Good morning, and welcome to this audio cast. We have on slide three, we have the contents of today's presentation. We will end up it with some question- and- answers. Please go forward to slide four. It's been a remarkable year, firstly because of the ongoing pandemic situation and the torment it's inflicted on the world health and economy, and secondly, because we have been able to deliver stronger results than ever before. Year to date, our profit from property management has increased by 15% year-over-year. EPRA NRV has increased by 21% to SEK 245 per share, partly because of revaluation gains of 7% on back of strong investor demand and well-executed development projects. The board proposes a dividend of SEK 7.5 per share, which corresponds to 15% increase. Our leasing operations have performed excellent throughout the year with net SEK 79 million worth of new rent absorbed with our development portfolio being the strongest driver. We are underway with zoning plans anticipated to become final in 2021, enabling new potential projects. The Catena platform provides us with the ability to create value for our customers beyond properties and buildings, and the work we have done makes me confident about the future. Please move forward to page five. We have been fortunate enough to experience only a limited negative impact on revenues caused by COVID-19 so far. Though the market sentiment throughout the years has recovered, uncertainties about the long-term impact of the pandemic still remains somewhat clouded. However, it's evident the pandemic has pushed global supply chains to their limits and increased e-commerce adoption and reshoring, rebuilding new inventory setups are structural forces what will take years to adapt. During 2020, we have agreed to switch from quarterly payments to monthly with some customers comprising SEK 88 million of rental value, all of which have been paid according to the plan. Only SEK 2.6 million have been subsidized either through rent reliefs or through the governmental subsidy program. Please move to slide six. The hard work Catena has put down to become the leading provider of logistic facilities in Sweden has historically paid off. Profits from property management has paced at 14% compounded annual for the last five years with EPRA NRV that has grown by 16% annually. At the same time, the five-year average return on equity has been 17%. Please move to page seven, and then we take page eight. Some short comments on our income statement. Net operating income was 11% higher than the same period last year, and income from property management was 15% higher. This gives us SEK 19.6 per share compared to SEK 16.63 a year ago. Net operating income ratio was reported at over 79.4% in comparison to last year's 76.3%. This is in part due to a mild winter and a lower maintenance cost caused by limited access to the properties during the pandemic. The rental income was affected by a positive one-off in the amount of SEK 14 million during the first quarter, and a negative SEK 5 million was related to reserved credit losses. Changes in property value amounted to SEK 679 million during the fourth quarter and almost SEK 1.2 billion year-to-date, corresponding to a 7% of fair value. Moving over to slide nine. The balance sheet has grown with 15% amounting to almost SEK 20.4 billion compared to SEK 17.8 billion last year, which is a difference of SEK 2.6 billion. Changes in value of properties contributed, as I mentioned before, almost with SEK 1.2 billion and investments in standing assets almost SEK 1 billion. The equity ratio went from 35.6% to 37.2%, and debt as a percentage of total fair value was 52.3%. Moving forward to the operational review, page 10, and moving directly over to page 11. Rental income amounted to SEK 1,264 billion in the period. The total growth in rental income was 7% year-over-year. Project developments contributed 3.5% and net transactions 1.2%. Like-for-like rent growth contributed with 1.5%, which comprises a combination of lease reviews, renewals, as well as indexation and changes in vacancy. There was also one-off effects related to prepayment of an early lease expiry, as well as credit losses net amounting to 0.8%. Moving to page 12. As indicated by the diagram, our cash flow has been growing consistently since 2015. From the last 12 months, we have performed another strong cash flow where we retain 57% from revenues in property management income. Cash flow is key for stability and enable us to generate investment capacity for continued focus on our profitable development pipeline. Our target is to maintain a level above 50% of rental income. Move to slide 13. Some short comments on our portfolio. Catena is organized in five regions with the headquarter placed in Helsingborg, and with regional offices in Malmö, Gothenburg, and Stockholm. Our total organization consists of 46 employees. We have a total of 113 logistics properties scattered around Sweden, with four of them located in Denmark. The properties are typically located on strategic routes in proximity to rail, ports, and highways. During this strange COVID year, we've been able to keep our high economic letting ratio of 96%, and also our surplus ratio at 79%. Moving on to slide 14. We hold a diversified asset portfolio, both in terms of geography, asset size, and tenant concentration. About 12% comprise typical cross-dock terminals, 45% consists distribution facilities, and the rest of the 43% closer to traditional logistic warehouses. 