Castellum’s half-year report, January-June 2016: Strong growth in income from property management and positive net leasing

  • Rental income for the period January-June 2015 amounted to SEKm 1,807 (SEKm 1,617 corresponding period previous year).
  • Income from property management amounted to SEKm 820 (716), corresponding to SEK 4.20 (3.79) per share, an increase with 11%. 
  • The changes in value on properties amounted to SEKm 616 (880) and on derivatives to SEKm – 223 (137).
  • Net income after tax for the period amounted to SEKm 844 (1,399), corresponding to SEK 4.32 (7.40) per share.
  • The net investments amounted to SEKm 29,658 (1,730) of which SEKm 28,889 (1,422) were acquisitions, SEKm 802 (569) new constructions, extensions and reconstructions and SEKm 33 (261) sales.
  • In Q2, Castellum acquired the Norrporten AB (publ) shares for SEKm 13,594 including transaction costs of SEKm 126, with an underlying property value of SEK 26 billion.
  • Net lease for the period was SEKm 47 (37).
  • Jörgen Lundgren was appointed CEO of Castellum’s Northern Region and becomes a member of Castellum’s Executive Group Management. Jörgen was previously CEO of Norrporten.

“The situation right now is very positive – for several reasons. The rental market is strong and we’re renegotiating several leases with substantial rent increases in our now-numerous city locations. The integration of Norrporten, including synergies, is proceeding even more quickly than the original plan and, starting next year, Norrporten will contribute fully to the Group’s financial results”, says Henrik Saxborn, CEO of Castellum.

Saxborn adds, “We retain the same long-term target as before: a ten percent annual growth in property-management income and – consequently – for dividends; all driven by average annual investments of approximately SEK 3.5 billion. A substantial portion of these investments will involve our own projects.”

As of today, Jörgen Lundgren has been appointed member of Castellum’s Executive Group Management. Jörgen was named CEO of Castellum’s Northern Region with headquarters in Sundsvall, effective June 15th. He was previously CEO for Norrporten AB for three years as well as assistant manager for the years 2007–2013. Jörgen Lundgren is an MBA graduate with extensive experience in the banking and financing industry – for example, as Regional Manager of Nordea for 1999–2006.

“I’m pleased that Jörgen has taken on this role. With his extensive knowledge he’ll contribute expertise and experience as well assuring valuable continuity”, says Henrik Saxborn.

 

Enclosure: Half-year Report January-June 2016

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 person set out below,
at 11:00 am CET on June 15, 2016.


 

For additional information, please contact:
Henrik Saxborn, CEO, Tel +46-31-60 74 50
Ulrika Danielsson, CFO, Tel +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 72 billion, and comprises of commercial properties for office, retail, warehouse and
industrial with a total lettable area of approx. 4.7 million sq.m.

Castellum own and manage properties through one common brand in five geographical regions with strong local presence. The five geographical regions are: Central, North, Stockholm, West and Öresund.

In 2015, Castellum sustainability performance was awarded two top distinctions: the World Green Building Council’s award Business Leadership in Sustainability and “Green Star 2015” by GRESB. This means that
Castellum is one of the highest ranking companies in the world in the real estate sector.

The Castellum share is listed on Nasdaq Stockholm Large Cap.

Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Org nr/Corp Id no SE 556475-5550 | Phone +46 31 60 74 00 Fax +46 31 13 17 55

About Us

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to 87.5 billion kronor and holdings comprise office, warehousing/logistics and public-service premises, 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. www.castellum.se