Thank you very much and welcome everyone. We will have a short presentation and of course continue with the questions. If we take the first slide, please. I will try to shortly summarize this quarter. It has been an active quarter for us, of course, as you maybe have seen. Going to results, we can conclude that we have a very strong result, actually SEK 4 billion in net income. We have shown the strength in the balance sheet, both with realized and unrealized value uplifts. That together with the cash flow and in spite of the dividend, we get a result for this quarter around SEK 4 billion, and that's the strongest in the history of Castellum. We have worked with the transformation of the portfolio. It has been unusual quarter in that case, because we have sold approximately 10% of the balance sheet with a good profit, and we have already restarted the reinvestments in some assets, but also by acquisition and mainly to new developments. I can conclude the resistance against the pandemic. Regarding that we are in the pandemic, we can conclude that both the market of offices and logistics in the Nordics has been very resistant and so has Castellum, it's mainly a product of how the portfolio is consisting of the assets we are consisting of course, but also good work from the team that we was very quick on doing adjustments and also having a lot of course, talks with the tenants. We can conclude now that we are in a very strong position. It is also so that we can conclude that we continue with the strong cash flow as well as the strongest balance sheet we have ever had. We are now one of the strongest investment platform for going forward in the Nordic sector. If we go into the some of the figures on the next slide, please. In this picture, it's easy to see the effects of the change of the portfolio. That gives a negative growth of income from property management, but also shows the growth of 14% on the NRV. The effects on the loan to value that goes down to 41%. As said, this is the strongest balance sheet that Castellum ever had. Finally, of course, it's a fine result on the net lettings under a pandemic. We had a surplus of SEK 40 million, and if anyone have been asleep for 12 months and didn't know it was a pandemic in the world, you couldn't actually in the net leasing read out that it is. I'm very pleased with the net leasing and the work done with the team. With that short start, Ulrika, I would like to hand over to you. We go to the next slide, please, we will not start with the P&L. Strange. Who thought that we should start showing how many of our assets has an energy performance certificate, the so-called EPC ratings? The reason we mention this now in this report and in this presentation is that this is the most common question to us at the moment, and that is of course, due to the EU taxonomy getting in place and becoming a reality for investors and companies. To summarize Castellum in this context, based on the knowledge we have at the moment, the criteria that will be used in order to classify a property as green or not is the EPC ratings. That is properties that has a ratings of A, B and potentially C is among top 15% in each country. Those assets will be green according to the Taxonomy. Converted into Castellum's universe, that means that roughly 40% of our rental income is green and 38% of our value. Going forward in our quarterly reporting, this is numbers and information that you will have on a quarterly basis. With that said, let us turn into 100% of our income and valuation. Please, the next slide. I will spare you from going through all the figures on this slide, but we can at least state that for the first time in Castellum, we have as for Norrporten a negative growth in income from property management, but we have the highest number on the last line in the P&L for any Q1. The main driver behind this is the selling of a portfolio of roughly SEK 10 billion to Blackstone, which creates a realized changes in value as well as an unrealized change in value since it confirms the yield movement on logistic warehouses as an asset class. It also has a negative impact on income from property management because half of the portfolio we closed, signed, and delivered in the beginning of February, and the second will leave in the beginning of May. This, however, gives also Castellum a really strong balance sheet going forward, and we will come back to that. Before going into the like-for-like, the pure property management, I will also make you aware of our stake in Entra, the listed Norwegian property company. That stake has increased the first quarter with roughly SEK 500 million, and is accounted for as an unrealized changes in value. If you go to the next slide, please. The growth in like-for-like on a rental income basis and an NOI basis is modest. That is due to more, you could say, soft and like-for-like rental growth in rental income. Somewhat increased vacancies, which is however suggested by lesser incentives. The main trigger is also a much colder