts i tillväxten. Vi har haft ett högt affärstempo, både när det gäller transaktioner på både köp- och säljsidan, men också, såklart, med arbetet med våra finanser och vår finansfunktion. Vi har fått en bättre hävstång, vi har förflyttat vårt portfölj, vi har stärkt vår finansiella position och skapat oss bättre förutsättningar för att göra fler affärer. Despite this year, which has been characterized by fraud and insecurity, we can still deliver a strong administrative result of 11% this year, and I am pleased with that. This delivery from the industrial logistics segment is excellent. It has been our drawback. Many nice project starts, transactions and nice announcements. And it is a business that we want to continue to grow even forward. Tittar vi på kvartalet om de större händelser som har skett så har vi gjort en fin kontorsutvinning, faktiskt årets största kontorsutvinning i befintligt bestånd till SHT i Arendal här. Vi har också tillprätt Tuve som är den fastighet som vi kontakterade här i somras. Det är en industrifasthet på Hisingen och vi har projektstartat och hytt ut till Arendal Port View, den första etappen av den här udden som vi bygger. Vi har också fått bygglov här under kvartalet. Here we can see where Örendal Portview is located. It is located in the middle of the largest port in Scandinavia, Göteborgs hamn. And we can also see where Stena Lines future color areas will be located. It will give a nice shot here in this area as such. Here we have a potential for development of about 70,000 square meters, which is in the relevant detailed plan. So here we can continue to deepen. If we look at the summary of the year, we increased both revenue and turnover by 5%. The administrative result, as I mentioned, by 11%. As I said, this is a strong result given the environment we are in. The net output for the whole year fell to minus 14%. If we then look at the individual quarter, the growth goes down somewhat in the administrative results. This is expected and the growth is driven by the acquisition of MIMO and ITUVE, together of course with an improved financial net and completed projects. We will break down a little more in this in Jacob's presentation later. What happened after the end of the quarter? We put a nice view here in Gamlestaden, in Möllike Healthcare's old premises in Turritshuset. And there we have a move in December this year, 3,300 square meters, an eight-year rental contract and 73 million in rental value. Idag har vi också gått ut med en pressrelease på den avsiktsförklaring som vi har tecknat med Göteborgs stad om en central byggrätt, byte mot mark i södra engården. Det område i staden som vi har varit stadsutvecklare i flera år. Där har staden ett strategiskt behov utav olika typer av bostäder, skolor och så vidare. Vi har hittat ett sätt att till en möjlig framtida markanvisning här precis intill centralstationen i Göteborg. Det är vi väldigt glada för. Det visar också på vår förmåga att agera som stadsutvecklare i den här stan. Jag lovade att vi skulle bryta lite mer i nätutsynningen. If we look at the quarter, we have done business in both segments. We got started a little better, we hit 15 million plus here in the quarter. We have had a rental development in the negotiations we have done at 4% up. That's a good conclusion. And as I mentioned, we have also done a lot of negotiations throughout the year. But we have also made the strongest renewal in the existing stock since 2023. If we look at the whole year, we have had a rent development in the negotiations that is at minus 2%. The reason, if you remember, is the big negotiation that we did with Folktandvården on Medicinaberg. It was 15,500 square meters that we negotiated here last quarter. We extended the contract with six and a half years and in exchange we had to put in a rent discount and it was periodized and passed through the rent development for the entire year on the portfolio. Industry and logistics have been a very strong draw during the year. Speed, Arendal Portview, as I just mentioned, have been the big businesses. But if we also look at the office segment, we have had a negative development on Nordea, which decided to move away from us. But we have also signed SHT, the IT company in Arendal, and done quite a lot of business in MIMO. I want to stay with MIMO for a while. Det här är ju en ganska stor pjäs och vi har nu då släppt de här garantihyrorna som vi hade med oss in i köpet. Det gör att vår uthyrningsgrad påverkas med en hel procentenhet till följd av MIMO. De garantihyror som släppte ifrån köpet har legat faktiskt på en lägre nivå än de nya uthyrningar som vi har gjort. Så