Good morning. Here with me, I have Ylva Sarby Westman and myself, Biljana Pehrsson. Welcome to our first half-year presentation, and welcome also to visit digitally our new headquarters in the Rotterdam District. We are here seated in what is our kitchen and dining area. Behind me, you see our entrance to our new headquarters in the Rotterdam District, which is shown on this page, the property that you see on the first page, that is the Rotterdam District. If we start with the presentation. All in all, we have a good first half-year, and the outlook ahead is brighter with upgraded GDP forecast for this year and also for next year. If we look at our performance for the first half-year, you can see that we have increased the profits from property management by 6% to SEK 650 million. It's mainly driven by the rental like-for-like growth of 3%. The like-for-like growth of the NOI was 5%, so we have managed to reduce our operating costs. Combined with the lower central administrative cost as well as financial cost, that arrives to an increase of profits from property management by 6%. During this first half year, we have invested SEK 560 million into our projects and properties. On top of that, we have roughly SEK 1.4 billion of value uplift. That together brings us to a property value per last of June of SEK 42.5 billion, an increase by 8% compared to the same period last year. That gives us even better LTV, that is now 44.1%. If we take a look at our main activities in the half year, you see here that the rental markets have definitely come back this year. The bounce back is strongest in Stockholm so far. We expect that our core markets in Gothenburg, Malmö, and Västerås will also see a strong pickup onwards. In the first six months of this year, we managed to sign 154 new leases corresponding to a rental value of SEK 95 million, which is stronger than for the corresponding period last year. The net leasing amounted SEK 11 million for the period. All of the new leases, more or less, are signed on higher rents per square meter than the previous lease agreement or the vacancy rate. That is also one of the drivers for the stronger rent per square meter development that we have. We have a very strong pipeline onwards. If we look at the renegotiations, also here, we managed to continue to renegotiate a large amount of existing leases. On the right side, you see the maturity structure in our lease portfolio, and you can see that between SEK 300 million-SEK 400 million of existing leases mature every year. Those are the ones that we renegotiate every day, so to say. For the first half year, we managed to renegotiate existing leases amounting SEK 147 million, and the average uplift was 8%. What is also interesting is that more than 1/5 of the renegotiated existing lease agreements, the tenant choose to add on more space to their existing space. One of the new leases that we did was in our cluster in Finnslätten in Västerås. We are truly starting to realize on our vision for Finnslätten. We have been working with the vision for two years, our goal is to achieve and create an attractive and sustainable place for world-leading high-tech companies and their employees in Finnslätten, Västerås, together with our big tenants and customers, ABB, Hitachi, Northvolt, and so forth. In line with our vision, we have, together with Municipality of Västerås, worked out a new master plan for Finnslätten that will allow the area to grow from today having 5,000 workplaces to 40,000 workplaces. On top of that, we want to bring education to this location, everything from elementary school, college, and even university. On top of that, we want to make this area more lively by adding on residential buildings as well. In line with the vision, we have also got a land allotment for a new logistic hub in the north part of Finnslätten with 40,000 building rights. In that land allotment, we have signed a 15-year lease agreement with AA Logistik, 32,000 sq m, and a rental value annual of SEK 21 million. This is a fantastic lease that we have signed. AA Logistik are today an existing tenant in Finnslätten. They lease today 18,000 sq m that represent an annual value of SEK 12 million. This is a big growth in their business and also in their premises. This investment, we are now in the process of doing the detailed planning for it, but we roughly estimate the investment volume to be around SEK 450 million. If we take a next step, if we look all in all, new lettings, renegotiations, developments that are being completed, tenants moving in, those are the main drivers behind our average rent in investment properties growing by 4% in 12 months time to SEK 1,537 per sq m. Since 2018, our average rent per sq m in investment properties has grown by more than 25%, which is very good, and the surplus ratio is slightly better than previous period, 69.2%. All in all, the positive changes we see in rental income and operating net is also the main driver behind our value uplifts together with a change in yield requirements. In the period, we have a value uplift of SEK 1.4 billion. Our valuation yield on average stands 5%. Since Q4 2020, the yield contraction is 9 basis points, a healthy value uplift in our portfolio. Of course, also driven by a fantastic transactional market that we have this year, which is