Thank you. Hello, everyone. Let's start with the first slide number two, showing why we are arguing that we are a social infrastructure champion in Europe. There are five highlights that we use to emphasize. The first one. We have very strong and stable cash flows that are, at the end of the day, backed by AAA countries in the Nordics. Number two, we are a strong, growing company with growth fueled by three value-add strategies that are delivering strong organic growth. Number three, we have been very successful to create strong cash flows and continue to increase dividend to our shareholders. Dividend for last year that we will be paying out this year is SEK 1 per A and B shares, which is increased with 900% since 2017. Number four, we have a very strong financial position and have now all key ratios delivered for BBB+ as we are arguing in the report. Number five, sustainability is the core of our business, also in this report, we are giving flavor on this by different examples from all, how to say, different parts of sustainability, both from energy efficiency, so that we are running the projects where we successfully decrease energy consumption with 50%, to energy productions where we are producing energy from our solar cells. Also important part that often is not discussed in the public debate, our big focus on building in wood as important way to continue to decrease CO2 emissions and continue to support renewable growth. As we also showing in report, we have wood as a very good material from life cycle perspective. Next slide, please. Slide three, you will see our assets. The important message from this slide is that we today are, in terms of GAVs or property portfolio book value, the second-largest listed company in Nordics, passing Castellum this quarter and having SEK 105 billion in portfolio book value. Strong passing rent of SEK 5.7 billion still continue to have a long WAULT of nine years with a relatively high net initial yield. As you can see, 75% of our assets is located in larger cities in the Nordics, 91% of the newly built residentials is located in the larger cities in the Nordics. Slide four, please. In slide four, we are showing our income of SEK 5.7 billion, and you will see that on top of the very strong tenant structure with 98% of the income social infrastructure, nine years WAULT, you will also see that we have increased our income from elderly care homes and LSS. You know, we are targeting to have SEK 1.6 billion in income from this very safe assisted living or assisted residentials. We are targeting increase from SEK 800 million in 2020 to SEK 1.6 billion in 2025. Already now we are passing SEK 1 billion, being at SEK 1.086 billion. Continuing increased income from low-risk assets with 5.5% or 98% of the total income coming from social infrastructure. Slide number five. On top of very strong profit, if you look at our report, and we are delivering profits from property management after adjustments for one-off cost. We are even delivering stronger profit before financial cost of more than SEK 1 billion. On top of this strong profits from property management, we are continuing to deliver profit from our value-add strategies. As you know, we are guiding SEK 1 billion to SEK 1.4 billion from property development, SEK 600 million from establishments or investments in the current portfolio, and SEK 400 million from value-adding transactions. Slide six, please. On this slide, you see how this holistic thinking that we have where we are applying all of four different business areas: property management, property development, and establishments and transactions in a holistic model. At slide seven, a few words about building rights development and new production. We are guiding to deliver SEK 1 billion to SEK 1.4 billion on yearly basis. We are delivering in the first quarter SEK 507 million, and we are also in this quarter becoming the largest property developer in the Nordic with 41,700 apartments at the balance sheet. You can see at slide eight. Slide eight, please. You can see at slide eight that we on top of 41,700 building apartments or building rights for apartments at own balance sheet, we have additional 6,100 apartments in joint ventures and in total 2.9 million sq m of building rights. We have also more than 6,000 apartments that are either in project development for production or in production from management. On top of that, we have additional almost 1,000 apartments in production in joint ventures. This is today stronger recurring revenue that will continue to be delivered in accordance with our guidance of SEK 1 billion-SEK 1.4 billion. As I mentioned, profit for the first quarter was SEK 507 million. Next slide, please. Investment in existing portfolio with a strong focus on sustainability. We are continuing to invest here. You will see at slide 10 that we are, on apartment side, targeting to refurbish 600 apartments. We are already in the first quarter refurbish 200 apartments. We have delivered profit of SEK 155 million from this business area, to be compared with guiding of SEK 600 million on yearly basis. That means slightly over the target also from investments in existing portfolio. At slide 11, emphasis on, as I said in introduction, sustainability as a core part of our business. We are doing also a job on reporting here. We have updated our key ratios in accordance with TCFD. In the first quarter, we also launched our joint venture with Kåpan Pensioner to accelerate housing construction in Stockholm. The focus for the joint venture is to deliver apartments with high level of sustainability. We are continuing to invest in our portfolio. As I mentioned before, we have 22,000 sq m that are under establishments where we are halving energy consumptions, and we are running large investments in installing solar cell. As before, we are targeting to be climate neutral by 2030, and already today we use 100% renewable electricity for all our properties. We are also continuing to do investment in social sustainability also during Q1. Next slide 12, please. Mentioning our value-add transactions. We are in the market almost every day. At slide 13, you can see that in 2019, we did transactions for SEK 64.5 billion. 