47% of our contractual income is derived from our 10 biggest tenants, with the majority of them representing critical logistics providers whom we hold several contracts with attached to a variety of properties. Many of our customers within food distribution and logistics provide a critical service to society. Moving on to slide 15, and Jörgen. Yeah. This is a slide where we are proud to present a part of our customer portfolio, where many of them are experiencing growth even in this disrupted market. Simply put, our success is mirrored by the success of our customers, and we are proud to acknowledge the long-term relationship we tend to keep with all of our customers. Move to slide 16. On balance day, our property value was appraised at approximately SEK 18.6 billion, with a reported EPRA net initial yield of 5.5%. During the year, unrealized value changes amounted to almost SEK 1.2 billion, which was due to several projects being finalized, especially during the last quarter, and an ongoing market yield compression. Moving over to slide 17. The rental market is strong, particularly in the most populated regions of Stockholm, Gothenburg, and Malmö, shown on the slide, where it is the shortage of new land. In other parts where land is not an issue, the market is typically more stable. We also experienced significant occupier demand, specifically from parcel delivery providers, cold storage, and e-commerce retailers. Move to page 18. We have experienced a successful year with positive net leasing throughout the entire year. In the fourth quarter, we added another SEK 49 million worth of new rent, primarily through development, this was in part offset by rent from space returned of SEK 16 million. Our asset management team has successfully contributed to our high utilization of our facilities, leading to continued high occupancy of 96.2%. Our weighted average lease of approximately five years has been a stable metric for many years. Move to slide 19, and then we go to 20. Some words about our debt and capital structure. Our cost of debt has gone down to 2.3% from last year's 2.6%, mainly due to the prolonged swap agreement in the early stage of 2020. LTV was reported at 52.3%, down 170 basis points a year back from now, primarily due to the increase in value of our portfolio. Equity ratio was reported at 37.2%, with sufficient headroom from our minimum target up of 30%. Moving on to slide 21. Some details about our loan portfolio. Access to financing has gradually improved from the early stages of the year, with credit spreads being tightened. During 2020, we have successfully printed SEK 1.4 billion in bond issues with only a small concession in pricing compared with the beginning of the year. The commercial paper market has also picked up pace since the pandemic hit, and on balance day, SEK 600 million was utilized. Funds available on balance day total to SEK 1.8 billion, comprising cash of SEK 400 million and SEK 1.4 billion of undrawn committed bank facilities. As before, ongoing discussions with our bank creditors are going well. On balance day, we reported a debt maturity of 2.2 years and an average interest maturity of 3.1 years. Moving on to slide 22 for capital deployment, and over to Jörgen on slide number 23. Yeah. We continued to focus the majority of our investment into development. During 2020, we have net invested around SEK 1.2 billion, where almost SEK 1 billion comes from development. Move to page 24. Here you can see it is a slide of our transactions. As shown, the major part has been concentrated in Denmark. We have also made some in Sweden, but that has just been for land, not any facilities yet. Move to 25. At the end of December, 29,000 sq m of space was under construction, which all was pre-let, equating to a remaining SEK 430 million to invest. The value of the project in progress was SEK 1.3 billion, of which SEK 1 billion was related to developments close to closing. During the fourth quarter, we have finalized three major development projects, adding almost SEK 25 million in NOI to our earnings. During 2020, we have added a total of 105,000 new sq m to our portfolio. Move to 26 and then go to 27. Sofie. Some words about our sustainability. During 2020, we're glad to announce the FSR team have put in to comply with EPRA's sustainability standards as well as with the TCFD recommendations. Catena's new goals for GHG emissions have been approved by the Science