expected to take a record high level on the volume. If we look at the large ongoing development projects, we have six of them. Total investment volume is SEK 1.4 billion. When fully completed and rented out, the rental value is SEK 227 million. As you can see, the occupancy rate is 69%. The ones that are front runners are Eden by Kungsleden in Hyllie and Stettin 6 in our cluster here in Värtan, that in Stockholm City East. A little bit more about the Rotterdam district, which is also one of our development projects. Here we have moved our headquarters from being located in our cluster in Stockholm City West now to the east side. Our office is made in line with our Symbiotic office concept that is focusing on four core elements: humanity, nature, service, and smart digital solutions. Our office is to be used as showroom and inspiration for our tenants, for our potential new tenants, and others that are visiting us. I hope to see you all soon here again. If we look at our sustainability goals, we continue to deliver. We have reduced our energy consumption by 1.4% over the period. We have signed 73 green lease agreements. We continue to certify our properties, and it's now 45% of the property value, and our green financing is growing to 42% so far. Our customers are as shown here, the 10 largest. We have 1,600 unique customers and tenants, and they represent everything from small startups to large blue-chip companies such as ABB and everything in between. Our largest tenants, as shown on this picture, represent 21% of our rental value and have an average lease duration of five years. 80% of the total rental value of SEK 2.5 billion comes from public tenants. Also, as you can see on the 10 top list, we have a lot of public tenants, such as the Swedish Social Insurance Agency, Municipality of Västerås, as well as Municipality of Stockholm. The average lease duration for the whole portfolio is 4.1 years. Our properties are located in right location in our four core markets where we see a good demand for commercial space. 90% of the property value is located in Stockholm, Gothenburg, Malmö, and Västerås. If we look at the split in category, you will see that offices represent roughly 73% of the value, while industrial warehouse and logistic represent 17% of the property value. If we take a closer look to our office properties, the GLA of the office portfolio is 1 million sq m. We have a rental value of SEK 1.8 billion in that portfolio and an occupancy rate of 92% on average. The largest tenants are more or less the same as we have in the total portfolio. As we have mentioned before, we have a healthy rent upside potential in our offices and as shown here are clusters that we have, where you can see that we continue to have a healthy rent value potential of between 10%-40% in our clusters where we have offices. If we take a look at our industrial warehouse and logistic portfolio, that part represents 17% of property value and 20% of the rental value, 600,000 sq m of GLA, with a rental value of SEK 0.5 billion and an occupancy rate of 95%. Shown on this page, you also see the five largest tenants within this category. Also here we have a good rent value potential. As you can see, shown here are our clusters where we have industrial warehouse logistics properties. It's in Finnslätten in Västerås, Fosie in Malmö, and Högsbo in Gothenburg. These clusters have a rent upside potential of up to 80%, which is fantastic, and this is what we will try to catch up in time by doing renegotiations and by leasing out vacancies that we have. Also striving to get land allotments as we did now in Finnslätten to be able to build new properties as well in these locations. With this, I will hand over to Ylva. Thank you very much, Biljana. As you have heard, we continue to deliver strong results with positive net leasing and increasing rents. Profit from property management increased by 6% to SEK 650 million, mainly explained by higher revenue and lower administrative costs. Total revenue increased with SEK 24 million as a result of successful new leasing, renegotiations, and indexation. We have managed to reduce our administrative costs with SEK 6 million- SEK 47 million due to lower personal costs after reorganization. Net financial items amounted SEK 187 million compared to SEK 189 million last year. The decrease is explained by lower average interest rates and borrowing costs of SEK 6 million attributable to projects being capitalized during the period. Changes in value on financial instruments was positive, SEK 131 million, compared to -SEK 121 million last year, as a consequence of interest rates on longer maturities increasing in the period. The total tax expense for the period was SEK 444 million, of which SEK 0 is current tax. Net profit was SEK 1.7 billion compared to SEK 573 million corresponding period last year. The increase is mainly due to positive value changes in the property portfolio. We have a strong financial position. The LTV has continued to decrease to 44.1% compared to 45.3% last year. The share of green funding has increased from 38%- 42%. We have a total loan volume of approximately SEK 20 billion and a well-diversified funding mix with 47% bond loans and 31% traditional bank loans. The share of unencumbered assets are 33%. We are actively working to