(Oslo, 11 July 2012)
Today Northern Logistic Property reports their second quarter and half year results for 2012.
Highlights for the period
Significantly improved net operating income in the first half year amounted to SEK 220.2 m (206.4) and in the quarter to SEK 108.9 m (104.2)
Significantly improved EBVAT that in the first half year amounted to SEK 112.9 m (77.9) and in the quarter to SEK 56.9 m (36.8)
Reduced maintenance and property costs to SEK 23.6 m (26.1) in the first half year while the quarter amounted to SEK 12.8 m (12.4)
Significantly reduced administrative costs during the first half year of SEK 14.6 m (20.0) and in the quarter, SEK 6.9 m (11.4)
Strong cash flow from operations during the first half year of SEK 110.9 m (81.0) and in the quarter, SEK 56.0 m (40.9)
Signed a 10 year lease with Norrlandsägg Economic Association in property Meter 6 in Umeå extensive 3470 sq ft
Events after the end of the first half year
Renegotiation of leases on 34 267 m² with Menigo in Malmo and Gothenburg, which increase the residual maturity of 5.5 years to 6.0 years for NLPs total property portfolio.
CEO Peter Strand says in a comment "We have another very strong quarter behind us, with low vacancy, continued strengthening of our financial position, and extensions of the lease. Our work with the refinancing of our loans are ongoing and have intensified during the second quarter. We are pleased with the response we received in the credit market and we are working towards the ambition to this year sign new loan agreements for the loans that will expire during autumn 2012 to spring 2014. I am very pleased that, after the end of the first half year, been able to extend the lease with Menigo in our properties in Malmö and Gothenburg. "
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 second quarter and half year results for 2012 today, 11 July 2012. In connection with this, the company will give a presentation at Thon Hotel Vika Atrium, 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.
Q2 and first half year 2012
Q2 Presentation and first half year 2012