Interim report
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| 1 | Logistri Fastighets AB (publ) Interim report January - September 2025 3 Interim report January - September 2025
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| 2 | Logistri Fastighets AB (publ) Interim report January - September 2025 | 2 | • Rental income increased by 33.9% to SEK 132.3 million (98.8) • Net operating income increased by 32.3% to SEK 122.5 million (92.6) and the surplus ratio was 92.6% (93.8) • Profit from property management decreased by 2.6% to SEK 65.7 million (67.3) • Profit for the period increased by 47.9% to SEK 105.0 million (71.0), corresponding to SEK 1.43 per share (0.97) Period January - September 2025 Significant events during the quarter In July, possession of the Lerum Berg 1:44 property was taken possession of at an agreed property value of SEK 33 million. The leasable area amounts to 2,530 m2. The annual rental income amounts to SEK 2.3 million and the remaining lease period is 12 years. In July, two light industrial properties, Falkenberg Elektrikern 2 and Gislaved Ölmestad 8:261, were acquired at an agreed property value of SEK 108 million. The leasable area amounts to 16,500 m2. Annual rental income amounts to SEK 8.7 million and the remaining lease period is 9 years. The property in Falkenberg was taken possession of in September and the property in Gislaved will be taken possession of in October. In September, a loan agreement with a total loan volume of SEK 959 million was entered into with a Swedish bank. The loan will be used to, among other things, repay loans with M&G with maturity on 20/07/2026. The new loan expands the Group’s loans and provides SEK 185 million in liquidity that can be used for value-creating investments in real estate. For more information on the refinancing, see p. 15. Significant events after the end of the period On 8 October, an accelerated book building procedure was carried out and the Board of Directors resolved on a directed share issue of 16,600,002 Class B shares, and at the same time proposed that an Extraordinary General Meeting resolve on a directed share issue of 6,733,332 Class B shares to certain existing shareholders who are also members of the Board of Directors. On October 27, the Extraordinary General Meeting resolved on a new issue of 6,733,332 shares of series B. Through the new issue of the total of 23,333,334 Class B shares, Logistri received proceeds of approximately SEK 350 million. On October 31, an agreement was entered into for the acquisition of two properties in Ludvika. Two buildings totalling approximately 103,000 m² will be constructed on the properties. The buildings will house Hitachi Energy Sweden AB’s new logistics center and a 15-year lease has been signed. The agreed property value in the transaction amounts to SEK 1,254 million, which gives a property yield of 7.1%. The properties are expected to be taken possession of in January 2026 and the buildings are completed in early 2027. On 4 November, two properties in Tranås were taken possession of in a sale and lease- back transaction. The tenant signed a 20-year triple-net lease in connection with the transaction. The properties comprise a total leasable area of 13,150 m2. The total land area amounts to 33,443 m2 and the annual rental income amounts to approximately SEK 6.7 million. Quarter July - September 2025 Jan-Sep Jul-Sep Oct-Sep Jan-Dec Key figures 2025 2024 2025 2024 2024-2025 2024 Rental income, SEK thousand 132 99 47 33 169 135 Net operating income, SEK thousand 122 93 43 31 154 124 Profit from property management, SEK thousand 66 67 23 22 83 85 Earnings after tax, SEK thousand 105 71 35 18 98 64 Property value, SEK million 2,733 1,744 2,733 1,744 2,733 2,093 Property yield, % 6.4 7.2 6.3 7.1 6.3 7.2 Interest coverage ratio, multiple 2.5 4.9 2.4 4.9 2.6 4.4 Net LTV, % 52.0 35.9 52.0 35.9 52.0 44.5 Key figures per share, SEK 1 Profit from property management 0.90 0.92 0.31 0.30 1.13 1.16 Earnings after tax 1.43 0.97 0.48 0.24 1.34 0.88 NRV 17.26 16.14 17.26 16.14 17.26 16.03 Profit from property management decreased during the period when the company raised a green unsecured bond of SEK 300 million at the end of 2024 and the company has continuously taken possession of nine new properties during the period, whose income has not yet had its full effect during the period. 1 Key figures for 2024 are adjusted for share splits • Rental income increased by 40.9% to SEK 46.8 million (33.2) • Net operating income increased by 40.0% to SEK 43.3 million (30.9) and the surplus ratio amounted to 92.5% (93.1) • Profit from property management increased by 4.0% to SEK 22.9 million (22.0) • Profit for the period increased by 100.5% to SEK 35.2 million (17.6), corresponding to SEK 0.48 per share (0.24) This is an unofficial translation of the Swedish original. In case of differences, the Swedish version shall prevail. Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors Logistri Fastighets AB (publ) Interim report January - September 2025
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| 3 | Logistri Fastighets AB (publ) Interim report January - September 2025 Continued growth and value creation through long-term investments During the third quarter, Logistri continued to develop in line with our long-term strategy – to invest in mission-critical properties and create stable returns through strong and sustainable rental relationships. The quarter was characterized by three important events that together strengthened the company’s growth, financing and market position. Strategic collaboration with Hitachi Energy In September, we signed a letter of intent with Torngrund Group regarding the develop- ment of Hitachi Energy Sweden’s new logistics center in Ludvika. The project com- prises two buildings totalling approximately 103,000 m² with an agreed property value of SEK 1,254 million and a 15-year lease. It is one of our most significant projects to date and strengthens our collaboration with one of our largest and most long-term tenants. The transaction is fully in line with our strategy to grow through investments in mission-critical assets and to build partnerships with market-leading companies. Strengthening financing and increasing financial flexibility During the quarter, we also secured a new loan of SEK 959 million with a Swedish bank, which replaces existing financing and extends the company’s average tied-up capital to three years. The new structure strengthens our financial position, reduces refinancing risk and frees up SEK 185 million in liquidity that can be used for value- creating investments. Through a high degree of interest rate hedging and a long-term financing strategy, we continue to create stable and predictable cash flows over time. Capital injection for profitable growth After the end of the quarter, Logistri carried out a directed share issue that provides the company with approximately SEK 350 million before transaction costs. The issue enables financing of future investments, including the planned acquisition of the logistics properties in Ludvika, and at the same time contributes to a broadened shareholder base. The strong interest from both Swedish and international investors confirms the market’s confidence in Logistris’ business