increase that ratio since we are targeting an upgrade of our investment grade rating one a notch. We have a strong liquidity position that has been improved further during the period. We have cash and credit facilities of SEK 3.8 billion that can handle all remaining loan maturities during this and next year. In March, we extended an agreement and also expanded an existing loan facility with Nykredit with a term of 10 years. The average debt maturity of the total loan portfolio increased to 3.9 years. The average fixed interest term was 3.2 years. The interest coverage ratio increased to 4.7x. The average interest rate remains at 1.8%. Our long-term asset value, the EPRA NRV, increased with 10% to SEK 105.88 million, mainly explained by a growing profit from property management and also positive value changes in the property portfolio. We have a strong balance sheet, and we have strengthened it further during the period. With this, we end the Q2 reporting, and I will hand over to you, Biljana, to present our outlook. Thank you, Ylva. The outlook for the Swedish economy is very good, and the GDP forecast that is in the market is saying that the bounce back will be strong, and we will see a GDP growth of between 4.4% up to 4.7% this year, and those are very strong numbers. For next year, the GDP growth is expected to be around 3.6%. This is truly the main driver behind future demand for commercial space. As you can see on this page, Newsec is definitely expecting a return of offices, the vacancy in our four core markets are expected to flatten. It only goes in the market where the vacancy is expected to further grow in 2022. Rents are also expected to grow starting from next year, and the main explanation is the expected growth in the economy. If you look at the logistic industrial warehouse market, the same goes there. Slowly increasing rents are expected while the vacancies remain flat or are even lowered in Stockholm market, as expected for this year and next year. If we take a closer look at the transactional market, as I mentioned in the beginning, the volume up until today is SEK 140 billion, and there is big activity in the market. There's a big interest from investors to do transactions, the volume for this year is expected to end up at record high levels. We clearly see that also, we have also been trying to do some kind of add-on acquisitions, and it's a tough competition. All in all, we have a positive outlook onwards, and again, as I mentioned in the beginning, the pickup is happening in Stockholm, and we expect it to also gain speed in our other three core markets, Gothenburg, Malmö, and Västerås. Our investment program continues to deliver. As you know, we have in our plan this year and onwards to invest SEK 1.4 billion annual in profitable large development projects, as well as tenant improvements and other value-creating investments. Far this year, we have invested SEK 560 million, as you know, we have targets to achieve an IRR of 9% or more, or if measured as yield on cost of 6% or more, on top of that, TIs are to be paid back in half of the lease term. If we take a look at our building rights potential, we have in this second quarter successfully sold three residential building rights that we have, 32,000 sq m in Veddesta in Stockholm at the price of SEK 8,000 per sq m, 15,000 sq m of residential building rights in Västerås, Finnslätten, in line with the vision to add resi in that location at the price of SEK 2,000 per sq m. Then we have sold another 4,000 sq m of building rights potential in Norrköping at the price of SEK 4,100 per sq m. In the second quarter, we are also happy that the zoning plan for the previously sold building rights of residential in Gothenburg, Stjärnljus, were completed, 20,000 sq m. We will divest that and get paid in the third quarter. All in all, these four divestments we have made of the residential building rights are generating a gain of more than SEK 200 million, of which we have taken up SEK 90 million roughly this quarter. The remaining will be done in the third quarter. As you can see, we still have a very strong pipeline, both within residential building rights that we will continue to divest, as well as commercial building rights that we will, of course, develop onwards. On top of what we show here for the commercial building rights of 605,000 sq m, we have now, as I mentioned, in Finnslätten gotten another 40,000 sq m of building rights in Finnslätten. To summarize, our focus is to grow our business, to grow our profits from property management, and to grow our property value. We remain confident that we will manage to achieve this, and I hope much earlier than 2025. Now we can open up for questions. Yes. Before we start our Q&A session, I would like to remind you that we have a telephone conference. If you did not already dial into that, please do so now. This is for those of you who want to ask your questions live. There's also possibility to post your questions in the question box just under the screen that you see. Actually, I have a couple of questions already there, so I may start with one of them, and this one is from Niklas Wetterling from DNB. "Biljana Pehrsson, you mentioned that 12 out of 52 renegotiated contracts resulted in increased leased area. How many resulted in decreased leased area? We