Platzer Fastigheter Holding AB (publ) (PLAZ_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

to our presentation of the Q1 report of 2025. My name is Johanna Hultrensch and with me I've got Ulrika Dahlresson. I would like to summarize the quarter. We have completed yet another good quarter despite the turbulent and changing macro environment. In the week of this economic climate for the last two and a half years, it's even more important now than ever to focus on what we can influence. For us, that is staying close to the customer, focus on our cash flow and our cost control. The organization's hard work allows us to deliver an operating surplus that grows by 11% and an income from property management that increases by 16% compared to Q1 2024. The rental market started a bit cautiously after the Christmas holiday, but it picked up as the quarter progressed. Most of the new letting is actually in our office business segment. Our renegotiations of existing leases, they reached an amount of about 36 million. I think this shows our ability to meet our customer changing needs and that we are relevant with our products and in our attractive locations. So this is to summarize our period. As I mentioned, the operating surplus and the income of property management has increased and also the rental income has increased, of course. That is due to the acquisition of MIMO, our new office block that we acquired here just before Christmas. And of course, also the International English School that corresponded to about 8%. The balance is mainly due to the index and effects from these renegotiations along with good cost control. The net letting amounts to minus three or actually minus two if we look at our fully owned portfolio. And if we also exclude the bankruptcies, we are just balancing on the zero. And our tenant retention rate, meaning our existing tenants that stays i...