Continued expansion based on a strong position

Summary for the quarter January – March 2024
· Income increased by 17 per cent and amounted to SEK 111 million (95).
· Net operating income increased by 18 per cent to SEK 78 million (66).
· Profit from property management increased by 46 per cent to SEK 35 million (24).
· Profit before tax amounted to SEK 180 million (4), where changes in the value of properties affected profit by SEK 121 million (-14).
· Earnings per share amounted to SEK 0.7 (0.0).
· During the quarter, Logistea acquired and closed of one property in Karlstad, one in Nybro and one in Falun at a total property value of SEK 464 million.
· In February, Logistea published updated sustainability targets aligned with ESRS.
· In March, a directed share issue to new and existing shareholders was carried out in an accelerated bookbuilding procedure. A total of 18,940,000 ordinary shares of series B were issued, where Logistea received approximately SEK 250 million before issue costs.

Significant events after the balance sheet date
· At the end of April, Logistea signed a lease agreement with the Swedish Fortifications Agency (Sw. Fortifikationsverket) for the leasing of 6,100 square meters in Kristinehamn with an annual rental income of SEK 3 million.

“The first quarter was summarised with an increase in income and net operating income of 17 per cent and 18 per cent, respectively. Profit from property management increased by a full 46 per cent, driven both by an increased property portfolio but also by lower financing costs. During the quarter, Logistea acquired properties for more than SEK 450 million and during the past four months, the property portfolio increased by 20 per cent. The occupancy rate remains at just under 96 per cent. At the end of the quarter, we carried out a directed share issue to new and existing investors. Through the share issue, we strengthened the cash position by SEK 250 million before issue costs, funds that will be used for future transactions and value-creating investments in the existing portfolio," says CFO Philip Löfgren.

At 09:00 today, Friday 3 May, there is a possibility to watch a presentation of the Interim Report. The report will be presented by Logistea’s CEO Niklas Zuckerman and CFO Philip Löfgren in Swedish, where the presentation material is in English. The presentation will be webcasted live and to watch the webcast, follow this link. A recording will be available afterwards on Logistea’s website.

If you wish to participate via teleconference, please register via this link. After registration, you will receive phone numbers and a conference ID to access the conference. It will be possible to ask questions verbally via the teleconference.