Interim report January–December 2022: SLP’s position has strengthened during a time of uncertainty
2022 has been a year of change, such as the company’s listing on the Stockholm stock exchange, economic uncertainty and the war in Ukraine. I am proud that during this time we have managed to continue to develop the company and generate profit that exceeds our set goals.
- Rental income increased by 54%, amounting to SEK 411 m (268).
- Profit from property management excluding listing expenses increased by 59% and amounted to SEK 222 m (139).
- Profit for the period was impacted by non-recurring costs of SEK 25 m (8) related to the IPO.
- Earnings per share after dilution amounted to SEK 2.4 (5.3).
- Net asset value (NAV) per share after dilution increased by 21% in the period and amounted to SEK 22.0.
- Sixteen properties and an area of land were acquired and taken into possession with a total lettable area of approximately 121,000 square meters and a property value of SEK 1,288 m (2,171).
- Sales of retail property in Malmö with an agreed property value of approximately SEK 144 m, just over 20% above the latest external market valuation.
- SLP has renegotiated approximately 41% of the existing loan portfolio into so-called secured green loans.
- Joined three leading initiatives for sustainable business: UN Global Compact, Sweden Green Building Council and LFM 30.
- Trading of the company’s Class B shares on Nasdaq Stockholm commenced 23 March with a significantly oversubscribed public offering of new Class B shares equivalent to SEK 750 m.
“In these uncertain times it feels comfortable to have long-term relationships with our banks, only secured bank financing and a loan-to-value ratio of 49.6 percent. The financial letting ratio at the end of the year was 95 percent and leases representing 52 percent of the contractual annual rent expire after 2027. During these times of high inflation, it is also reassuring that 98 percent of the rental agreements are protected against inflation,” comments Peter Strand, 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 16 February 2023, 08:45 a.m. CET.
The Year-end report will be presented via a recorded audiocast today at 10:00 a.m. CET. Peter Strand, CEO, and Tommy Åstrand, CFO, will comment on the results and operations. The presentation material (images+audio in Swedish) will be available at: https://slproperty.se/en/ir/reports-and-presentations/ and https://tv.streamfabriken.com/slp-q4-rapport-2022
For further information, please contact:
Peter Strand, CEO of SLP, telephone: +46 705 881 661
About SLP – Swedish Logistic Property
SLP – Swedish Logistic Property – is a Swedish real estate company with a focus on logistics properties. Since its inception, the company has maintained a high pace and in a short time has completed several high-profile acquisitions. SLP has a high ambition regarding sustainability and works responsibly from environmental perspectives. The company’s property portfolio comprises a lettable area of approximately 750,000 square meters. SLP’s share of series B is listed on Nasdaq Stockholm. For further information: 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 16-02-2023 08:45 CET.
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