Swedish Logistic Property AB (SLP_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would like to welcome you to the presentation for the first quarter of 2025 for Swedish logistic property. My name is Tommy Åstrand and I'm the CEO of the company. And by my side, I have Matilda Ohlsson, CFO of the company. She will present the financial development later in the presentation. We have an agenda with some highlights from the period before we deep dive into the property portfolio and the financial development. With risk for repeating myself, we have had yet another very good quarter behind us. We are very pleased with the development of the company, not least considering the challenging macro environment we are living in with relatively high interest rates and recession. We continue to deliver in the daily work, both within portfolio management, but also within other parts of the company, such as financing and sustainability. We can see that in property costs that in principle are on the same level as of the same period last year, even though we have a substantial bigger portfolio now. Central administration is still on the same level. We have even lower margins on our loans. Our green transition delivers in big increases in certifications of our property. going out with 64% certified portfolio at the end of the quarter, and also a big increase in the sustainability financing of 93%. We increase our rental income with 42%, of course, explained by acquisitions and the CPI of 1.6, but also explain what the daily work that we do within property management. We increase our profit from property management with 51%, so we have actually managed to keep big parts of the increase in NOI in our result. Our loan-to-value is 48%, way below our long-term level of maximum 55%. We have an NAV growth with 4%, which is on track for our yearly goal of 15% per year. And...