2020, we did transactions for SEK 28.1 billion. This year, already after a quarter, we have done transactions for SEK 16.7 billion. It's not only that we have done transactions for SEK 16.7 billion, we are also at the same time continuing to strengthen our balance sheet. At slide 14, just an example of our holistic model where we are applying all our value-add strategies on the recurring basis and delivering strong profit to our shareholders. Slide 15, our earnings capacity. We are running rental income of SEK 5.7 billion. Property cost, SEK 1.5 billion. Important here is that we are taking large amount of money invested in maintenance to our balance sheet. Please compare our maintenance, for example, with Castellum or other players, and you will see that we are investing much more in maintenance than other large real estate businesses. NOI SEK 4.1 billion and operating profit of SEK 3.6 billion or SEK 255 per share after the value-add strategies, and after all payments for dividend for equity instruments, excluding A and B shares of SEK 852 million. Here are some additional B shares that were registered at the end of the quarter and some after the end of the quarter. In total, additional SEK 26 million in cost. The total profit is slightly more than SEK 5 billion and SEK 3.56 per class A and B share. That is also why we, in this quarter, are launching a forecast, and we are forecasting that we will deliver earnings per share for 2021 of SEK 5.15 per share, per ordinary A and B class share. Next slide 16, trying to sum it up. As I said, our forecast for 2021 is earnings per ordinary share A and B, estimated to be SEK 5.15. We have a strong and stable cash flow backed by AAA countries. Our profit of SEK 2.7 billion is increased with 99% compared to the last year. If you look and adjust the profit per shares A and B ordinary shares then adjust it for non-recurring cost, then we deliver profit of SEK 1.91 per A and B share. Next paragraph or next highlight, we continue our growth mainly from or with strong support from organic growth, where all three value-add strategies are delivering strong profit. We had SEK 507 million from building right development and new production compared to target of SEK 1 billion-SEK 1.4 billion. We have today a portfolio of almost 3 million sq m, building rights corresponding to 42,000 apartments at on book, plus additional apartments and joint ventures that makes us Nordic region's leading property developer. We continue to deliver strong profit from investments in existing portfolio through refurbishments. In the first quarter, the profit amounted to SEK 155 million to be compared to SEK 600 million guiding on yearly basis. We also have strong pace on refurbishments of the apartments. We refurbished 200 apartments in Q1 comparing to the target of 600 apartments on yearly basis, also at the same time being able to prepare new apartments for refurbishment. Finally, we have today one of the strongest balance sheets in Nordics with all key ratios for BBB+ rating delivered. In the first quarter, we strengthen our equity with SEK 5.8 billion. Last 12, 15 months, we are strengthen our equity with very large amount, almost doubled. Despite competition of SEK 10 billion transaction to acquire Offentliga Hus, we have been able to significant reduction of our loan to value ratio and continuing to deliver. It is also important here that Offentliga Hus profit is just affecting our profit with SEK 10 billion. We count profit just only on one month. Taking into account all of the income from Offentliga Hus, both our income and our NOI and our profit will be higher. This is even more clear looking at our earnings capacity numbers. At the end of the Q1, our pro forma net debt adjusted for cash inflows from properties that have been sold but not yet transferred from liquid financial assets and 12 months earnings dividend by total capital in accordance with S&P's definition of the loan to value ratio amounted to 48%, which is very strong, in line with the BBB+ rating. At the end of the quarter, we had net debt related to net debt to equity at 51%, despite, as I said, consolidating Offentliga Hus transaction. To summarize on the report of key ratios, we have a strong BBB flat rating today. Given that the rating should be forward-looking according to our calculations, we have fulfilled the key ratios most significant for BBB+ rating. Here should be added that our ICR was 4.8 x at the end of Q1. To sum it up, strong profit from all business areas, strong financial position, and guiding through forecast that we for 2021 are estimated to deliver earnings per ordinary share A and B to be SEK 5.15 per share. Thank you. Please, questions. Ladies and gentlemen, if you have a question for the speakers, please press zero one on