The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Stephanie Dossmann - Jefferies LLC - Analyst
: I had a question regarding the net lettings target for this year because at the end of '24, you were guiding on SEK80 million for this year, positive,
of course. And of course, it doesn't seem to be the trend. So could you give an update on that target and see how you -- how confident you are to
improve net lettings in the second half? And would it be possible also to give a breakdown of your like-for-like rental growth between inflation,
negative reversion and so on? And more generally speaking, what is the reversionary potential on your portfolio, please?
Question: Stephanie Dossmann - Jefferies LLC - Analyst
:
Question: Stephanie Dossmann - Jefferies LLC - Analyst
: But maybe if I may -- just a follow-up maybe on the reversionary potential. I mean, could you give some colors on your -- if your portfolio is over
rented currently and by how much and what is, in your view, the negative reversion we can expect on the market as a whole because there has
been a strong indexation during the last years? So what is the reversionary potential on the market, both on the market and your portfolio, please?
Question: Stephanie Dossmann - Jefferies LLC - Analyst
: Yeah. Thank you.
Question: Adam Shapton - Green Street Advisors, LLC - Analyst
: Just one on balance sheet there. Just your -- if you look at your key ratios, debt ratio and ICR as well, you're either beyond or close to your self-imposed
target. Can you talk about how comfortable you are running, for example, with a debt ratio more than 1 turn above your target and how you see
the trajectory for that over the next year or two and how you're going to get, for example, a debt ratio back below 13%, assuming that remains
your target?
Question: Adam Shapton - Green Street Advisors, LLC - Analyst
: Okay. So the debt ratio target is a bit of a soft target. Okay. And I just wanted to clarify on the previous question on the reversion in the portfolio,
and you made quite a number of comments, and I wasn't sure I completely followed them. Did you say, Stefan, that most contracts are overrented?
Question: Adam Shapton - Green Street Advisors, LLC - Analyst
: Okay. That's what you expect going forward. Okay. Thank you.
Question: Stephanie Dossmann - Jefferies LLC - Analyst
: Yeah. Sorry to be a pain. Another follow-up question. Maybe you touched upon looking at transactions. So what would you -- what would you
target in terms of assets, location, yields for acquisitions, please?
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