KMC Properties ASA, a real estate company focusing on industrial and logistic
properties, recorded rental income of NOK 104 million for the second quarter of
2023, up 60% from NOK 65 million in the same period last year. The increase is
primarily driven by income from new investments, in addition to a weighted
average CPI adjustment of rent of 7.5% on 1 January. For the first half 2023 the
rental income was NOK 199 million, up from NOK 127 million the same period last
year.

In the second quarter the company secured a full refinancing of its NOK 1,850
million senior secured bond and its NOK 200 million revolving credit facility.
The refinancing improved KMC Properties debt structure by increasing its share
of low margin bank debt from 38% to 69% and reduced its overall interest from
6.45% to 6.02% from the end of the second quarter to July 2023 respectively.

"Our ability to refinance at lower interest margins in the current macro
environment is a testament to the hard work laid down by the team over the past
years, the quality of our assets and our strong tenants. For us this refinancing
represents a major milestone, and we now look forward to continue to grow our
portfolio, utilising our operational leverage to further strengthen our cash
flow - currently stretching all the way into 2040." says Liv Malvik, CEO of KMC
Properties.  

At the end of the second quarter 2023, the company's investment properties were
valued at NOK 6 032 million, up from NOK 4 247 million at the end of the second
quarter 2022 and from NOK 5 993 million at the end of the previous quarter. The
increase is due to accretive investments and currency effects. 

KMC Properties remains committed to its investment strategy, focusing on
properties in Northern Europe with solid tenants in established industries, in
addition to greenfield and capex projects in collaboration with current and new
tenants. The company's investments have increased the overall EBITDA yield due
to increased utilization of the current organization and KMC Properties will
continue its accretive growth towards its goal of a GAV of NOK 8 billion by year
end 2024.


Live webcast, today at 10:00 CEST
CEO Liv Malvik and CFO Kristoffer Holmen will present the company's financial
results for the quarter from 10:00 am CEST today, Thursday 10 August 2023. The
webcast can be accessed through the following link:

https://channel.royalcast.com/landingpage/hegnarmedia/20230810_5/

The presentation will be held in English and questions can be submitted
throughout the event. A recording of the webcast will be made available from the
company's website.  


For further information, please contact:  
Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175  
Kristoffer Holmen, CFO KMC Properties ASA, tel. +4792814862

About KMC Properties ASA
KMC Properties, is an Oslo Børs-listed real estate company focusing on
industrial- and logistic properties. The company has a diversified portfolio of
properties in the Nordics and the Netherlands. The properties are strategically
located and have long lease agreements with solid tenants. KMC Properties has an
ambitious strategy to grow the portfolio through further development of existing
properties, as well as M&A initiatives.  

The information is such that KMC Properties ASA is required to disclose in
accordance with the EU Market Abuse Regulation. The information was submitted
for publication, through the agency of the contact person set out above, at
07:00 CEST on 10 August 2023.