your telephone keypad now. If you wish to withdraw your question, you may do so by pressing zero two to cancel. Once again, if you have a question for the speaker, please press zero one on your telephone keypad now. Our first question comes from the line of Fredrik Cyon of Carnegie. Please go ahead. Your line is now open. Good morning, Ilija. A couple of questions. Starting off with the surplus value that you mentioned. You did an external valuation post the end of the first quarter, and you're stating that it's additional SEK 1 billion to be added to the book value within the next 12 months. That number was SEK 1.2 billion, if I'm not mistaken, following the Q4 report. How much of that SEK 1.2 billion has already been taken account in Q1, and how much is new additional surplus value? I think it has been taken into account, like SEK 300 million, and it is like SEK 100 million that is new one. Okay. The majority is from what you already stated in Q4. That is it. Yeah. From the last quarter, we had SEK 1.2 billion and SEK 900 is left, and SEK 300 is taking into account in this quarter. Very clear. Moving over to results from JVs, it was SEK 244 million in the first quarter. How much of that is actually cash flow? I would assume that it's perhaps SEK 40 million approximately. Is that accurate? The cash flow from our joint venture is around slightly above SEK 40 million for the first quarter. We also have some dividends that will come in second quarter. Then regarding paid tax going forward, what are you guiding towards on actual paid tax with the current portfolio? If you look for the first quarter, we paid SEK 92 million in taxes, and we should be paying, in order to be very clear, our profit from property management of SEK 3.5 billions, and our tax on that should be on a yearly basis around SEK 270, SEK 300 millions. Perfect. Then two additional questions, if I may. Moving over to rating outlook, you said that based on your calculations, you are up for an upgrade. Have you gotten any indications of when that might occur from the rating agencies, or is it just based on your own calculations, so to speak? Our job is to deliver our work, and then it's up to rating agencies to act on that. We have seen last two quarters, both Fitch and S&P upgraded us to positive outlook, and now we are waiting for reaction to reports. Okay, you don't have a clear timeline on when we should expect something happening from that side? It is always difficult. The only timeline we use to have is for ourselves. We can never have timeline for other people. Okay. I understand that. Finally, on goodwill, I couldn't see much change related to the Offentliga Hus acquisition. Why is that? Didn't seem to impact the goodwill position. Offentliga Hus is asset acquisition. That is the difference. As you know, Fredrik, we always want to do the asset acquisition because that is what we actually do. In terms of Hemfosa, we needed to have it as, how to say, company or ongoing business acquisition, which is then resulting in goodwill. On Offentliga Hus, because we are acquiring assets, we will not have any goodwill. Thank you very much for answering my question, Ilija. Thank you. Our next question comes from the line of Oliver Carruthers of Goldman Sachs. Please go ahead. Your line is now open. Hi, Ilija and team, and thank you very much for the presentation. Just to follow up on that first question there on the taxes. You're saying this should be SEK 270 million- SEK 300 million per annum. Is that cash taxes paid, and will that include taxes on asset disposals as well in there? We don't pay taxes on our asset disposal. Okay. That is total paid tax. There's no realization of the deferred component coming through in that SEK 270 million-SEK 300 million? No. That is just, how to say, accounting. The deferred tax and realization of deferred tax is just accounting. Okay. To confirm on a cash basis, you think you will be paying SEK 270 million-SEK 300 million? We used to publish in our reports this sensitivity analysis at page 46, appendix four. We have just as illustration that will be SEK 347 million. My assessment is that it should be around SEK 270 million-SEK 300 million. It is out. Okay. On the central administration costs, in the context of your, I guess SEK 63 million recognized for this quarter and the earnings capacity guidance of SEK 153 million, when should we expect to get down to this, I guess, quarterly level of SEK 37.5 million per quarter? This is mainly that it's SEK 150 million or SEK 153 million on a yearly basis in our people working with central administration. That is what our costs are. However given the transactions, it is good for us and you have some transaction costs through central administration. We are not worrying about that. Our view on that is that difference should always be matched with much higher profit from either sales or from value changes. Okay. Just to be clear, the difference is only related to transaction business, and this quarter we did transactions for almost SEK 70 billion. Okay. To be clear on that, the SEK 150 million essentially assumes no transactions, and if you are to do transactions in a given quarter, we should assume that it comes in at an elevated rate? Assumes transaction level of the normal Swedish or normal European countries. Okay. SEK 150 million we should be able to do average. If we do better than average, then it is beneficial for us to have some costs that are higher than that. Okay. One final question on the SEK 