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Investing.com - Swedish Logistic Property (STO:SLP B) on Thursday reported a 44% increase in rental income to SEK 744 million for the January-September 2025 period, as the logistics property company continues to expand its portfolio through strategic acquisitions.
Profit from property management jumped 50% to SEK 430 million compared to SEK 286 million in the same period last year, while earnings per share rose 12% to SEK 1.94. The company maintained a strong letting ratio of 96.5%, up from 95.9% a year earlier, with an average remaining lease term of 6.7 years.
The third quarter was relatively quiet for acquisitions, though year-to-date the company has acquired eleven properties with a total value of SEK 2,353 million. An additional logistics property in Gothenburg valued at SEK 625 million is scheduled for transfer in the fourth quarter.
"With a substantial logistics portfolio in attractive locations, a fantastic team, a strong financial position and long-term customer relationships, SLP is well positioned for the future," said Filip Persson, who assumed the CEO position on September 1.
The company reported net leasing income of SEK 6.2 million for the period, down from SEK 23.5 million a year earlier. Net asset value per share increased 9% to SEK 31.98, while profit from property management per share rose 33% to SEK 1.66.
SLP also highlighted its sustainability progress, with sustainable financing reaching SEK 7,873 million, representing 97% of its loan portfolio compared to 75% in the previous year. The company recently adopted a revised sustainability policy with new targets.
In January, SLP’s largest construction project to date commenced occupancy in Hallsberg, spanning 61,500 square meters. The company has also signed a 10-year lease agreement for a new 27,000 square meter development in Malmö, expected to be completed by late 2026.
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