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February 26, 2025 | Results

Results For The Year Ended 31 December 2024

Commenting on the results, Michael Slattery, Chief Executive of Logicor, said:

Our 2024 financial and operating results show the resilience of our business, demonstrating strong performance against all of our strategic objectives, despite broader macro-economic uncertainty during the year.

Our focus on active asset management and meeting our customers’ needs has meant that our occupancy rates remain high, whilst also delivering excellent releasing spreads and customer retention rates.

We have stepped up our development programme enabling us to capture very attractive returns as well as ensuring we expand our portfolio of modern, sustainably built logistics real estate in key European markets. This expansion is supported by a programme of increased asset disposals, with the proceeds reinvested into future growth opportunities.

As well as making significant progress towards our sustainability targets, the year saw company-wide support for community education and volunteering programmes across the UK and Europe.

The factors that drove our robust performance for last year mean we are highly confident about our prospects for 2025 and beyond.

Michael Slattery

Chief Executive Officer of Logicor

Highlights :

  • Like-for-Like Rental Growth1 was 3.0% year-on-year, driven by strong re-leasing spreads and the impact of rental indexation, which has moderated as rate cutting takes effect
  • EPRA Occupancy was 94% stable year-on-year driven by a strong customer retention rate
  • Gross Asset Value: €15.6 billion, an increase of €279 million since 31 December 2023. On a constant currency basis, the value of our portfolio was broadly stable year-on-year
  • Capital deployment: €435 million invested in the year on development and additions to our land bank, supported by €368 million of disposals
  • LTV: 49.3%, below leverage policy of not more than 55.0%

1 Net Rental Income at constant currency rates excluding loss of income from disposals, growth from development activity and fees from third-party Assets Under Management

ENDS


For more information: Lizzie Beuzeval Logicor Director of Communications and Marketing: [email protected] +44 (0) 7464980257

About Logicor:

Logicor is a leading owner, manager and developer of European logistics real estate.

As at December 2024, our portfolio of properties spans over 19 million square metres of warehouse space in key transportation hubs and close to major population centres, enabling us to support over 2,000 customers.

We are headquartered in London and Luxembourg and have teams of people based across Europe.

Our real estate and the strength of our network enable our customers’ goods to move through the supply chain and into society, every day. For more information visit www.logicor.eu