Slide 1: Interim report Q1 2025
Interim report Q1 2025 7 May 2025 External
Slide 2: Logistea in numbers Q1 2025
Logistea in numbers Q1 2025 A leading Nordic light industrial and logistics company Lettable area per country Nasdaq Mid Cap 97.1% 3% A and B share Economic occupancy rate 4% 1% 5% 2% 11% ~13.5 BSEK 6.8% 59% Property value(a) Net initial yield 14% 146 9.3 years No. of properties Lease duration Value
Slide 3: Highlights Q1 2025
Highlights Q1 2025 248 MSEK 216 MSEK 115 MSEK 0.24 SEK +123% +177% +229% +54% Income NOI PFPM PFPM per share 9.3 years 6.8% 48.3% 7.8x WAULT Net initial yield Net LTV Net debt to EBITDA ratio 3
Slide 4: Accretive growth through acquisitions
Accretive growth through acquisitions Acquisition highlights YTD Nyköping • Three acquisitions of which Nyköping closed in Q1 and the Purchase price: SEK 450m Rental value: SEK 43,9m remaining in Q2 Lettable area: 44,867 sq.m. • Nyköping: 450 MSEK Tenant: Fully leased to Nyköping municipality • Stav
Slide 5: Run rate earnings capacity SEKm
Run rate earnings capacity SEKm 10% 12% 25 522 29 497 476 -8 PFMP Transactions FX-effect PFMP Transactions PFMP 1 Jan 2025 Q1 and other 1 Apr 2025 closed in April 7 May 2025 SEK 1.00 SEK 1.05 SEK 1.10 Per share Per share Per shares 5
Slide 6: Strong tenants diversified across industries and regions
~80% of exposure in Norway and Sweden Strong tenants diversified across industries and regions NOI NIY WAULT Tenant diversification Industry diversification Share of rental income Share of rental income Sweden 54% 6.5% 8.3 3% Other 5% Packaging Norway 25% 7.1% 9.7 6% Food industry 8% 44% Other Logis
Slide 7: Long-term asset commitments reflected in contract structure
Long-term asset commitments High visibility in future rental income reflected in contract structure Contractual rent maturity profile Key figures 82.0% ~91% 99% ~97% 9.3 Triple net contracts1 CPI-indexed contracts Occupancy rate years wault Net letting Jan-Mar Apr-Mar Jan-Dec MSEK 2025 2024 24/25 20
Slide 8: Market update
Market update Rent prime logistics (SEK/sqm) Vacancy (%) 1 800 10% 1 600 8% 1 400 6% 1 200 4% 1 000 800 2% 600 0% Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Stockholm Oslo Copenhagen Hels
Slide 9: Financials
Financials ye
Slide 10: Earnings and profit (SEKm)
Earnings and profit (SEKm) Revenue Net operating income Profit from property management • Operating margin increased to 849 739 87.7% (77.2) and adjusted 713 600 291 operating margin increased to 94.2% (90.2) on a 12-month 559 450 182 211 basis. 301 371 403 251 269 276 287 303 103 107 116 122 115 •
Slide 11: Access to a variety of funding sources
Access to a variety of funding Key metrics sources Loan-to-value 48.3% Debt composition 0% Secured loan-to-value 42.0% 12% Bank Bonds Equity ratio 44.2% Other Interest maturity 3.1 y Capital maturity 2.5 y 88% Hedge ratio 73.9% Net debt to EBITDA ratio 7.8 x Credit maturity profile (MSEK) 2,582 Bank
Slide 12: Debt portfolio update
Debt portfolio update Fourth quarter vs first quarter comparison 31.12.2024 31.03.2025 Loan Avg. Loan Avg. • Tap issue on green bond loan of Debt amount maturity amount maturity SEK 250m at 3mS + 275 bps portfolio (SEKm) Margin % All in % Amort % yrs (SEKm) Margin % All in % Amort % yrs Bank loans 6
Slide 13: Financial targets and policy
Financial targets and policy >15% avg. growth in PFPM/sh over five-year period >15% avg. growth in NRV/sh over five-year period LTV <60% ICR >1.8x 13
Slide 14: Outlook
Outlook ye
Slide 15: Continued growth through well known levers
Continued growth through well known levers Property value development and net initial yield Avg. Interest • Single asset acquisitions Net initial yield 13.5 13.9 14 13.1 13.2 8.5 Property value (SEKbn) • Portfolio acquisitions 8.0 12 7.5 • Capex investments in existing 6.9% 6.8% 6.8% 6.9% 10 7.0 por
Slide 16: We are well position to continue executing on our strategy
We are well position to continue executing on our strategy ✓ Diversified exposure by geography, tenants and industries ✓ Triple net lease contracts reflecting long-term commitment/wault ✓ Access to attractive funding sources supportive of growth strategy ✓ Long track record and proven accretive grow
Slide 17: Q&A
Q&A ye
Slide 18: Appendix
A Pp pendi x ye
Slide 19: Ownership and share performance
Ownership and share performance Share price performance Largest owners as of 31 Mar, 2025 SEK TSEK 20 1 000 000 Owner LOGI A LOGI B Capital, % Votes, % 900 000 Rutger Arnhult incl. related parties 10,663,261 86,423,196 20.5 27.2 18 800 000 BEWI Invest AS 5,894,037 68,402,758 15.7 17.9 700 000 16 Nor
Slide 20: Consolidated income statement
Consolidated income statement MSEK Jan-Mar 2025 Jan-Mar 2024 Rental income 248 111 -0.6% Like-for-like excl. rent supplements Property costs -32 -33 -6.6% Like-for-like Net operating income 216 78 -2.0% Like-for-like Central administration -19 -10 Net financial income -82 -33 4.8% interest Profit fr
Slide 21: Consolidated balance statement
Consolidated balance statement MSEK Mar 2025 Mar 2024 Comment Goodwill 1,066 - Property value 13,545 9,273 sek/sqm 6,001 8,997 sek/sqm Derivatives 54 22 Other assets and receivables 244 106 Cash and bank balances 586 289 Total assets 15,495 6,418 Equity 6,854 3,071 EPRA NRV 15.40 SEK/share (13.9) De
Slide 22: End
End ye