Note 4. Revenue and operating segments

The Group disaggregates revenue by major category based on the primary economic factors that may impact the nature, amount, timing and uncertainty of revenue and cash flows from the customer contracts as seen in the table below.

The information below summarizes external revenue by geographic area.

All rental income is generated in the United States.

Revenue recorded is recognized over time. The transaction price allocated to unsatisfied and/or partially unsatisfied performance obligations are set out below.

The Group anticipates that 22%, SEK 443 million, of the transaction price allocated to the unsatisfied and/or partially unsatisfied performance obligations as of the year ended 2025 (2024: 16.2%, SEK 406 million) will be recognized as revenue during the next reporting period. The remaining 78%, SEK 1,580 million, will be recognized from the 2027 financial year through 2032 (2024: 83.8%, SEK 2,101 million from 2026 to 2031).

The two largest customers in 2025 accounted for approximately 15% and 11% of revenue respectively whilst the two largest customers in 2024 accounted for approximately 16% and 15% of revenue respectively. During the years 2025 and 2024 these are the only customers that have a revenue exceeding 10% of the Group’s revenue.

Rental income

Maturity analysis for lease payments is as it follows:

Operating segments

Operating segments are defined as components of a Group that engage in business activities and for which discrete financial information is available that is evaluated on a regular basis by the Chief Operating Decision Maker (“CODM”) to make decisions about how to allocate resources and assess performance at a consolidated level. The CODM has been identified as the Chief Executive Officer of the Group.

The activities of the Group are considered to be one segment which is reflected in its organizational structure and internal reporting. The Group does not distinguish in its internal reporting different segments, neither business nor geographical segments. The CODM considers that there is one reporting and operating segment.

The following table shows the breakdown of the Group’s non-current assets (e.g., intangible assets, property, plant and equipment, right-of-use assets, Interest in joint venture, and other financial assets) by geographical location.