(Oslo, 18 October 2012)
Today Northern Logistic Property reports their third quarter and first nine months results for 2012.
Highlights for the period
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Significantly improved net operating income in third quarter amounted to SEK 108.1m (104.4) and in the first nine months to SEK 328.4m (310.8)
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Significantly improved EBVAT as in third quarter amounted to SEK 59.5m (43.3) and the first nine months to SEK 172.4m (121.2)
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Reduced administrative costs during the quarter of SEK 6.9m (9.1) and in the first nine months, SEK 21.5m (29.1)
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Strong cash flow from operations during the quarter of SEK 60.9m (46.2) and the first nine months, SEK 157.3m (110.8)
- Lower loan to value 68,2% (72,6)
CEO Peter Strand says in a comment: "The Company continues to develop positively. Our net operating income continues to strengthen due to a low vacancy in combination with a costfocused and locally present own organization. In addition, our administrative costs have decreased dramatically and are for 2012 almost 26 % lower than 2011. We have continued to amortize during the year and lowered our loan to value to appr 68 %. During the summer, we completed negotiations with Menigo of 32 000 sq.m. which resulted in new lease agreements with higher average rental per sq.m. as well in Malmoe as in Gothenburg. Among other things, this mades the average remaining lease duration to increase with 0.3 years during the quarter and is now 5.8 years. Our new-building project in Helsingborg for Green Cargo is proceeding according to plan and scheduled moving-in date is 1 December 2012."
Interim reporting material
The interim report and presentation material will be available at www.newsweb.no and www.nlpfastigheter.se before the presentation.
Presentation
Northern Logistic Property ASA will release its third quarter and first nine months results for 2012 today, 18 October 2012. In connection with this, the company will give a presentation at Felix Konferenscenter, Aker Brygge, Oslo 08:30 CET.
Peter Strand, CEO and Tommy Åstrand, CFO will represent the company.
Webcast
The presentation will also be broadcasted live on the company's investor website: www.nlpfastigheter.se. Questions to the management can be sent online from the webcast during the presentation. A recorded version of the presentation will also be available on www.nlpfastigheter.se after the broadcast has concluded. The presentation will be held in Swedish.
For further information
Peter Strand, CEO: +46 705 88 1661, email: peter.strand@nlpfastigheter.se
Tommy Åstrand, CFO: +46 705 45 5997, email: tommy.astrand@nlpfastigheter.se
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Northern Logistic Property ASA
Northern Logistic Property ASA (NLP) is a leading pure-play logistic property company based in the Nordic region. The portfolio consists of 20 advanced logistic properties located in strategic locations relative to major logistics flows, with a total lettable area of 711 365 square meters. It is the only listed company of its sort in the Nordic countries.
NLP delivers stable and increasing revenue and cash flow from rental income, driven by an attractive lease structure with solid tenants.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
Q3 and first nine months 2012
Presentation Q3 and first nine months 2012