Slide 1: Year-end Report 2024
Year-end Report 2024 13 February 2025 External
Slide 2: Logistea in numbers Q4 2024
Logistea in numbers Q4 2024 A leading Nordic light industrial and logistics company Lettable area per country Nasdaq Mid Cap 96.9% 3% A and B share Economic occupancy rate 4% 1% 5% 2% 12% ~13.2 BSEK 6.8% 58% Property value(a) Net initial yield 14% 143 9.7 years No. of properties Lease duration Value
Slide 3: Highlights 2024
Highlights 2024 13,2 BNSEK 7,8 BNSEK 890 SEK +144% +189% +168% GAV Market cap NOI 1,00 SEK Bond margin Average interest +22% PFPM/share 5.15% -> 2.75% 5.9%-5.0% Run rate Merger Positive Included in with net letting EPRA index KMCP + SEK5m 3
Slide 4: Merger rationale
Merger rationale Outcomes Operational motives • Economies of scale and increased interest as a ✓ Reduced central admin cost per sqm and per rental value significantly larger real estate company ✓ Increased deal flow across Nordics and continental Europe • Continued growth in combined markets ✓ Cross
Slide 5: Transactions Q4 2024 and YTD 2025
Transactions Q4 2024 and YTD 2025 Nässjö, Sweden Nyköping, Sweden Signed a greenfield development in Nässjö Sweden in Signed an agreement to acquire a logistics asset in Nyköping, November. Fully leased 15-year tiple net agreement with Sweden with a 6 year wault with a municipal counterparty. The In
Slide 6: Run rate earnings capacity SEKm
Run rate earnings capacity SEKm 924 47 876 84 73 401 Signed acquisitions / developments 11 Financial and operational improvements 341 506 462 14 30 61 61 11 391 Rental income Property Net operating Central admin Finance cost PFPM 01.01.2025 Operational Financial PPFM 01.01.2025 Nässjö Nyköping PPFM
Slide 7: 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 51% 6.3% 8.3 3% Other 5% Packaging Norway 27% 7.1% 9.9 6% Food industry 8% 46% Other Logis
Slide 8: 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 83.4% ~91% 99% ~97% 9.7 Triple net contracts1 CPI-indexed contracts Occupancy rate years wault Net letting Jan-Dec Oct-Dec MSEK 2024 2023 2024 2023 New le
Slide 9: Market update
Market update Rent prime logistics (SEK/sqm) Vacancy (%) 2 200 9,0% 2 000 8,0% 1 800 7,0% 1 600 6,0% 1 400 5,0% 1 200 4,0% 1 000 3,0% 800 2,0% 600 1,0% 400 0,0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Stockholm Gothenburg Oslo A Oslo B Cope
Slide 10: Financials
Financials ye
Slide 11: Earnings and profit (SEKm)
Earnings and profit (SEKm) Revenue Net operating income Profit from property management LTM LTM LTM • Majority of the revenue growth Quarter 653 Quarter Items affecting comp. 270 driven by acquisitions and some 601 Quarter increase in the LFL portfolio. 512 472 200 • Operating margin increased to 85
Slide 12: Access to a variety of funding sources
Access to a variety of funding Key metrics sources Loan-to-value 48.1% Debt composition 9% Secured loan-to-value 43.6% 0% Bank Bonds Equity ratio 45.6% Other Interest maturity 3.1 y Capital maturity 2.3 y 91% Hedge ratio 67.0% Net debt to EBITDA ratio 7.8 x Credit maturity profile (MSEK) 2,582 Bank
Slide 13: Debt portfolio update
Debt portfolio update Third quarter vs fourth quarter comparison 30.09.2024 31.12.2024 Loan Avg. Loan Avg. • Repaid remaining amount of Debt amount maturity amount maturity 75m on maturing SEK bond portfolio (SEKm) Margin % All in % Amort % yrs (SEKm) Margin % All in % Amort % yrs Bank loans 5 605 2
Slide 14: Financial targets and policy
Financial targets and policy >15% avg. growth in PFPM/sh over five-year period >15% avg. growth in NAV/sh over five-year period 0,8 60% 19,0 90% 0,7 17,0 70% 0,6 40% 15,0 50% 0,5 13,0 0,4 18% 20% 30% 11,0 15% 0,3 10% -6% 9,0 0,2 0% 7,0 -10% 0,1 0,0 -20% 5,0 -30% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 15: Outlook
Outlook ye
Slide 16: Continued growth through well known levers
Continued growth through well known levers Property value development and net initial yield Avg. Interest • Single asset acquisitions 14 Net initial yield 13,9 8,5 13,1 13,2 Property value (SEKbn) • Portfolio acquisitions 8,0 12 7,5 • Capex investments in existing 6,9% 6,8% 6,9% 10 7,0 portfolio 6,2
Slide 17: KMCP transaction closed: we are in a better position to execute on our strategy
KMCP transaction closed: we are in a better position to execute 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
Slide 18: Q&A
Q&A ye
Slide 19: Appendix
A Pp pendi x ye
Slide 20: Ownership and share performance
Ownership and share performance Share price performance Largest owners as of 31 Dec, 2024 SEK TSEK 20 1 000 000 Owner LOGI A LOGI B Capital, % Votes, % 900 000 Rutger Arnhult incl. Related parties 11,525,519 105,251,379 24.6 28.5 18 800 000 BEWI Invest AS 5,894,037 68,402,758 15.7 16.4 700 000 16 No
Slide 21: Consolidated income statement
Consolidated income statement MSEK Jan-Dec 2024 Jan-Dec 2023 Oct-Dec 2024 Oct-Dec 2023 +4.5% Like-for-like excl. rent Rental income 713 357 247 92 supplements Property costs -112 -95 +9.1% Like-for-like -32 -27 Net operating income 601 276 +1.0% Like-for-like 216 66 Central administration -81 -36 -2
Slide 22: Consolidated balance statement
Consolidated balance statement MSEK Dec 2024 Dec 2023 Comment Goodwill 1,089 - Property value 13,221 9,346 sek/sqm 5,386 8,468 sek/sqm Derivatives 40 6 Other assets and receivables 236 97 Cash and bank balances 376 29 Total assets 14,962 5,518 Equity 6,826 2,684 EPRA NRV 15.3 SEK/share Deferred tax
Slide 23: End
End ye