actually, in this period, did not have any that were decreasing, but only increasing. We have been measuring this for two years now, last year it was roughly a net effect of those decreasing, increasing was still positive by a couple of SEK billions. This is a strong trend that we see for this year. I will take just another question from the written question. This one is from Lucy Plathard from Green Street. "What is the industrial versus office contribution to total releasing spread, and like-for-like portfolio revaluation? Good question. If we look at the renegotiations and new lettings, it's roughly the same amount as the property portfolio itself. Roughly 70% is offices, 20% is within industrial warehouse logistic on average. When it comes to value, Ylva? Yes. When it comes to value uplift, we see a stronger uplift from the industrial warehouse logistic part of the portfolio, also from the office properties. As Biljana Pehrsson said, SEK 90 million from sold residential building rights, properties with resi building rights. Lucy Plathard has a second question, which is, which cluster or region are you expecting to outperform others? Where do you expect new lettings to be the strongest? Good question. I think we have good momentum in the Stockholm market in general. If I were to pick one cluster where there is a lot going on, I would definitely say Finnslätten and Västerås. Lucy Plathard has 1/3 question, so just stay tuned, those of you who are waiting in the telephone conference. This is how the capital value of SEK 8,000 per sq m building right in Järfälla compare versus book value? Yes, I can answer. Yeah. The price was SEK 8,000. SEK 8,000, okay yeah. Square meter. We sold 32,000 sq m in Veddesta. The positive effect from that transaction was plus SEK 140 million. That's the positive and that's the difference between the book value and the price, yeah. Thank you, Ylva. There are more questions here in the question box. I will hand over to the operator at the telephone conference and stay tuned for the more written questions. Thank you. If you have a question for the speakers, please press zero on your telephone keypad now. We have a question from Fredrik Stensved from ABG Sundal Collier. Please go ahead. Your line is now open. Good morning. Two questions from my side. I'll take them at once, you can answer both of them. Starting off with the investment volume portfolio, you have guided towards SEK 1.4 billion, you're certainly running below that pace in the first half of this year. Any reasons why we should expect a material change in the second half? That's the first question. The second question, relating to the two major projects that are set to be completed in the second half of this year, Eden in Malmö and Platin in Stockholm. Are there any initial discounts, should we expect that these two projects will fully flip through in rental income during the coming quarters? Thank you. Yeah, good question. We expect that towards end of this year, we will invest SEK 1.4 billion. If you take a closer look year- by- year, usually fourth quarter, we have the highest investment made. That is basically how it is. It's always slower start at the beginning, and most of the investment and the bills arrives in the fourth quarter. We expect to arrive to SEK 1.4 billion at end of this year. That was for the investment program. When it comes to Eden and Stettin 6 or Tegeluddshagen 100, we do not have, as I recall it, any major discounts to the leases. Roughly as the tenants move in, we should get the rents. Is that primarily by the end of the year, or is this similarly throughout the next year? Yeah. If we think about that. Yes. Eden tenants, the 85% that is pre-let, all of them will move in by end of this year. You can count on from next year those will pay full rent, so to say. Stettin 6 there we have tenants already moved in this year, and the remaining part there is some tenant that will move in next year. Okay, thank you. Those were my questions. Thank you. Thank you. As another reminder, if you do wish to ask a question, please press zero one on your telephone keypad now. Okay, there appear to be no further audio questions at this time. Okay, I still have some questions here, written questions, and this one is from David Johansson, private investor. Could you expand your thoughts on the rental market in Stockholm picking up? What is it that you see? Well, what we see is more potential tenants reaching out, searching for premises, and we have more showing of office premises and other premises. That is a clear indicator that there is a bigger activity and bigger interest in the market. That is one thing. Another thing is that we have signed many leases in this period, and many of them have been in Stockholm, we measure that as well. The third part is our pipeline. As I mentioned, we have a very strong pipeline, we measure basically our pipeline, what has 50% up to 75% probability of being a completed lease agreement in the end. In order to tick the 50% box, we have to have sent over some kind of a lease proposal. That is how we measure our pipeline, and the pipeline is very strong. That's how we can see on the ground that there is a pickup in the rental market in Stockholm and also our other markets. We expect that to happen towards the second half of