Castellum's Interim Report January-March 2020: Strong Start of the Year Results in 9% Increase in Income from Property Management and a Stable Position in a Difficult Time

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Castellum

Apr 24, 2020, 03:01 ET

GÖTEBORG, Sweden, April 24, 2020 /PRNewswire/ --

  • Income for the period January-March 2020 amounted to MSEK 1,476 (MSEK 1,433 corresponding period previous year).           
  • Income from property management amounted to MSEK 794 (726), corresponding to SEK 2.91 (2.66) per share - an increase of 9%.           
  • Changes in value on properties amounted to MSEK 3 (689) and on derivatives to MSEK -167 (-121).            
  • Net income after tax for the period amounted to MSEK 482 (1,341), corresponding to SEK 1.76 (4.91) per share.           
  • Long term net asset value amounted to SEK 193 (178) per share - an increase of 8%.            
  • Net investments amounted to MSEK 643 (-726) of which MSEK 75 (2,518) were acquisitions, MSEK 568 (777) new constructions, extensions and reconstructions and MSEK 0 (4,021) sales. Property value amounted to SEK 96.3 billion by the end of the period.            
  • Net lease for the period amounted to MSEK 99 (- 7).

"The first quarter has been strong, featuring an increase in income from property management with 9%, thanks to good cost control, efficient property-management work, along with contributions from completed projects. Further, it should be factored in that financial results for this period were only marginally affected by the ongoing Covid-19 crisis," says Henrik Saxborn, CEO, Castellum AB.

"With Covid-19 hovering in the background, future development is difficult to assess, and timing will be everything when considering possible effects on Castellum. I am humble before the fact that our entire society will be affected but feel confident that our stable relationships with our customers and financiers, as well as the commitment and competence of our coworkers, will take us through these adverse times. It's extra gratifying that we can continue to invest in important city development projects, such as E.ON's new headquarters and the Swedish National Courts' major project in Malmö. And we have more government projects on the drawing table," says Saxborn.

Enclosure: Interim report January-March 2020

This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse. The information was submitted for publication, through the agency of the contact persons set out below, at 8:00 am CET on April 24, 2020.

Castellum is one of the largest listed real estate companies in Sweden. Property values total SEK 96.3 billion and holdings comprise office, warehousing/logistics and public-sector properties, covering a total leasable area of 4.3 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 17 Swedish cities, as well as Copenhagen and Helsinki. Castellum is ranked as the most gender-diverse of 600 listed European companies by European Women on Boards, 2020. Castellum is the only Nordic real estate/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. In 2019, 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). The Castellum share is listed on Nasdaq Stockholm Large Cap. For further information visit www.castellum.com.

For further information contact:
Henrik Saxborn, CEO, Castellum AB, + 46 (0)31-60 74 50
Ulrika Danielsson, CFO, Castellum AB, +46 (0)706-47 12 61

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/castellum/r/castellum-s-interim-report-january-march-2020--strong-start-of-the-year-results-in-9--increase-in-in,c3095823

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SOURCE Castellum

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