model and long-term strategy. Focus ahead Logistri is now financially stronger than ever, with a growing portfolio of attractive properties, long-term leases and good access to capital. Our ambition is to continue to grow with high profitability and create long-term value for our shareholders. The progress made in recent quarters shows that our model – combining operationally important properties with strong partnerships and financial discipline – continues to deliver results. Growth is picking up speed and we are well on our way to reaching our operational and financial targets earlier than planned David Träff CEO Comments by the CEO Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 4 | Logistri Fastighets AB (publ) Interim report January - September 2025 E22 E65 E6 E4 E6 E45 E18 E45 E18 E20 E22 E4 E22 E6 E20 MALMÖ JÖNKÖPINGGÖTEBORG ÖREBRO STOCKHOLM EXISTING STOCK AGREED ACQUISITION, NOT TAKEN OVER x8 Why invest in Logistri? Financial targets • Profit from property management per ordinary share shall increase by at least 15% per year on average over a five-year period • Return on equity shall amount to at least 15% over a five-year period • The net loan-to-value ratio shall not exceed 58% in the long term • The interest coverage ratio must exceed 2.0 times Logistri Fastighets AB is a stable and long-term value-creating real estate company specializing in commercial properties for light industry, warehousing and contracting operations. Since its inception in 2017, the company’s property portfolio has grown successfully with continuously good profitability and a strong financial position. The vision is to be a stable and long-term partner to companies that demand business-adapted and sustainable premises. The company’s overall objective is to generate a stable cash flow and a high risk-adjusted return with high customer confidence. This is Logistri x7 Long-term customer relationships Logistri is a stable and long-term partner to our tenants in business-adapted and sustainable premises. This creates the conditions for good cooperation and high customer trust with tenants who choose to stay rather than move. Real estate segment with stable demand – ”mission critical” Logistris’ properties represent an operationally and strategically important asset for our tenants that are critical to their business. Changing supply chains and a desire to move production closer to the consumer are strengthening the demand for premises for production and warehousing in Sweden. Focus on cash flow, stable returns and conservative risk profile This is made possible by strong cash flow underpinned by a consistently high surplus ratio due to that most leases are triple-net agreements with low operational cost risks. This, combined with good risk diversification of the company’s revenues, creates a robust business in a changing market. Strong balance sheet and groving dividend capacity Going forward, the company intends to continue to be a company with increasing dividends with a growth component made possible by add-on acquisitions and customer-oriented management. Since the company’s founding, Logistri has paid a quarterly dividend and at the same time had strong underlying value growth. Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 5 | Logistri Fastighets AB (publ) Interim report January - September 2025 Rental income Income increased by 33.9% to SEK 132.3 million (98.8) as a result of annual index increases and the effect of property acquisitions during the period, as well as the full quarterly effect of acquisitions and renegotiations carried out in 2024 and the first three quarters of 2025. For the acquisitions made in 2025, the effect on earnings will have a full impact in 2026. Property costs Costs in property management increased to SEK 7.3 million (4.1). Costs for operation and maintenance naturally vary over time and cover a smaller part of the property portfolio, in addition to this, the add-on acquisitions have increased the cost base. Over 93% of the company’s total revenue relates to leases, triple net agreements, where the company has no or very low costs for the operation and maintenance of the properties. Administrative expenses Administrative expenses increased to SEK 13.1 million (8.7) compared with the same period last year, mainly due to the fact that the company has hired staff and that the property portfolio is growing. Administrative expenses corresponded to 9.9% (8.8%) of the company’s revenues at the end of the period, but are expected to represent a reduced share as the portfolio grows and develops. Net financial items Financial income decreased during the period to SEK 1.2 million (2.9) and financial expenses amounted to SEK 44.7 million (19.2), which meant that net financial expenses increased to SEK 43.5 million (16.3), mainly due to increased interest expenses due to the bond issued at the end of 2024, as well as the raising of new bank loans in connection with property acquisitions. Unrealised changes in value Logistris’ property portfolio is valued by an external independent valuer at the end of each quarter. Unrealized changes in value amounted to SEK 77.8 million (17.7). The positive change in value is explained by management and acquisition-related activities as well as changing market conditions. Tax Current tax expense amounted to SEK 9.0 million (7.5) and deferred tax expense amounted to SEK 22.3 million (6.5). The cost of deferred tax is mainly attributable to temporary differences between the carrying amount and the tax value of investment properties. Cash flow Cash flow from operating activities amounted to SEK 44.8 million (43.1). Acquisitions of investment properties impacted cash flow through investment activities of SEK -485.0 million (-115.6) and investments in existing properties of SEK 64.5 million (8.4), mainly attributable to the new construction project in Skyttbrink. During the period, cash and cash equivalents decreased by SEK 213.1 million (106.3) and cash and cash equivalents at the end of the period amounted to SEK 67.3 million (122.2). Profit, rental income and expenses January – September 2025 2020 50 25 12.5 0.0 2021 2022 2023 2025 MSEK 2024 37.5 Income 2020 38 19 9.5 0.0 2021 2022 2023 2025 MSEK 2024 28.5 NOI and surplus ratio 100 60 40 20 80 % 2020 24 12 6 0.0 2021 2022 2023 2025 MSEK 2024 18 Profit from property management Period January - September 2025 Comments by the CEO Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 6 | Logistri Fastighets AB (publ) Interim report January - September 2025 To facilitate the assessment of the company’s income and costs, the estimated earning capacity on an annual basis is presented below in the form of a snap- shot based on the assumptions that applied as of 1 October 2025 and the property portfolio owned by Logistri as of 1 October 2025. It is important to note that earnings capacity is not comparable to a forecast for the next twelve months, as it does not include, for example, any assessments regarding the development of rents, future vacancies, development projects or unforeseen costs. Revenue is based on contracted revenue on an annual basis with adjustment for changes in the Consumer Price Index. Property costs are based on a normal business year with normal maintenance. Property costs include