Thank you very much, and also a warm welcome from us at Cibus. As said, I'm Sverker Källgården, the CEO of the company, and with me today is Pia-Lena Olofsson, the Group CFO. Next slide, please. Pia-Lena will go through all these numbers in more detail later on. Please go to the next slide. It says significant events during the period. Well, the fourth quarter was busy and with great acquisitions. Firstly, we started by announcing that the nomination committee in preparation for the next annual general meeting had been appointed, and then in four transactions, we acquired 11 properties. Three transactions were in Finland and one in Sweden. That makes the total acquisitions for 2020 is over EUR 370 million, which is great and we're very happy about that. These acquisitions were in Finland and in Sweden, as I said. It's the same kind of properties that we always buy, grocery-anchored retail properties. To partly finance these and to keep our LTV within our target, we completed a directed new issue of 2,680,000 shares, raising proceeds of approximately EUR 41 million. Next slide, please. A quick description of Cibus and our business model. We have a very clear strategy. We buy and own and develop daily goods properties with strong tenants that provide dependable income to our shareholders. We focus on supermarket-sized grocery stores with the leading Nordic grocery companies as tenants. Next slide, please. The story of Cibus is the story about portfolio diversification. Traditionally, these kind of assets were owned as either single assets or in small portfolios of two to five assets by private persons or other companies, which meant that this business had a very high-risk concentration because if the tenant left, you lost all your cash flow. You also came into a very weak negotiation position with the tenants. The banks realized this. It was hard to get proper funding, which meant it was a high-risk but also a high-return business. What Cibus realized is that if you bundle these kind of assets together in a large portfolio of 290 assets as we own today, you diversify the risk and you lower the concentration. None of our assets is worth more than 2.5% of our NOI. As a matter of fact, only one asset is worth more than 2% of our NOI, so it's very low concentration of the risk in our portfolio. When you own as many assets as we do, you become an active collaborator with the tenant instead of just a landlord. It's easier to get a higher bankability, so you lower the risk and you have the same return as for a single asset. Next slide, please. What about during detail, and what about e-commerce? Well, Business Sweden has produced a report on Amazon's effect on different kinds of retail when they now have entered the Nordic markets. As you can see, the effects, which is the arrow on the far right with a high effect or electronics, books, and toys, but on the other end of the scale with a very low effect or daily goods. Next slide, please. This is what sets Cibus apart as a real estate company within retail. We have a resilience toward e-commerce in our portfolio as food stores have seen a very negative effect on sales. Even during the pandemic, the share of online trade is just around 4%, and a large share of that volume is click and collect, which is collected from our stores. You can see very few operators worldwide are making profit on online food sales. On the other hand, we see a notable positive effect as our existing stores work as a natural distribution network for other goods purchased online, which can then be delivered to supermarket and picked up there by the customers when they do their weekly grocery shopping. This is a very strong trend all over the Nordic countries. Next slide, please. What also sets Cibus apart is that we have our own organization that actively works with our portfolio and new acquisitions. We can be an active property manager. This is important mostly for our tenants because they're very secure that they can get hold of one of Cibus if they want to discuss whatever matter they have on their minds. It's comfort for the tenants that we have our own organization. It also means that we can be very quick in the transaction phase as we have our own staff who works daily with these kind of issues as well. Next slide, please. Sustainability. We are driven by the conviction that we in our decisions about our real estate portfolio can contribute to a responsible social development. We have the ambition to promote sustainable development for both tenants, as well as the living community, and that this contributes to a good term profit development for our shareholders. We do this together with our tenants. A very successful project that Tokmanni runs is a solar panel plant project on the roofs on the top of our buildings. Today, 26 of our properties have solar panels, and the annual carbon dioxide reduction they generate is about 382 tons. We have also taken our responsibility during the COVID pandemic, and we have lowered the rents of around EUR 200,000 for our smallest tenants who were forced to close their business due to the COVID pandemic. That was in the second quarter, and in the third and the fourth quarter have no additional rent discounts being given. We're also proud that we have issued our first green bond during 2020. Next slide, please. What effects has COVID had on Cibus business? Well, Cibus business model is non-cyclical, which really has proven during this pandemic. We see a very limited negative effect. Grocery sales are on record levels, and our tenants have handled increased demand professionally. Approximately 90% of our income comes from the leading food chains. If you look at the full year 2020, more than 99% of the invoiced rents have been paid. During the fourth quarter, the impact on profit was negligible as well with EUR 0.9 million. Next slide, please. What about growth? Well, the board