244 million JV income line. You mentioned earlier that just above SEK 40 million of that was cash flow. Can you give context on what the remaining SEK 200 million was? The remaining is actually realized sales and unrealized value gains. Our actual profit is higher than this, I think it's SEK 40 million-SEK 50 million that is, how to say, cash related. We have also dividends from some of these joint ventures that are coming in the next quarter. Okay. All right. Thank you very much. Our next question comes from the line of Fredrik Stensved of Pareto Securities. Please go ahead. Your line is now open. Thank you. Morning, Ilija. I would like to start off with a question related to your CEO statement. You mentioned that obviously growth opportunities in the Nordics remain, but it also seems like you indicate sort of an opportunity to be a European player. Do you look to expand outside of the Nordics? If so, which countries are of interest? Thanks, Fredrik. Yes, we are currently building infrastructure outside of the Nordics and looking at largest European countries and at our core businesses which are assisted living for elderly people and people with disability and this infrastructure. That is absolutely so. In this quarter we passed Castellum as to becoming the next largest player in Nordics, and that means that we should be able to continue our growth and to strengthen our position as a European champion in social infrastructure. All right. Should we interpret that as, do you expect any acquisitions out of Nordics in 2021, or is this further ahead into the future? We will always do acquisitions. We will come back to that. You should interpret that we are saying that we are building infrastructure in Europe, and when we do that is what we should continue to grow. Okay. That's clear. Thank you. Then on the like-for-like rental growth amounted to 0.2% in the quarter. Is it possible to- That is possible because we don't have increasing rents in our residential portfolio and some switches to property development. We should be back on track I think already in the next quarter or in Q3 by passing inflation plus one. That is what our like growth is. It's at least inflation plus 1%. Okay. Thank you. Final question. We have an election coming up in 2022 in Sweden. When is the window of opportunity to acquire properties from municipalities and similar actors closed? Yeah, that is very important point. That is why our organic growth is very important in 2022, because municipality will close already November this year. Then they start the internal processes, and then it's closed in 2022. For us, having position with strong building rights portfolio and with strong organic growth, and also infrastructure in other countries will make sure so our growth will not be affected. The growth in Sweden will be probably less from acquisitions in 2022. It will be mainly from organic growth and acquisitions in other countries. All right. That's all from me. Thank you. Thank you. Our next question comes from the line of Bertil Nilsson of Carlsquare. Please go ahead. Yes. My first question relates to what already been mentioned around those SEK 1 billion, which is identified value changes after March 31st this year. Is that the mainly effect of, let's say, underestimation of the long rental contracts or a yield shift, or both? No, that is not related to that. It is related to that those are the properties that will be finished in terms of that the building of the property will be finished or that the new contract will start. It's mainly related to the assets fully coming in on balance sheet. Okay. A second question, if you look at slightly down in the report, it's a comparison of yields 4.3% for SBB with some transactions and, for instance, a police house 3.4%. Bertil, I said that before, it is a really crazy thing that SBB is having 4.3% in net initial yield when the transactions are done at 2.5% or even elderly care homes at 2.2%. If you look at our German counterparties that are averaging 2.75%. I will argue that we have in many positions, both better assets, stronger cash flows, longer leases. However, given our strong growth, the values are not catching up. If I have to value my portfolio today, I should value it at least 100, 125 basis points more or less. That means that we have very strong value upside going forward. We are in this in long term, we are not rushing. We have seen before the companies changing valuers and doing everything in once. We have seen before people buying out companies because of being, how to say, being disturbed with this. We have the largest real estate businesses in Sweden are doing valuations by themselves. As a young company, we have decided to do external valuation every quarter, and that is, of course, punishing us. We think this is long run issue. Okay. Last question. How about, let's say, investment prospects for the police? You mentioned police houses and so on. How's the outlook there? There is some pipeline in organic growth there. I think we are currently building four police stations on the book and one in joint ventures, and we are also rebuilding one in Finland. Particular growth that you see is in elderly care homes, where we are continuing to strengthen our position. I think we should be able to do more transactions in elderly care homes, schools, continuing to de-risk portfolio, and continue to build this kind of very secure income from most demanding assets. Okay, thank you. Thank you. Our next question comes from