property tax calculated on the basis of the current assessed values of the properties. Administration costs are calculated based on the current organization and the current size of the property portfolio. Net financial items have been based on the Group’s interest expenses in accordance with financing and interest hedging agreements entered into and the prevailing market interest rate as of each balance sheet date. Net financial items also include the recognition of set-up costs and site leasehold fees in accordance with IFRS16. One-off costs are excluded. Current earning capacity Amount in thousand SEK 1 Oct 2025 1 Jan 2025 Rental income 194,388 158,923 Operating expenses -15,185 -12,278 Net operating income 179,203 146,646 Administrative expenses -17,267 -14,299 Net financial items -63,948 -45,894 Profit from property management 97,988 86,453 Profit from property management per share 1.34 11.79 140 120 100 80 60 40 20 0 194.4 179.2 -17.3 -63.9 Operative items, sub-items 98.0 160 180 MSEK 200 -15.2 Profit from property management Rental income Operating expensesNet operating incomeAdministrative expenses Net financial items Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 7 | Logistri Fastighets AB (publ) Interim report January - September 2025 Logistris’ real estate portfolio focuses on properties with premises for light industry, warehousing and contracting operations. In total, 96.7% of the rental value is this type of premises. The elements of offices are very limited and are an integral part of production or warehouse premises. In 2025, Logistris’ property portfolio has continued to grow and now includes 37 properties with a leasable area of 240,117 m2. A total of nine new properties have been taken possession with a lettable area of 33,256 m2. An additional property, Falköping Spjutet 2, has been created through the division of Falköping Spjutet 1 to enable future development of previously unused land. The portfolio’s profitability continues to increase with positive growth in net operating income and high occupancy rates. Logistri has a strong operating surplus with a surplus of 92.6% after property costs. With 93.8% long-term leases with triple-net agreements where the tenants them- selves are responsible for the absolute majority of operating and maintenance costs, the company has a limited risk of increased costs in management. Logistri continues to have a high occupancy rate with 98.4% of total rental value at the end of the year. The occupancy rate is affected by a project vacancy in Botkyrka Lärlingen 2, where leasing work and project planning are ongoing. All other properties in the portfolio are fully let. A project property, Botkyrka Skyttbrink 29, is under construction and will comprise an additional 6,555 m2 and was already fully let with a 10-year lease before construction started. Occupancy will take place gradually during December 2025 and early 2026. The property portfolio Property portfolio 2025 Q3 2024 Leasable area, m2: 240,117 206,861 Rental value, TSEK 189,580 158,746 Number of properties 37 27 Market value, SEK million 2,733 2,092 Occupancy rate, rental value 98.4 % 98.4 % 100 % 90 % 80 % 70 % 60 % 50 % 100.0 95.2 98.4 16.5 % 13.9 % 13.4 %24.7 % 7.4 % 16.5 % 6.1 % 1.7 % Rental value AUTOMOTIVE INDUSTRY PLASTIC INDUSTRY CONSTRUCTION INDUSTRYMETALWORKING MARITIME INDUSTRY OTHER PRODUCTION WHOLESALE OPERATIONS OTHER WAREHOUSE/ OFFICE 3.3 % 33.1 % INFRASTRUCTURE 0.7 % INDUSTRY 63.0% Property portfolio per property type Occupancy rate, rental value REGIONAL CITY TOTALMETROPOLITAN CITY Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 8 | Logistri Fastighets AB (publ) Interim report January - September 2025 Market areas Logistris’ property portfolio comprises two strategic market areas, Regional City and Metropolitan City. Regionstad comprises 21 major properties in southern Sweden in regional towns with a strong industrial tradition. Storstad comprises 16 properties for light industry, contracting and warehousing in growth zones adjacent to the inner cities of Stockholm and Gothenburg. The Regionstad market area only includes properties with a long lease period and triple- net agreements with very low management costs. The occupancy rate in the market area Regionstad is 100% and the rent-weighted remaining lease period (WAULT) is 8.7 years. The Metropolitan market area has a larger proportion of properties with development potential in the zones outside the city centres where light industrial and contracting activities are established when previously urban business areas are developed primarily into new housing and public services. Logistri has consistently been successful in its development work and increased rental income by approximately 30% in new leasing and renegotiations. The economic occupancy rate in Storstad is 95.2% and the rent-weighted remaining lease period (WAULT) is 4.3 years. The occupancy rate is affected at the end of the period by temporary vacancies in a development property where leasing work and negotiations are ongoing for a total of 2,033 m2. Tenants At the end of the period, Logistri had 55 tenants, where no single tenant is larger than 8% of the total rental value. The 10 largest tenants represent 54.3% of Logistri’s total rental value. The lease agree- ments for the 10 largest tenants are 100% triple net agreements with a rent-weighted remaining lease period of 8.0 years. 86.3% of the rental value for the 10 largest tenants is in the Regionstad market area. The majority of Logistris’ tenants are larger, well-managed industrial companies with a long history in the properties. The tenants represent a number of industries and industry segments. This gives Logistri a well-diversified exposure to different industries and reduces financial risk. A central part of the company’s investment strategy to ensure a stable cash flow is through long-term leases where the tenants bear the majority of the properties’ operating and maintenance costs. Over 93% of the company’s total rental income relates to this type of lease, triple net agreements, where the company has no or very limited costs for the operation and maintenance of the properties. METROPOLITAN CITY 33.8 % REGIONAL CITY 66.2 % METROPOLITAN CITY 36.5 % REGIONAL CITY 63.5 % Rental value by market area Market value by market area Over 93 % of Logistris’ leases are triple net with no or very limited costs for operation and maintenance Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 9 | Logistri Fastighets AB (publ) Interim report January - September 2025 Completed property acquisitions during the first three quarters of the year Real estate transactions Karlstad Västra torp 1:93 Nyköping Fargo 6 Malmö Spindeln 1 Härryda Solsten 1:137 Göteborg Gamlestaden 74:2 Smedjebacken Bokbindaren 1 Södertälje Tuvägen 3 Lerum Berg 1:44 Falkenberg Elektrikern 2 Nyköping Smedjebacken Karlstad Malmö Härryda Göteborg Södertälje Lerum Falkenberg Fargo 6 Bokbindaren 1 Västra Torp 1:93 Spindeln 1 Solsten 1:137 Gamlestaden 74:2 Tuvängen 3 Berg 1:44 Elektrikern 2 Total Tenant 9 tenants Hitachi Energy Sweden AB Entrack AB AB Reservdelar GBGT Box AB Rentsafe Sverige AB Tailored Concept By Tc AB Mark Bric AB Pexymek AB Acquisition value, MSEK 54 105 17 80 80 32 50 33 39 490 Leasable area, m2 3,036 7,030 2,090 