KMC Properties ASA - Results for the third quarter of 2021

18 Nov 2021 07:00 CET

KMC Properties ASA, a real estate company focusing on industrial and logistic
properties, recorded a strong third quarter 2021, with net operating income
increasing 8 per cent to NOK 55.6 million quarter-on-quarter and an operating
profit of NOK 46.2 million, compared to NOK 30.9 million the previous quarter.
The company was established in 2020, and therefore has not recorded financials
for the corresponding period of 2020.

"KMC Properties' rental income rose to NOK 57.7 million in the third quarter,
primarily driven by additional income generated from new investments. We
continued to deliver on our ambitious growth strategy in the period, which was
marked by a series of value-accretive acquisitions and culminated in a
successful private placement, providing us with further financial flexibility to
execute on the pipeline of attractive opportunities we have identified," says
Liv Malvik, CEO of KMC Properties.

For the third quarter, KMC Properties posted a total income of NOK 57.7 million,
up from NOK 53.7 million for the second quarter this year. Net income from
property management rose to NOK 20.9 million, from NOK 14.9 million for the
previous quarter. The group's property portfolio was valued at NOK 3.7 billion
at the end of the period.

The company announced the acquisition of an industrial property at Mongstad,
Norway, in in the quarter, and received acceptance of a conditional offer for
the acquisition of a production facility in Denmark. In addition, the company
signed a Letter of Intent with Slakteriet to build a salmon slaughterhouse
facility at Florø, in Norway's Vestland county, and an agreement with Oppdal
Spekemat for the construction of a new production facility in Oppdal, in the
Trøndelag county in central Norway.

"So far this year, we have announced a total of four acquisitions and three
development projects, steadily growing our portfolio of logistics- and
production properties across the Nordic region. At the end of this quarter, our
portfolio was valued at NOK 3.7 billion, representing a 20 per cent increase
year-to-date," says Malvik. "All our projects have similar key characteristics,
in line with our strategy, including strategic locations, modern facilities,
long lease agreements and attractive counterparties."

To finance the company's ongoing growth initiatives, KMC Properties carried out
a NOK 300 million private placement in September, further strengthening the
company's financial position.

KMC Properties has a robust platform for growth, including a strong financial
position, an increasingly diversified property portfolio and a tangible pipeline
of new opportunities. The company remain confident in its ability to reach its
strategic target of a NOK 8 billion real estate portfolio by the end of 2025.

For more information, please see the full report and presentation for the third
quarter of 2021 attached.

CEO Liv Malvik and CFO Kristoffer Holmen will present the company's financial
results for the third quarter 2021 on Thursday 18 November 2021 at 10:00 CET.
The presentation, which is open to all, will be hosted by Pareto Securities, at
the 11th floor of Dronning Mauds gate 3 in Oslo. The presentation can also be
followed by a live webcast from www.kmcp.no/en/investors

For further information, please contact:
Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175
Kristoffer Holmen, CFO KMC Properties ASA, tel. +4792814862
Charlotte Knudsen, IR and Communications KMC Properties ASA, tel. +4797561959

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
07:00 CET on 18 November 2021.

More information:
Access the news on Oslo Bors NewsWeb site

547161_KMC Properties Q321 presentation.pdf
547161_KMC Properties Q321 report.pdf

Source

KMC Properties ASA

Provider

Oslo Børs Newspoint