Swedish Logistic Property (SLP) investor relations material

Executive summary

• Rental income increased 24% year-over-year to SEK 607m, with net operating income up 25% to SEK 535m and profit from property management up 29% to SEK 360m.

• Strong net letting of SEK 33.9m, major new leases, and development projects drove high occupancy (letting ratio 95.7–96%).

• The property portfolio expanded to 131 properties valued at SEK 19.7 billion, totaling 1,635,000 sqm, with three new acquisitions adding 122,000 sqm.

• Sustainability targets were met ahead of schedule, including 25 MWp of installed solar power capacity and SBTi-validated climate targets.

• Net asset value (NAV) per share increased 5% to SEK 35.32.

Financial highlights

• Rental income rose 24% year-over-year, driven by acquisitions and development projects.

• Profit from property management increased 29% year-over-year to SEK 360m; per share up 19% to SEK 1.28, exceeding the 15% target.

• Net operating income (NOI) reached SEK 535m, up 25% from SEK 427m in the same period last year.

• Value changes in properties totaled SEK 127m.

• Cash flow from operating activities before working capital changes increased 26% to SEK 354m.

Outlook and guidance

• Positive outlook for further acquisitions and development, supported by strong financial position and active transaction market.

• Focus remains on sustainable growth, targeting at least 15% annual growth in NAV and profit from property management per share.

• Ongoing and planned development projects expected to further enhance rental income and property value.

• Market conditions remain favorable despite geopolitical uncertainty, with no significant negative impact on tenant activity or project execution.