4,350 5,544 1,150 2,000 2,530 5,600 33,300 Year of construction 2023 2024 1984-2024 1962-2025 2011 1997-2019 2011-2017 1970-2021 1975-2012 Access 2025-03-14 2025-03-14 2025-03-14 2025-06-23 2025-04-16 2025-04-16 2025-06-27 2025-07-01 2025-09-29 Transaction type Off market Off market Off market Off market Off market Off market Off market Off market Broad process Location Regional City Regional City Regional City Metropolitan City Metropolitan City Metropolitan City Metropolitan City Regional City Regional City Segment Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Occupancy rate 100 % 100 % 100 % 100% 100% 100% 100% 100 % 100 % 100 % Industry Construction & Automotive Infrastructure Mechanical Engineering Automotive Other production Storage Other production Plastic industry Other production Rental period, years 5.0 9.8 9.5 10.0 4.1 3.2 4.6 11.8 10.0 7.6 Lease agreement Triple-net Triple-net Triple-net Triple-net Triple-net Triple-net Triple-net Triple-net Triple-net Environmentally certified V V V V Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 10 | Logistri Fastighets AB (publ) Interim report January - September 2025 Agreed acquisitions with closing after the end of the period Norrtälje Görla 9:25 Vänersborg Stallet 18 Gislaved Ölmestad 8:261 Tranås Traktorn 2 & 6 Ludvika Gonäs 1:178 & 1:181 Norrtälje Vänersborg Gislaved Tranås Ludvika Görla 9:25 Stallet 18 Ölmestad 8:261 Traktorn 2 & 6 Gonäs 1:178 & 1:181 Total Tenant Ahlberg Cameras AB Wiretronic AB Rullpack AB Strömsholmen AB Hitachi Energy Sweden AB Acquisition value, MSEK 45 130 69 94 1,254 1,592 Leasable area, m2 2,139 5,996 10,990 13,150 103,000 135,275 Year of construction 2026 2026 1998 1964-2024 2027 Access 2025-03-03 2025-03-03 2025-07-01 2025-10-23 2027 Agreed Q2 2026 Q2 2026 2025-09-30 2025-11-04 Q1 2026 Transaction type Off market Off market Off market Off market Off market Location Regional City Regional City Regional City Regional City Regional City Segment Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Light industrial/ Warehouse Occupancy rate 100% 100% 100 % 100 % 100 % 100 % Industry Other production Automotive Plastic industry Other production Automotive Rental period, years 8.0 15.0 8.6 20.0 15.0 14.8 Lease agreement Triple-net Triple-net Triple-net Triple-net Triple-net Environmentally certified V V V Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 11 | Logistri Fastighets AB (publ) Interim report January - September 2025 Botkyrka Skyttbrink 29 Logistris’ largest development project to date is proceeding according to plan and the construction work will mainly be completed in Q4 2025. On the property, Logistri is constructing a new building of 6,555 m2 for warehousing, logistics and light industry with a general floor plan and 12 meters of free interior ceiling height. Movator AB has been contracted as a new tenant for the entire building with a 10-year triple-net agreement. Occupancy will take place in two stages, at the end of 2025 and during Q1 2026. The building will be constructed as an environmental building with a photovoltaic system and a modern EV charging system for heavier vehicles. The previous building on the property was completely destroyed in a fire in the autumn of 2023 and was covered by 5,720 m2 of premises area, was fully insured and was covered by a three-year rental loss insurance. Tingsryd - Expansion and new detailed plan Together with our tenant Orthex, planning work has been carried out to expand the possible building and landscaping area. Orthex has stable and profitable growth, which has initiated the joint work to provide the business with rational conditions for continued development of the property. The purpose of the detailed plan is to improve the logistics conditions for industrial operations and enable the expansion of, among other things, the warehouse/production facility by removing parts of the dotted land that limits the expansion possibilities. As part of the plan, improved entrance and exit from the property is also possible. Work on planning together with the tenant for expansion is underway for a decision later in 2026. Falköping The properties Falköping Falevi 2:1 and Spjutet 1 are centrally located in Falköping with about 1 km to the city centre and adjacent to RV 46 and 47. The property has a large unused area of land that is possible to exploit with additional building volumes within the current zoning plan. A subdivision has been carried out and a new property, Falköping Spjutet 2, has thereby been formed. The new property includes previously unused land that can now be developed for new use. The potential new buildings are considered to mainly include premises for industry or logistics. Örebro - Planning programme for Holmen The Örebro Tackjärnet 3 property in Holmen’s industrial area is very centrally located in direct proximity to Örebro Central Station and with surrounding single-family houses. The property’s location in the area is of strategic importance as it is closest to existing urban development and adjacent properties will not be able to be exploited before the Logistris property is developed. The area is prioritised by Örebro Municipality for conversion to mainly housing and com- munity services in an urban environment, which allows for a relatively high development rate when the property is developed. The municipality’s work on the planning program is ongoing and a decision on starting the detailed plan work is expected in 2026. The new detailed plan is expected to be adopted within 5–7 years, when Logistri’s project planning has also been detailed and a building permit process can be initiated. The implementation of the plan represents an opportunity to convert existing industrial use from approximately 22,000 m2 to 78,000 m2 GFA housing. The existing building structure will be changed into six blocks with varying building heights that will be adapted to the surrounding buildings. Ongoing major development projects Illustration of new building Botkyrka Skyttbrink 29 Scratched surface shows possible area for expansion Scratched surface shows possible area for expansion Study of housing development projects Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 12 | Logistri Fastighets AB (publ) Interim report January - September 2025 Logistris’ business operations shall be conducted in a responsible manner and ESG issues are a central and important part of Logistris’ operations and are taken into account in the company’s profitability targets. Logistri shall live up to high expectations for sound and ethically sustainable business operations through governance, trans- parency and knowledge of laws, regulations and good industry standards. Logistri will work to ensure that the company’s environmental impact is as limited as practically possible. This also includes the company’s tenants and partners, to the extent that the company can influence them. The property owners’ sustainability work is largely about the energy use in the buildings and in the tenants’ operations, especially for those real estate companies that do not have extensive project development activities. Solar cells, LED lighting, operational control, heat pumps and EV systems for vehicles are examples of investments that Logistri discusses on an ongoing basis with affected