vi har lyckats hålla intäkterna on a good level in what we have drawn ourselves. We also have a retention rate, which is an expression of how well we manage to keep our customers in our negotiations, and we are at 85%, which I think is really nice in this tough competition that we have on the office market above all. Jag skulle också faktiskt vilja gå in på hur vi jobbar med våra vakanser och med vårt kundfokus. Det gör vi ju på lite olika sätt såklart, men några konkreta arbetssätt för att hålla ett högt tempo och ett högt affärsdriv i våra affärer är att vi har We have a multi-functional meeting forum throughout the company, from me to the CEO and all the way out to the customer, which makes it possible to make decisions quickly. It is a way of working that we have implemented over the years. We have launched here and now concepts, which means that we can quickly get cash flows in ready-made premises. Vårt koncept SIV, alltså självklar inredningsval, som är väldigt färdigpaketerade och tydliga koncept runt hur vi hyresgästen passar, vilket också gör att vi klarar av att hålla ner klimatavtrycket, vilket Jacob kommer att berätta lite mer om senare. Våra tio största kunder reflekterar hur Göteborgsmarknaden ser ut som helhet. Det är en blandning av hotell, industriaktörer, kontor, myndigheter. Det speglar faktiskt väldigt mycket om hur hela Göteborg ser ut. Det gör också att vi får en resiliens och en bredd i vår hyresgästbas- And it is worth mentioning that 65% of the transactions with tenants that have taken place over the years have actually been within the public sector. Let's take a look at the office market. We have a 13% vacancy rate in Gothenburg today. It is a 1% increase since last year at this time. Houses are stable. I have shown this picture a few times before, but we can see the effect of the vacancies. It comes from the large number of locations that came here in 2021, 2022 and 2023. Och det påverkar marknaden. Det kommer ta några år innan den går ner. Man brukar säga att ungefär en halv procent någonstans brukar marknaden i normalkonjunktur klara av och reglera. Så att vi har nog lite höga vakansen här ett tag till, men vi har heller inga nya projektstarter här under året på totalen. What drives growth is, of course, how the conjecture moves. This is the latest conjecture indicator in Gothenburg. We are now at a normal conjecture curve, a normal level of 100. And if you look at the types of drivers in this conjecture indicator, it is housing and trade. It has gone up 10 units since the last measurement, so we feel that the household really drives this conjecture. It has previously been very export driven in Gothenburg, but now it is the household. and the trade that drives. We see that the service sector is also up on a neutral, normal level. The parts that have it tougher are first and foremost the construction industry, which is low and the manufacturing industry has not really recovered yet. But I still want to mention exports, because we are an export-intensive region, the hub in Sweden for exports. And what I find interesting when looking at this graph is that exports, despite all this chaos that has been going on in the past year, have actually gone well. Den har varit mycket starkare än vad man kanske får intrycket av. 10 % av exporten går till USA. 70 % går till Europa. Nu har vi lite nya avtal med Indien, Mercosur och så vidare som kanske gör att vi skiftar om lite mer på vart vi exporterar. The vehicle industry that we have in Gothenburg has a big transformation to do, and is doing so, I would say. The confidence indicator looks stronger now than it did a year and a half ago. And that's still something to look forward to, even if we understand that it's a big transformation to go through. Our business life in Gothenburg is driven by innovation and an incredible breadth in business life. We have We have an investment of around 60 billion SEK. That is the highest in Sweden. One of the reasons is the focus on science and engineering that this region has. Every tenth person is a civil engineer. That is the most common force in Gothenburg. Vi har också en kraftexpansion som är kopplat till försvarsindustrin såklart. Det är ju ändå lite coolt att att vi klarar av att utveckla och producera och bygga en sådan här bil som i X60 som precis är släppt på marknaden. Så ser innovation och bredden i näringslivet ut idag. Det är väldigt roligt att se. Tittar vi på arbetslösheten så har den gått ner något. Den ligger på 6,3, fortsatt lägst i landet. Med de orden tänker jag att vi tar oss ifrån helikopterperspektivet och in i siffrorna. Jag ska lämna över till Jacob.

