Wallenstam AB (publ)

Welcome to Wallenstam, quarter one, 2026. Here we are in Årstaberg in Stockholm and have our film from a fantastic project where we see it is being built behind me. 100 apartments, almost 100 apartments will be moved in now before the summer and about 100 apartments will be moved in after the summer. The first 100 are already rented, the other 100 we are renting out in full. And the demand is enormous. When we were going to show our exhibition space, we had 3,000 people who signed up to watch this fantastic project and an exhibition space. So we are very proud of the project, which in total covers 409 apartments here in Stockholm Center. It will be a fantastic quality property. But now we're going to talk a little more about the result, so welcome to the exhibition apartment. Welcome to our showroom in Årstaberg. A fantastic, nice place with a nice kitchen, a nice bathroom and well-planned. But I was going to come back to the fact that we have such anxiety all over the world. War is going on almost everywhere, and it's terrible. People are dying and a lot of evil is happening. But the big thing in the economy is this war between Iran, Israel and the USA, which then affects transport and energy in a way that affects the entire world economy. But we can't do anything about it, but we have to focus on what we ourselves can influence. And what he can see in these times is that the interest rates are very unstable, up and down big drops. And we have worked with that and extended and made new derivatives.

Our individual biggest cost is interest rates, so of course there is a lot of focus on that. So we have continued to extend our interest rates, so we have insured two thirds of our debts. So you can say that it is evenly distributed, our interest savings, for nine years, with about 2-2.5 billion per year falling. This means that we have an average bond time of three and a half years. So when we go out of this quarter, we have 2.43% in average rent, which is four points higher than when we went out of quarter four. So rents are our individual biggest cost, but our individual biggest income is rents.

Yes, it is rents that we produce, like this one that we give out and then get in. fina hyror som vi kan göra nästa projekt med och så vidare. Men det som har hänt under kvartalet med intäkterna, det är ju att vi nu har slutfört alla hyresförhandlingar med hyresgästföreningen angående våra bostadshyror. Och Göteborg nu var den sista, så att när vi har gjort klart allting så har vi drygt 3% i hyreshöjning det här året. Och det känns väldigt skönt att kommunicera så det inte blir så mycket retroaktivt för våra kunder och så vidare, för de behöver också en trygg We are striving to come to an agreement early so that we know what is going on this year.

And then we have gone through rents and rents and almost in principle passed an administrative result that is about the same level as the previous year's quarter one. But then if you clear for It has been a snowy and cold first quarter, which affects our fuel costs by about 10 million. But it could have been much higher if we hadn't worked with our energy efficiency that we have done. In the previous year, we also had a one-time payment for our rents in Q1. If we clean up for them, we have a new parity with previous year's figures. Something that has a negative impact on our results is that we have moved out of the entire sales floor to carry out this project. So it affects us negatively now, but it will create nice results in the future.

It was a fantastic opportunity when we got the acquisition, but you have to know that it still cost 2.8 billion SEK and then we have emptied it. Of course, the result is noticeable. But we are working hard on the project and it will be that pearl in two years or at the end of next year that we then take off the screw and show Stockholm and Sweden how it will look. But we are in full swing, we are taking down the facade, we are working on it and we are deciding on the interior and so on now. So it will be a fantastic project when it's done.

This is not visible in our balance sheet, but we maintain a strong financial position with a reward rate of 47% and solidity of 44%. And if we look at our substance value, which is our goal, we continue to increase it with 80 euros this first quarter. All other figures actually look very good.

Yes, and when we are talking about real estate values, of course, the real estate values have a great importance, but we have judged that they remain silent during the quarter. So it's just marginal adjustments, no waste changes or anything, but they are basically intact since the change of year.

And there we might create even more value in our existing houses and also in the new production. There we have done a little reorganization.

Yes, not so small, but a fairly large reorganization where we have created a business board of investments that will take care of all investment activities, such as sales and purchase of new properties or building rights and so on. But also the new production. Everything that we are in here now will be taken by the Business Administration Investments and Erik Lange is responsible for making those decisions and running that department. Just to increase further customer focus, to create products that are really our tenants, önskar och vill ha till en effektiv kostnad. För vi ser också att kvalitet är någonting som uppskattas både från våra kunder men också från investeringsmarknaden. Så det är ett ökat fokus på nyproduktion and other investments, one might say. But that also means that the regions can increase their focus on their business, which is an effective administration, and of course then look over the stock and see if we can develop property and create value in existing stock. Because the new construction rules make it possible for us to Jobba och skapa nya lägenheter, skapa nya utrymmen som vi då kan ta vara genom fastighetsförädling. Så detta hoppas jag kommer bidra till resultatet framöver. Så tack så hemskt mycket för att du lyssnade på vår kvartal 1. Så återkommer vi i kvartal 2. Tack för att du lyssnade. Tack.