Based Targets initiative, which is an important signal about our ambitions going forward. Moving over to slide 28. During the year, important steps have been taken to ensure environmentally responsible and cost-efficient operations. We are devoted to ensure that all new buildings are constructed in agreement with ISO standards, and that they attain a level of environmental certification of at least Miljöbyggnad Silver. We now have seven certified properties during 2020 and have ongoing processes with another 11 properties, which will give a total cover of 17% of our portfolio. We track our energy use and GHG emissions on a regular basis, and we are devoted to make use of new technology to enhance our efficiency. We also added seven new solar cell installations during the last year. Moving over to page 29, market insight, and handing over to Jörgen at page 30. Yeah. We have some interesting news from some of our customers. PostNord announced record volumes in terms of parcels for week one now in 2021. DHL reported a huge B2B growth in Q4. Boozt exceeded all expectations during 2020. They are seeing a huge growth in 2021. We can see a continued strong demand for new logistics facilities. Moving to slide 31. We hold a piece of promising land south of Stockholm where we expect to have a final decision on the zoning plan within the next three to 12 months. It comprises 450,000 sq m of land, enables another approximately around 200,000 sq m of lettable area. Could potentially generate somewhere between SEK 150 million to SEK 200 million in head rent. This is an excellent position for logistic purpose. Our ambition is to have a similar development as the one in Sunnerbo outside Malmö. Move to page 32. In November 2020, we announced the agreement to finance the automated warehouse solution installed in L892, a property we agreed to acquire in September with the fashion company Nelly.com as tenant. Although the quality and location of the property portfolio, it's important to our customers. We believe that the service we provide other than the building is crucial to build up long-standing relationships with top-performing customers. Move to next page, 33. We are about right now to start construct a logistics facility up in northern Sweden in Luleå for the customer Kyl- och Frysexpressen Nord. It's an investment of SEK 70 million, and it will be finalized at the end of 2021. It is a good location up north along the highway, which will supply northern Sweden with cold goods. Move to 34. The search of new land continues along with ongoing detailed development plans in progress. On balance day, we hold the potential of about 5 million sq m of land. We're almost SEK 1 million consolidated in our balance sheet. Rest of the land back is conditional on various contractual agreements, such as detailed development plans have been to gain legal force. Okay, we are ready for Q&A. Yes. Okay. Slide 35. 35. Are there any questions? Thank you. If you do have a question for the speakers, please press zero one on your telephone keypad. If you wish to withdraw your question, you may do so by pressing zero two to cancel. There'll be a brief pause while any questions are being registered. Just as a reminder, if you wish to ask a question, that's zero one on your telephone keypad. Our first question is from Niklas Wetterling of DNB. Please go ahead. Your line is open. Hi. You mentioned that the development CapEx was about SEK 1 billion in 2020. You have remaining investment volume for your ongoing projects of about SEK 500 million. Is it a fair assumption that the investment volume will go down in 2021? It depends. Maybe. It could depend on when we are having our zoning plans approval, and we can start some new projects. Otherwise, to keep up the steam in the growth, we have maybe to look at some acquisitions to keep up the growth and increase our result of property management. We have not 100% control of it since the zoning plan processes can be delayed in some cases. It could be a decline in 2021 and uptick in 2022. Yeah, it could be a smaller one. Yeah. Okay. Yeah, sorry. As you also mentioned that the volumes for your tenants is growing. How's the status about the known upcoming termination in your portfolio? The vacancy rate is very low. Do you expect it to keep that way coming years? Yeah. As we mentioned, the underlying demand for our facilities are very strong, so we cannot see that, and we have no signals at all that there would be some contracts terminated. On the contrary, we are having a lot of questions about asking for more services. Okay. Yeah. Thanks. My last question is about your land bank and development pipeline. When do you expect to start to sign leases, like in Stockholm South? We have discussions ongoing. It's very tough to sign contracts when we are not at the stage where we can know exactly when we are allowed to start building. It's very critical for some of the tenants which date they have to move in. It's tough to