Catena AB (publ) (CATE) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.100 2025. No lease agreement is signed at this moment, but 00:00:05.100 -- 00:00:10.290 we have started the letting job and we hope to be successful with that during this 00:00:10.290 -- 00:00:15.299 year. The asset is located in Køge, which is one of the top 00:00:15.299 -- 00:00:20.348 logistic locations in Denmark, and that will be our first footprint 00:00:20.348 -- 00:00:22.893 in that region. 00:00:22.893 -- 00:00:25.374 Next slide, please. 00:00:26.575 -- 00:00:31.600 Our ongoing project portfolio totals to around 1.3 billion SEK, where 00:00:31.600 -- 00:00:37.026 400 million is remaining investments. And when all is completed, we will 00:00:37.026 -- 00:00:42.071 almost add 90,000 square meters to our portfolio. 00:00:42.071 -- 00:00:45.734 The yield on cost on those projects is around 7%. 00:00:45.734 -- 00:00:52.073 And for new projects, we are also aiming to be around 7%. 00:00:52.073 -- 00:00:57.099 In the current market, we will not start any speculative projects at our 00:00:57.099 -- 00:00:59.042 land bank. 00:00:59.042 -- 00:01:01.562 Next slide, please. 00:01:02.286 -- 00:01:07.292 The situation with our land bank and ongoing zoning plan processes is in 00:01:07.292 -- 00:01:12.418 the same as last quarter. We feel very confident that the land we have 00:01:12.418 -- 00:01:17.725 is in attractive logistic locations and that we can create profitable growth 00:01:17.725 -- 00:01:22.662 in the future. At the same time, we see that it's becoming more and more difficult to 00:01:22.662 -- 00:01:27.889 get more sown land. So the value of the land should also rise in the long 00:01:27.889 -- 00:01:33.095 term. Since there are no question of any land allocations, we are not 00:01:33.095 -- 00:01:36.118 in a hurry to get start...