KMC Properties ASA

Earnings Release • Oct 27, 2022

KMC Properties ASA – Results for the third quarter of 2022

KMC Properties ASA – Results for the third quarter of 2022

KMC Properties ASA – Results for the third quarter of 2022

KMC Properties ASA, a real estate company focusing on industrial and logistic properties, recorded rental income of NOK 65.7 million for the third quarter of 2022, up from NOK 52.7 million for the third quarter last year, primarily driven by additional income from new investment properties.

“We focus on continuous execution of growth projects in line with our strategy and targets. So far this year, we have completed acquisition of five production properties and announced a transformative transaction with our tenant BEWI,” says Liv Malvik, CEO of KMC Properties.

For the first nine months of 2022, KMC Properties had rental income of NOK 193.1 million, compared to NOK 149.9 million for the comparable period of 2021.

At the end of the third quarter this year, KMC Properties’ investment properties were valued at NOK 4 410 million, up from NOK 4 129 million at the end of the previous period and from 4 001 million at the end of 2021. For the period, the increase relates to purchase of new investment properties of NOK 214 million, upgrades of existing properties of NOK 32 million, fair value adjustments of negative NOK 2 million and translation adjustments of NOK 37 million.

«We are pleased with our achievements so far this year. Our key priority the next months is to secure completion of the BEWI transaction and make sure the properties are well integrated into our portfolio, and at the same time continue to further develop our pipeline of attractive M&A opportunities to reach our strategic target of a NOK 8 billion real estate portfolio by the end of 2024”, Malvik concludes.

Please see the full report and presentation for the third 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 27 October 2022, at the premises of Carnegie at the 5th floor of Fjordalleen 16 at Aker Brygge in Oslo, Norway. The presentation is open to all. The presentation can also be followed by a live webcast from www.kmcp.no/en/investors. 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, 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 06:10 CEST on 27 October 2022.