Cibus Nordic Real Estate AB (publ) (CIBUS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, welcome. My name is Stina Lindhög and I'm a CEO at CBUS and with me I have Pia-Lemma Olofsson, CFO. We live in a very turbulent and unpredictable world right now and with that comes also a volatile stock market. So with that said, I'm glad to present a stable quarter for Sibus and that we can continue to distribute monthly dividend by over 6% yield on actual share price. Sibus mainly focuses on grocery properties and other so listed daily goods real estate company in the Nordic. The aim is to create stable cash flows and the company has been listed since 2018 and has grown from owning food properties only in Finland to now having operation in seven countries. As you see on the picture here, this is a good start to continue growth in existing markets and also investigate new markets in Europe. The blue and red dots you see here, except for the They are the new acquired properties announced this morning. Net operating income increased by 16% to 42.6 million compared with the previous year. And the underlying business here remains stable. Profit from property management increased by 13% to 20.9 million euro and that's excluding non-recurring items and currency effects. Worth mentioning is that profit from property management this quarter is partly charged with interest expenses linked to the financing of transactions completed after the quarter and also some costs related to the refinancing of the bonds. Market value. slightly down during the quarter, depending on that market rents were adjusted downwards in a few properties in Finland, resulting in a marginal decline in property values of 0.50% in the existing portfolio. And this is not a general trend. And in other countries, the values are unchanged or slightly higher. The average yield is still 6.4%. The tota...