Welcome to Atrium Ljungberg Q1 presentation. The heading for this report is Stable Profit and Demand for Our Residential Remains Strong. As a start, I would like to update you on our overall key figures. The property value of the end of the quarter was SEK 48 billion. The contracted annual rent SEK 2.3 billion. Offices are still our largest segment, with 54% of the contracted annual rent. Retail stands for 20%. The rest culture, education, FMCG, restaurants, healthcare, and residentials, according to our urban development strategy. The gearing ratio was 42.6%. What were the main events for the quarter? Well, we acquired two properties in Gothenburg on Lindholmen, M1 and Centralstationen, with a total of 22,000 sq m. The investment was SEK 448 million. The deal is conditional on a new development plan, which is expected to take place by the start of 2024. We have also signed a cooperation agreement with Stockholm University of the Arts to establish in Slakthusområdet. The high school block will comprise 25,000 sq m. The agreement is conditional over land allocation and start of a detailed plan, which is expected to be in place during the spring. As of 31st of March, we exceeded our goal for green lease contracts to account for 50% of our contracted annual rent. Finally, for the eighth year in a row, Atrium Ljungberg was ranked as one of [Non-English content]. F or the eighth year in a row, Atrium Ljungberg was ranked as one of Sweden's best working places in the Great Place to Work employee survey. A few words on the market situation. For offices, we see increased activity on the market. Yield requirements have been stable. We have adjusted the yield requirements on a few office properties and projects, resulting in an increase in property value of SEK 167 million. In our retail segment, we still see a big difference in turnover in different segments. Demand for shoes and clothes have decreased, but on the other hand, businesses for groceries, home styling, sports and leisure, and electronics are performing well. Market prices for the residentials have increased in the big cities in Sweden. Our own sales have performed very well, and we will report the profits from this project in the second quarter of this year, once we have completed our final handover to the association. Our project in Uppsala with rental apartments has been successful and is almost fully let. On the financing side, we see continued favorable conditions on the capital market. A few words about the COVID-19 situation. Total sales at our three largest regional retail hubs during the quarter decreased by an overall 7% in like-for-like portfolio. In the first quarter, additional rebates related to the COVID-19 pandemic have given total of SEK 4 million. These rebates are not expected to be covered by the government. There is a political consensus to extend the government rent rebates for Q1 and Q2. We still refer to another supported package, which offers direct support to companies that have been affected in the pandemic. Our projects are progressing as planned with very low impact from COVID-19. There is, of course, still an uncertainty related to the pandemic, but the situation is now expected to brighten thanks to the vaccine program. On the positive side, we see the countries that now open up, people go back to their offices and increase their consumption. By that, I hand over to our CFO, Martin Lindqvist. Thank you, Annica. I will begin by talking about the net letting, which amounted to -SEK 10 million in the quarter. Newly signed contracts relate primarily to the Stockholm area and include both offices and healthcare, while terminations relate primarily to offices in the Stockholm area. If we look at the income statement, we see that the rental income is down by 12% compared to Q1 last year, and this is of course largely due to the sale of Farsta Centrum. In like-for-like portfolios, rental income was down by 1.1%. Central administration is stable compared to the previous year, and the project and construction operations are significantly up related to the previously communicated positive outcome in a dispute for our subsidiary, TL Bygg. Net financial items are lower, primarily due to new practice for capitalization of interest costs linked to land acquisitions and project expenses, but also partly due to lower average borrowing during the quarter. The changes in value continue to make a positive contribution, and this quarter, as in previous quarters, it is mainly thanks to the office portfolio. If we look further at rental income and property costs, we see that rental income in like-for-like portfolios decreased by 1.1%, and property costs increased slightly compared to last year's first quarter, especially related to the fact that this quarter's winter was slightly more difficult than last year's mild one. Both temperatures and amount of snow come into play here. The vacancy rate remains at 9%, the same as in Q4, and customer losses were lower this quarter compared to last year's Q1. If we break down the development in rental income in our two