Castellum’s Year-end Report 2017: 5% growth in income from property management and a proposed dividend of SEK 5.30 per share

  • Rental income for 2017 amounted to SEKm 5,182 (SEKm 4,533 previous year).
  • Income from property management amounted to SEKm 2,530 (2,065), corresponding to SEK 9.26 (8.80) per share. An increase in absolute terms of 23% and in SEK/share of 5%.
  • Changes in value on properties amounted to SEKm 4,540 (4,085) and on derivatives to SEKm 247 (82).
  • Net income after tax for the year amounted to SEKm 5,876 (4,972), corresponding to SEK 21.51 (21.20) per share.
  • Long term net asset value amounted to SEK 153 (133) per share. An increase of 15%.  
  • Net investments amounted to SEKm 5,613 (24,737) of which SEKm 3,595 (29,372) were acquisitions, SEKm 2,893 (2,119) new constructions, extensions and reconstructions and SEKm 875 (6,754) sales. 
  • Net lease for the year was SEKm 310 (178).
  • The Board proposes a dividend of SEK 5.30 (5.00) per share, which is equivalent to an increase of 6%, distributed in two equal payments of SEK 2.65.

“The dividend tradition continues – and the Board proposes an increased dividend for the twentieth consecutive year,” says CEO Henrik Saxborn. “2017 became a new record year for Castellum – resulting from a strong local organization, an attractively positioned portfolio, and strong rental and real estate markets. This resulted in net leasing totalling SEKm 310 and an increase in value of SEK 4.5 billion. At year end, Castellum’s real estate value amounted to SEK 81 billion, and the loan to value ratio was 47%.”

Net investments totalled SEK 5.6 billion in 2017, with projects accounting for an increasing proportion. This makes me convinced that in 2018 – with the existing portfolio – we’ll have excellent opportunities to reach our goal of 10% growth in income from property management,” Saxborn concludes.

Enclosure: Year-end Report 2017  

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 persons set out below, at 8:00 am CET on January 25, 2018.

For additional information, please contact:
Henrik Saxborn, CEO Castellum AB, phone +46-31 60 74 50
Ulrika Danielsson, CFO, Castellum AB, phone +46-706 47 12 61
www.castellum.com  

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 81 billion and comprises 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 20 cities from Copenhagen in the south to Sundsvall in the north.  
   In 2017, 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

About Us

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 82 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 20 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. www.castellum.se