tenants. Operational optimisation brings benefits for Logistri, its tenants, the environment and leads to long-term improved operating nets. In the long run, it reduces tenants’ costs, makes the properties more attractive to new tenants and reduces residual value risk. Over time, the majority of the company’s properties will be environmentally certified, and in the case of new construction, buildings will be environmentally certified with at least a level of BREEAM Very Good or equivalent. Sustainability work during the period Work on practical sustainability work has continued during the period with, among other things, possible investments in solar cell systems have been negotiated and are ongoing, charging stations for cars have been implemented. The work of environ- mentally certifying several buildings and agreeing on “green” leases is underway as part of the long-term sustainability planning. Overall, the company shall prioritise the management measures that have a positive effect on the environment and society, while at the same time the measures and investments shall be wise from an admini- strative financial perspective. During the period, the following measures have been implemented: • Another solar cell project has been decided with estimated commissioning in the spring of 2026 • Certification (BREEAM in Use, Very Good or Excellent) is ongoing for several of the company’s properties. In connection with certification, climate risk analyses are also carried out. • Development of the company’s ESG platform in accordance with the CSRD is ongoing. • During the year, the company has deployed a support system to be able to measure and analyze media consumption from both property-related and production-related consumption. This means better ESG reporting today and smarter collaboration with tenants tomorrow. • In 2026, it is planned to implement energy declarations for those properties that do not have current declarations. In connection with this, energy audits are carried out. • During the period, four environmentally certified properties were taken possession. For further information about the company’s sustainability work, please refer to the company’s annual report and upcoming reports. Sustainability work and ESG Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 13 | Logistri Fastighets AB (publ) Interim report January - September 2025 Logistri Fastighets AB (publ) is listed on the Spotlight Stock Market. At the end of the period, the company had 1,552 shareholders (1,388), of which the Board of Directors of Logistri represents approximately 34% of the capital and votes. New share classes and number of shares On 13 June 2025, the Extraordinary General Meeting resolved to amend the Articles of Association for the introduction of two classes of shares, Class A shares and Class B shares, as well as a new number of shares through a share split. The purpose of the introduction of an additional share class is to give Logistri additional flexibility in raising equity and to increase the liquidity of a share series. In connection with the introduction of the share classes, each existing share in the Company will be divided into one (1) Class A share and nine (9) Class B shares. The last day of trading in Logistris’ existing share was 1 July 2025 and the first day of trading in Class A shares and Class B shares was 2 July 2025. As of 2 July 2025, the registered share capital amounts to SEK 7,335,000 divided into 73,350,000 shares. Dividend 2025 The Annual General Meeting on 24 April 2025 resolved to pay a dividend of SEK 5.20 per share to the shareholders, entailing a dividend of SEK 38,142,000 in total, and that the dividend shall be paid on four different occasions before the next Annual General Meeting. The dividend will not be affected by the introduction of two share classes, the increased number of shares in Logistri means that the remaining dividend will be distributed by one tenth (1/10) each per share by paying SEK 0.13 per share starting in connection with the dividend payment, which has a record date of September 30, 2025. Options Program The Annual General Meeting on April 24, 2025 resolved to establish a warrant-based incentive program through the issuance of warrants of series 2025/2029 to the company, or a subsidiary designated by the company, and approves the transfer of warrants to certain employees within the Group. The option program has not led to any dilution at the end of the period. Authorization The Annual General Meeting on 24 April 2025 resolved to authorize the Board of Directors, with or without deviation from the shareholders’ preferential rights, on one or more occasions until the next Annual General Meeting, to resolve to increase the company’s share capital through a new issue of not more than 3,667,500 new shares in the company. Due to a new number of shares due to a share split, the authorization amounts to 36,675,000 shares. Largest shareholders as of September 30, 2025 Jan-Sep Jul-Sep Oct-Sep Jan-Dec Key figures 1 2025 2024 2025 2024 2024-2025 2024 Number of shares outstanding at the end of the period 73,350,000 7,335,000 73,350,000 7,335,000 73,350,000 7,335,000 Average number of shares 73,350,000 7,335,000 73,350,000 7,335,000 73,350,000 7,335,000 Profit from property management per share, SEK 0.90 0.92 0.31 0.30 1.13 1.16 Earnings per share for the period, SEK 1.43 0.97 0.48 0.24 1.34 0.88 Equity per share, SEK 15.32 14.49 15.32 14.49 15.32 14.40 NRV per share, SEK 17.26 16.14 17.26 16.14 17.26 16.03 The Share 1 Key figures for 2024 are adjusted for share splits Name Share of capital Share of capital Number of Class A shares Number of Class B shares Total number of shares Henrik Viktorsson med bolag 24.25 % 24.25 % 1,778,893 16,010,037 17,788 930 Nordnet Pensions- försäkring 11.32 % 11.21 % 812,466 7,492,983 8,305,449 Mattias Ståhlgren 6.97 % 6.96 % 510,000 4,600,000 5,110,000 Avanza Pension 5.67 % 5.60 % 405,495 3,754,207 4,159,702 Patrik von Hacht 3.89 % 3.89 % 285,000 2,565,000 2,850,000 GADD & Cie S.A. 3.05 % 3.05 % 223,500 2,011,500 2,235,000 Anders Carlsson 2.53 % 2.53 % 185,346 1,668,114 1,853,460 Swedbank Försäkring 2.43 % 2.39 % 171,811 1,614,018 1,785,829 Göran Källebo 2.27 % 2.27 % 166,175 1,495,575 1,661,750 Ulf Jönsson 2.04 % 2.04 % 150,000 1,350,000 1,500,000 Total of ten biggest share owners 64.42 % 64.18 % 4,688,686 42,561,434 47,250,120 Other share owners 35.58 % 35.82 % 2,646,314 23,453,566 26,099,880 Total 100.00 % 100.00 % 7,335,000 66,015,000 73,350,000 Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 14 | Logistri Fastighets AB (publ) Interim report January - September 2025 2020 2020 2021 2022 2023 2024 2020 Equity Equity in the Group amounted to SEK 1,124 million (1,063) and has increased net by SEK 68 million during the period through a positive total profit of SEK 105 million, a resolved dividend of SEK -38 million and SEK 0.8 million attributable to the warrant program. Interest-bearing liabilities Logistris’ interest-bearing liabilities amounted to SEK 1,512 million (769) in nominal terms and consists of secured external debt financing and bank loans of SEK 1,218 million (769), corresponding to 80.6% (100) of the total interest-bearing debt. Logistris’ creditors consisted of M&G Investment Management