Logistea AB (publ) has today published its report for the second quarter of 2022.
Summary April – June 2022
- Rental income increased by 196 percent and amounted to SEK 56 million (19).
- Net operating income increased by 207 per cent to SEK 39 million (13).
- Profit from property management increased significantly, to SEK 18 million (2).
- Profit before tax amounted to SEK 155 million (104), as changes in the value of properties had a positive impact on earnings of SEK 135 million (102).
- Earnings per share amounted to SEK 1.11 (0.94).
- Net asset value per share increased to SEK 16.3 (11.8)
- Preferential rights issue of SEK 350 million before issue costs completed during the quarter. A total of 19,428,133 ordinary shares were issued, corresponding to 16.7 per cent of the total number of votes in Logistea.
- 20 properties acquired, corresponding to 163,917 sqm of rentable area and 10,000 sqm of building rights with a total property value of SEK 966 million.
- 9,000 sqm of new construction in Borås completed and accessed by the tenant Cellbes.
- New development of 4,500 sqm in Timrå started for the tenant Nordic Netstores.
Summary January – June 2022
- Rental income increased by 187 per cent and amounted to SEK 106 million (37).
- Net operating income increased by 187 per cent to SEK 72 million (25).
- Profit from property management increased significantly, to SEK 31 million (5).
- Profit before tax amounted to SEK 347 million (110), as changes in the value of properties had a positive impact on earnings of SEK 314 million (105).
- Earnings per share amounted to SEK 2.62 (0.96).
- 24 properties acquired, corresponding to 188,172 sqm of rentable area and 20,000 sqm of building rights at a total property value of SEK 1,144 million.
- A total of 24,564,885 shares issued, of which 19,428,133 through a preferential rights issue and 5,136,752 shares in directed issues to finance property acquisitions.
- A total of 22,500 sqm of new construction completed and accessed by the tenants, of which 13,500 sqm in Vaggeryd logistics park during the first quarter and 9,000 sqm in Borås during the second quarter.
“Logistea continues to grow, and during the second quarter we acquired properties worth SEK 966 million. This means that we now have a portfolio of properties worth almost SEK 4.2 billion and continue our journey towards becoming one of the leading real estate companies in warehousing, logistics and light industry. We are also in line with achieving our goal of a property value of more than SEK 15 billion by the end of 2024,”
said Niklas Zuckerman, CEO of Logistea.
A presentation is available on Logistea’s website (link).
Listen to CEO Niklas Zuckerman commenting on the results in the podcast Kvartalet, available from 8.00 am today on Logistea’s website (link).