and snowy first quarter compared to the same period last year. Looking into different segments, we can see that the trend from the end of last year is still here. A good like-for-like growth in logistic and public sector, a modest like-for-like growth in offices. A stable growth in retail and light industry is such a few assets, so that have no big impact on the bigger picture. The first quarter has no COVID-19 impact or almost none on the rental side. No bigger incentives. The rents for Q1 is on the bank account. The payment for Q2 looks really good. Liquidity relief has, from the start of COVID-19 one year ago up until today, been in total SEK 145 million, roughly, of which SEK 40 is still active. There is not so much new tenants that needs help. It's more that the first one still needs help, the main part has shifted back towards quarterly payments or invoices. At the moment, we have roughly a handful discussions regarding the renewed government rental aid package that has been announced. The government has brought life in, you could say, the last year's rental aid package and has decided to apply that for the first quarter this year. There is some small changes, and that is that 100% can be given in incentives from the landlord, and then the landlord applies for 50% of that 100%. There is also maximum compensation from a tenant point of view on a group level. That roof for ceiling, or what you could say, has another tricky part, and that also is that from that number, the tenant need to deduct all the other aids that they had get during COVID-19 or based on COVID-19. Additionally, the government has signaled that the support will be extended for April to June 2021. As we know, no decision has been taken. Then, Henrik, the market. Yeah. The market, with or without any subsidization from the government. Can we take the next slide, please? Yeah. We are in rental market net leasing. Thank you. Yes. The next coming slide will show where we think and where we are on the rental market, both on offices as well as on logistics. I will comment on that later on. On the first slide, you can see it is SEK 40 million in positive net leasing. Of course, that doesn't reflect that you can't see here, as I said, that we have a pandemic in the world. If you compare it with last year, we also saw that actually that is a little bit less. In that SEK 99 million that we had last year, it was actually a very large lease we signed in Skåne in south. I should say this 40 consists of a normal year Q1 on the existing portfolio, and then a good normal leasing out on developments historically. More or less a normal quarter. That's good. You can also conclude that Ulrika says we see very little effects about pandemics. We have more or less new bankruptcies. That's a strength. We did very strong quarter also when it comes to this leasing activities, and we know that we benefited from it in the coming years. From my view, this proves that we have a portfolio of very good composition with different tenants, and we are benefited from it in this situation simply. Take the next slide, please. Then we go into the rental market, and how is it now? I can honestly still conclude that the office market in the Castellum land, if I'm allowed to say so, is strong. We can conclude that it comes to pricing. There are no changes done on market rents. It's only small adjustments done in that we have increased some incentives on new leasing in some areas, and that is more or less 10 or 15% up in the softening on the incentives. That's partly in the portfolio, not 100% of the portfolio. It's in more or less central part of Sweden and a little bit more in south than in the west. We can also conclude in this picture that it's no drama when it comes to net take-up. You can see the volatility in the south, in Malmö, and it's always like that because of the market is lower. It's smaller, it's no drama there. The conclusion is simply that the market is very resistant against the COVID-19 and in good shape. If I move to the logistics market, we can see a strong market and huge demand for new efficient spaces. We can simply divide the market into two categories when we're talking logistics. One that could be placed in multiple locations and are normally very large new developments. In this category, I don't foresee a large uplift on the rents due to the fact that the adjustments on the yields. That will put pressure on rents actually going forward because it's a huge profit still in new developments. The other category is very interesting, that will be efficient to places close to large cities where it's simply a lack of land. In this category, we'll see rents about SEK 1,000 a sq m. We already seen it. That will still go on, and it's very interesting to be an investor in that type of category. Therefore, we have invested in new spaces of land, both in Stockholm and Gothenburg and also in the Malmö area, and will increase the volume in new developments. That's in the plan for the future years. If we take the