Limited, Swedbank, Nordea, Danske Bank and Sörmlands Sparbank. Interest-bearing bond loans at the end of the period amounted to a nominal value of SEK 293 million (0), corresponding to 19.4% (0) of the total interest- bearing debt, and consists of a senior unsecured green bond within a framework of SEK 600 million. Financial Jan-Sep Jul-Sep Oct-Sep Jan-Dec 2025 2024 2025 2024 2024-2025 2024 Equity ratio, % 38.9 53.0 38.9 53.0 38.9 42.9 LTV, % 55.7 44.4 55.7 44.4 55.7 59.2 Return on equity, % 12.9 9.1 12.7 6.7 9.0 6.2 Loan maturity, years 1.6 1.8 1.6 1.8 1.6 2.1 Fixed interest period, years 1.4 1.8 1.4 1.8 1.4 1.4 Average interest rate, % 3.90 2.95 3.90 2.95 3.90 3.96 Interest coverage ratio, multiple 2.5 4.9 2.4 4.9 2.6 4.4 Net debt, tkr 1,421,355 626,016 1,421,355 626,016 1,421,355 930,906 Net LTV, % 52.0 38.9 52.0 38.9 38.9 44.5 Net debt/EBITDA, multiple 9.7 5.6 9.1 5.6 10.5 8.5 Property yield and interest rate 2021 2022 2023 2025 Property yield Interest rate % Net LTV and interest coverage ratio 5.0 3.8 2.5 1.3 0.0 2021 2022 2023 2025 60 45 30 15 0 Net LTV Interest coverage ratio multiple % 8.0 6.0 4.0 2.0 0.0 Net DEBT/EBITDA 10.0 7.5 5.0 2.5 0.0 2025 multiple Financing 2024 2024 Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 15 | Logistri Fastighets AB (publ) Interim report January - September 2025 Loan and interest maturity For Logistri, the tied-up capital period for interest-bearing liabilities was 1.6 years (1.8), with no maturities in 2025 apart from ongoing contractual amortizations. The average interest rate at the end of the period was 3.90% (2.95) and the average fixed interest period was 1.4 years (1.8). At the end of the period, Logistri had entered into interest rate hedges of a nominal amount of SEK 1,565 million (0) and related to interest rate swaps and interest rate corridors with an average remaining maturity of 4.2 years. Available liquidity Cash and cash equivalents amounted to SEK 67 million (122). Logistri has a revolving credit facility of SEK 39 million (0), which has been fully utilised at the end of the period. The company’s available liquidity thus amounted to SEK 67 million (122) at the end of the period. Refinancing 2025 On 29 September, Logistri entered into a loan agreement with a total loan volume of SEK 959 million with a Swedish bank to be disbursed on 17 October. The loan was used, among other things, to repay loans with M&G maturing on 20/07/2026. The new loan expands the Group’s loans and provides SEK 185 million in liquidity that can be used for value-creating investments in real estate. The loan has a capital tied-up of 3.5 years and increases the Group’s tied-up capital to an average of 3.0 years. Within the framework of Logistris’ long-term financing strategy, 94 per cent of the loan amount has been hedged through derivatives. The loan extends Logistris’ fixed interest rate to an Loan maturity Fixed interest Year of expiry Bank loans, MSEK Bonds, MSEK Total interest bearing debt, MSK Share, % Fixed interest, MSEK Average interest rate, % 2025 - - - - 86 3.69 2026 774 - 774 51 774 2.95 2027 142 300 442 29 442 5.65 2028 287 - 287 19 - - >2029 19 - 19 1 220 3.85 Total 1,222 300 1,522 100 1,522 3.90 Debt portfolio Amount, MSEK Average margin, % Average total interest rate, % Average amortization, % Average maturity, year External debt financing 774 2.50 2.95 - 0.80 Bank debt 448 1.59 3.90 1.76 2.49 Bond loan 300 3.90 6.37 - 2.15 Total 1,522 2.51 3.90 0.52 1.56 Net LTV 45 30 0 60 Interest coverage ratio 3.8 2.5 1.3 0.0 5.0 20212020 2022 2023 2024 2025 20212020 2022 2023 2024 2025 % multiple 15 average maturity of 2.8 years. The average interest rate after refinancing for the Group is 4.3 per cent and the average maturity of Logistris’ derivative instruments is 4.2 years. Financial policy Logistris’ financial policy aims to ensure proactive and continuous work to ensure that the company has access to long-term equity and borrowed capital at the lowest cost based on desired risk levels, underlying assets and market conditions. It also aims to minimise risks associated with financing, which is why the following guidelines have been developed • The net loan-to-value ratio shall over time amount to a maximum of 58% • Average weighted tied-up capital shall amount to at least 2 years in the long term • Bonds shall amount to a maximum of 20% of the total loan volume • Interest rate hedging should amount to 50-100% in 1-3 years’ time and 30-70% in 4-5 years’ time • The interest coverage ratio shall exceed 2.0 times in the long term Deviations from the guidelines can be made for periods in order to take advantage of attractive business opportunities, with the long-term aim of re-fulfilling them. 1 The difference in total interest-bearing liabilities between the tables above and the Group’s balance sheet is explained by accrued set-up fees Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 16 | Logistri Fastighets AB (publ) Interim report January - September 2025 Jan-Sep Jul-Sep Oct-Sep Jan-Dec Amount in thousand SEK 2025 2024 2025 2024 2024-2025 2024 Rental income 132,257 98,758 46,789 33,216 168,554 135,057 Operating and maintenance costs -7,265 -4,134 -2,637 -1,588 -11,643 -8,512 Property tax -2,498 -2,042 -857 -692 -3,292 -2,836 Net operating income 122,494 92,582 43,295 30,936 153,619 123,709 Administrative expenses -13,087 -8,738 -4,309 -3,041 -18,135 -13,787 Financial income 1,180 2,928 88 481 2,700 4,449 Financial expenses -44,687 -19,238 -16,128 -6,318 -54,752 -29,304 Interest on lease debt -195 -195 -65 -65 -259 -259 Profit from property management 65,705 67,339 22,881 21,993 83,173 84,808 Non-recurring items - - - - -47,800 -47,800 Finanical instruments, unrealised change in value 77,758 17,657 23,738 -989 103,539 43,438 Properties, unrealised change in value -7,224 - -2,828 - -7,278 -54 Profit before tax 136,239 84,996 43,791 21,004 131,634 80,392 Tax -8,979 -7,500 -3,000 -2,500 -12,447 -10,968 Deferred tax -22,271 -6,526 -5,594 -948 -20,779 -5,034 Profit for the period 104,989 70,970 35,197 17,556 98,408 64,390 Earnings after tax per share, SEK 1 1.43 0.97 0.48 0.24 1.34 0.88 Outstanding number of shares, thousands 1 1.43 0.97 0.48 0.24 1.34 0.88 Genomsnittligt antal aktier, tusental 73,350 7,335 73,350 7,335 73,350 7,335 Comprehensive income statement Group 1 Key figures for 2024 are adjusted for share splits Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 17 | Logistri Fastighets AB (publ) Interim report January - September 2025 Amount in thousand SEK 30 Sep 2025 31 Dec 2024 30 Sep 2024 Assets Non-current assets Investment properties 2,732,515 2,092,689 1,744,481 Right-of-use assets 4,919 4,919 4,919 Machinery and equipment 168 62 45 Total non-current assets 2,737,602 2,097,670 1,749,445 Current assets Rental receivables 815 267 - Other current receivables 56,759 68,929 117,440 Prepaid expenses and accrued income 23,564 16,424 15,233 Cash and cash equivalents 67,336 280,471 122,230 Total current assets 148,474 366,091 254,903 Total assets 2,886,076 2,463,761 2,004,348 Amount in thousand SEK 30 sep 2025 31 dec 2024 30 sep 2024 Shareholders’ equity and liabilities Share capital 7,335 7,335 7,335 Other contributed capital 655,002 654,246 654,246 Profit brought forward, incl. earnings after tax 461,203 394,356 400,936 Total shareholders’ equity 1,123,540 