of direction changed our growth target from EUR 50 million- EUR 100 million during 2020. If you look at the full year figures, as I said, we have grown by more than EUR 370 million in both Sweden and Finland. We have dramatically succeeded on that target. The market continues to be strong. It's unaffected by the COVID pandemic. Finland and Sweden are still our main markets, but the other Nordic markets are monitored. It is a bit difficult to buy properties in a country which you can't even visit. At this moment, we are focused on Finland and Sweden, but we are looking at if deals are coming out on the other market as well. We still have a strong cash position and a strong pipeline regarding possible acquisitions, both in Finland and Sweden. Normal growth will be financed through cash and bank or bond financing. If we see opportunities for more rapid growth, thus this may lead to an equity raise or a hybrid bond to secure the LTV within the company financial targets. Next slide, please. The shareholders list as of the 31st of December 2020. The Fourth AP Fund is still the largest shareholder, followed by Marjan Dragicevic and Dragfast. BMO Global Asset Management is the fourth. If you sum up the 15 largest shareholders, they own 43.4% of the company. During 2020, we have really improved our shareholders list, and we now have over 27,000 shareholders. Next slide, please. If you look at the share price performance, we have an average daily volume of SEK 24 million with about 2,100 transactions per day, which means this is a very liquid share. Even if our operational results were negatively impacted by the coronavirus, the Cibus share price was affected by the stock market unease in March due to the coronavirus, but has recovered since then. The share price on the last day of December was SEK 167.6, and we're still trading around that level. Total share returns since the IPO is over 80% in SEK. Next slide, please. Then over to you, Pia-Lena for the financial overview. Thank you. I will go to the next page and look at some key figures for the quarter. Rental income grew with 34% to EUR 17.6 million. Net operating income increased with 33% to EUR 16.7 million. Profit from property management was EUR 9.3 million and earnings after tax EUR 9.1 million or EUR 0.24 per share. Next slide, please. If we look at the P&L in more detail, as I mentioned, net operating income was EUR 16.7 million. Administration costs are affected by non-recurring costs of EUR 0.5 million. These comprise of costs for the planned list change to Nasdaq's main list, but also costs for conducting an inventory of equipment in the Swedish portfolio. This will increase our ongoing cash flow over the upcoming years. We also had some costs in connection with the liquidation of two dormant subsidiaries. Net financial items includes an unrealized exchange rate loss of EUR 0.5 million. Unrealized changes in value of investment properties was EUR 1.3 million in the fourth quarter. The inventory of equipment in the Swedish property portfolio, as I mentioned before, has a positive effect on current tax, so it was positive with EUR 7.5 million in the quarter. Next slide, please. Our current earnings capacity on a 12-month basis shows a net operating income of EUR 72.6 million with the properties we own now. Profit from property management is EUR 45.9 million or EUR 1.15 per share. This is counted on the full number of shares after the directed new issue that took place in December, so 40 million shares. Next slide, please. We had 290 properties at the end of the fourth quarter. Property value was EUR 1.273 billion, and we had 744,000 sq m. Our anchor tenants, Kesko, Tokmanni, Coop, and S Group, stand for about 90% of our net operating income. Our daily goods, including Lidl, stand for 6%, and other retail 4% of net operating income. Next slide. Looking at our two segments, Finland and Sweden, 86% of our net operating income comes from Finland and 14% from Sweden during the full year 2020. Bear in mind that we acquired the Swedish portfolio in March 2020. Of the property value, 84% is in Finland and 16% in Sweden. Next slide. Cibus' strategy is to give our shareholders stable and reliable dividend that increase over time. Our dividend policy says that we should increase our dividend with 5% per year. Cibus board follows the policy and proposes to the 2021 annual general meeting that the dividend be increased by over 5% to a total of EUR 0.94 per share, divided into 12 monthly dividends. A complete proposal with monthly amounts and record dates will be published in connection with the convening of the annual general meeting. Next slide. Looking at the balance sheet, we have a property value of EUR 1.273 billion. Senior debt was EUR 622 million, giving a loan to value on secured debt of 49%. Then we have two senior unsecured bonds of EUR 195 million, giving a net loan to value of 61.3%, which is within our finance policy target to be between 55% and 65%. Our net asset value, EPRA NRV, was EUR 485 million or EUR 12.1 per share. Next slide. Our average remaining lease time was 5.5 years at the end of the quarter, and has been very stable between five and 5.5 years. We believe it will stay around five years since we are renewing our leases on a regular basis and also buy new properties with usually long lease contracts. Next slide. We have five bank loans with a total of EUR 622 million. In the fourth quarter, we started our cooperation with OP Bank. The average floating interest margin is three months EURIBOR or STIBOR, depending on currency, + 1.7%. Our weighted average tenor is 2.9 years. 