Please go ahead with your meeting. Thank you. Thank you very much. Again, warm welcome to the Cibus Q1 report. My name is Sverker Källgården, and with me today, as said, is Pia-Lena Olofsson, the Group CFO. Next slide, please. Pia-Lena will take us through all the figures in more detail further on in the presentation, please continue to the slide that says significant events after the end of the period. After the Q1 period, we have made two acquisitions, one in Sweden for about EUR 3.5 million and one in Finland for EUR 5.3 million. Also on the Annual General Meeting, Victoria Skoglund was elected as new board member, replacing Johanna Skogestig, and all other board members were re-elected. Next slide, please. What is Cibus? Cibus Nordic Real Estate is a real estate company focused on daily goods properties, mostly grocery properties in supermarket size. We buy and we manage properties with strong tenants that provide dependable income to our shareholders. We are listed on Nasdaq First North Premier Growth Market since March 2018. We have a clear Nordic focus, we pay out monthly dividends to our shareholders. Currently, EUR 0.94 for the coming 12 months. Next slide, please. The story about Cibus is the story about portfolio diversification. Traditionally, these kind of assets were owned as single assets or in small portfolios, so maybe two to five assets, which meant you had a very high-risk concentration. If the tenant left, you lost all your cash flow, you also had a very weak negotiation position due to this with the tenants. The banks realized it, the bankability was low, which meant that it was a high-risk but also a high-return business. What Cibus realized is that if you own 300 of these properties, you diversify the risk and lower the concentration. You also become an active cooperator with the tenants instead of just a landlord, as we own a lot of their stores. The bankability is much higher, so we lower the risk, but we have the same return as for a single asset. Due to the risk factor of owning small portfolios, we can always buy assets 50 to 100 basis points higher than the existing portfolio is trading at. This is what produces value-created growth for our shareholders. Next slide, please. What about e-commerce? The Swedish Trade Federation has produced a report on Amazon's effect on different types of retail, and as you can see far right with a very high effect are electronics and books. On the other end of the scale with a very low effect are daily goods. Next slide, please. We can see this in our own portfolio that we have a resilience towards e-commerce. When it comes to daily goods and groceries in particular, we have seen a negligible negative effect. Even during the pandemic, when online trading has risen, the share of online trading is around 4%, and a large share of that volume is click and collect from our stores. On the other hand, we see a notable positive effect that our existing stores, they work as a natural distribution network for other goods purchased online. As you can see on the picture, there are these kind of boxes in mostly every store or many of them at least. Other can have it manual operated, but they all take care and are distribution networks for other goods purchased online. Next slide, please. What also sets us apart, that we are an active property manager. We have our own organization that actively works with our portfolio and new acquisitions, and the organization constantly monitors the market, and they enable us to make these kind of acquisitions I mentioned earlier that we have done so far this year. Which means that we can easily buy single assets as well as large portfolios. Next slide, please. Sustainability. As we have a lot of triple net contracts and electricity is always paid by our tenants, we work together with our tenants when it comes to sustainability. One of our largest projects is with Tokmanni, who are building solar panel plants on the roofs of our properties. Today, 28 of our properties have these solar panels. You can see on the chart to the right how that proportion has risen over the years. The annual carbon dioxide reduction they generate is about 421 tons, that's equivalent to almost 1,500 apartments. Next slide, please. What about corona and the effect of Cibus business? Well, we have a business model that is non-cyclical, that should work over time, and the corona pandemic has really proven that. We have seen a very limited negative effect. Grocery sales are on record levels. Approximately 90% of our income comes from leading food chains. Around 99% of our invoiced rent for Q1 has been paid, the effect is very limited. Next slide, please. What about growth? Well, if you see on the chart to the right, we have met the growth target both in 2018 and 2019. In 2020, we by far surpassed the growth target by acquiring properties for EUR 340 million. We have a growth target of EUR 50 million-EUR 100 million, and so far this year we have acquired properties for around EUR 9 million. We've had a very good start. The market continues to be strong. It's unaffected by the corona pandemic, and Finland and Sweden are still our main markets, but the other Nordic markets are monitored and hopefully, the Nordics can open up a bit more after the summer holidays and we can go and look at properties all over the Nordics, and that will make it easier to enter new markets. We have a strong cash position and a very strong pipeline regarding possible acquisition. Normal growth will be financed through cash and bank or bond financing, but if we have opportunities for more rapid growth, that may lead to an equity raise to secure the LTV within the company financial target. Next slide, please. Taking a look at the shareholders list as of the 31st of March 2021. The Fourth AP Fund is still the largest owner with close to 9%, followed by BMO Global Asset Management, Marjan Dragicevic, Dragfast, and Avanza Pension. In total, the 15 largest shareholders stand for almost 45% of the company. We had 32,000 shareholders on the last day of March this year. Looking at the share price performance, we have an average daily volume of SEK 21 million with more than 2,000 transactions per day. On the last day of March, the share price was SEK 164, and total share return since first of January 2020 is 20% in SEK. We are planning a move to