The Board of Directors proposes to the Annual General Meeting on April 24, 2025 to pay an amount of SEK 5.20 (5.20) per share to the shareholders.
Full year January - December 2024
- Revenue increased by 18.7% to SEK 135.0 (113.8) million
- Net operating income increased by 19.6% to SEK 123.7 (103.4) million and the surplus ratio to 91.6% (90.9)
- Income from property management increased by 24.4% to SEK 84.8 (68.2) million
Period 2024-01-01 - 2024-12-31 in summary
- Income amounted to TSEK 135,057 (113,811)
- Net operating income amounted to TSEK 123,709 (103,431), with a surplus ratio of 91.6% (90.9)
- Income from property management amounted to TSEK 84,808 (68,191)
- Profit after tax amounted to KSEK 64,390 (64,550), corresponding to SEK 8.78 (14.38) per share, excluding non-recurring items it amounted to SEK 112.2 million, corresponding to SEK 15.30 per share
- Cash flow from operating activities amounted to TSEK 71,887 (71,102)
- The market value of the property portfolio amounted to TSEK 2,092,689 (1,608,600)
- Net asset value per share amounted to SEK 160.27 (155.94) per share
- The interest coverage ratio was 4.4 (4.1) times and the net loan-to-value ratio was 44.5 (33.0) %
- The property's property yield was 7.22% (6.60)
Fourth quarter October - December 2024:
- Revenue increased by 37.4% to SEK 36.3 (26.4) million
- Net operating income increased by 31.7% to SEK 31.1 (23.6) million and the surplus ratio was 85.8% (89.5)
- Income from property management increased by 18.4% to SEK 17.5 (14.8) million
Period 2024-10-01 - 2024-12-31 in summary
- Revenues amounted to TSEK 36,299 (26,414)
- Net operating income amounted to TSEK 31,127 (23,632), with a surplus ratio of 85.8% (89.5)
- Income from property management amounted to TSEK 17,469 (14,759)
- Profit after tax amounted to TSEK -6,580 (17,632), corresponding to SEK -0.90 (4.70) per share, excluding non-recurring items it amounted to SEK 41.2 million, corresponding to SEK 5.62 per share
- Cash flow from operating activities amounted to TSEK 28,725 (42,205)
- The market value of the property portfolio amounted to TSEK 2,092,689 (1,608,600)
- Net asset value per share amounted to SEK 160.27 (155.94) per share
- The interest coverage ratio was 3.0 (3.7) times and the net loan-to-value ratio was 44.5 (33.0) %
- Property yield was 7.25% (6.05)
Significant events during the fourth quarter:
- During the fourth quarter, Logistri took possession of six properties with a total value of SEK 313.2 million. The total leasable area amounts to 19,006 m2 and rental income increases by approximately SEK 23.4 million through the acquisitions. In total, during the year, Logistri completed 8 acquisitions and took possession of properties worth SEK 425.8 million and the leasable area amounts to 24,835 m2. Rental income will increase by approximately SEK 30 million per year through the acquisitions.
- A binding agreement for the acquisition of a property in central Malmö of SEK 80.2 million was signed during the quarter, with completion in the second quarter of 2025.
- On 13 November, Logistri issued senior unsecured green bonds in an amount of SEK 300 million within a framework amount of SEK 600 million. The company has also entered into loan agreements of SEK 165 million with Swedbank and Sörmlands Sparbank.
- The final agreement with Logistri insurance company on insurance compensation for the fire in the Skyttbrink 29 property has resulted in a write-down of the insurance claim of SEK -47.8 million.
- Logistri has successfully completed a major project lease with a 10-year triple net lease agreement with Movator AB for 100% of the project property Skyttbrink 29 in Botkyrka.
- On December 30, a new 10-year lease agreement was signed with AB Gustaf Kähr regarding the property Tallen 58 in Nybro. Kährs already leases the entire property, which comprises approximately 21,000 m2.
- Joachim Carlsson, who was hired as CFO and took up the position on October 7. Sofia Aasvold was hired as Head of Property Management and took up the position on January 13, 2025.
For further information, please contact
David Träff, CEO
Logistri Fastighets AB (publ)Phone: + 46 (0) 70 089 04 66
david.traff@logistri.se
Logistri Fastighets AB (publ) in brief
Logistri Fastighets AB (publ) is a real estate company that invests in commercial properties primarily in the light industry, warehousing and logistics segments. The vision is to be a stable and long-term partner to companies that demand business-adapted and sustainable premises.
The company's overall objective is to generate a stable cash flow and a high risk-adjusted return with high customer confidence. Our tenants are active in various industries, most of which are Swedish and international industrial and engineering companies. The properties are located in Stockholm, Gothenburg and in southern and central Sweden, in close proximity to strategic infrastructure such as major roads, railways and ports. The company is headquartered in Stockholm. The company's share was listed on the Spotlight Stock Market in 2017. As of August 30, Logistri is included in the MSCI Global Micro Cap index.
For more information regarding Logistri Fastighets AB (publ), please visit www.logistri.se and www.spotlightstockmarket.com.
This information is information that Logistri Fastighets AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-19 12:09 CET.
