Logistea AB (publ) (LOGI_B) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the presentation of Logistea's first half year of 2025. Here to present is myself, Niklas Huckeman, and our CFO, Philip Löwgren. We will answer any questions after this presentation, and you can submit questions written as they pop up. As some of you might remember, we had an old goal to reach 15 billion SEK worth of properties. We are today at a bit more, 15.2 billion SEK. Total rents for the first time exceeds 1 billion SEK. And we continue to report high occupancy and high net initial yield of 6.8%. Looking at the financials for the first half year, we are reporting income of 511 million SEK representing an increase of 131%. The NOI amounts to 456 million SEK and the profit from property management amounts to 246 million, an increase by an impressive 267% compared to last year. And maybe most important, the profit from property management per share has increased by 74% compared to last year. The vault remains high at 9.6 year, and the net LTV is down to 47% following the rights issue undertaken a few weeks ago. It's been a very active 2025 for us at Logistea. We have during the last quarter purchased two properties. The first one is a 36,000 square meter property fully leased to e-commerce company Lyko on a 19 year lease, the one to the top. The second property is in Hämeenlina in Finland. Lettable area 22 000 square meters and the property is fully leased to a strong tenant on a 10-year lease. And we have furthermore this morning announced an acquisition of two properties in Ulricehamn and Tranemo in Sweden. Both properties are leased to AP&T, and they're a leading industrial company providing production lines, automatization system, and service hydraulic presses. The two properties, of which the one in Lisehamn is by far the largest, ...