Thank you. Let's look at the figures for the quarter and our funding. As Johanna said, we continue to deliver a good growth in our administrative results. During the quarter, a growth of 5% and a total of 11% throughout the year. If we look at our rent revenues during the first quarter, they are somewhat lower than they were in quarter 4 of 2024. There are two things that cause this. One is changes in our portfolio, where we have some higher vacancies, which affects the revenues, but also under, if we look at quarter four previous year, there were high additional invoices during that year. So there was high revenue during that quarter. The joy is that we continue to maintain our costs in a very good way, so that we can continue to show an increase in turnover, now at 1% in the quarter. And as I said, an increase in the administrative result of 5%. Let's go down to the middle row and look at our real estate values and our investments. We have stable real estate values during the quarter. We have increased them somewhat, 107 million kronor in unrealized value change. It is driven most by, we have come back to that, but it is driven most by cash flow change and the total is roughly 30 billion in our real estate portfolio today. Net investment during the quarter was 285 million. Includes a contribution we had during the quarter in Östergärdets Head, an industrial property of 167 million kronor and the remaining part is then available to the state. If we look at the whole year of our net investment, we have worked during this year to look at our capital structure after the big intake we had Q4 2024 with the property Mimo in Mandal. So throughout the year we have a negative net investment of minus 148, that is, we have sold more than what we have bought in total during the year. And of course, that has affected our financial incentives that have been strengthened throughout the year. We are now at an interest rate of 2.5. Våran nett- och räntebärande skuld genom rörelseresultatet ligger nu på 11, registrerat på hela året och under kvartalet. Och våran belåningsgrad har sänkts under året till 47% om vi räknar den på totala tillgångar. Och räknar vi den på våra fastigheter så är den nu på 49%. So, to sum up, we have continued to have good growth, if not at a slightly lower pace than expected. We have stable real estate values and also stable financial key figures that have improved over the years. I'm going to look a little more at our revenues during the quarter, and I'm going to start with the income capacity that we present in our reports. And the income, if you look at our Q3-rapport, så redovisar ju där vår intjäning framåt och det är baserat på en ögonblicksbild på ställningen 1 oktober och vi tittar på vad gäller intäktssidan då, vad vi har för hyresavtal, vad är det vi aviserar då första dagen. Sen under kvartalet händer det ju A number of things that are not caught up in that momentary picture. For example, we have periodized rental deposits or other deposits that can come during the quarter. We also have short revenues that can come during the quarter. And if we look at this quarter, the fourth quarter, This indicated our recognition capacity at the moment, an income of 423 million SEK under Q4. Then we have had periodized rents during the quarter at 6 million SEK. Then, as I mentioned, we also contributed to a property under the quarter, and that has also contributed to the income we have been able to calculate after the acquisition. And then we have other revenues that have come under the quarter at 7 million SEK. which is a mixture of insurance payments, short-term parking, conference income, and so on, which is summed up to SEK 7 million. And that ends up to our SEK 438 million in the quarter. And these add-ons are summed up to about SEK 15 million, and it's about the same level as we had in Q3. Let's take a look at the reason for the development we've had in the quarter and look at it divided into our three so-called legs, with our comparable stock, our project and project development, as well as our transaction legs. And when we look at the rental income, we reduce our income compared to Q4 2024, both in comparable stock and in project. And as I said earlier, high additional revenues in the comparison quarter, but also affected by the lower rate of rent we currently have. Among other things, we had a large outflow in the summer on Männliche Healthcare. In the summer, we are happy that we have made a share of those rents. We released the other day that we have made a share of the rents. already. What drives the housing income on the plus side is the transaction and the mentioned MIMO property above all, but also the latest estimate of 20. So we ended up with 438 million SEK in the quarter, which is a reduction of 1% on the quarterly basis, but plus when we look at the whole year, we have increased our housing income by 5%. As I said, we are happy that we still keep our focus on costs very good and reduce our costs in the comparable stock during the quarter by 8 million. There are several reasons for this decrease in different positions. It is media costs, among other things, we have a refunded property tax, lower maintenance costs and so on. So there are several different things. Projekt och Transaktion, plus minus noll och vi landar då på en sänkning av avkostnader till 95 miljoner under kvartalet. Och faktiskt tittar man på jämförbart bestånd så har vi på helåret faktiskt sänkt våra kostnader också. The turnover is where the comparable stock and part of the project has a minus 2% growth, while the transaction base gets a 5% increase and a total of 1% for the quarter and plus 5% for the whole year. And as I said, we have a large cost focus, just as we have a large focus on our revenue and our turnover, Johanna talked about. There is a lot of work behind this, but in this market, it is a necessity to be around each other. I think it is a big advantage for the entire business. I think the percentage we show this year, at 79%, is a very good proof that it gives results. It is one of the higher percentage we have had. Några ord om fastighetsvärderingen och hur den har utvecklats under kvartalet. Som varje kvartal har vi gjort interna värderingar av alla våra fastigheter. Under det här kvartalet har vi gjort externa värderingar på 60 % av vår portfölj. Jämför man de fastigheter vi har externa värderat med våra interna värderingar