Castellum's Interim Report January-March 2017: 9% Increase in Income From Property Management and Net Lease at Record Level

GÖTEBORG, Sweden, April 25, 2017 /PRNewswire/ --

•  Rental income for the period January-March 2017 amounted to SEKm 1 304
  (SEKm 855 corresponding period previous year). 

• Income from property management amounted to SEKm 592 (376), corresponding
  to SEK 2,17 (1,99) per share, an increase of 9%.

• Changes in value on properties amounted to SEKm 940 (489) and on derivatives
  to SEKm 77 (–148).

• Net income after tax for the period amounted to SEKm 1 426 (577), corresponding
  to SEK 5.22 (3.05) per share.

•  Net investments amounted to SEKm 2,360 (2,442) of which SEKm 2,564 (2,110) were acquisitions, SEKm 628 (335) new constructions, extensions and reconstructions and SEKm 832 (3) sales. 
• Net lease for the period amounted to SEKm 103 (0).

"Castellum is delivering another quarter with strong results. Net leasing increased to a historically high level of SEKm 103 and it is particularly pleasing to see that there is a good net leasing in all our regions," says CEO Henrik Saxborn.

"Business activity has been high and we have continued our repositioning towards more central locations in growth areas. For example, we currently have a portfolio in central Stockholm with a total area of approximately 115,000 sq.m. The rental market in Sweden is on the rise with new record high rents as a result. Castellum continues to invest, primarily in own projects for higher profitability and growth, " Saxborn continues.

Enclosure: Interim Report January-March 2017

For additional information, please contact:
Henrik Saxborn, CEO, Phone +46-31-60-74-50
Ulrika Danielsson, CFO, Phone +46-31-60-74-74
www.castellum.se

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 74 billion, and comprises of 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 17 cities from Copenhagen in the south to Sundsvall in the north.

In 2016, Castellum sustainability performance was awarded two top distinctions: First Prize for sustainability reporting in Europe from EPRA and Global Sector Leader, handed out by GRESB which means that Castellum is ranked first in the world within the office- and industrial-properties sector. Further Castellum has been selected as an index component of the Dow Jones Sustainability Indices (DJSI), which includes the companies in all industries in the world with best performance in terms of sustainability.

The Castellum share is listed on Nasdaq Stockholm Large Cap.

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SOURCE Castellum

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