Samhällsbyggnadsbolaget i Norden AB (publ)

Good morning everyone and a warm welcome to our Q3 presentation. Here with me this morning I have our CEO Leif Synnes who will present the Q3 result and also give you a strategy update. And Daniel Tellberg our finance director will answer questions on the reports and run through the numbers. After the session, we will host a live Q&A session and please prepare your questions and we will be ready to take them after the presentation. With that said, I will hand over to Leif.

Thank you, Helena. SPV is four segments, community, residential, education and development. In total, the property exposure is 94%. billion and the assets have low downside risk. Instead, there is a potential for higher revenues and also for more investments. We are creating efficient and focused platform and we have a very good market position. If you look on the highlights for the period, The property exposure increases to 94 billion, which is good. And that is mainly through the subsidiary CFA Steter and the associate companies Nordicus and PPI. We see a good development in rental income plus 1.6% and also a growth in net operating income plus 2.9%. And we're happy to see that we are reducing the costs. So the central admin cost is down 22%. And we think that the central admin costs have potential to further decrease in the upcoming quarters. We have an increased activity in leasing. and we start to sign new leases. And one lease that we have signed is with the city of Stockholm for a 15 years lease. And I think we will be able to announce more of these new leases to the market within short. We continue to develop our brand names in the SVB group and we are benefiting from the stronger and stronger ability to raise capital in those entities and it's good that Nordicus, Public Property Invest and Svea Fastigheter all have investment grade ratings. If you take a closer look on the community sector, it's 40 billion of assets and 50 percent of that it is consolidated and the rest is through joint ventures and associated companies where one big associated company is public property invest in the segment elder care is the largest sub-sector If we move on over to residentials and the proper exposure is close to 30 billion and Sveafastheten is the core assets in the sector and our part of that company is they have a property value of close to 19 billion and Sveafastheten was listed on Nasdaq First North and also upgraded to the Stockholm main list in June this year and have also received an investment grade rating from Fitch. We believe that CFA Städte will be able to show high growth in revenues and also lower costs. It's a large vehicle And I think it will be more effective than the market as a whole. And in the upcoming years, we will be able to show it. That is my expectation. Education. The core assets for us in education is Nordicus. And our part of that is we have a proper exposure of 20 billion. In total, the company has assets for 40 billion, so we hold close to 50% of the shares in Nordicus, a company that we co-own with Brookfield. We see a strong development in Nordicus, rental growth, net operating income growth, and also an ability to act on the transaction market for properties and grow. So we believe that Nordicus will be a growing companies with higher and higher dividend stream to SBB. We have moved some properties with great potential into a subsegment called development, where we have put increased focus on leasing activities and also investment activities. we are in the final time to sign new leases in development for the properties here and I also think that we were able to announce to the market positive development of the assets in sign of lower vacancy and higher net operating income and a positive revaluation through higher rental income and lower vacancy. And now very positive to the development in this sector at the moment. We limit the segment to 10% of the company balance sheet and we have a minimum return of equity of 15% for all the investments we have in development. I believe that we are in a good shape when it comes to the strategy. We have a done a lot and the rest of the plan we have in strategy, we will be able to work in tailwind. The market is strong enough and it's easier for us to execute on the strategy that we have in the company. We see strong growth and positive development in the platforms that we're creating. We are starting to see cost reduction in the group and we believe that we will be able to continue with this positive trend. And we have a very strong confidence in the core business. Residential is a very strong segment and also public properties is safe and have ability to create higher rental income in the future. We have some areas that we will put more focus on going forward. We are addressing the joint ventures and the financing cost of those. And we think that we will be able to cut the financing cost in the joint ventures that we have in the upcoming year. And we also think that we will be able to make SBB easier to understand and reducing the number of joint ventures. We will see higher and higher cost control in the SBB group through that we are more and more of the assets are in effective vehicles. and that will lead to higher cash flow from the property management. Thank you.

Thank you Leif. Deep diving into the P&L, we've had a solid like-for-like development for the year. We see a strong continuous growth in the residential revenues, giving a total revenue increase of 1.6% on a like-for-like basis. At the same time, we are closely monitoring our property costs with lower maintenance and operating costs compared to 2024. In the last years, we made some wise energy investments, clearly showing signs of paying off. All in all, we had a 2.9% net operating income increase on a like-for-like basis. Looking at administration costs, we have several strategic initiatives aiming for strengthening internal functions, reducing consultant dependency and improving operational efficiency. In total, administration costs are down by 22% from last year. Continuing on this road is a key priority for both SBB and Svea Fastigheter. Changes in property values amounts to minus 0.5 billion for the year. This has been impacted by some individual projects and sales during the year. Looking at the quarter, value changes are clearly leveling off and flatting out for both consolidated properties as well as joint venture properties. In total, we're happy to see a net profit for the period of 1.6 billion. With that said, Helena will take it from a liquidity standpoint.