Logistri (LOGIST) Q2 2025 earnings summary

Executive summary

• Rental income for Q2 2025 rose 35.1% year-over-year to SEK 44.8 million, with net operating income up 33.0% to SEK 41.6 million and a surplus ratio of 92.7%.

• Profit from property management decreased 3.5% to SEK 22.5 million, while profit after tax increased 30.7% to SEK 39.8 million.

• Four properties were acquired in Q2, strengthening the metropolitan portfolio, which now represents 37.9% of total market value.

• The Board introduced new financial targets: at least 15% annual growth in profit from property management per share and a minimum 15% return on equity over five years.

Financial highlights

• Rental income for H1 2025 increased 30.4% to SEK 85.5 million; net operating income rose 28.5% to SEK 79.2 million.

• Profit from property management for H1 fell 5.6% to SEK 42.8 million due to higher interest expenses from a green bond and new property acquisitions.

• Profit after tax for H1 increased 30.7% to SEK 69.8 million, or SEK 9.51 per share.

• Cash flow from operating activities was SEK 43.3 million, while investment activities led to a net cash outflow of SEK 419.2 million.

Outlook and guidance

• The company sees continued opportunities for profitable acquisitions in light industry, warehousing, and logistics, focusing on stable tenants and value-creating development.

• Updated financial targets emphasize profitable growth and increased shareholder returns.