Atrium Ljungberg AB (publ) (ATRLJ_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to this live quarterly report presentation for the first quarter of 2025 with real estate company Atrium Ljungberg. Presenters today are CEO Annika Ånäs and CFO Anna Jeppsson. And by that, please go ahead with the presentation, Annika. Thank you very much. The headline for this report is stable performance and strong financial position in an unpredictable world. I would like to begin by summarizing the main content of this report. Overall, it's a quarter in line with our own expectations as well as the market expectations. Our net letting amounted to positive 23 million in the first quarter. I will come back to this in more detail later. Our profit from property management decreased by 12%. The biggest effect are that we last year sold properties to strengthen our balance sheet and that our interest rates have increased. The operating surplus in the like-for-like portfolio increased by 2%. The property value increased by 179 million or 0.3%. The change consists of increased cash flows as we have not adjusted the yield requirements during the quarter. The property value was 59 billion in the end of the quarter. We have ongoing projects with an investment of 9.5 billion, of which 6.1 billion remains to be invested. During the first quarter, we invested 600 million in our own properties. Our focus is primarily Stockholm with 80% of the property value. If we look at the portfolio composition, it consists of 66% of the value of offices and 20% retail. Vacancy was 9% and our LTV was 42%. And then some comments on the market. The uncertainty in the world naturally affects everything and everyone. Companies find it difficult to plan and make investment decisions under current conditions. Consumption started relatively well in January, but slowed down in February as h...