Heimstaden Bostad - comment

[Aengus on behalf of Tomás] Operating cash flow was in line with our forecast at SEK2.4bn, but better-than-estimated asset sales meant that net capex was lower than we expected. This was reflected in the Net Cash Flow of SEK 1 billion (vs. SEK 250 million estimated). Heimstaden Bostad management is focused on maintaining its IG rating, so we expect no dividends will be paid until FY2027. Tomás is on leave this week but will update when he returns.