61% of the bank loans are hedged with interest rates derivatives. All bank loans are long-term, and the first one matures in 2.1 years. Then we have our two senior unsecured bonds on the market. One green SEK bond of SEK 600 million that matures the 12th of June 2023, and one euro bond that matures the 18th of September 2023. Over to you, Sverker. Thank you, Pia-Lena. Next slide, please. We go to slide number 26, the focus areas going forward. Well, we continue to work with the Cibus change to the Nasdaq Stockholm main list. We have a target to change lists in the first six months of this year. We are looking at new geographies in the Nordics, but as I said, focus is now continued growth in Finland and Sweden to become the leading daily goods real estate company in the Nordics. Efficiency is always important and also to increase return from existing portfolio. Two examples of this is that we are looking at a partnership with a leading car wash company that wants to build on our parking lots. We are also evaluating properties suitable for residential developments. That means if we have a large parking lot or if we would be able to fit in a residential house on our premises in attractive areas. Next slide, please. Last but not least, what are the primary reasons to invest in the Cibus share? Well, we produce a high and stable yield. We strive to earn a high and stable yield for shareholders from the outset. Cibus has never lowered our dividend in EUR per share from one quarter to the next. There is a potential for favorable value growth, as we can buy single assets or small portfolios to a higher yield than the existing portfolio is trading at. We have planned yearly investments of around EUR 50 million-EUR 100 million. We are in a segment with long-term resilience and stability, as the grocery and daily goods industry has experienced stable, non-cyclical growth over time. We give out monthly dividend that increases gradually. Since October 2020, we pay our dividends monthly as the first company on the Nasdaq Nordic. Dividend policy says that dividend should increase with 5% per year. That was all for us. Please, if you have any questions, go ahead. Thank you. If you do wish to ask a question, 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. Our first question is from Svante Krokfors of Nordea. Please go ahead. Your line is open. Yes, good morning, Sverker and Pia-Lena. Hope you can hear me. Yes, good morning. Loud and clear. Good. First regarding the one-off in the administration costs, could you elaborate a bit more specifically what you have done there and how it will improve the cash flow going forward? Okay. Well, it's an inventory of the properties to clarify how much is building equipment and fitting and how much is to the building, which means that we can have a higher taxable deduction depreciation. Which means that we will have a lower actual tax, going forward for several years because we can make higher tax depreciation, taxable depreciations on this equipment. Okay, thank you. Perhaps your value increases for the full year was EUR 6.5 million. Yeah. Could you split up that on cash flow and yield changes? No. We haven't seen any large yield changes. We can say that Finland is very stable. We do see that there's a little bit yield compression in Sweden, but nothing really dramatic. Okay, thank you. On loan availability from banks, is there any changes or are they as willing as always? They're still very willing. Then also, as you can see that we have additional cooperation with a new bank, OP Bank now, but we also have good dialogue and still a lot of interest from our other cooperation banks as well. No, we don't see any change in that. Okay. Perhaps on the acquisition targets. Of course, you cannot specify it more, but is it mainly smaller or have you identified some larger portfolios that could fit into your portfolio? Yes. Well, the bulk and the day-to-day business is single assets or small portfolios. There will certainly be opportunities during 2021 as well, hopefully for a bit larger portfolios as well. We have our set target set on some portfolios. It's more or less a question if the sellers or the owner is willing to sell them. There are businesses to evaluate, and there is a steady flow of prospects into our transactions team. We are very positive for about 2021. Okay. The target to grow the portfolio by EUR 100 million per year, but is reset each year, so the fact that you made EUR 370 million in acquisitions last year doesn't kind of change that? No, not at all. We start every year with a clean sheet. We have the ambition to grow our portfolio by EUR 50 million-EUR 100 million annually. Absolutely. Perhaps on the, you mentioned the residential side also. What kind of strategy would you take there? Would you own it and sell it, or what's the main path there? Probably to make a collaboration with some development company. We won't take any risk on our own balance sheet. That's for sure. Probably there is possibilities in our portfolio, especially in Sweden. We are looking at collaborations with other companies, and we will get back to you more in detail when we have something to tell. Okay, thank you. Last question. You would now say that you plan the mainly listed take place during H1. Have you considered any dual listings, listing to Finland as 84% of your property is in Finland? I think, for example, Adapteo, which has a bit similar situation, is also in that process. Yes. We will consider a dual listing into Finland, now we concentrate on doing the list change, and then if we are on the main list in Stockholm, that would be an easy process to make a dual listing. That we will evaluate that, yes. Okay. That's all from me. Thank you very much, Sverker, and thank you. Thank you, Svante. Thank you. Thank you. Our next question is from Stefan Andersson of SEB. Please go ahead. Thank you. A few questions from me. I start on the central cost. There will always be some one-offs, I guess, and especially since you do acquisitions. Just looking compared to your earnings capacity, you're roughly, it's hard to do comparison, but it's EUR 1.5 million above this year and last year as well. Is that