Neobo Fastigheter AB (publ) (NEOBO) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.454 Welcome to Neobo Q1 Report 2026. 00:00:03.454 -- 00:00:08.078 For the first part of the conference call, the participants will be in listen-only mode. 00:00:08.078 -- 00:00:13.043 During the questions and answers session, participants are able to ask questions by dialing 00:00:13.043 -- 00:00:18.428 pound key 5 on their telephone keypad. Now I will hand the conference over to CEO 00:00:18.428 -- 00:00:21.530 Ilva Sarbi-Westman. Please go ahead. 00:00:21.530 -- 00:00:26.935 Thank you very much. Good morning and welcome to the presentation of Neobo's interim 00:00:26.935 -- 00:00:32.041 report January to March 2026. My name is Ylva Sarby 00:00:32.041 -- 00:00:37.265 Westman and I'm joined here today by our CFO Maria Strandberg. 00:00:37.788 -- 00:00:42.875 Despite a turbulent environment, our performance remained strong with higher rental 00:00:42.875 -- 00:00:46.680 income and record low vacancy. Like-for-like 00:00:46.680 -- 00:00:52.985 rental income increased by 5% due to higher rents and lower vacancy. 00:00:52.985 -- 00:00:58.833 Net operating income decreased to 103 million due to divestments. 00:00:58.833 -- 00:01:04.060 On a like-for-like basis, NOI was broadly stable as higher rental income 00:01:04.060 -- 00:01:08.986 was offset by increased property management costs following a colder and snowier first 00:01:08.986 -- 00:01:10.986 quarter. 00:01:11.049 -- 00:01:16.196 Profit from property management decreased to 26 million due to divestments 00:01:16.196 -- 00:01:20.739 and a colder and snowier Q1 year-on-year. 00:01:20.845 -- 00:01:25.854 As a result of share buybacks, profit from property management per share was unchanged 00:01:25.854 -- 00:01:29.878 year on year at SEAC 0.19. 00:01:31.604 -- 00:01:36.774 Our property ...