1.3 billion in profit before tax for the year 2021
RELOG's position as a leading logistics player in the Nordic region is the result of over 20 years of long-term and solid work. The company is now reaping the benefits of this work in a hot logistics market.
For the year 2021, RELOG has a profit before tax of NOK 1.3 billion. The value of total assets in the balance sheet is now approximately NOK 14 billion adjusted for ownership interests in associated companies.
Rental income is expected to increase significantly in the years to come from the current annual "run-rate" which has exceeded NOK 500 million. The CEO of RELOG, Christian Wist, comments: “We are very pleased with the result for the year 2021 and we are optimistic about the future. The expected increase in rental income is largely driven by the company's project portfolio, which is of significant size. The project portfolio ensures RELOG a stable and good growth in revenues and values in the years ahead ».
One of the major events during the year 2021 was the transaction with a major portfolio purchase of properties for approximately NOK 1.3 billion with a net weighted yield of approx. 6%. The portfolio consists of seven properties in the Nordic region within warehousing, logistics and light industry. The transaction was strategically important for RELOG as it increased the geographical diversification of the real estate portfolio. In addition, this portfolio of high-quality real estate combined with attractive development opportunities will support the company's future growth ambitions.