Bonava AB (publ) (BONAV_A) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and a very warm welcome to the presentation of Bonava's Q2 report, an eventful quarter with improved profitability, and we did a refinancing in the beginning of July. My name is Anna-Falk Silund, and I'm head of investor relations here at Bonava, and with me here today, we have our CEO, Peter Wallin, and our CFO, John Johnson. They will take you through the highlight of this report, and we will end with a Q&A session. And you can start already now to type in your questions, and I will read them out at the end. And with that, I leave the word over to you, Peter. Thank you very much, Anna. And good morning on this fantastic, beautiful summer day. We also have a very beautiful project in front of you, which is Klockaren in Uppsala. which we started in the second quarter. So, let me start by walking you through the market development. We have the quite boring title, perhaps, stable market development as a headline here, but underneath that is sort of a threshold hidden in terms of continued strong market in the Baltics and an improved market in Sweden. where we see both increases in activity levels as well as prices. And overall, in all our markets, this is of course thanks to the support that we get from high disposable income and a pent-up demand for housing. But then in Germany, we have a little bit of hard to analyze the market right now, and it's partially because it's impacted by higher long-term interest rates. And this is because the inflationary impulses has increased the long-term interest rates in the wake of the Iran conflict. And for the German investors, which are consumers, which are normally, they are borrowing less money and they are borrowing much longer durations than what is typically done in the Nordic markets. And that means ...