Castellum's Interim Report January-September 2017: 6% Growth in Income From Property Management - Net Leasing on a Continued High Level

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Castellum

20 Oct, 2017, 06:22 GMT

GÖTEBORG, Sweden, Oct. 20, 2017 /PRNewswire/ --

  • Rental income for the period January-September 2017 amounted to SEKm 3,866 (SEKm 3,166 corresponding period previous year). 
  • Income from property management amounted to SEKm 1,956 (1,492), corresponding to SEK 7.16 (6.74) per share, an increase of 6%.
  • Changes in value on properties amounted to SEKm 2,069 (2,065) and on derivatives to SEKm 204 (- 224).
  • Net income after tax for the period amounted to SEKm 3,424 (2,491), corresponding to SEK 12.53 (11.25) per share.
  • Net investments amounted to SEKm 4,560 (30,197) of which SEKm 3,452 (28,894) were acquisitions, SEKm 1,980 (1,384) new constructions, extensions and reconstructions and SEKm 872 (81) sales. 
  • Net lease for the period amounted to SEKm 251 (94).

"Net leasing continued on a high level during the quarter and the rental market displays a stable and strong trend", says CEO Henrik Saxborn. "In addition, Castellum shows a strong income from property management despite the major property sales that have taken place since last year."

"The investment rate is high and the project portfolio has grown steadily. It is gratifying to see that, in line with our objectives, our own projects constitute an increasing share of investments. The total existing real estate portfolio for reported major projects amounts to SEKm 3,700. Overall, I cannot be anything but positive about Castellum's continued development. We've paved the way for an excellent 2018", Saxborn sums up.

Enclosure: Interim Report January-September 2017

This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 8:00 am CET on October 20, 2017.

For additional information, please contact:

Henrik Saxborn
CEO Castellum AB
phone +46-31-60-74-50

Ulrika Danielsson
CFO, Castellum AB
phone +46-31-60-74-74

www.castellum.com  

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 76 billion and comprises commercial properties for office, retail, warehouse and logistics with a total lettable area of approx. 4.4 million sq. m. 

The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities from Copenhagen in the south to Sundsvall in the north.

In 2017, Castellum's sustainability performance was awarded two top distinctions: First Prize for sustainability reporting in Europe from EPRA and the Global Sector Leader Award from GRESB, which means that Castellum is ranked as number one in the world within the office- and industrial-properties sector. In addition, Castellum has been selected for inclusion in the Dow Jones Sustainability Index (DJSI), which includes international companies noted for outstanding performance in dealing with sustainability issues. 

The Castellum share is listed on Nasdaq Stockholm Large Cap.

Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Corp Id no SE 556475-5550 | Phone +46 31 60 74 00

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