KMC Properties ASA - Results for the fourth quarter and full year 2022

23.02.2023 06:06

KMC Properties ASA, a real estate company focusing on industrial and logistic properties, recorded rental income of NOK 80 million for the fourth quarter of 2022, up from NOK 55 million for the fourth quarter last year, primarily driven by additional income from new investment properties. "We are very pleased with our accomplishments for the fourth quarter of 2022. Through completion of the first part of the transformative property transaction with BEWI, we could add 11 industrial properties to our portfolio and significantly strengthen our platform for further growth," says Liv Malvik, CEO of KMC Properties. For the full year 2022, KMC Properties had rental income of NOK 273 million, up from NOK 205 million for 2021. At the end of 2022, the company's investment properties were valued at NOK 5 366 million, up from NOK 3 982 million at the end of 2021 and from NOK 4 410 million at the end of the previous quarter. For the period, the increase mainly relates to the acquisition of the properties from BEWI for NOK 906 million. In addition, greenfield and capex investments amounted to NOK 55 million and fair value adjustments to NOK 18 million. Going forward, KMC Properties' key priority is to complete the refinancing of the company's senior secured bond loan with maturity in December this year. Further, the company is focusing on integrating recently acquired properties, completing the transformative agreement with BEWI by acquiring the remaining properties, further developing the pipeline of M&A opportunities, and securing progress in ongoing development projects. Please see the full report and presentation for the fourth quarter of 2022 attached. CEO Liv Malvik and CFO Kristoffer Holmen will present the company's financial results for the quarter from 10:00 today, Thursday 23 February 2023, at the premises of Sparebank 1 Markets in Olav V's gate 5 in Oslo, Norway. The presentation is open to all. The presentation can also be followed through a live webcast from The presentation will be held in English and questions can be submitted throughout the event. A recording of the webcast will be made available from the company's website. For further information, please contact: Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175 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. 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 07:00 CET on 23 February 2023.