During the fourth quarter of 2020, the companies KMC Properties AS and KMC Properties ASA (previously named Storm Real Estate ASA) were combined into an Oslo Børs listed real estate company focusing on logistics- and industrial properties. Today, the company has a portfolio of 41 strategically located logistics- and industrial properties with long lease agreements with solid tenants. In addition, the company has an office building in Moscow.
For the first quarter of 2021, KMC Properties recorded a net operating income of NOK 48.9 million. The company was established in 2020, and therefore has not recorded financials for the corresponding period of 2020. The operating profit before fair value adjustments was NOK 24.3 million for the period.
During the first quarter and into the second quarter this year, KMC Properties has significantly strengthened its organisation to prepare for further growth. The company has had good progress on its investment projects, including greenfield- and expansion projects together with existing customers, as well as several specific M&A projects.
KMC Properties has a solid financial position, a property portfolio with solid counterparts on long lease agreements, ongoing investment projects and a strong pipeline of M&A opportunities and is thus well positioned to deliver on its ambition to more than double its real estate value over the next five years.
For more information, please see the full report for the first quarter of 2021 attached.
CEO Liv Malvik and CFO Kristoffer Holmen will present the company’s result in a live webinar tomorrow, Friday 28 May 2021 on 10 am CEST. To register to the presentation, please go to the company’s www.kmcp.no
For further information, please contact:
Liv Malvik, CEO 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 41 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 21:00 CEST on 27 May 2021.