say, but of course, we would have a very high pace on that one as soon as we have the zoning plan approved. Then we can really take the discussions and intensify them to sign contracts. I hope that we can present some deals this year on Stockholm South. Okay, great. Thanks. That's all for me. Thank you. There'll be a brief pause while we register any further questions. Our next question is from John Vuong of Kempen. Please go ahead. Hi, good morning. Maybe a follow-up on the strong underlying demand for your facilities. I was wondering whether you have a bit more color on the reletting spreads you're signing with your tenants. Spreads of the rent you mean for upcoming new contracts? Yeah, exactly. If we re-sign them? Yeah. That question is quite common, and we think that if we are renegotiating and we have the locations in Stockholm, in Malmö, and Gothenburg, there is a good chance to raise the rent level a bit. We are not talking about those raises we can see in the office market. We feel very confident with the positions we have in Stockholm, Malmö, and Gothenburg. When we are talking other locations, we can see that the rent is quite flat in the future when there is land available, so to speak, the other side of the street. All right. That's very clear. Thank you. Maybe on your value growth, given where transactions have been, even during last month, do you expect to see more yield compression in the medium to short term? I think there could be some more yield compressions and the signals we have seen from Europe and so on, Southern Europe and Germany and U.K. We can see that there have been made some deals at very low yields in Sweden as well. Maybe we can see in 3 to 6 months, there will be some more compressions. All right. That's very clear. Thank you. Thank you. There'll be another brief pause while we register any more questions. We have one question that came through by mail. It's from Ryan Beaumont on Clearance Clearance Capital. The question is: assuming you get zoning for Stockholm South this year, what is the expected completion time? Jörgen, do you have an answer? Yeah. It varies, but I think this could be reasonable. There is a lot of work with the land, but let's say we have approval in the spring, and then let's say somewhere around 18 months. Then we can have the tenants moving in Stockholm South. To complete the whole area, if that's the question, well, it's very tough to say, but we can talk about 5-7 years to complete the whole area, could be a qualified guess. We do have one more question on the phone line from Victor Krüeger of ABG. Please go ahead. Thank you. Just first of all, you talked about north of Sweden and some expansion, and I just wonder if you would like to give a bit more flavor on your ambition with that expansion. Yeah. We see that Sjöholm & Frykberg is, so to speak, a good customer. We are very glad to follow customers all over Scandinavia. We see that we can maybe have some more deals with the customer in the future. We also see that as long as we follow the E4, the highway up through north, we think it's very good. Our vision is to link the Scandinavian goods. That's the argument why we are investing in up North Sweden. That's very clear. Thank you. I just had something more here on You talked about your extra service apart from location that you offer your tenants. What distinguish you from the competitors in that instance? We are working very close to our tenants, and we have discussions with them quite often, and we are very fast-footed, and we are not any kind of invisible capital investing in properties. We are very operated in them, and we can handle different situations if they need a quick expansion or they need to move out and maybe move to another facility somewhere. We can solve it very pragmatically and very fast. We have had a lot of credit from our tenants about that. Fast-footed, we can also discuss some logistics challenges. We are also in discussions with, for example, financing automations and giving them advice in best cases since we have some experts in our organization and our networks about that kind of things. We are always close to the tenants. Yeah. That's a fairly new operation, isn't it? The financing of automation. For example, when tenants want a new facility with freezing or chill, it is very common that the landlord is investing in that kind of machines. We see in the future that a lot of logistic facilities have an automation installed, and that could be in the future that it will be more common that the landlord will be a part of that discussion. Understood. Thank you. That was all from me. Thank you. Thank you. There are currently no more questions on the audio line, so I'll hand back over to our speakers. Okay, we don't have any more questions through email. I think we can say thank you to you all for today. Thank you for listening. Take care. Nice having you. We wish you a pleasant weekend. Thank you all. Thank you very much. Goodbye.