så överstiger våra interna värderingar de externa med 1,4 %. Förra året var det 1,7 %. I said earlier that the unrealized value change that we are reducing during the quarter is driven by cash flow change. And as you can see down here, we had a yield last quarter at 5.08. It's a little higher than 5.09, but it actually depends on the property we have taken in. It is on a higher requirement than the portfolio in general. So compared to our stock, the yield is unchanged. We have invested 118 million in existing stock during the quarter, 167 in acquisitions, no sales, and as I said, an unrealized value change of 107, which is cash flow driven. And if we look at our financing, we have worked a lot with our financing and financing structure during the year. We feel that we have a strong support from our banks and the bank relations we have that want to grow with us. We have also been a strong capital market here, not least during the second half of the year. Under kvartalet har vi också varit aktiva genom att emittera en obligation, en femåring på 300 miljoner till bra nivåer. På banksidan har vi varit väldigt aktiva vad gäller refinansiering och refinansierat 2,4 miljarder i banklån. Resultatet av det här har blivit att vi Minus our starting average income, which is now at 3.45, including the promises, and that is eight points lower than the previous quarter's exit. But it has also meant that we have extended our capital or credit dropout structure to 2.7 years. Last quarter, it was 2.2 years, so a pretty good shift there. So in the table, or in the diagram, down to the right, you can see that now there is 22% on the first coming 12 months in dropout. Last quarter, the figure was 35%, so we have moved further out to the right in the credit dropout structure. If we look at our interest rates, we have not made any new derivatives during the quarter. On the other hand, we had 500 million that fell, and the interest rate time has decreased from 3 years, 3 years ago we were in the quarter end, to 2.8. All in all, we have improved our credit-related keys during the year. We have also increased the flexibility in our financing, and that, together with the strong growth in the cash flow and the stable real estate market, makes it a completely different opportunity to be able to work with our capital and seize opportunities. The loan rate is at a reassuring level, we think, where we want to be, will continue to have opportunities and want to be active in the transaction market in the future. And that can be both on the purchase and sales side in order to optimize the portfolio as much as possible. Growth. Platsa has a long history of growth. Since the fiscal year 2013, So if we look at the blue line, it is the administration result that has grown by 13% on average since the stock market. The bottom line, and this is per share. Under the line is the share history of growth per share, which is 12%. And not only here, but also if we look at the substance value growth, it has been very good, actually with an average of 15% over this period since the notation. And this is what we are working on. Johanna also talked about it, that we are working on continuing this growth forward, and we are doing it in our three tre olika ben, med förvaltning, med projekt och projektutveckling och med våra transaktioner. Platseraktien. Under kvartalet så utnyttjades styrelsen det bemyndigandet som man hade från föregående årsdämma om återköpet av aktier till ett belopp upp till 100 miljoner kronor. Man gjorde det i syfte att Both to increase the value of the shares and to make sure that we are satisfied with the incentive programs that exist. So far, until the change of year, we have repurchased the share at a value of about 40 million kronor. Styrelsens utdelningsförslag till stämman är 2,20 kronor per aktie att delas ut vid två tillfällen under 2026 och föregående års 2025 var 2,10 kronor per aktie. Så en ökning jämfört med föregående år. Hållbar anställning. Vår hållbar omställning fortsätter och är integrerad i vår affärsverksamhet och i vår organisation. Väldigt kul att se fortsatt hur vi förbättrar vår energiprestanda. Vi förbättrar den med 4% under det gångna året, vilket är över det målet vi har satt på 3%. And if you look at the history again from 2013, we have reduced our energy consumption by 40%, which is incredibly good, I think. And this is good for the environment, it is good for our customers and it is good for our results at the end of the day. Johanna mentioned, of course, the selection of facilities. And that's part of the focus we have now, on reducing our climate emissions. And our biggest indirect climate emissions are in our renovations, that we have, and our climate change adjustments. And this is a way how we can systematically measure, we measure all our climate change adjustments, what climate impact we have, but also to control to reuse, or not reuse, choose the right materials, which reduces our climate emissions. Hållbar finansiering, vi har 73 % hållbar finansiering i dagsläget. För ett år sen var den 6 %-enheter lägre. Det har vi ökat under året. Johanna.

Tack, Jakob. Några avslutande ord. Vårt fokus på tillväxt, som sagt var utgivning, vakanser, kund och det arbete som drivs på ett otroligt fint sätt i vår förvaltning. Vi har stora möjligheter att förstå våra kunder eftersom vi agerar på en väldigt specifik marknad i Göteborg. We will continue to keep the pace in both portfolio rotation to increase the return and for it to be adapted to what we are best at. So we will be both buyers and sellers and also continue. We will continue to keep the project going within industrial logistics. We have grown with 150,000 square meters since we bought the land from Volvo here ten years ago. Energy efficiency works well for both the environment and our results, as Jacob said, and also, of course, ensures the opportunities for our future growth. Vi arbetar intensivt med flera spännande affärsmöjligheter som vi hoppas kunna ge hävstång här på sikt. Vi har en lokal och gedigen marknadskunskap, vi har en stark drivkraft och ett tempo i organisationen och vi har en starkt affärsmannaskap även i ledningen där Anders, vår nya affärsområdeschef för kontor precis också har startat hos oss här. Vi har muskler nu att agera och vi har potential att växla upp. Den avsiktsförklaring som vi tecknade här idag är väl ett bra exempel på detta, eller hur Jakob?