Wallenstam AB (publ)

Hello and welcome to our presentation of our first half-year of 2026.

And where are we now, Hans? We are in the heart, in the middle of Origo of Gothenburg. Here we have Gustav Aalstorg. Here we have Brunnsparken. And what is there? Yes, the quarter of Valvet. A property that we bought a few years ago from Handelsbanken. And we have renovated and taken care of the floors in a way that has made it more efficient and very nice. So let us now go in and look at how it looks, even internally, and summarize the result.

Yes, welcome. Yes, now we have entered our property, Valvet, and now we are actually in the areas that are not really clear. And what's going to happen here, Hans?

Yes, here you can see that we are in the middle of a construction site. It is Mullvard VPN that is going in here. We have removed a complete bjälklag here above us. It's a fantastic situation.

And if we sum up the first half of the year for Wallenstam, we have an administrative result of about 630 million. And if you clean up for the one-time income we had the previous year for the corresponding period, and also if we calculate the empty position we have of the sale scrap, we provide a positive result, an increase compared to the previous year. If you had the chance to summarize the most important parts of our result, what would you have highlighted?

I would say the business itself. We have a fantastically strong outsourcing team that manages to maintain a 97% outsourcing level. And beyond that strong outsourcing level, you can see that at least 9 out of 10 commercial tenants choose to stay with us when their contract expires. And that, I think, speaks a lot because you are satisfied with Wallenstam as a rental world, which I am very proud of. There are 325,000 people in our housing queue, and it is an enormous responsibility to try to work with I'm also very proud of that.

And this property is an example of energy savings. Another thing that happened in the first half of this year, as we mentioned in the previous film, is that we have started a new business area, investments. And that is to facilitate the housing market that you talked about, Hans. Can you tell us more about the purpose of this?

Det var ju en väldigt speciell situation då efter covid och inflationschocken har gjort att byggkosten har stigit dramatiskt. Vilket tyvärr har fått följande också hyrorna har stigit rejält i vår nyproduktion. This means that we have to create even nicer products, even more wow products for our customers who then feel that it is worth paying the rent as it is. So this is to further increase the focus on quality. We always have a location so that it becomes a kind of craft with every apartment. Every apartment should feel unique. So that's really the goal with this. omorganisationen.

Regionerna hade tidigare ansvaret för nyproduktion, men nu när vi lyfter bort det, vad är tanken då att

Ja, alltså det blev ju också så här att vi fick lite nya byggregler här, vilket som har gjort att vi på ett än bättre sätt kan ta vara på befintligt bestånd. Där vi kan omvandla ytor som idag kanske inte används, som vindar och källar och så vidare, till utredningsbara yta. Det kan bli lägenheter, det kan bli kontor, det kan bli annat. This will help our regions to focus on irrigation and, of course, the continued energy work, which is also necessary. It feels very exciting for the regions as well.

And these measures of course create value. And if we look at our value changes for the first half of the year, they go up to just over 400 million and are mostly made up of these kind of transactions. And can you comment on this?

Yes, we are in the middle again now. This is exactly how I want us to work. We want to take care of this property in an even more effective way. And we have done that in several places. And that summed up to almost 400 million in this quarter. So that's what the regions should focus on.

Then we have actually done a very big thing now, but really after the release of the report. On July 1, we left our wind power plants. Kan du kommentera det?

Ja, efter nästan 20 år utav innehav utav våra vindkraftverk så har vi avyttrat den och skapat en relation med Locus Energy. Men det vill jag komma tillbaka mer under kvartal 3 då vi resultatför allting ur den affären.

And now it's time to go over to the balance sheet and look at our investments. We have invested 1.4 billion under this first half year. Where we have started in new and renovations. Where we have started 355 apartments. And there are two projects that you might want to tell us about.

Ja, det är ju jätteroligt att kunna starta projekt och då projektet Kalandersplatsen fick jag förmånen att stå med bostadsministern och ta ett första spadtag. Där ska det byggas 190 lägenheter. Det är ett unikt fint projekt som vi har jobbat med i många år. Men vi har också startat näst sista byggnationen av ett kvarter i vårt stadsutvecklingsprojekt i Kallebäck. And it's starting to come to an end now, to complete the entire project. And that's very fun. So we have now started those two projects during the quarter.

We can do that thanks to our strong financial position. We see that our key has, among other things, 43% solidity and 48% reward rate. Wallenstam's goal is to reach a substance value of 80 kronor per share by 2030. We present a figure of 63.10 kronor when we start the first half of the year. But Hans, now it's time for us to pack up and go on vacation and soon wait for a winter and autumn. And what happens for Wallenstam then?

Yes, now we are going to enjoy the summer, but autumn will be very exciting. And quarter three we will tell you everything about our wind power business and our relationship with Locust Energy. And I'm going to tell you about Sergelskrapan, where we're working on refining as best as we can. We're taking down the facade, and we're going to start setting up the facade. So a lot is happening around that, and we'll get back to that and a lot more during the autumn. So have a nice summer, and I'll see you again in the autumn. Bye!