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Logicor Half Year Results 2024

September 05, 2024 | Lizzie Beuzeval

Logicor announces results for six months ended 30 June 2024

September 5th 2024: Logicor, leading owner, manager and developer of European logistics real estate, has today announced results for the half year ending 30 June 2024.

Michael Slattery, Logicor Chief Executive Officer, said:

Our financial results reflect a strong performance by the business during the first six months of 2024, delivering continued income growth and expanding our development programme.

Our financial results demonstrate the positive supply demand dynamic for logistics real estate, which continues to support low vacancy rates and rental growth in our key markets.

We have stepped up investment in our development pipeline and continued to make our assets more energy efficient, as we strive to meet our ambitious target of reducing our carbon footprint by 36% by 2030.

Our network of strategically located real estate assets and expert teams has ensured income growth and further expansion of our development programme, and I am confident that we will continue to build on this progress for the rest of 2024 and beyond.”

Michael Slattery

Chief Executive Officer of Logicor

We have stepped up investment in our development pipeline and continued to make our assets more energy efficient, as we strive to meet our ambitious target of reducing our carbon footprint by 36% by 2030.

Our network of strategically located real estate assets and expert teams has ensured income growth and further expansion of our development programme, and I am confident that we will continue to build on this progress for the rest of 2024 and beyond.”

Michael Slattery

Chief Executive Officer of Logicor

Key Highlights:

  • Net Operating Income (NOI): €357 million, an increase of 2.6% from the six months ended 30 June 2023.
  • LFL1 Net Rental Income increased by €11 million / 3.2% in the first half of the year.
  • EPRA Occupancy:  94.3% - remains at the same level as 31 December 2023.
  • Gross Asset Value: €15.6 billion, an increase of €305 million since 31 December 2023.
  • LTV: 50%, within our operating range of 48-52%

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


Notes to Editors

Recording of HY results can be found here:
https://www.logicor.eu/en/eu/investors/results-reports-and-presentations

For more information on Results, contact:

Shane Kelly: Chief Financial Officer: [email protected]
Chris Houlihan: Group Treasurer: [email protected]

Media Enquiries:
Lizzie Beuzeval: Director of Communications and Marketing:  [email protected]


About Logicor:

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

As at June 2024, our portfolio of properties spans over 20 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