Interim report January – March 2025: Strong start to the year with a record acquisition volume for a single quarter

During the first quarter of the year, we continued to deliver on our strategy of acquiring, developing, and managing logistics properties with a focus on sustainability. During the quarter, we signed agreements for four strategic acquisitions comprising a total of ten properties, with an agreed property value of approximately SEK 2.2 bn. Rental income increased by 42 percent and net operating income improved by 48 percent year-on-year, of which 5 percent was attributable to the comparable portfolio.

• Rental income increased by 42%, amounting to SEK 236 m (166).
• Net operating income increased by 48%, amounting to SEK 203 m (137).
• Profit from property management increased by 51% and amounted to SEK 134 m (89).
• Earnings per share increased by 21%, amounting to SEK 0.85 (0.70).
• Net asset value (NAV) per share increased by 4% in the period and amounted to SEK 30.44.
• Profit from property management per share increased by 32% in the period and amounted to SEK 0.52.
• Value changes in investment properties totalled SEK 137 m (73).
• Sustainable financing amounted to SEK 7,111 m (3,210) at the end of the period, corresponding to 93% (65) of the loan portfolio.
• Net leasing income amounted to SEK 0.4 m (20.0) and the letting ratio to 97.0% (94.6).
• A revised sustainability policy and new sustainability targets have been adopted.
• During January, occupancy commenced in SLP’s largest new construction project to date, totalling 61,500 square meters, in Hallsberg.
• Seven properties were acquired where SLP has now taken ownership, with a lettable area of approximately 177,000 square metres and a property value of SEK 1,848 m (307).
• SLP has acquired a logistics property in Trelleborg with a property value of SEK 90 m, with the transfer of ownership scheduled for early May 2025.
• SLP has acquired two newly built and fully let logistics properties in Jönköping with a property value of SEK 266 m, with the transfer of ownership scheduled for June 2025.
• SLP has appointed Filip Persson as its new CEO effective 1 September 2025, and the Nomination Committee is proposing that the current CEO, Tommy Åstrand, be elected to the Board of Directors.

”We are very pleased with the transactions completed during the quarter, where long lease agreements with strong tenants generate stable cash flows and strengthen our average lease duration. At the same time, there is significant value-creation potential—both in the new acquisitions and in the existing portfolio—offering further opportunities for long-term value growth. The conditions for continuing to acquire logistics properties with development potential remain excellent. We have strong acquisition capacity and an active acquisition strategy, continuously evaluating potential transactions where we see opportunities to create long-term value,” comments Tommy Åstrand, CEO of SLP.

This disclosure contains information that Swedish Logistic Property is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29 April 2025, 08:00 a.m. CEST.

The interim report will be presented via a recorded audiocast today at 10:00 a.m. CEST. Tommy Åstrand, CEO, and Matilda Olsson, CFO, will comment on the results and operations. The presentation material (images + audio) will be available at:
 

https://slproperty.se/en/ir/reports-and-presentations/

https://edge.media-server.com/mmc/p/hanvw6jq

For further information, please contact:
Tommy Åstrand, CEO of SLP, telephone: +46 705 455 997
 

About SLP – Swedish Logistic Property
Swedish Logistic Property - SLP – is a Swedish property company that acquires, develops, and manages logistic properties with sustainability in focus. Value growth is created through development of the properties which are located in Sweden’s most important logistic hubs. The property portfolio comprises a lettable area of approx. 1,325,000 sqm. SLP is a partner that takes responsibility and through this creates value for both tenants as well as for the company and its shareholders. SLP’s share of series B is listed at Nasdaq Stockholm Mid Cap. For further information about SLP: slproperty.se

This disclosure contains information that Swedish Logistic Property is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-04-2025 08:00 CET.