KMC Properties ASA - Company presentation and potential impact from Russia's invasion of Ukraine

15.03.2022 08:00

KMC Properties ASA, a real estate company focusing on industrial and logistic properties, will participate on several financial conferences in March. Please find the updated investor presentation to be used attached. The presentation is based on financial results for the fourth quarter and full year 2021. KMC Properties owns an office building in Moscow, Russia. The building was booked at NOK 143 million in the financial accounts on 31 December 2021, 3.6 per cent of the total portfolio value, and the net operating income from the property was NOK 9.1 million in 2021. Sanctions imposed on Russia due to its invasion of Ukraine, significantly increases the risks related to the value of the property, as well as the rental income, and thus KMC Properties expects an impairment related to the property value in the first quarter of 2022. For further information, please contact: Kristoffer Holmen, CFO KMC Properties ASA, tel. +4792814862 About KMC Properties ASA KMC Properties is an Oslo Børs-listed real estate company focusing on industrial- and logistic properties. The company has a diversified portfolio of properties in the Nordics and the Netherlands, as well as an office building in Moscow, Russia. The properties are strategically located and have long lease agreements with solid tenants. KMC Properties has an ambitious strategy to grow the portfolio through further development of existing properties, as well as M&A initiatives. The information is such that KMC Properties ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:00 CET on 15 March 2022.