Logistea AB (publ) (LOGI_B) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the presentation of Logistea's first quarter of 2026. Here present myself, Niklas Uckeman and Filip Löfgren. As always, we'll take any questions after the presentation. We have during the beginning of the year continued to deliver on our business plan, meaning building a platform and portfolio of long list properties within logistics, warehouse and light industrial. The main focus for continuous growth is the Nordics. And we have only during the quarter of this, the first quarter of this year, acquired properties at a value of 1.3 billion SEK in Sweden and Finland. As I said, the focus has been to invest and develop fully leased properties, long leases and stable and profitable tenants. The average lease duration is 9.1 years. And we're showing an overall occupancy rate of 97%. We have had a flying start of the year and this quarter is probably our strongest quarter ever. The income is up 21%, the net operating income is up 23% and the income from property management is up to 148 million SEK in the quarter, representing an increase by 29%. We have during the quarter acquired properties at a value of 1.3 billion SEK and we're coming back to those. We have also had a very good start of the year when it comes to leasing, and I'm extremely proud to show a positive net leasing of 22 million SEK for the first three months. The income from property management per share in the earnings capacity is up 26% in one year. And we're finally positioned to continue to grow via acquisitions, developments and investments in our own portfolio with a cash balance of 574 million SEK. The yield gap remains high, 2.5%, where we have seen lowered cost of debt over time and a fairly stable net initial yield. And as I said, we are now at a total property v...