Interim report January–March 2022: Strong financial base for further growth

With the listing in March 2022, SLP has been strengthened in several ways. The company has welcomed many new shareholders, has a stronger and broader capital base and, not least, the SLP business model and organisation have been analysed and highly rated by all stakeholders. These are important factors for SLP to continue to grow to meet its objectives.

• Rental income increased by 68%, amounting to SEK 97m (57).
• Profit from property management, excluding listing expenses increased by 71% and amounted to SEK 50m (29).
• Profit for the period was impacted by non-recurring costs of SEK 25m (0) related to the IPO.
• Earnings per share after dilution increased by 45% and amounted to SEK 1.0 (0.7).
• Net asset value (NAV) per share after dilution increased by 11% and amounted to SEK 20.2.
• Net rental income in the period amounted to SEK 3.7m (0.4).
• Significantly oversubscribed public offering for new Class B shares valued at SEK 750m, of which SEK 652m was raised in the period prior to transaction costs and the exercise of the overallotment option.
• On 23 March, trading of the company’s Class B shares on Nasdaq Stockholm commenced.
• Two properties were acquired and taken into possession with a total lettable area of approximately 21,000 square metres and a property value of SEK 186m (378).
• Acquisition of attractive land in Landskrona where an environmentally certified new production project of approximately 5,500 square meters will be built. A ten-year lease agreement for approximately 3,600 square meters with an annual rent of SEK 2.5m was signed with planned move-in in March 2023.
• A new share issue of SEK 145m was registered, which related of three SLP acquisitions during 2021 which were partly paid with shares.
• Viktoria Wöhl was recruited as environmental and sustainability manager, a new role to coordinate and lead the company’s environmental initiatives.

“It is pleasing that our first report as a listed company indicates continuous progress, both financially and operationally. Profit from property management in the first quarter amounted to SEK 50m excluding non-recurring items, equivalent to an increase of 71 percent year-on-year,” commented 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 04-05-2022 08:45 CET.

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