1,055,937 1,062,517 Non-current liabilities Borrowings 393,423 909,838 770,322 Bond 293,100 291,445 - Non-current leasehold liabilities 4,919 4,919 4,919 Financial derivatives 7,278 54 - Deferred tax liabilities 142,674 119,640 121,363 Total non-current liabilities 841,394 1,325,896 896,604 Current liabilities Accounts payable 825,012 25,574 - Overdraft facility 39,400 - - Current portion of borrowings 3,470 15,961 7,316 Current tax liabilities - 6,334 630 Other current liabilities 22,879 11,747 24,570 Accrued expenses and deferred income 30,381 22,312 12,711 Total current liabilities 921,142 81,928 45,227 Total liabilities 1,762,536 1,407,824 941,831 Total shareholders’ equity and liabilities 2,886,076 2,463,761 2,004,348 Group Statement of financial position Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 18 | Logistri Fastighets AB (publ) Interim report January - September 2025 Amount in thousand SEK 30 Sep 2025 31 Dec 2024 Opening equity 1,055,937 1,029,689 Comprehensive income for the period 104,989 64,390 Warrant program 756 - Dividends -38,142 -38,142 Closing equity 1,123,540 1,055,937 Jan-Sep Jul-Sep Oct-Sep Jan-Dec Amount in thousand SEK 2025 2024 2025 2024 2024-2025 2024 Operating activities Profit from property management 65,705 67,339 22,881 21,993 83,173 84,808 Non-cash items 4,548 1,648 1,558 563 5,304 2,405 Tax paid -14,080 -15,602 -2,760 -3,897 -11,298 -12,820 Cash flow from operating activities before changes in working capital 56,173 53,385 21,679 18,659 77,179 74,393 Cash flow from changes in working capital Change in rental receivables 4,238 543 4,039 192 5,382 1,687 Change in other current receivables 18,397 -11,465 17,117 1,116 15,122 -14,742 Change in account payables -20,780 5,165 -16,632 2,729 -12,659 13,286 Change in other current liabilities -13,210 -4,465 -24,715 1,987 -11,482 -2,737 Cash flow from operating activities 44,818 43,163 1,488 24,683 73,542 71,887 Investing activities Property acquisitions -485,043 -115,633 -65,794 -7,600 -772,673 -403,264 Inventory acquisitions -64,484 -8,400 -25,376 -4,891 -73,568 -17,484 Investments in current buildings -130 -21 -22 -15 -150 -41 Cash flow from investing activities -549,657 -124,054 -91,192 -12,506 -846,391 -420,789 Financing activities Warrants 756 - - - 756 - Dividends -28,607 -25,184 -9,536 -9,536 -38,144 -34,719 Proceeds from borrowings 308,386 -251 40,048 - 753,612 445,225 Overdraft facility 39,400 - - - 39,400 - Repayment of debt -25,223 - -1,911 - -25,423 -200 Loan arrangement fees -3,008 - -737 - -12,246 -9,489 Cash flow from financing activities 291,704 -25,435 27,864 -9,536 717,955 400,817 Cash for the period -213,135 -106,326 -61,840 2,641 -54,894 51,915 Cash and cash equivalents at the start of the financial year 280,471 228,556 129,176 119,589 122,230 228,556 Cash and cash equivalents at the end of the financial year 67,336 122,230 67,336 122,230 67,336 280,471 Group Statement of changes in equity Group Cash-flow statement Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 19 | Logistri Fastighets AB (publ) Interim report January - September 2025 Parent Company Income state Parent Company Balance sheet Jan-Sep Jul-Sep Amount in thousand SEK 2025 2024 2025 2024 Operating income 3,491 4,226 1,146 1,450 Operating expenses -12,649 -8,056 -4,217 -2,617 Operating loss -9,158 -3,831 -3,071 -1,166 Interest income and similar income statement 8,736 7,558 2,732 2,016 Interest expenses and similar income statement items -17,606 - -6,244 - Profit/loss after financial items -18,027 3,727 -6,584 850 Earnings before tax -18,027 3,727 -6,584 850 Tax - - - - Earnings after tax -18,027 3,727 -6,584 850 Amount in thousand SEK 30 Sep 2025 31 Dec 2024 Assets Shares in subsidiaries 138,601 97,567 Equipment 65 43 Non-current receivables from Group companies 487,205 365,406 Total non-current assets 625,871 463,016 Current receivables from Group companies 203,008 176,004 Other current receivables 2,405 705 Prepaid expenses and accrued income 2,580 15,831 Cash and cash equivalents 5,484 217,177 Total current assets 213,479 409,717 Total assets 839,349 872,733 Shareholders’ equity and liabilities Share capital 7,335 7,335 Unrestricted capital 450,632 506,046 Total shareholders’ equity 457,967 513,381 Bond 293,100 291,445 Total non-current liabilities 293,100 291,445 Accounts payable 506 2,850 Current liabilities to Group companies 22,381 50,615 Overdraft facility 39,400 - Other current liabilities 19,325 9,702 Accrued expenses and deferred income 6,670 4,740 Total current liabilities 88,282 67,907 Total liabilities 381,382 359,353 Total shareholders’ equity and liabilities 839,349 872,733 Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 20 | Logistri Fastighets AB (publ) Interim report January - September 2025 Group Key figures Jan-Sep Jul-Sep Oct-Sep Jan-Dec TSEK, unless otherwise stated 2025 2024 2025 2024 2024-2025 2024 Property related Number of properties 37 21 37 21 37 27 Leasable area, m2 240,117 187,142 240,117 187,142 240,117 206,861 Fair value of properties 2,732,515 1,744,481 2,732,515 1,744,481 2,732,515 2,092,689 Fair value of properties, SEK/m2 11,380 9,322 11,380 9,322 11,380 10,151 Rental value 189,580 134,204 189,580 134,204 189,580 158,746 Rental value, SEK/m2 790 717 790 717 790 770 Remaining lease period, year 7.04 6.60 7.04 6.60 7.04 7.22 Economic occupancy rate, % 98.6 97.6 98.6 97.6 98.6 98.4 Occupancy rate, % 99.2 98.7 99.2 98.7 99.2 99.1 Property yield, % 6.4 7.2 6.3 7.1 6.3 7.2 Surplus ratio, % 92.6 93.8 92.5 93.1 91.1 91.6 Share related Number of shares outstanding 73,350,000 7,335,000 73,350,000 7,335,000 73,350,000 7,335,000 Average number of shares 73,350,000 7,335,000 73,350,000 7,335,000 73,350,000 7,335,000 Profit from property management per share, SEK 0.90 0.92 0.31 0.30 1.13 1.16 Earnings per share, SEK 1.43 0.97 0.48 0.24 1.34 0.88 Equity per share, SEK 15.32 14.49 15.32 14.49 15.32 14.40 NRV per share, SEK 17.26 16.14 17.26 16.14 17.26 16.03 Financing Equity ratio, % 38.9 53.0 38.9 53.0 38.9 42.9 Loan-to-value (LTV) ratio, % 55.7 44.4 55.7 44.4 55.7 59.2 Return on equity, % 12.9 9.1 12.7 6.7 9.0 6.2 Average loan maturity, years 1.6 1.8 1.6 1.8 1.6 2.1 Average interest rate hedging, period, years 1.4 1.8 1.4 1.8 1.4 1.4 Average interest rate, % 3.90 2.95 3.90 2.95 3.90 3.96 Interest coverage ratio, multiple 2.5 4.9 2.4 4.9 2.6 4.4 Net debt 1,421,355 626,016 1,421,355 626,016 1,421,355 930,906 Net loan-to-value ratio, % 52.0 35.9 52.0 35.9 52.0 44.5 Net debt/EBITDA, times 9.7 5.6 9.1 5.6 10.5 8.5 Key figures for 2024 are adjusted for share splits Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 21 | Logistri Fastighets AB (publ) Interim report January - September 2025 Logistri Fastighets AB (publ), with company registration number 559122-8654, is a public limited liability company registered in Sweden with its registered office in Stockholm. The address of the head office is Berzelii Park 9, Box 7415, 103 91 Stockholm. The Company’s and its subsidiaries’ (the “Group”) operations include owning, developing and managing properties for warehouse and light industry in Sweden and the Nordic region. Employees The Group has had five employees during the period: the company’s CEO, CFO, property manager, technical manager and a business developer. Corporate administration was carried