Good morning everybody, and welcome to this call concerning the news that we communicated earlier this morning. NCC is divesting our business area, NCC Industry. I'm Tomas Carlsson, CEO of the NCC Group, and I will give you the background and some more flavor on this theme. As you may remember, we decided as a part of our strategy to do a strategic review of business area Industry in the beginning of 2025. During that year we did a comprehensive review and also received a number of bids on the business. In the end, we didn't think that any of the bids actually corresponded to the value that we saw in the business, so we decided to keep it, and that was the decision in February 2026. We also said that we would start a process to make NCC Industry an independent unit owned by NCC, hence retaining all possibilities. We could keep it forever, we could do an IPO, we could take in a partner, or we could sell it. In the beginning of the summer this year, we received a bid from a new constellation that we thought was attractive. It's that bid and the signing of that contract that I will talk about now. The transaction in brief, NCC divests NCC Industry, including all operations in stone materials and asphalt within that business area. The contract values, the enterprise value for Industry is at SEK 8.2 billion. If you deduct external debt from the company, we estimate that there will be a cash flow of approximately SEK 7 billion at closing. We will receive that payment at closing. We are doing one transaction, but there are two buyers that will split the business into two parts. It's Heidelberg Materials that will own the Swedish and Norwegian operations, and CRH that will own the Danish and Finnish operations. This transaction is subject to regulatory approvals, actually several, but the one that we expect will take the longest time is the EU Commission. Based on the best estimates that we have been able to get from several experts, we expect that closing will be able to happen sometime in the second half of 2027. That's the transaction in brief. A little bit of information regarding NCC Industry. Asphalt, leading position in the Nordics in asphalt and aggregates. We have operations in Denmark, Norway, Sweden, and Finland. Net sales in 2025 was SEK 12.6 billion, and earnings the same year was SEK 879 million. That's the business area. For the NCC Group, this divestment will mean that we are a more focused and asset-light company. We will have a clear focus on the contracting business, and we will be able to spend our resources and focus on developing that business. It will be asset-light, and we will have an increased financial flexibility to continue to develop the company. Now, the rationale behind this divestment. Even though the people working on our different sites, whether it's a construction or contracting site or an asphalt plant or a paving site, they may look the same, in the same type of high-vis clothing and personal protection equipment, the business models are significantly different. Industry provides mainly standardized products, stone and asphalt, from primarily fixed and well-defined production facilities in well-defined geographies. It has quite a lot of fixed assets in the business, higher capital intensity in the business. While on the other hand, contracting is more of a service where we provide a project management on risk, where each project has unique characteristics and are in different stages, and continuously in shifting geographies, and with limited or no capital employed. So very different business. That means that we need to develop systems, we need to develop processes, we need to develop competence development for two very different businesses and try to run that as a group. Therefore, we have concluded that both Industry and contracting will probably have the possibility to develop better under different ownership. NCC will be able to focus on contracting, while Industry with the new owners will be able to focus on asphalt and stone business. Financial impact on NCC, enterprise value of SEK 8.2 billion, expected positive cash flow of approximately SEK 7 billion, depends a little bit on the seasonality when we close. Close the deal. The purchase price will be settled in cash at the closing. NCC will continue to recognize earnings from Industry until closing. But we will also start reporting the business as discontinued operations according to IFRS from the coming quarter Q3 2026. So that's the overall financial impact for NCC. For NCC Industry, the benefits, new owners with extensive experience in asphalt and stone materials, both Heidelberg Materials and CRH are the leading companies in this industry and have a presence in roughly 50 countries each, with extensive experience on how to run this business. They are investing in the Nordic region, so it will become an important part of their operations and an important part of the Northern European business. They have a clear ambition to further develop the business. It will be a strong foundation for all the employees in the companies, for customers, and for business partners, to develop within this new constellation. Now, the timeline, we have now signed an agreement this morning on October 7th. Now we start the regulatory approval process, and we expect that to be finalized during the second half of next year. You may ask yourself why this long delay, that's due to the fact that each local market will have to have an approval, and for asphalt and business, local markets are defined in a very small area. There are many locations that will have to be investigated by the European Commission. It's standard in this industry. Then at closing, we will have a settlement and all of the operations will be transferred. As I said earlier, we expect that this will happen in the second half of 2027. Until then, Industry will continue to be a part of the NCC Group, and we will run the business as usual. We will benefit from the earnings from the business. With that, NCC has taken an important step to develop towards becoming a more specialized construction company, with a high potential for future value creation. With that, operator, I open up for questions. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their telephone. You will hear a tone to confirm that you have entered the queue. If you wish to remove yourself from a question queue, you may press star and two. Questioners on the phone are requested to disable the loudspeaker mode while asking a question. Anyone who has a question may press star and one at this time. The first question comes from the line of Julia Sundvall from ABG. Please go ahead. Yes. Hi and good morning. Good morning. I would like to start, the sale is expected to bring in about SEK 7 billion in cash. How do you think about the split between the capital needed in the remaining business and the potential of acquisitions and return to the shareholders? That is, of course, a super relevant question, and that will be subject to extensive discussion before we have the cash. I imagine also after we have the cash. I think the most important thing now is to make sure that we close the business and get the cash. We will come back to that at a later stage. Of course, we have the opportunity, as you are alluding to, for both investments and dividends, but how we will do that, we will come back to at a later stage. Yeah. Understood. Just a follow-up question. If you had the cash today, what would be the most attractive way to use the capital if you have it today? Since I have known that we shouldn't have it today, I have