Logistea AB (publ) has today published its report for the third quarter of 2022.
Summary July – September 2022
- Rental income increased by 207 percent and amounted to SEK 70 million (23).
- Net operating income increased by 185 percent to SEK 54 million (19).
- Profit from property management increased to SEK 22 million (3).
- Profit before tax amounted to SEK 67 million (15), as changes in the value of properties had a positive impact on earnings of SEK 37 million (12).
- Earnings per share amounted to SEK 0.45 (0.13).
- Net asset value per share increased to SEK 16.9 (9.6)
- Two properties acquired in Kumla, with 10,200 sqm of lettable area and 10,000 sqm of building rights with a total property value of SEK 79.4 million.
- The property Stödstorp 1:7 in Vaggeryd Logistikpark was certified according to BREEAM In Use Very Good.
Summary January – September 2022
- Rental income increased by 194 percent and amounted to SEK 177 million (60).
- Net operating income increased by 187 percent to SEK 126 million (44).
- Profit from property management increased to SEK 52 million (8).
- Profit before tax amounted to SEK 414 million (124), as changes in the value of properties had a positive impact on earnings of SEK 351 million (116).
- Earnings per share amounted to SEK 3.03 (1.15).
- 26 properties acquired, corresponding to 198,372 sqm of lettable area and 30,000 sqm of building rights at a total property value of SEK 1,158 million.
- A total of 24,564,885 shares issued, of which 19,428,133 through a preferential rights issue of SEK 350 million before issue costs 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. The properties contribute with an annual net operating income of SEK 14.5 million.
“Logistea is once again reporting strong numbers. We are proud to report that revenue for the period January to September increased to SEK 177 million (60) and profit from property management to SEK 52 million (8). Profit before tax amounted to SEK 414 million (124), where unrealized changes in the value of the property portfolio amounted to SEK 351 million,” 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 today on Logistea’s website (link)