Castellum's Interim Report January-September 2018: A record strong quarter - 13% growth in income from property management

Income for the period January-September 2018 amounted to MSEK 4,141 (MSEK 3,866 corresponding period previous year). Income from property management amounted to MSEK 2,219 (1,956), corresponding to SEK 8.12 (7.16) per share, an increase of 13%. Changes in value on properties amounted to MSEK 3,150 (2,069) and on derivatives to MSEK 202 (204). Net income after tax for the period amounted to MSEK 5,051 (3,424), corresponding to SEK 18.49 (12.53) per share. EPRA NAV amounted to SEK 168 (142) per share, an increase of 18%. Net investments amounted to MSEK 3,009 (4,560) of which MSEK 1,333 (3,452) were acquisitions, MSEK 2,123 (1,980) new developments, extensions and redevelopments and MSEK 447 (872) sales. Property value amounted to SEK 87.5 billion by the end of the period. Net lease for the period amounted to MSEK 157 (251).

For Castellum, this resulted in a new record quarter - income from property management rose 13%. The strong earnings after the third quarter mean that I am now even more convinced that in 2018, Castellum will be able to meet its overall target: an increase in income from property management (and thus the dividend) of 10%,” says CEO Henrik Saxborn.

New profitable development opportunities arise through continued high demand for modern, sustainable office spaces. Over the last few years, Castellum has taken a leading role in the expansion of Nyhamnen in central Malmö by constructing a new Swedish National Courts Administration and a new Nordic head office for E.ON. The investment totals SEK 2.3 billion and is one of the largest in the company’s history. This further reinforces Castellum’s position as a community-builder in the Öresund region,” concludes Saxborn.   

Enclosure: Interim Report January-September 2018

This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 8:00 a.m. CET on October 17, 2018.

For additional information, please contact:
Henrik Saxborn, CEO, Phone +46-31 60 74 50
Ulrika Danielsson, CFO, Phone +46-706 47 12 61

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 87.5 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.4 million square metres. 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 in Sweden and also in Copenhagen and Helsinki.
   In 2018, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on 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