Logistea (LOGI) Q4 2025 earnings summary

Executive summary

• Portfolio expanded to 155 properties valued at SEK 15.7 billion, with economic occupancy at 96.9% and an average lease term of 9.4 years.

• Full-year income rose 52% to SEK 1,083 million; net operating income up 62% to SEK 976 million, driven by acquisitions and project completions.

• Profit from property management increased 142% to SEK 511 million; profit before tax more than doubled to SEK 1,030 million.

• Major logistics project for Intersport completed, adding SEK 204 million in investment and SEK 14.7 million in annual rental income.

• Board proposes a dividend of SEK 0.20 per share for 2025, the first in company history.

Financial highlights

• Rental income increased 52% year-over-year to SEK 1,083 million; net operating income up 62% to SEK 976 million.

• Q4 revenue reached SEK 285 million, up from SEK 247 million year-over-year.

• Profit from property management per share increased 41% for the year; earnings per share before dilution rose to SEK 1.58.

• EPRA NRV per share increased to SEK 16.7; five-year average annual increase is 22.5%.

• Cash flow from operating activities grew 58% year-over-year to SEK 465 million.

Outlook and guidance

• Well positioned for 2026 with a SEK 15.7 billion portfolio, stable cash flows, and a low loan-to-value ratio.

• Focus remains on shareholder value through active management, selective acquisitions, and new developments in the Nordics.

• Board targets at least 15% annual growth in profit from property management and net asset value per share over five years.

• Positive start to 2026 with new leases signed, expected to add SEK 10 million to net letting.

• Earnings capacity per share now at SEK 1.24, reflecting recent acquisitions.