It is highly gratifying that our focus on strengthening existing cash flows is continuing to deliver results. The revenues generated by our residential portfolio and our commercial portfolio are both posting positive trends, and we are starting to note the effects of the energy efficiency enhancements that we have implemented. Through our partnership with the energy company Stockholm Exergi, we are helping Stockholm’s energy system to transition to net-zero emissions.

I am very pleased and proud of the partnership with Stockholm Exergi. For John Mattson, the agreement means that we will reduce the cost for district heating and lower our climate impact through cost-effective and sustainable district heating for a large proportion of our properties. The partnership enables us to support Stockholm’s energy system in its transition to net-zero emissions.

By continuing to develop and invest in district heating technology, we can jointly reduce our environmental impact and ensure a stable and energy supply for the future. John Mattson’s long-term commitment to district heating and its energy partnership with us means greater possibilities for continuing to support a growing, climate-smart energy solution, not just for John Mattson’s properties, but for all of Stockholm.

It is gratifying to note that we retained the efficiency in operations we lay the foundations for in 2023 despite continued price increases. However, an unusually cold and snowy start to the year impacted costs for heating and snow clearance. It is also gratifying that we are once again investing in long-term value creation.

The implementation of energy efficiency measures strengthens cash flows and property values while concurrently contributing to a sustainable future. We are also preparing to once again start new upgrades. We have potential upgrades for a total of approximately 1,500 apartments in our portfolio.