main segments, we see that office properties continue to have a positive development, more specifically + 1.1%. This is related to new lettings and renegotiations, but also negatively affected by some premises being vacated in the office segment. For retail properties, rental income in like-for-like portfolios is down by 4.4%, and this is mainly related to higher vacancies and to a certain extent, lower sales rents. The investments landed at SEK 485 million. We are keeping pace with our full-year financial goal of SEK 2 billion. Still disruptions in the projects due to the pandemic are insignificant. The changes in property value continue up, as Annica mentioned, and are in Q1, as in the immediately preceding quarters, primarily related to offices, but partly also project properties. A quick look at the consolidated assets and the usual reminder that our total property portfolio consists of both investment properties under fixed assets and development properties on current assets. In the comparison period, you see SEK 4.4 billion under assets held for sale, and that is of course Farsta Centrum that is located under that heading. We look on the financing, and we see that secured loans correspond to 14% of total assets and that green financing now accounts for more than half of the loan portfolio. Looking on the key figures, we see that the average interest rate is stable, but that the loan-to-value ratio is up compared with the turn of the year, but then affected by the cash on hand, where we were prepared for the dividend to be paid out on 1st of April. If you look on the loan-to-value ratio net of cash, it was 40.0%. With that, I leave word to you again, Annica. Thank you. A few words about the product portfolio. We have a big and impressive product portfolio that enables investment of approximately SEK 38 billion, where SEK 2.3 billion is confirmed projects. If we're looking at potential projects of SEK 36 billion, these investments will mostly be in Sickla in Nacka, Slakthusområdet in Stockholm, in Gränbystaden in Uppsala, and Slussen and Hagastaden in Stockholm, and where offices represent approximately 50% and residentials approximately 40%. A very big portion of our project portfolio are situated near to existing or future underground station in the Stockholm area, and that's why I think our project portfolio is extra interesting. We will soon complete our hotel project in Sickla, Tapetfabriken. This is a hotel that will be next to Marcusplatsen, and the project is fully let to Nordic Choice Hotels, and with a total of 236 hotel rooms and a public lobby. The hotel will open in the middle of June this year. In Sickla Galleria, we're adding parking spaces that we need for the health house Kuranten and the coming project Stationshuset, but also some more square meters of retail. For the additional space, we have signed the lease contract with the sports operator XXL of 3,100 sq m, and the project will be completed the third quarter this year. In Nobelberget in Sickla, we will build a total of approximately 500 condominiums. The project of Nobelberget phase two called Brf Konstharts, we had a good start and today we have signed booking contracts of all apartments and occupancy is planned for the summer of 2022. In Gränbystaden in Uppsala, we are building rental apartments. Parkhusen, Block 1 comprises 44 rental apartments with commercial premises on the ground floor. Schedule for completion is the second quarter of 2021, and the apartments are now very close to being fully let. In Gränby Park Block 2, we have decided to build condominiums. We will start the selling process in June this year. The project comprises 98 residential units, and completion is planned during the second quarter of 2023. Life City is our biggest project in Hagastaden, and the building is to be the clear choice of meeting place for everyone working in the life science segment in Hagastaden. The major tenant will be Academic Work, and they will move in December this year. We have now signed a lease contract of over 900 sq m for the restaurant on the bottom floor, and the project will be fully completed during the spring of 2022. Our project in Bas Barkarby in Järfälla is under construction. The first phase comprises 24,000 sq m and includes an upper secondary school, healthcare, sports, and businesses. The major tenant is Järfälla Municipality of 11,000 sq m. During this quarter, we have signed a contract with a doctor's clinic of more than 900 sq m, and the project will be completed in spring 2022. We have the refurbishment of Katarinahuset in Slussen. That is underway, and after renovations, the house will be a future state-of-the-art office with a unique view, a hotel, and several restaurants. We have signed a lease contract with Eriks Gondolen of 1,100 sq m. It is a very famous Swedish restaurant. The refurbishment will be completed by the summer of 2023. With that, we close our Q1 presentation. If you have any questions, you can send me or Martin an email. Thank you very much and goodbye.
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