Wihlborgs Fastigheter AB (publ) (WIHL) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the presentation of Billboard's first three-month report 2026. Growth, cash flow, and core business is our mission. And even if the world gives us some challenges, our religion continues to deliver. Net debt to every DA at 10.5 times, good access to financing continues, and we have acquired our first premises in Karlsruhe in Copenhagen. And with some figures on that, the rental income was 1,150,000,000, a new repper. The operating surplus, 800,000,000. And income for property management, 520,000,000. The results for the period increased to 548,000,000 corresponding to 1,78,000,000 per share. And EFRA NRV has increased by 10% to 101,14,000,000 per share adjusted for paid dividends. A comparison of the rental income Q1-25 and Q1-26, indexation plus 13 million, acquisition plus 46 million, currency effect minus 12, additional charges plus 23, and completed projects, new leases, and renegotiation plus 35 million. And the net lending was negative with minus 35 million. the first negative quarter after 43 quarters in a row with positive numbers. New leases of 49 million and terminations of 84. Even if every single termination is a loss, the volume of termination as such is close to last year and no drama in that, but the amount of new leases in Q1 are too low to meet that. The year started quite slowly, picked up a bit, but then When the war in the Middle East was a fact, all discussions were pushed forward. Over 50% of the terminations was in Denmark, and we know that the market there is quite strong, so I expect that we will see a pickup. We also had 8 million in Sweden from bankruptcies that affected the result with minus 1 million, but terminations had a yearly rental value of 8 million. Now, in April, things have changed, and I think the list of possibiliti...