next slide, please. Then we have a smaller portion of the income, but a very important one for the research and development. We have this quarter acquired three more new sites from UMA with a good deal. We simply have six facilities now in Stockholm and Uppsala, and totally nine facilities ongoing in Sweden. We will have another one in the year-end. According to plans, we will at least be at 10. I think that we see the co-working and flex space solution are extremely interesting for the future, and it will be one part of the service concept that we can provide to our customers. Therefore, the plan is to continue the growth of this part of the business and make it a normal offer into all our cities and to all our clients going forward. With that said, Ulrika, I hand over to you and the balance sheet. The next slide. The balance sheet of Castellum is stronger than ever with an LTV of 41% and a debt-to-asset of 39%. After getting the liquidity of SEK 4.9 billion from selling Blackstone, and that is now accounted for on the other assets. Roughly SEK 1 billion from selling Ferring. The LTV will be around 38%, and the debt portfolio will be around SEK 36 billion. That means that Castellum has a really strong financial position going forward. The NAV in the property company can be measured in many different ways. In Castellum, we focus on the EPRA NAV, and that continued to increase and was at the end of March SEK 220 per share, an increase with 14% compared to one year ago despite dividend given to our shareholders. The market again, Henrik. Next slide, please. You see the property market. We can conclude that it was transactions in Q1 in Sweden of SEK 44 billion. It's more or less in line with last year. Actually, the number of these increased. We see the sentiment among investors in the Swedish property and the Nordic property market remains very strong during this Q1. There is a great deal of interest in capital for property investments in the market. Strong, simply. One word. In Q1, we see also a lot of transactions done in the warehouse and logistics segment. We have yield adjustments there. We actually saw the yields move faster than I ever seen before historically. You can also see that, of course, in the uplift of our valuation. If you take the next slide, please. You have seen this before, and I described this many times. It shows the 17 largest developments, and this is, as I normally say, the backbone on investments for Castellum. It's not one development, it's many, and it shows here the 17 largest ones. Therefore, we're lowering the risk in the development pipeline, and we have also a very high degree of pre-let volume in here. We can take some examples on ongoing developments on the next slide, please. Here you see for the first on the top right-hand side, you see the field development. This is a research and development site on the old airport in Säve in Gothenburg with a government-sponsored tenant with a long lease up to 15 years. It's 100% leased out. This is also the start of a permanent research and development site for sustainability transportation systems. We are 100% certain this will attract other interesting tenants in the future, and this is just the first and small start. The second one on the right-hand side is the investment for the immigration services in Sweden. Also again, a government contract, a long contract for special purposes in this asset. The third one is our next phase of the district asset in north Stockholm, in Brunna. All in all, the ongoing developments all at this moment is approximately SEK 5.3 billion in volume and are already pre-let up to 84%. The yield is attractive. It's approximately 6%, and since it's so much government and long contracts in this portfolio, it will of course create interesting value when they are finished and completed. We can take the next slide, please. You can ask yourselves, "Okay, is it then done?" No. We have created one of the largest development pipelines in the Nordics. I think this is the biggest one that actually are in a real estate company. When I say that, I don't mean the developments that are on the drawing board in the headquarter of Gothenburg. It's something we actually negotiated locally and are waiting for zoning plan and/or tenants, simply. This is something we think we can start between 2022 and 2025. To give you some examples of this SEK 20 billion portfolio that carries a profit at least of 30%, and I think I'm cautious saying 30%. Some examples then. The first one on the left-hand side is North Stockholm, where we have the capacity of building another 45,000 sq m of logistics. Of course, we have the more capacity in the airport in Säve. I've said it many times, it's 800,000 sq m that are under zoning plan there. That's not on the picture. On the right-hand side, you see Infinity that we were talking about earlier, this is the next development of SEK 1.7 billion that are built in Hagastaden in absolutely the border of the city of Stockholm, an extremely interesting