out through a management agreement by Pareto Business Management AB. Related party transactions Transactions between the company and its subsidiaries, which are related to the company, have taken place regarding interest expenses and interest income on internal loans and the charging of business and property management fees and audits. All internal dealings have been eliminated in the consolidation. Pareto Business Management AB has no ownership or controlling influence but is a related party to Logistri Fastighets AB according to IAS 24, by providing services under Business Management Agreements. Material risks and uncertainties Risk for the Group involves the risk of vacancies as a result of tenants’ insolvency or termination of existing leases. The Group runs a limited risk associated with operation and maintenance costs as approximately 93% of the properties are leased with triple net agreements where responsibility for ongoing operation and maintenance as well as property tax lies with the tenant and only planned maintenance (load-bearing structures, roofs, facades, installations) is the property owner’s responsibility. In nine of the Group’s properties, tenants are also responsible for planned maintenance. Accounting principles Logistri Fastighets AB (publ) applies IFRS Accounting Standards as adopted by the EU. This report has been prepared in accordance with IAS 34 Interim Financial Reporting. The Parent Company’s accounts have been prepared in accordance with RFR 2, Accounting for Legal Entities and the Annual Accounts Act. The same accounting and valuation principles have been applied as in the most recent Annual Report, see Logistri Fastighets AB’s Annual Report 2024, page 46. The company publishes five reports annually: the half-year report, the year-end report, the annual report and two interim reports. Audit This report has not been reviewed by the company’s auditor. Significant events during the previous quarter of the period On 13 January 2025, Sofia Aasvold took up the position of Property Manager. On 3 March, the company entered into an agreement to acquire five light industrial properties at a value of SEK 350 million with a total leasable area of 20,291 m2 and annual rental income of SEK 27.7 million. On 14 March, possession was taken of three of the properties with a total value of SEK 176 million. The properties are located in Smedjebacken, Nyköping, Karlstad, Norrtälje and Vänersborg. In April, two fully leased properties in Gothenburg were acquired and taken possession of for SEK 113 million. The total leasable area is 6,700 m2 and the annual rental value amounts to SEK 7.1 million. The average contract length is approximately 4 years. In June, possession was taken of two properties, Södertälje Tuvängen 3 and Malmö Spindeln 19 respectively, with a total property value of SEK 130 million. The two prop- erties comprise a total leasable area of approximately 6,350 m2. Annual rental income amounts to SEK 8.9 million with a remaining average contract length of approximately 8 years. In June, an Extraordinary General Meeting resolved to introduce two new share classes, Class A shares and Class B shares, where the existing shares will be converted into one Class A share and nine Class B shares. The first day of trading in the Class A and Class B shares was July 2 and does not affect the second quarter. Upcoming dividends Other information Declared dividend Amount in SEK/ share Last trading day with dividend Ex-dividend date Record date Settlement date Ordinary dividend 0.13 December 23, 2025 December 29, 2025 December 30, 2025 January 7, 2026 Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 22 | Logistri Fastighets AB (publ) Interim report January - September 2025 Return on equity Profit for the period, translated into 12 months, divided by average equity during the period. Loan-to-value ratio Interest-bearing liabilities divided by the carrying amount of investment properties Property property yield Net operating income for the period restated to 12 months, adjusted for the properties’ holding period during the period in relation to the market value of the properties at the end of the period. Profit from property management per share Profit from property management divided by weighted average number of shares during the period. Rental value Contracted annual rent that runs immediately after the end of the period with a supplement for the assessed market rent for any vacant premises. Net LTV Net debt divided by the market value of the properties. Net debt Interest-bearing liabilities decreased by reported cash and cash equivalents accounted for in current receivables. Debt-to-income ratio Net debt divided by net operating income less administrative expenses (“EBITDA”), restated to 12 months. Net reinstatement value (NRV) Reported equity attributable to parent company shareholders with reversal of provisions for interest rate derivatives and deferred tax. Earnings per share Profit for the period divided by average number of shares. Interest coverage ratio Profit from property management plus net financial items divided by net financial items. Equity ratio Equity divided by the balance sheet total. WAULT Weighted average unexpired lease term. Surplus ratio Net operating income divided by total revenue. Definitions Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 23 | Logistri Fastighets AB (publ) Interim report January - September 2025 The Board of Directors and the President and CEO assure that the report provides a fair overview of the company and the Group’s operations, position and results and describes the material risks and uncertainties faced by the company and the companies in the Group. This interim report for Logistri Fastighets AB (publ) was approved by the Board of Directors on November 12, 2025. Stockholm, November 12 2025 Logistri Fastighets AB Org.nr: 559122-8654 Henrik Viktorsson Patrik von Hacht Helena Elonsson Chairman of the Board Board Member Board Member Mattias Ståhlgren Robin Englén David Träff Board Member Board Member CEO Information about MAR The information in this interim report is information that Logistri Fastighets AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person, on November 12, 2025. Upcoming reporting opportunities February 11 2026 Year-end report April 22 206 Annual general meeting Certification of the Board of Directors Period January - September 2025 Comments by the CEO This is Logistri Profit, revenue and expenses January - September 2025 Current earning capacity The property portfolio Real estate transactions Ongoing development projects Sustainability and ESG The Share Financing GROUP Statement of comprehensive income Statement of financial position Statement of changes in equity Cash flow statement PARENT COMPANY Income statement Balance sheet Key figueres Other information Definitions Certification of the Board of Directors
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| 24 | Logistri Fastighets AB (publ) Interim report January - September 2025 For further information David Träff, VD Mail | david.traff@logistri.se Phone | + 46 70 089 04 66 Logistri Fastighets AB (publ) c/o Pareto Business Management AB Box 7415 103 91 Stockholm, Sweden Corporate identification number | 559122-8654 Website | www.logistri.se