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

Investor webinar replay

Replay transcript excerpt

2025. No lease agreement is signed at this moment, but we have started the letting job and we hope to be successful with that during this year. The asset is located in Køge, which is one of the top logistic locations in Denmark, and that will be our first footprint in that region. Next slide, please. Our ongoing project portfolio totals to around 1.3 billion SEK, where 400 million is remaining investments. And when all is completed, we will almost add 90,000 square meters to our portfolio. The yield on cost on those projects is around 7%. And for new projects, we are also aiming to be around 7%. In the current market, we will not start any speculative projects at our land bank. Next slide, please. The situation with our land bank and ongoing zoning plan processes is in the same as last quarter. We feel very confident that the land we have is in attractive logistic locations and that we can create profitable growth in the future. At the same time, we see that it's becoming more and more difficult to get more sown land. So the value of the land should also rise in the long term. Since there are no question of any land allocations, we are not in a hurry to get started with construction. We do this together with our customers when they are ready to sign new leases. Next slide, please. For a leasing update. We can see that our net leasing was strong in Q1. It came in with plus 47 millions for a quarter. Our whale is now at 6.5 years and the letting ratio is at 96.5%, which is a really strong number. Next slide, please. For an update around the sustainability. Next slide. The environmentally certified area is now at 53% and will increase further as projects and new acquisitions that are in the process of being certified is finalized. But happy to see that we are more than ...