Jonas Gustafsson
Chief Executive Officer

Good morning, everyone, and a warm welcome to this 2026 Q1 release call for Hemnet Group. My name is Jonas Gustafsson, and I'm the Group CEO of Hemnet.

With me here on my side today at our headquarters in Stockholm, I have our Chief Financial Officer, Anders Ornulf; and our Head of Investor Relations, Ludvig Segelmark.

As usual, we will go through the presentation that was published on our website earlier this morning during today's session. I will kick it off with a summary of the main highlights during the first quarter. Thereafter, Anders Ornulf will cover the financial details before I come back in the end to wrap up today's session.

As always, there will be opportunities to ask questions at the end of the presentation. Today's session will be moderated by our operator, so please follow the operator's instructions to ask questions through the provided dial-in details.

So with that, let's get started, and let's move on to the next slide, please. Net sales declined by 24.7% in Q1, driven by weak listing volumes throughout the first quarter. Sales were also negatively impacted by a timing shift in revenue recognition related to the rollout in the new commercial proposition and payment model -- Sell First, Pay Later -- in which we recognize revenues first when properties are sold.