the Nasdaq Main List. We will be on the mid-cap during the first half of this year. Currently, the share is trading at share price around SEK 184. Over to you, Pia-Lena for the financial overview. Thank you. On page 16, I will just briefly go through some of the key figures for the quarter. Rental income grew with 38% to EUR 19.4 million. Net operating income increased with 40% to EUR 18.2 million. Profit from property management was EUR 6 million, earnings after tax, EUR 11.2 million or EUR 0.28 a share. Next slide, please. Looking at the P&L in more detail, as I mentioned, net operating income was EUR 18.2 million. Cost are slightly higher due to that we have cost for list change, not a large amount, around EUR 100,000. Net financial end items was affected by a positive exchange gain of EUR 497,000. Unrealized changes in value of investment properties was EUR 193,000 compared to EUR 1,609,000 in first quarter 2020. We have no current tax in the period due to that we use our loss carry-forward and also taxable depreciation on buildings inventory. If we look at cash and cash flow, we have one item that I would like to point out that is affecting comparability. During the period, EUR 4.8 million was paid by companies in the group for intra-group transactions. This was not received back from the Finnish Tax agency during the quarter. We have received the amount now during the second quarter. Next slide, please. Our current earning capacity on a 12-month basis shows a net operating income of EUR 72.6 million. The properties that we own at the end of March 2021, and this is unchanged from 31st December 2020, since we did not acquire any properties during Q1. Profit from property management was EUR 45.9 million or EUR 1.15 per share. After the period, as Sverker said, we have acquired additional properties in both Finland and Sweden. Next slide. We have 290 properties at the end of the first quarter. Property value was EUR 1.27 billion, and we had 744,000 sq m. Our anchor tenants, Kesko, Tokmanni, Coop, S-Group, and Lidl stand for over 90% of our net operating income. Next slide. Looking at our two segments, Finland and Sweden, 85% of our net operating income comes from Finland and 15% from Sweden. Our property value, 84% is in Finland and 16% is in Sweden. Next slide. Our 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. On the Annual General Meeting that we had the 15th of April this year, it was decided to increase dividend with more than 5% to EUR 0.94 per share, divided between 12 monthly dividends. Next slide. Looking at the balance sheet, we have property value of EUR 1,270,000,000. Senior debt was EUR 620,000,000, giving a loan to value on secure debt of 48.9%. Then we have our two bonds of EUR 194,000,000, giving a net loan to value of 61.6%. This is within our finance policy target of being between 55% and 65% loan to value. Our net asset value, EPRA NRV, was EUR 487,000,000 or EUR 12.2 per share. Next slide. Our average remaining lease time was 5.2 years at the end of the quarter and has been, as you see on the graph below, quite stable around five years historically. This is because we renew our leases on a regular basis, but also buy new properties with usually long lease contracts. Next slide. At the end of the quarter, we had five bank loans with a total of EUR 620 million. The average floating margin is three-month EURIBOR or STIBOR, depending on currency, +1.7%. Our weighted average tenor is 2.7 years. 68% of the bank loans are hedged with interest rates derivatives, and all bank loans are long-term. The first loan matures in 1.9 years. We have two senior unsecured bonds on the market. One green SEK bond of SEK 600 million and one EUR bond of EUR 135 million. Next slide. Looking at our funding strategy in the medium term, we believe that still more than 50% of external funding will be bank financing. We do, however, intend to be active on the bond market as well and are considering putting a MTN program in place. Normal growth will be financed with generated cash and bank loans, while larger portfolios will need to be financed by a bond or perhaps a hybrid bond or a new share issue to keep the LTV within the finance policy thresholds between 55%-65% LTV. Next slide. In the long term, our funding strategy is to reach investment grade in credit rating, and then the debt structure will need to be a bit different compared to the midterm strategy. Over to you, Sverker. Thank you. What about the future and our focus areas going forward? Our focus areas at the moment that we are working with the list change to Nasdaq Stockholm main list. Our target is still to conduct the list change within the first six months of this year. We are monitoring new geographies in the Nordics, focusing now on a short term for continued growth in Finland and Sweden to become the largest daily goods real estate company in the Nordics. We are also looking at an MTN program for bonds, as Pia-Lena mentioned. Next slide, please. The primary reasons to invest in the Cibus share. Well, we produce a high and stable yield. We have never lowered our dividend in EUR per share from one quarter to the next. There is a potential for favorable value growth. As I've said, due to the risk factor, we can always buy small portfolios or single assets to a higher yield than the portfolio is trading at. We have gradually rising monthly dividends, and we have the goal to increase it by 2%. We are in a segment with a long-term resilience and stability. The grocery sector in stable growth for the last 20 years. That's about all for us. Please, if you have any questions, feel free to ask. Thank you. If you do wish to ask question, please press zero-one to your telephone keypad. If you wish to withdraw your question, you may do so by pressing zero-two to cancel. Our first question comes from the line of Svante Krokfors from Nordea. Please go ahead. Yes, good morning, Sverker and Pia-Lena. Svante from Nordea here. Good morning. Good morning. Thank you for taking my questions. First one is regarding the transaction market. Can you comment a bit about what's going on there? Is competition increasing or decreasing, is there any difference between Finland and Sweden? I'd say the market is very stable, which it has been since I started in early 2019. It's more or less the same competitors. The market is more or