location. The last one is the absolutely best position in Gothenburg, where we have the building right, and it's under zoning for approximately 30,000 sq m of new, extremely good-positioned offices. It will have a subway station, under it for trains and next door to the Opera of Gothenburg. This is just some example of the capacity for new construction that Castellum holds. Ulrika, how will we finance this? Yes. With all the liquidity flowing into Castellum, you could say that lending new money at the moment has not been our biggest or most active actions. The funding condition in the market, you can say, are very good in every aspect. Good supply, good levels of stable levels and margins. At the end of March this year, we had roughly SEK 19 billion in unused credit facilities, of which SEK 8 billion was backup for outstanding CPs. With further SEK 6 billion in from selling to Blackstone and Ferring in Q2, that volume will increase. That is our situation at the moment, a very strong financial positions. Very short. Finally, Henrik. Okay. If you take the next slide. Shortly, looking forward, as we said in the beginning, the office market is, I should say, surprisingly robust and resistant. I can honestly say that it's better than I expected to say actually a half year ago. We 100%, of course, understand it will affect us, but I don't think you should pencil in too large effects in our cities because the low market vacancy, the need for both rebuilding offices as well as being and taken care of simply when 80%-90% of the staff is coming into the offices in midweek, I don't think you should pencil in too big effects. That is to be seen. Going to the logistics sector, it's under development, and I've said it so many times. Its main issue is the opportunity and the problem, the actual lack of structure in the Nordics now when the e-commerce are expanding into the Nordic cities. The society with old cities and sometimes weak balance sheet on some municipality side makes it more difficult, but also an opportunity for Castellum to construct new logistics areas for distribution into the cities area, simply. Castellum going forward. As we said so many times during this presentation, we have never had a stronger balance sheet. It means that we have never had more investment capacity. It's a golden opportunity for us to continue to grow in the Nordics, and I'm 100% certain that the company will show that in next coming years. Don't forget, we also have the strongest pipeline of developments, and that we are today. This SEK 20 billion is nothing we found up on the headquarters. It's done by hard work, years locally, and now have the possibility to build for tenants. This is assets that's going to be attractive and where the tenant simply would like to stay going forward. This asset that is going to be built and rented out in the next coming years, simply. simply, the Nordic markets are stronger than expected, and Castellum is stronger than ever. Thank you very much. Thank you. If you would like to ask a question, please press zero one on your telephone keypad. If you wish to withdraw a question, you may do so by pressing zero two to cancel. Press zero one if you would like to ask a question. Our first question is from Erik Granström from Carnegie. Please go ahead. Thank you very much. Good morning. I would like to start by asking a few questions about the rental market. You obviously had quite good net lettings in Q1. If we look at Stockholm, the net letting in Stockholm specifically was negative, and at the same time, you mentioned that the rental market for Stockholm is quite stable. Could you perhaps explain the difference there a little bit and what you see in Stockholm specifically? Yeah. I think you have to divide Stockholm City into different parts. The absolutely CBD, we know that it's volatile. We know that it's at 9,000, 10,000 SEK a square meter on top rents that may be going to be adjusted. Our portfolio is just in the outskirt of the CBD, and we are top rents around SEK 6,000. It seems that we can hold it right now. Of course, we have to be cautious on saying that, but we are slowing down a little bit on the renting activity. As said, it's more stable than I thought. Then you go in the first and second ring, I can't see effects on the market rent and offers we're going out with. I stay with my state that it's more stable and in line with earlier. The net lettings I see as more a quarterly effect than anything else in the Stockholm region. Okay. Very clear. A similar question regarding Gothenburg. I noticed that you, to some extent, downgrade the rental market in Gothenburg in Q1 versus Q4 and have noticed some weakening. Could you perhaps explain a little bit of what you're seeing in Gothenburg? Yeah. I think it could be general, but in our universe, it's Gothenburg that's affected. We have some unrented developments in the market. They are affecting it very locally, and would like to rent out their developments, of course. It's always a short-term adjustment in