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September 04, 2025 | Results Press Release

Logicor announces results for six months ended 30 June 2025

September 4th 2025: Logicor, leading owner, manager and developer of European logistics real estate, has today announced results for the half year ending 30 June 2025.

Michael Slattery, Logicor Chief Executive Officer, said:

Our business has performed well during the first six months of the year, demonstrated by strong like-for-like income growth and an increased focus on capital recycling.

Our financial results demonstrate the supportive supply-demand dynamic for logistics real estate which, despite some occupier caution, continues to drive rental growth across our portfolio.

We remain focussed on expanding our presence in key European markets, funding sustainable developments with capital recycled from strategic disposals.

With the continued drive of our expert team of in-house real estate professionals, we will build on these achievements, and sustain this momentum throughout the remainder of 2025 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:

  • LFL Net Rental Income1 increased by €17 million / 5.0% in the first half of the year, driven by strong re-leasing spreads and the impact of rental indexation.
  • Net Operating Income (NOI): €364 million, an increase of 2.0% from the six months ended 30 June 2024, mainly impacted by non-core sales.
  • EPRA Occupancy: 93.2%, a decrease of 80 bps since 31 December 2024.
  • Gross Asset Value: €15.1 billion, a decrease of €568 million since 31 December 2024 due to disposals, albeit stable on a LFL basis.
  • LTV: 48.5%, 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, fees from third-party Assets Under Management.