Castellum’s Interim Report January-March 2016:Strong growth in income from property management and positive property-value development
- Rental income for the period January-March 2016 amounted to SEKm 855 (SEKm 801 corresponding period previous year).
- Income from property management amounted to SEKm 366 (338), corresponding to SEK 2.23 (2.06) per share, an increase of 8%. Income has been charged with approx. SEKm 13 for non-recurring costs related to ongoing transactions and the recent reorganization. Excluding those costs the increase would have been 12%.
- Changes in value on properties amounted to SEKm 489 (329) and on derivatives to SEKm –148 (–102).
- Net income after tax for the period amounted to SEKm 577 (451), corresponding to SEK 3.52 (2.75) per share.
- Net investments amounted to SEKm 2,442 (1,039) of which SEKm 335 (295) were new constructions, extensions and reconstructions, SEKm 2,110 (822) acquisitions and SEKm 3 (78) sales. The investments include acquisition of the remaining 50% of the shares in CORHEI Fastighets AB (former Ståhls) with a property value of SEKm 2,083.
- After the reporting period, Castellum announced that in 2016 the company will bring the whole Group together under the single brand name Castellum and create a new operational structure. The change creates conditions for further growth, enhanced local presence and empowerment.
“The first quarter was characterized by strong growth in income from property management as well as positive value growth in the portfolio”, says Henrik Saxborn, CEO of Castellum. “Expediting a completed acquisition of Ståhls to March of this year will promote continued income growth from property management”.
“With the launch of a new corporate structure we’ll take Castellum to the next level under a joint brand – Castellum. We focus on strengthening local decision-making and increased delivery speed, as well as common support processes and initiatives in a number of strategic areas such as project development, sustainability and digitalization in order to increase our growth potential”, continues Saxborn.
Enclosure: Interim Report January – March 2016
Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
For further information, please contact
Henrik Saxborn, CEO, phone +46 31-60 74 50
Ulrika Danielsson, CFO, mobile +46 706-47 12 61
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 45 billion, and comprises premises for office, retail, warehouse and industrial purposes with a total lettable area of approx 3.6 million sq.m. Castellum owns and manages properties in growth regions in Sweden and Denmark.
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 | Tel +46 31 60 74 00 Fax +46 31 13 17 55