Logistea AB (publ) (LOGI_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the presentation of Logistea's first quarter of 2025. Presenting as usual is myself, Niklas Huckeman and Filip Lövgren. We'll be happy to answer any questions you might have after the presentation. We have continued to grow the company and we'll present the most recent acquisitions shortly. The portfolio is valued at 13.5 billion SEK. And if adding the most recent transaction, we're up at 14.2 billion SEK. We continue to show low rents per square meter at 669 kronor. And the occupancy rate is up to 97.1% from 96.9% the previous quarter. The reported NRV per share is 15.4%. And we continue to have a very low LTV at 48.3%. Highlights for the first quarter include income, NOI, and income from property management that is up, as you can see, between 123 and up to 229% compared to the first quarter of 2024. we're happy to present that the percentage increase of income from property management is higher both than the NOI and the income and maybe more importantly we're very happy to present the 54% increase from income from property management per share uh we continue to own a portfolio with stable income our releases runs in average for another 9.3 years the net initial yield is flat at 6.8 percent and we have a very healthy balance sheet with low ltvs we have so far added the properties to the right as you can see at a total value of more than one billion sec The properties are fully leased with a vault of nine years and the combined acquisition yield is 8.5%. And this should be compared to our average cost of debt, which is 4.8% and new financing in Sweden at approximately 4%. We continue to see interesting investments in all of the Nordic market and we have a very good pipeline. And a few words on the individual properties. The new shipping pr...