not thought about that. Yeah. Okay. Going to another question, what group costs do you currently allocate to the Industry and how much will remain after the sale? How quickly can you remove them after the sale? There will be a process that we will start immediately on carving out the supporting functions from the NCC Group. We expect to remove all of that cost from the NCC Group. Can you give us any number or any flavor to that? No, but it's corresponding to a business area of SEK 12.6 billion compared to the entire group. Okay. Yeah. Thank you. Another last question from me. How much asphalt or aggregates does NCC core contracting business use from Industry today? Will this sale change your purchasing terms from this? Internal sales from NCC Industry to Infrastructure and Building is in low single-digit percentage. It's roughly around 2%- 3% on an annual basis, so it's very low. We expect that we will maintain a business relationship with Heidelberg and CRH, but we will also have the opportunity to acquire aggregates and asphalt on the open market. That's the way it's working in Denmark and Norway today. Sweden is actually the exception, where you have your in-house asphalt and aggregates business. Okay, perfect. That was all for me. Thank you. Thank you. As a reminder, if you wish to register for a question, please press star and one on your telephone. The next question comes from the line of Stefan Andersson from Danske Bank. Please go ahead. Thank you. Yeah, a couple of questions from me. Okay, three of them. Just to confirm what you said. You said that you would treat this as a discontinued operation from the next quarter, and then you said Q3. I just want to make sure that you still see this. That you meant Q3 and not Q4. No, Q3, absolutely. In a couple of weeks. Perfect. Then, just a little bit curious on, the price is SEK 8.2 billion, you said cash flow impact is SEK 7 billion. There is SEK 1.2 billion in difference. Is that they take over debt or is there something else here that is impacting? It is corresponding to external debt. It is mainly leasing and pension. Perfect. Then, well, saving the difficult one for last. I am not sure if you are going to answer this, but we touched on the proceeds here and how much might go to dividend or something else. I am just curious, could you also think about doing repurchasing as an alternative to dividends on the portion that might be distributed to shareholders? I can imagine all sorts of developments here, you say. I can think about investments. I can think about M&A. I can think about dividend. I can think about repurchasing. But that will be an extensive discussion in the board and, in the end, also a decision from the AGM. Thank you. That is all from me. We now have a question from the line of Simen Mortensen from DNB Carnegie. Please go ahead. Hi. Just a question on my side. You commented that you are moving towards an asset-light model also, but commercial properties are still a huge part of the balance sheet you now have as you have invested in Kapellet. Just wondering how much are you looking to become more asset-light eventually over time? Could we also see you actually getting rid of property development to go for a more asset-light approach? Or how we should address that situation that you are saying you are going for asset-light. I think that is a very relevant question in the context. Because what we have in property development today is finalized and let properties that we are aiming to sell. But due to the shift in the market and the lower demand for office properties, we still have them on our balance sheet. Over the medium term, we intend to sell them, and then we will continue with property development business, but we will have a more cautious approach, trying to make sure that we have a clearer understanding on who will buy them before we start projects. Also a clearer understanding who the tenant will be before we start the project. For example, like Yrket here in Solna. We will have a slightly different approach to property development than we have had before, but it is true that we have quite a lot of money on the balance sheet for finalized properties. But eventually they will be sold. Yeah, it is fair to understand you will go more from then massive asset-light companies like what we have seen in some of the recent years, if I understand correctly. Yeah, for example. Much less property development. Okay, thank you. Those were my questions. Thank you. Once again, to ask a question, please press star and one on your telephone. The next question comes from the line of Albin Sandberg from SB1 Markets. Please go ahead. Yes. Hi, Tomas. Just one follow-up from me. I just wonder, since you have now disclosed the fact that you are selling it, can you just walk us through a little bit what happened since your decision not to sell it in connection with Q4? Was it a good decision not to go for the sale then? Can you say anything about the difference in price tag you were offered back then or now? It is relatively simple. In January, February, we did not have any bids that we thought were attractive enough. Then we received a new bid in the beginning of the summer, so on a more attractive level. It is a significant difference between the bids we have. They are a little bit hard to compare because they were structured different, but the difference is in the order of magnitude of billions. Okay, that is helpful. Just on that legal clearance that you need, I guess you may be seen on other type of deals within the industry or so on. Is there any country that would be more at risk or not? How do you see that risk in general that the deal would not be approved? I see that as very low. The buyers have committed to take fundamentally all necessary action to make sure that it is closed, and that it is approved by the European Commission. Of course, they have made, and we have also made extensive research on what could be the outcome, but they have committed to handle that. Great. Thank you. That is all for me. Ladies and gentlemen, that was the last question. I would now like to turn the con Sorry to interrupt. We have a last minute registration coming from the line of Keivan Shirvanpour from SEB. Please go ahead. Yes. Good morning. I guess two questions, and the first is, do you expect any type of extraordinary costs in the quarter or in any other quarters thereafter? From this deal, we do not expect any type of extraordinary costs. There will be, of course, costs related to the transaction, but that will be reported when we close the deal. Okay. Then just another question is that you say that you will report Industry as discontinued operation already from Q3. Will you still disclose the full earnings from that division in terms of revenue and the margins in that, or will it be grouped into the different? In the same way as we actually have done as a business area, we will disclose that. Okay, perfect. Those are my questions. Ladies and gentlemen, this was the last question. I would now like to turn the conference back over to Tomas Carlsson for any closing remarks. Thank you very much. I think we have an online question as well. We have one question online about the sales split between asphalt and aggregates, and I can take it directly, actually. So one-third is stone materials and two-thirds are asphalt. So that was a question from online. Very good. If there are no further questions, thank you for listening in, and we are, of course, open to answer more questions if you reach out to us. Thank you very much, and have a continued good Wednesday.