Prisma Properties AB (publ) (PRISMA) Q1 2025 Earnings Call

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WEBVTT 00:00:00.980 -- 00:00:06.080 Welcome everyone to today's presentation of our Q1 in 2025, 00:00:06.080 -- 00:00:10.180 where Martin and I will take you through the key events and financial highlights from 00:00:10.180 -- 00:00:12.060 this quarter. 00:00:12.060 -- 00:00:17.240 We kicked off 2025 with strong momentum. Our strategy continues to deliver 00:00:17.240 -- 00:00:21.340 results and we've grown in both scale and quality. 00:00:21.340 -- 00:00:24.440 If we look at our highlights, 00:00:24.440 -- 00:00:28.780 after closing the quarter, we'll enter into an agreement to acquire three properties 00:00:28.780 -- 00:00:34.160 from MP3 for a total of 463 million SEC, further strengthening 00:00:34.160 -- 00:00:39.340 our footprint in key regional cities with good growth, grocery and discount 00:00:39.340 -- 00:00:41.080 retail. 00:00:41.080 -- 00:00:46.440 In Q1, we continue to see strong rental income growth with 20% increase 00:00:46.440 -- 00:00:51.620 year over year. Our rental income reached 113 million SEC, 00:00:51.620 -- 00:00:54.200 up from 94 million. 00:00:54.200 -- 00:01:00.880 This growth was driven by acquisitions, completed projects and CPI adjusted leases. 00:01:00.880 -- 00:01:05.900 Net operating income increased with 16%, reaching 94 million compared to 81 00:01:05.900 -- 00:01:09.240 million in Q1-24. 00:01:09.540 -- 00:01:14.640 Property costs were temporarily high in the quarter due to provision for bad debt, 00:01:14.640 -- 00:01:19.840 a minor non-core tenant and increased cost in our property in Häggvik in connection 00:01:19.840 -- 00:01:23.660 with a transition to in-house management. 00:01:23.660 -- 00:01:29.120 Adjusted profit from property management increased to 45 million, up from 25 00:01:29.120 -- 00:01:33.560 million last year,...