this year. The second question from David Johansson, is there any difference between the different clusters in Stockholm? David is especially interested in Kista. Yeah. There is small differences. I think in general the pickup is happening in all of our five clusters in Stockholm. Since the pickup started first with smaller companies, mid-size companies, those that can more quickly change their perspective and go out there and make decisions, that we can see clearly in Danderyd where we have predominantly those kind of tenants. In next phase, we see bigger companies also showing activity interest to relocate or to expand or look over the needs for commercial space. When it comes to Kista, we do have activities there as well, but we still have our highest vacancy in Kista. This is definitely something we are focusing on to take down the vacancy we have in Kista. I hope that we can also lease out our development project that we have there, a:place, which we are working on right now. Great. Then there is a question from Staffan Bülow, Nordea. Just a comment from me here. You've been saying, Biljana Pehrsson, that you are very positive this first half year and going forward, still there are questions now concerning should we be in any way worried? This one is: Do you find it more difficult to start office projects now owing to the tenants are hesitant? The tenants have been hesitant definitely. Last year it was a lot of thinking what will happen and so forth. I think right now we see definitely that we are coming out from that mood and more thinking onwards and having a much more positive outlook, both in the market in general, but also with the companies. What we clearly can see is that the pandemic has affected businesses very differently. There are few businesses such as hotels, travel industry, etc, that has been severely affected negatively by the pandemic. Those businesses represent only maybe around 3% of the GDP in Sweden, while the vast majority of companies have actually managed quite well or even improved their performance. Since we have most of the other category in our portfolio, we definitely see that they are being more active, they see a brighter future, they plan for developing the business, growing the business, and thereby they also have to have more space. Growth in the economy is definitely the strongest driver behind future demand on commercial space. Everything for offices, logistics, warehouse, industrial, the growth is really the key driver. Since we do expect a strong pickup in Swedish economy of more than 4%, I don't think I have ever been in such a strong market. That is very good, and that's why we are very positive on our outlook onwards. Some more dwelling from Staffan Bülow concerning projects. Could project margins be affected given the price hikes that we've been seeing on wood materials and steel margins? Very good question. So far, our development projects that are under construction has not been affected. We have also, in some of our constructions, fixed prices. Of course, this is a challenge that we are faced with, and we will just try to make our way in the best way we can. Now another topic, same Staffan Bülow here. How large proportion of your commercial building rights relates to logistics and warehouses? Good question. We have actually not made that breakdown, but as I have mentioned before, the front runners that we have in the pipeline is very much within industrial logistics. Of course, the new logistic facility that we will build in Finnslätten in Västerås for AA Logistik is what we have had in the pipeline as front runner. We haven't done the breakdown. Maybe we should do that afterwards. For next time. Yes. Concerning the breakdown, where is the location of these building rights? Well, the location, as you can see, is Stockholm, Göteborg, Malmö, Västerås primarily. Okay. Still another question from Staffan Bülow. We see a slowdown in the net letting figure for the second quarter, with net letting of SEK 2 million compared to SEK 9 million in Q1. How come? Do you think the tenants are still hesitant of signing new contracts? We've been into this, but I still ask it. Yeah. No, I wouldn't draw any major conclusions of that. I have said this before, from quarter to quarter, it can really go up and down. Sometimes you manage to sign a big lease, sometimes you don't. I think the trend is more important, and the trend is that we have had positive net leasing for three years now, and we have had it during the pandemic year, and we have had it for 11, I think, quarters with this quarter. I think the trend is more important than trying to explain why Q2 was only SEK 2 million and Q1 was SEK 9 million. Okay, I have one last question here, and it's from Johan Edberg, Handelsbanken. He just wants to have a fact confirmed. Equity in Q2 is reduced by the full decided dividend amount. Please confirm you are not adjusting the reported Q2 2021 EPRA NRV for that. Yes, absolutely. The dividend is taken into account in the asset value in the Q2. Okay, great. I just want to check with the telephone conference if anyone else has come up with more questions there. There appear to be no audio questions. Okay, well then, thank you for listening to us, and have a great summer and see you back in August. Thank you. Thank you. Thank you.