the kind of run rate of one-offs with the activity you have on acquisitions, you think, or have these two years been extraordinarily large or small in any respect? Well, it's not really in regards to acquisitions, the one-offs. One-offs are special because they are one-offs. It depends on what projects you have and what things you do. Of course, we have been very active, and now of course in the quarter, as you say, we have costs for the list change. That of course, we will not have after we have been listed on the main list at Stockholm. We can have other costs as well that are one-offs. You couldn't say a specific number. It depends on what projects we do when and if there is something special going on. We try to be an active company and to look at different possibilities and to improve our position in any way we can. The project that we did with the inventory of the Swedish portfolio is one of that kind of projects that we have done. Just to have gained for several years to come with increased cash flows due to that we can make deductions on paid tax. You can't say a specific number, I would say. Of course, since the company's growing and is getting more mature, perhaps the one-off will be a little bit less frequent. Who knows? We can't say that. Okay. Thank you. That is good enough for me. Thank you. On just your thoughts on your financial side, and if you could maybe elaborate on how you view fixed versus variable rents. I do see examples of more longer fixed out there in the industry, but just your view on that, where you want to be and maybe why. Well, we have discussed, of course, different scenarios. As we say for the midterm, we see that we will finance Cibus with additional bank financing and then bonds, I would say. If we go quicker then of course we would have to make a rights issue or perhaps some hybrid. When it comes to our financing strategy, of course, in the long term and when we grow, we would like to have an official rating, for example. Of course, that would affect our financing. The bonds that we did, we did that in the middle of the pandemic, when the bond market was closed. Of course, those interest rates are higher than we would if we were to refinance those bonds now. Yeah, that's a little bit about our thoughts when it comes to financing. When it comes to fixed or not fixed interest rates, that depends of course on what we are getting and what we're seeing in the market. No, we don't have any really thoughts. We're evaluating different scenarios, and we are looking at the long-term financing of Cibus, of course. Yeah. Then on the residential, I guess example, we touched on that. I fully understand you're not going to maybe develop this out, but one way would be to find areas which could totally just be sold off after planning process, which I guess you would then like to do, and that's how otherwise would build on it to take your risk. Because of being alternative, I guess, to totally convert an area, one way would be to take away the shop that is there and just to try to get else on that plot. Another alternative would be to rebuild with a store in the bottom and then floors above with resi. Are you open for all those alternatives or are you mainly just looking for excess land to divest? Well, as our main focus is to own grocery stores, we are not very keen on taking any stores away. We have good collaboration with Coop, and we have 10-year leases on the 111 stores we own in Sweden with Coop. It's more or less a combination of maybe we could tear the store down, build a new one, and with residentials on top. If the parking lot is big enough, we can build a residential house on the parking lot, and it will be large enough for both the store and the apartment. We are in the very early stages of this, and it takes a very long time to change the plan. We just wanted you to know that we are looking at different kind of projects to increase the return from the existing portfolios, and these are two examples. It's very interesting to look at it. Okay. For my last question, your comment there that your focus is to become the leading daily goods retail company in the Nordics. Yes. I guess in a way you kind of are as well. Just when have you reached that target? What do you mean by that? Well, we're not the largest company yet. How large would you. Yeah, sorry. We're close. We're close, and we are working every day to become the largest and the leading company because in this business, as in all businesses, it's very important to be top of mind. If a company wants to sell their food store, it's very important to be top of mind so you can get access to the material very early on. If you are the leading company, you are mostly always top of mind. That is important. Okay. Thank you. Thank you. Thank you. Just as a reminder, if you have any questions, at zero one on your telephone keypad. There'll be a brief pause while we register any further questions. There are no more questions at this time. I'll hand back over to our speakers. Yeah, we do have one question from the web. Well, there are two questions. When will Cibus move from First North to the main list on Swedish exchange? Yeah, I think we more or less answered that question, but the target is first six months this year. Yeah. Any plans to enter the Baltic market? We have looked at the Baltic market, but the Baltic market is very small. The regulations are a bit different between the countries and as well as between the Baltics and the rest of the Nordics. It's kind of difficult process to do, and you need foot on the ground in the Baltic as well. As it is a fairly small market, up until now, we haven't really considered entering the Baltics. You should never say never, but it's not the focus at the moment. Yeah, that was all the questions from the web. Okay. Thank you very much for listening. Thank you.
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