- Rental income for the period January - June 2010 amounted to SEKm 1,367
Income from property management for the period, i.e. net income excluding
changes in value and tax, amounted to SEKm 537 (557), equivalent to SEK 3.27
(3.40) per share. The decrease amounted to 4% and is above all an effect of
higher costs for snow removal and heating during the first quarter. The income
from property management during the second quarter isolated improved by 3%. The
improved demand and the increasing transaction volume resulted in slightly lower
required yields. Castellum has therefore made an upward adjustment of the
property values with approx. SEKm 360, corresponding to approx 1%.
The net leasing during the period amounted to SEKm 11 (-27). Investments during
the period amounted to SEKm 456 (566), of which SEKm 83 (0), were acquisitions
and SEKm 373 (566) new construction, extensions and reconstruction.
"Both the rental market and the property market follow the development in the
Swedish economy. The demand for premises is still on good levels while notices
of termination and bankruptcies gradually decrease. The property market shows
signs of recover, with slightly increasing property prices as a result" comments
CEO Håkan Hellström.
Enclosure: Half-year Report January - June 2010
Castellum is one of the major listed real estate companies in Sweden. The fair
value of the real estate portfolio amounts to approx. SEK 30 billion, and
comprises premises for office, retail, warehouse and industrial purposes. The
real estate portfolio is owned and managed by six wholly owned subsidiaries with
strong local roots in five growth regions: Greater Gothenburg, the Öresund
Region, Greater Stockholm, Mälardalen and Eastern Götaland.
Castellum is listed on NASDAQ OMX Stockholm AB Large Cap.
For further information, please contact
Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56
Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile +
46 706-47 12 61
or visit www.castellum.se
Castellum AB (publ) discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Castellum AB (publ) via Thomson Reuters ONE