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: Anssi Raussi - SEB - Analyst
: Yes. A lot of positives like reducing capital employed and inventory levels, but I think your net debt has increased two quarters in a row Q-on-Q
basis. So what do you think that needs to happen that net debt actually starts to decrease significantly?
Question: Anssi Raussi - SEB - Analyst
: Okay. And then about the future activity. I guess that your activity has to pick up maybe already this year, but at least next year. So how should we
think about the cash flows? Of course, your advance received have been declining, of course, during the last couple of years.
But do you think that you have to invest like significant amounts from your balance sheet? Or do you think that how much advance payments
should cover this?
Question: Anssi Raussi - SEB - Analyst
: Okay. That's clear. And then finally from my side about the interest-bearing receivables, which you reported at, was it EUR77 million in your net
debt or net cash or cash position in this case? Can you disclose the nature of these receivables?
Question: Svante Krokfors - Nordea Markets - Analyst
: Coming back a bit to [Simen's] question about discounts. Could you elaborate a bit on your discounts offered in Finland and Baltics and CEE
countries? What kind of strategy have you had there? And what will you -- have you made any changes to that when consumers are interested in
buying and perhaps asking for discounts?
Question: Svante Krokfors - Nordea Markets - Analyst
: And then on plot investments, you mentioned that you don't need to do any of those basically, but you have some commitments, quite big sums
that may come up. Could you give some color on what kind of commitments could be expected to be realizing near term?
Question: Svante Krokfors - Nordea Markets - Analyst
: And last one, perhaps, you have projects in premarketing phase. I think you mentioned 12, and you also mentioned that lead times have been
taken down to even below 12 months. Could you give some color on what has changed here?
Question: Olli Koponen - Inderes - Analyst
: I have a few questions left after asked ones already. Just to continue a little bit about the Finnish Housing market and just that I understand your
comments on the report correctly, are you kind of expecting to start consumer apartments in the first half of 2025? Or do you kind of expect your
-- or you will be doing mainly those start-ups in H2 2025?
Question: Olli Koponen - Inderes - Analyst
: Okay. And this is just maybe a continuation on the first question concerning kind of your future Housing start-ups and funding of your own
developed projects in maybe Business Premises in 2025. Do you see that your kind of cash balance, which was down in this quarter and your kind
of liquidity channels that you have are kind of enough to do those start-ups in Housing and in Business Premises? Or do you need to release capital
from your balance sheet to start new projects in 2025?
Question: Emil Immonen - Carnegie Investment Bank AB - Analyst
: Just a couple of more on the Housing side. So continuing on what Olli asked, what are your criteria now for the starting apartments? I was a little
bit surprised by the news of (inaudible). I think the reserved percentage was pretty low there.
Question: Emil Immonen - Carnegie Investment Bank AB - Analyst
: Okay. And how would you see that these start-ups then affect your net debt or does it have any impact?
Question: Emil Immonen - Carnegie Investment Bank AB - Analyst
: Okay. Then you had some sales to investors now in Q3. Can you maybe elaborate on how is the investor market looking right now?
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