Logistea

Summary period January – June 2024
· Income increased by 17 per cent and amounted to SEK 221 million (189).
· Net operating income increased by 20 per cent to SEK 166 million (138).
· Profit from property management, excluding transaction costs related to the business combination of KMC Holdco AS, increased by 48 per cent to SEK 77 million (52).
· Profit before tax amounted to SEK 202 million (20), where changes in the value of properties affected profit by SEK 121 million (-44).
· Earnings per share amounted to SEK 0.7 (0.1).
· Net asset value per share increased to SEK 14.0 (13.2).
· During the period, a total of four properties were acquired of at a total property value of SEK 649 million.
· 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, of which Logistea received approximately SEK 250 million before issuance costs.

Summary quarter April – June 2024
· Income increased by 17 per cent and amounted to SEK 110 million (94).
· Net operating income increased by 22 per cent to SEK 88 million (72).
· Profit from property management, excluding transaction costs related to the business combination of KMC Holdco AS, increased by 50 per cent to SEK 42 million (28).
· Profit before tax amounted to SEK 22 million (16), with changes in the value of properties impacting earnings by SEK 0 million (-30).
· Earnings per share amounted to SEK 0.1 (0.1).
· At the end of April, Logistea signed a lease agreement with the Swedish Fortifications Agency for the leasing of 6,100 square meters in Kristinehamn with an annual rental income of SEK 3 million.
· During the quarter, Logistea acquired the property Åmål 6:78 at an agreed property value of SEK 185 million.
· In June, Logistea signed an agreement to merge with KMC Holdco AS.

Significant events after the end of the balance sheet date
Following the authorization to issue new shares at the Extraordinary General Meeting on 9 July and approval by the Swedish Financial Supervisory Authority to admit trading of the new shares, Logistea acquired the shares in Norwegian KMC Holdco AS on 11 July. The merger increased the number of properties by 72, located in Sweden, Norway, Denmark, the Netherlands, Finland, Germany, Belgium and Poland.

“During the first half of the year, including the merger with KMC, we have acquired properties worth close to SEK 8 billion and have come much closer on reaching our operational growth target of SEK 15 billion by the end of 2024. The merger with KMC takes the two companies to a whole new level. KMC is a company we have had at the top of our list for a merger with for several years and it is with great pleasure that we can now state that the deal has been completed.
Adjusted for transaction costs arising from the merger, we report our strongest profit from property management ever, with an increase of 20 percent compared to the previous quarter. Furthermore, our loan-to-value ratio amounts to a low 44 percent and net lettings for the quarter are positive by almost SEK 3 million” says CEO Niklas Zuckerman.

At 10:00 today, Friday 12 July, 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.