Logistea AB (publ) (LOGI_B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the presentation of Logistea's Q4 and full year end report. As always, myself, Niklas and Philip Löfgren, CEO of the company. We have during the year continued to deliver on our strategy to build a portfolio of properties with long lease durations, stable cash flow and profitable tenants. We currently hold 155 properties at a value of some 15.7 billion SEK. The occupancy remains high and stable at almost 97%. The vault also remains high and the NRV per share now stands at 16 kroner 60 öre. The leasing market has improved and we'll give you some examples of that later in the presentation. Looking at the highlights for 2025, and 2025 was a very active year for us at Logistea. We are reporting almost 1.1 billion SEK of income for the full year, an increase by 52% compared to last year. The NOI is up 62% for the same period and the income from property management is up even more 142% equals to some 511 million SEK for the full year. And the income from property management per share is up SEK or in 15% increase compared to the beginning of the year. We have in addition to that completed projects at a value of 364 million SEC, meaning that the portfolio has increased by more than two and a half billion SEC in one year. The cash flow continues to improve, and we're reporting a 58% increase year over year. And finally, looking at the strength of the balance sheet, we're reporting a very low 7.9 times net debt to EBITDIA. As I said, we have continued to grow the portfolio over the year. Yields, i.e. net income over property value, have remained fairly stable, whereas the average cost of debt has come down. But we are now reporting a yield gap that is at 2.4%, as you can see to the right on this slide. And then moving on to the transaction ...