Castellum's half-year report January-June 2020:
Strong first half of the year with 9% growth in income from property management
- Income for the period January-June 2020 amounted to MSEK 2,999 (MSEK 2,871 corresponding period previous year).
- Income from property management amounted to MSEK 1,689 (1,543), corresponding to SEK 6.18 (5.65) per share – an increase of 9%.
- Changes in value on properties amounted to MSEK 418 (1,882) and on derivatives to MSEK -209 (-297).
- Net income after tax for the period amounted to MSEK 1,534 (2,586), corresponding to SEK 5.62 (9.47) per share.
- Long term net asset value amounted to SEK 199 (184) per share – an increase of 8%. Net investments amounted to MSEK 1,378 (-186) of which MSEK 292 (2,770) were acquisitions, MSEK 1,205 (1,473) new constructions, extensions and reconstructions and MSEK 119 (4,057) sales.
- Net lease for the period amounted to MSEK 200 (4).
“It is still too early to draw any conclusions about how the corona pandemic will ultimately affect our industry. What we can say today is that Castellum has so far managed the challenge in a good way. In terms of results, we have hardly seen any negative impact. On the contrary, the profit for the first six months increased by 9% and we show marginal positive value adjustments of the total property portfolio,” says Henrik Saxborn, CEO, Castellum AB. “After our strong first six months, I humbly believe that 2020 will eventually result in increased income from our property management, and thus also the dividend, for the 23rd consecutive year,” says Saxborn.
Enclosure: Interim report January-June 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 July 15, 2020.
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
About Castellum: Castellum is one of Sweden's largest listed real estate companies with a property value of SEK 95.2 billion. We are active in 17 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions in close proximity to city centres and with a lettable area of 4.3 million square meters. One of our sustainability goals is to be completely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap. For further information visit www.castellum.com.