less the same. What has been a bit extra these last 12 or 18 months is that no one has been able to travel into other countries. Investors from abroad have not been so active on the market, if there is any activity at all. It is a very stable market. Yields are fairly the same. There are no large yield compressions, although we see a bit of movement, especially in Sweden, that there are signs that it might be compressing a bit in Sweden. Otherwise, it's a very stable market, and prospects are there. We have a lot of prospects that we are looking at at the moment. The market is good and stable. Thank you. Perhaps on that note, you now trade at a much closer to 50% EPRA NAV premium, and your implied yield has declined quite a bit. I think you factor in implied yield when you make acquisitions, but how do you make sure that you don't overpay for properties, even though the temptation might be there as your own implied yield is low? As we have two CIOs, one in Sweden and one in Finland, are very keen on making deals. It's one of my tasks to have a steady hand on that. Really, we haven't overpaid for one single property since I started on Cibus, we aim not to overpay this year or in the future either, as the market is very large and there are a lot of properties. When we've seen that prices have gone to a level that we are not prepared to pay, there have been competition from, for example, residential property developers that have bought the property to change the planning permission and build residential on it. They see other totally different metrics than we on that kind of property. There are a lot of properties to look at, we are picky, as you know. We have a clear strategy, it's very important for us that the shareholders can recognize Cibus in the acquisitions we do. We will not overpay for any acquisitions. Okay, thanks. That's a clear answer. We should continue to expect with single assets 6.5 And portfolios perhaps, or six-ish. That's your word, but it's a fairly good guess, yes. Okay, thanks. Perhaps a bit more complicated question regarding the Norwegian online retailer, Oda, entering the Finnish market at the end of this year. What are your thoughts about that? Oda will obviously operate a central distribution model different to Kesko and S-Group, who basically ship it from the stores. What kind of threats do you see here? I just saw a poll on the internet of where people believe that they will buy their groceries for the coming 10 years, or where will you buy your groceries in 10 years, was the question. I think 74% said supermarkets or hypermarkets. That's exactly the same number as when they answered the question, where do you do your shopping today? You had the smaller markets and other stores. I don't think that it won't be a dramatic change, but obviously, of course, the competition from online purchases or online things will increase when they enter the Finnish market. It will be super interesting to see how Kesko and S-Group respond to this, well, you can call it a threat. We'll see what happens. Kesko is your biggest tenant, and they have the retailer model, so I guess it would be more difficult for Kesko to change it to a centralized distribution. Yes. You have to remember that Finland, especially Finland, is a very low density populated country, it's very hard, even if you have a central distribution network or a central distribution hub to deliver food profitable. We'll see what happens. Yeah, just looking at the map with your properties in Finland. Now I don't have the number, you could remind me about that, but the percentage in the Helsinki region or around Tampere and Turku, it's not massive. No, even if two-thirds of our NOI comes from the southwest parts of Finland, and we aim to keep it that way, that's also where Finland is growing population-wise. We have our strategy, and we are very confident in our stores for the coming future. Good. Could you expand out in Finland, outside the S-Group, Kesko, and Tokmanni cluster? Could you take on, let's say the DIY companies? Maybe you want to speak up. DIY companies, but there are other discount retailers. When we look at portfolios, there might always be a Rusta or a Minimani or some other part of the discount business. As I said, our strategy is very clear, and that is to buy and own and manage daily goods and grocery stores. We'll stick to our strategy, and there are a lot of stores left out there to buy. We are confident that the strategy will be successful over the years to come. Okay, thank you. That's all from my side. Thank you. Thank you. The next question comes from the line of Matias Arola from Inderes. Please go ahead. Hi, Sverker and Pia-Lena. Hi, Matias. Hello. Svante already took almost all my questions. I have one left. This is maybe a little bit more to Pia-Lena. If I heard right, you said that the one-offs in admin costs were around EUR 1,000 in the first quarter. EUR 100,000, yeah. Yes. Adjusted for that, the cost level is somewhat high compared to your earnings capacity, and it has been high also in the previous quarters. Is this the so-called new normal level for admin costs? No. Well, administration costs do come a little bit cyclical also. I would say that we might have had higher costs in Q1 than we expect for the rest of the quarter, the rest quarters for the year. Also, we do have some effects that will come also later on where we had signed new contracts, which we had in mind when we did the earnings capacity also budget when it comes to administration of especially the Swedish portfolio. We do believe that our earnings capacity without one-offs is still valid and what we see as a normal costs on our ongoing business. Okay. Should we expect some one-offs to this quarter considering the main list problems? Yes. We will have one-offs in Q2 also when it comes to the listing, yeah. Yes. This was the only question that I had. Thank you so much. Thank you. Thank you. As there are no further questions, I'll hand it back for any closing remarks. Okay. It is time to wrap it up. Thank you all for listening, and as usual, if you have any questions, please reach out to Pia-Lena or myself via mail or telephone, and we will happily answer the questions we can to you. Thanks again for listening and talk to you again in the second quarter when we deliver our Q2 report. Bye. Thank you. Bye.