Here are Frans’s comments as Ovaro reports its Q1 results on Thursday, May 21st. 
We expect the company’s operational result to have declined and the reported result to remain modest during the seasonally weak Q1 quarter. We do not expect any project progress income or significant capital gains or value changes to have been recognized for the quarter, meaning Q1 does not yet reflect Ovaro’s new strategy. At the core of Ovaro’s strategy is the transformation into a full-fledged real estate developer, and the company has continued to advance its project pipeline in the early part of the year through, among other things, the launch of the Kerava residential project, the Levi plot sale, and, after the review period, the Joensuu conversion project. On the earnings day, we are once again particularly interested in the progress of the Jyväskylä Kukkula project and other development projects in the current market environment challenged by rising interest rates, as well as the conditions for balance sheet recycling.