Castellum AB (publ) (CAST) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to this presentation of the Q1 report. There will be a Q&A session in the end of the podcast. And if you'd like to ask a question by phone, please dial pound key five on the telephone keypad and ask your question. So let's start. We still have Paul. Good morning. As you probably all know by now, our main target in Gazelle is to achieve a return on equity of 10% over the business cycle. And during the autumn, we launched a new strategy, one could say, which we called Back to Basics. And one of the main principles in Back to Basics is to increase the transaction base. And during the quarter, we conducted two transactions, one smaller in Linköping and one bigger with a disposal of nine properties to 87 with a profit of 750 million. Another principle in Back to Basics is to be very prudent with the capital that the shareholders have given us. And if we can't earn it, we will return it. And during the quarter, we have repurchased almost 24 million shares. Another principle of Back to Basics is to have a tight grip on costs. And during the autumn, we sold our co-working operation of United Spaces. We made reorganization and cost cuts at the headquarters. And the administrative costs both in property management and in central administration is lower this quarter compared to the first quarter one year ago. And it's almost 100 million Swedish crowns lower. And of course, leasing, leasing, leasing is also one of the main principles in Factor Basics. It's still slow, but we have positive net leasing during the quarter, 82 million SEK, where 72 million was the leasing to Ericsson in Hagestad. So still slow, but positive. Castellum, our property portfolio value to 138 billion, but we also have two joint ventures. One joint venture in Gothenburg...