Swedish Logistic Property: A Strong Start to 2025
May 3, 2025, 2:36 am
Swedish Logistic Property (SLP) has kicked off 2025 with a bang. The first quarter has seen record acquisition volumes, signaling a robust strategy in the logistics real estate sector. This is not just a flash in the pan; it’s a well-orchestrated move towards sustainable growth.
In the first quarter of 2025, SLP signed agreements for four strategic acquisitions. These deals encompass ten properties, with a total value of approximately SEK 2.2 billion. This is a significant leap forward, showcasing SLP's commitment to expanding its footprint in key logistics hubs across Sweden.
The numbers tell a compelling story. Rental income surged by 42%, reaching SEK 236 million, up from SEK 166 million the previous year. Net operating income followed suit, climbing 48% to SEK 203 million. This growth is not just a product of new acquisitions; 5% of it stems from the existing portfolio. Profit from property management saw a remarkable increase of 51%, totaling SEK 134 million. Earnings per share also rose by 21%, now standing at SEK 0.85.
The net asset value (NAV) per share increased by 4%, reaching SEK 30.44. This is a clear indicator of the company’s strengthening position in the market. The value changes in investment properties amounted to SEK 137 million, a significant rise from SEK 73 million. This reflects the underlying strength of SLP’s property portfolio.
Sustainability is at the heart of SLP’s strategy. By the end of the quarter, sustainable financing reached SEK 7.1 billion, which is a staggering 93% of the loan portfolio. This commitment to sustainability is not just a trend; it’s a fundamental part of SLP’s identity. The company has adopted a revised sustainability policy and set new targets, reinforcing its dedication to responsible growth.
Occupancy rates are another bright spot. The letting ratio climbed to 97%, up from 94.6%. This is a testament to SLP’s ability to attract and retain tenants. The company’s largest new construction project, spanning 61,500 square meters in Hallsberg, commenced occupancy in January. This project exemplifies SLP’s focus on developing properties that meet the evolving needs of the logistics sector.
SLP’s acquisition strategy remains aggressive. The company has recently acquired a logistics property in Trelleborg valued at SEK 90 million, with ownership transfer scheduled for early May. Additionally, two newly built logistics properties in Jönköping, valued at SEK 266 million, are set to transfer ownership in June. These acquisitions not only expand SLP’s portfolio but also enhance its potential for long-term value creation.
Leadership changes are also on the horizon. Filip Persson has been appointed as the new CEO, effective September 1, 2025. This transition signals a fresh perspective at the helm, while the current CEO, Tommy Åstrand, is proposed for a position on the Board of Directors. This leadership shift could bring new strategies and insights, further driving SLP’s growth.
The company’s proactive approach to acquisitions and management is commendable. Long lease agreements with strong tenants provide stable cash flows, enhancing the average lease duration. This stability is crucial in the ever-evolving logistics landscape. SLP is not just acquiring properties; it’s building a resilient portfolio that can weather market fluctuations.
SLP’s focus on logistics properties is strategic. The logistics sector is booming, driven by e-commerce and global supply chain demands. By positioning itself in key logistics hubs, SLP is tapping into a growing market. The conditions for acquiring properties with development potential remain favorable, and SLP is well-equipped to seize these opportunities.
Investors should take note. The company’s impressive financial performance, coupled with its commitment to sustainability, makes it an attractive option. The increase in shares and votes, due to a directed share issue, reflects confidence in SLP’s future. As of April 30, 2025, the total number of shares stands at 260,204,506, divided into series A and B shares. This increase is a direct result of strategic decisions made by the board, further solidifying SLP’s position in the market.
In conclusion, SLP is off to a strong start in 2025. The record acquisition volume, impressive financial metrics, and commitment to sustainability paint a picture of a company poised for growth. With a proactive acquisition strategy and a focus on logistics properties, SLP is not just keeping pace; it’s setting the pace in the logistics real estate sector. As the company continues to expand and adapt, it remains a key player to watch in the coming years. The road ahead looks promising, and SLP is ready to navigate it with confidence.
In the first quarter of 2025, SLP signed agreements for four strategic acquisitions. These deals encompass ten properties, with a total value of approximately SEK 2.2 billion. This is a significant leap forward, showcasing SLP's commitment to expanding its footprint in key logistics hubs across Sweden.
The numbers tell a compelling story. Rental income surged by 42%, reaching SEK 236 million, up from SEK 166 million the previous year. Net operating income followed suit, climbing 48% to SEK 203 million. This growth is not just a product of new acquisitions; 5% of it stems from the existing portfolio. Profit from property management saw a remarkable increase of 51%, totaling SEK 134 million. Earnings per share also rose by 21%, now standing at SEK 0.85.
The net asset value (NAV) per share increased by 4%, reaching SEK 30.44. This is a clear indicator of the company’s strengthening position in the market. The value changes in investment properties amounted to SEK 137 million, a significant rise from SEK 73 million. This reflects the underlying strength of SLP’s property portfolio.
Sustainability is at the heart of SLP’s strategy. By the end of the quarter, sustainable financing reached SEK 7.1 billion, which is a staggering 93% of the loan portfolio. This commitment to sustainability is not just a trend; it’s a fundamental part of SLP’s identity. The company has adopted a revised sustainability policy and set new targets, reinforcing its dedication to responsible growth.
Occupancy rates are another bright spot. The letting ratio climbed to 97%, up from 94.6%. This is a testament to SLP’s ability to attract and retain tenants. The company’s largest new construction project, spanning 61,500 square meters in Hallsberg, commenced occupancy in January. This project exemplifies SLP’s focus on developing properties that meet the evolving needs of the logistics sector.
SLP’s acquisition strategy remains aggressive. The company has recently acquired a logistics property in Trelleborg valued at SEK 90 million, with ownership transfer scheduled for early May. Additionally, two newly built logistics properties in Jönköping, valued at SEK 266 million, are set to transfer ownership in June. These acquisitions not only expand SLP’s portfolio but also enhance its potential for long-term value creation.
Leadership changes are also on the horizon. Filip Persson has been appointed as the new CEO, effective September 1, 2025. This transition signals a fresh perspective at the helm, while the current CEO, Tommy Åstrand, is proposed for a position on the Board of Directors. This leadership shift could bring new strategies and insights, further driving SLP’s growth.
The company’s proactive approach to acquisitions and management is commendable. Long lease agreements with strong tenants provide stable cash flows, enhancing the average lease duration. This stability is crucial in the ever-evolving logistics landscape. SLP is not just acquiring properties; it’s building a resilient portfolio that can weather market fluctuations.
SLP’s focus on logistics properties is strategic. The logistics sector is booming, driven by e-commerce and global supply chain demands. By positioning itself in key logistics hubs, SLP is tapping into a growing market. The conditions for acquiring properties with development potential remain favorable, and SLP is well-equipped to seize these opportunities.
Investors should take note. The company’s impressive financial performance, coupled with its commitment to sustainability, makes it an attractive option. The increase in shares and votes, due to a directed share issue, reflects confidence in SLP’s future. As of April 30, 2025, the total number of shares stands at 260,204,506, divided into series A and B shares. This increase is a direct result of strategic decisions made by the board, further solidifying SLP’s position in the market.
In conclusion, SLP is off to a strong start in 2025. The record acquisition volume, impressive financial metrics, and commitment to sustainability paint a picture of a company poised for growth. With a proactive acquisition strategy and a focus on logistics properties, SLP is not just keeping pace; it’s setting the pace in the logistics real estate sector. As the company continues to expand and adapt, it remains a key player to watch in the coming years. The road ahead looks promising, and SLP is ready to navigate it with confidence.