Wallenstam AB (publ) (WALL_B) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi and welcome to the conference call of the third quarter 2025 for Wallenstam. My name is Susanne Linde, I'm CFO here at Wallenstam. Here on the picture you see our 200-year-old property in central Gothenburg, the Koxka building, where we have completely renovated it and are now nominated for the award in the category FESEDE of the year 2024 renovation. So what has happened during this third quarter? We have taken possession of land in Forsåker in Mölndal, a part of the Forsåker urban development project. Within the block the construction of approximately 240 rental apartments is planned. On July the 3rd we signed an agreement for the sale of our new production Nacka Grace. You can see it here on the picture. We agreed on a property value of 1822 million. The folks and group and KPA pension will take position of the property on the last of October this year. We have also made a lot of buybacks of our own shares this year. During the third quarter, we repurchased 5 million shares. We have done this of the capital we receive from our sales. We use that capital to repurchase our shares which are at just over 20% discount. We have repurchased shares for an average price of approximately 46 kronor per share and our net asset value is 59.7 as of this quarter. Speaking of net asset value, we revised our business plan for 2030 during this quarter. We have adjusted it from 100 kronor in net asset value per share to 80 kronor per share. The decision is a consequence of the changed external conditions that have taken place since the goal was set in 2022. We think it's important to have a strong balance sheet, which is why we will also increase the financial framework. This means that the equity assets ratio should be at least around 40% instead of the previous 35%. As before, ...