Interim report January–March 2023: Strong net rental income and financial flexibility
Despite challenging conditions in the wider world, it is pleasing to report continued positive financial and operational development during the quarter. This is proof that our business model delivers. Rental income increased by 39 percent during the quarter and profit from property management increased by 37 percent year-on-year.
- Rental income increased by 39%, amounting to SEK 134 m (97).
- Net operating income increased by 47%, amounting to SEK 108 m (73).
- Profit from property management excluding listing expenses increased by 37% and amounted to SEK 69 m (50).
- Earnings per share after dilution amounted to SEK 0.22 (1.04).
- Net asset value (NAV) per share after dilution increased by 2% in the period and amounted to SEK 22.43.
- Sustainable financing increased by SEK 210 m during the period and amounted to SEK 1,910 m (0) at the end of the period, which corresponds to 43% of the loan portfolio. The output from installed solar cell systems increased by 0.7 MW during the period and totalled 5.1 MW (0.8) at the end of the period.
- Two properties and an area of land were acquired and taken into possession with a total lettable area of approximately 68,700 square metres and a property value of SEK 548 m (186).
- The current CFO Tommy Åstrand has been appointed the new CEO of SLP and will take up his new role after the AGM on 26 April. The Nomination Committee proposes Peter Strand as Executive Vice Chairman of the Board. At the same time, Matilda Olsson, the current Finance Director, will take over as CFO.
- A new sustainability policy and sustainability framework have been adopted. The sustainability framework spans three focus areas - Planet, People and Business.
”We are seeing continued strong demand for modern, sustainable logistics spaces. Net rental income amounted to SEK 8.4 m during the quarter, which is a very satisfactory level. One vital cornerstone of our work is establishing long-term relationships with our tenants. It is a seal of approval that they continue to extend their rental agreements with us.”, comments Peter Strand, CEO of SLP.
The interim report will be presented via a recorded audiocast today at 10:00 a.m. CEST. 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://ir.financialhearings.com/slp-q1-2023
For further information, please contact:
Peter Strand, CEO of SLP, telephone: +46 705 881 661
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 26 April 2023, 08:45 a.m. CEST.
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. 860,000 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 26-04-2023 08:45 CET.
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