the line of Axel Ohlsson of Nordic Property News. Please go ahead. Great. Hi, Ilija. Looking over the report and the property value by geography, you are still quite significantly smaller in Denmark than the rest of the Nordic countries. How do you see yourself developing the company in Denmark going forward? We are building our position in Denmark for every day. Actually, I think I signed yesterday evening. We are doing transactions every day. We are a team of 300 professionals, and despite many people thinking that we are sending out a lot of press releases, and we could send two press releases per day. I think I signed yesterday evening on a small deal in Denmark, and I think this morning I sent an LOI in another small deal in Denmark, and I think we should have some news in Danish real estate media today or tomorrow. We see that we are building for every day larger and stronger position in Denmark, both on the school side but also on the side of assisted living in terms of elderly care and LSS. Okay. For 2021, do you have a figure of where you think your property value in Denmark will be at the turn of the year? I think we should be able to double our portfolio in Denmark. You saw that at the end of Q1, we had SEK 1 billion in assets in Denmark. We should be able to pass SEK 2 billion in this year. Great. Looking at the Danish geography, is it Copenhagen or some other regional cities that are the most interesting to you? Of course, Copenhagen is the main city for us, as for everyone. You have in Denmark, and that is like almost in all countries, you have three, four large cities, and that is where we are. That is where we have infrastructure, and that is where we do all transactions. That was all my questions. Thank you so much. Thank you. Our next question comes from the line of Simen Mortensen of DNB Markets. Please go ahead. Your line is now open. Hi, Ilija. I have two questions on my side. Most sadly, all have really been asked. I saw in the report that in terms of cash and cash equivalents, it now included listed shares, most likely the SEK 6 billion included in Entra. Is there a strategic reason why these are now considered as cash and not as financial investments? Simen, those cash equivalents are not including, of course, Entra. As you know, we have a flag that we have passed 5%, but they are also including other liquid investments. This is related to that all of those shares are on possibility to be sold every day. We don't have any board representations. We don't have any long-term view on those assets. It's pure financial placement that can be turned to cash every day. Okay. My second question was about what you said about the CapEx and maintenance levels in the portfolio. If you just can repeat, I fell a bit off when you told it. When I look, you said you had a very high level. Did you take it over the P&L, your maintenance cost? When I look at your earnings capacity, you have SEK 287 million worth it, which is roughly 27 basis points of your asset values, or just below SEK 63 per sq m. Could you just tell us how do you actually account for maintenance and CapEx, and how it flows through the balance sheets, the cash flow and P&L? Always easiest to compare with the peers. Please compare with Castellum. That is the easiest because it is the same amount of the assets. Okay. Those are my questions. Thank you. Thank you. Thank you, ladies and gentlemen. Once again, I remind you, if you do have a question for the speakers, please press zero one on your telephone keypad now. Well, at this stage, we currently have no further registered questions. I'll hand back to the speakers for any further remarks. We have received one written email. Again, it's been touched upon earlier. When do you expect BBB+ to be achieved? Our assessment is that we have key ratios for BBB+ already today. We are expecting to be upgraded as soon as it's possible. At the end of the day, it is rating agencies, and it is also for our investors to see what kind of key ratios we are delivering, we have to wait how rating agencies view this. Important message from our side is that we are going to run our business with key ratios for BBB+. That is our take. We are running business having strong balance sheet. It is actually one of the highest unencumbered ratios in Europe. We have 3 x covered, which is compared to a carrier that is below 2 x, or compared to some other U.K. players that are slightly above 2 x, and get strong recognition for that. We are more than 3 x. We have ICR of 4.8 x. We have the safest cash flows in Europe, being only company in Europe in 2020 delivering almost 100% of income. We think this should be acknowledged by rating agencies. On top of that, we also de-risk the portfolio by increasing the level of income coming from residentials, elderly care homes, and LSS. For elderly care homes and LSS, we increased from 2020 SEK 800 million to 2021 first quarter, SEK 1.1 billion. We have to wait. Thank you, Ilija. I would ask Ilija to sum up this first quarter 2021 results. Thanks, Marika. Summing up is that we are estimated and having forecast for the full year 2021 to deliver earnings per ordinary share A and B of SEK 5.15 per share. We are also emphasizing that we are achieved all key ratios for BBB+ rating, and we will continue to grow, delivering income from property management and our value add strategies, and continue to build a larger portfolio, but still having strong key ratios for BBB+ rating. Thank you very much. Thank you all. Bye.