Swedish Logistic Property AB (SLP_B) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Then we would like to welcome you to the presentation for the first six months 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 Wilson. She's the 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, of course, the financial development of the company. 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, proved by a high surplus ratio. Central administration still on the same level, even though we have a much bigger portfolio. Low margins on our loans. Our green transition delivers in big increases in certifications of our properties. We are now at 64% at the end of the quarter. And also a big increase in sustainable financing, summing up to 94% of the portfolio at the end of Q2. We increase our rental income with 46%, of course, partly explained by acquisitions, but also the daily work within property management. We increase our profit from property management with 53%. We have managed to keep big parts of the increase in NOI in our result. Our loan-to-value is 49%, way below our long-term level of maximum 55%. And we have a growth in profit from property management of 34% per share and 7% increase in NAV, meaning on track for the yearly goal of 15% per year. We have a strong interest coverage ratio of 3.1 times, which is an effect of our strong work within property management, good negotiations with our banks, and effective pro...