markets when that happened. If you look at overall vacancy rate, it's still very low in the market. I see it as extremely local, and I mean local effects in some sub-markets because of the developers want to lease out their new developments that are not leased out. That will have a softening effect of that very local sub-markets for some time. Otherwise, extremely stable market than otherwise. That should be mentioned. Okay, thank you. Perhaps it's just me that is not understanding specifically. On slide six, could you just explain the difference between the like-for-like development of those two tables in terms of income? I assume rental income as well as. Yeah. I saw that. You see the difference between 1% and 4.9%. Oh. [crosstalk] Can you just explain that difference? I can explain it very easy because the table on the presentation is wrong. That is the property evaluation yield. We will correct that. Oh Put a new presentation on our website. Oh, okay. Now I get it. Okay. 4.9. Yeah, that makes sense. Yeah from a yield perspective. Okay, very good. Yeah. It's just not me going crazy. No that's always a good thing. Perhaps also with regards a little bit to the rental market, the divestment you're making in Copenhagen. Yes a large proportion of that property is becoming vacant. What's the rationale for you selling a property that has, in my view, some sort of potential in terms of rental uplift or development? Yeah. Agreed. We normally wouldn't do that. This is a very special case because of the structure in the house. I think we have been drawing on that asset since we bought it from Norrporten. We conclude that we need to be clever and back off if we don't see the returns that we can find in other part of the portfolio. Technically, this is a one-tenant asset. It's a lot of lab areas, and we don't simply see the returns that we can create. Therefore, we hand it over to the market and say, "If anyone can do that, please do it." We won't likely do any investing somewhere else. That's simply the answer. You, sir. Okay. Yep, fair enough. I have two more questions. One is regarding the balance sheet. You mentioned that it will continue to strengthen following the cash injections from the divestments. What will you do with such a strong balance sheet? You can't just adjust it simply by doing share buybacks or even having a project portfolio of SEK 4 billion per year. Should we expect Castellum to become more aggressive in terms of the transactions market as well? We're discussing here who should answer, but let's try to do that. I can take the transaction market. We definitely would like to see opportunities in this market. We can, of course, conclude like everyone else, we are in a strong market. We have a pipeline not only of fantastic development, we also have an idea of what we can invest in. I promise you that we're going to be active on the market and hopefully close some deals that the shareholders would like. Okay. Thank you. Thank you. my final I'm sorry. No, the cash needs to work, so to say, and that is the ambition. I think this is an excellent opportunity for the board and the management to have a discussion about this. We also launched the buybacks today, to be certain. Yep. Yep. Absolutely. My final question is regarding your holdings in Entra. You describe it as an interesting piece of the puzzle in future structural transactions. Could you explain what you mean by that? It means that we haven't simply taken any decision how we will treat that position. Honestly, it's a fantastic company, Entra. I've said it many times, and that hasn't changed in any way. It's simply up to the board to decide what should we do. I see it as a good piece of puzzle that could be used in the future if we would like to. It's simply open for discussion in the board before summer, and let's see where we're coming out to. Okay. Thank you very much. Thank you for taking all my questions. Thank you. Just as a reminder, if you do wish to ask a question, please press zero one on your telephone keypad now. Our next question is from Markus Henriksson from Pareto Securities. Please go ahead. Good morning, Henrik and Ulrika. I just have a follow-up here on the balance sheet. How do you view the possibility to target a higher credit rating from Moody's to reach Aa1? You talk a lot about the ramp-up in investments and transactions. How do you view that? Yeah. I think that we are satisfied with the ratings we have today, I have said that earlier, and based on the portfolio combination and everything. There is no ambition at the moment to move towards a higher rating that Castellum has today. We are rather comfortable with that one. Okay, perfect. That was my question. Just as a final reminder, if you do wish to ask a question, please press zero one on your telephone keypad now. There are currently no more audio questions. I will hand it over back to the speakers. Thank you very much for listening. We hope to have some decent debates in the summer again. Thank you very much. Bye. Bye.