Castellum’s interim report January-March 2014: 8% growth in income from property management
- Rental income for the period January-March 2014 amounted to SEKm 820 (SEKm 814 corresponding period previous year).
- Income from property management amounted to SEKm 323 (300), corresponding to SEK 1.97 (1.83) per share, an increase with 8%.
- The changes in value on properties amounted to SEKm 52 (32) and on derivatives to SEKm -170 (166).
- Net income after tax for the period amounted to SEKm 171 (403), corresponding to SEK 1.04 (2.46) per share.
- Net investments amounted to SEKm 864 (333) of which SEKm 324 (407) were new constructions, extensions and reconstructions, SEKm 636 (6) acquisitions and SEKm 96 (80) sales.
Gross leasing (i.e. the annual value of total leasing) during the period was SEKm 81 (84), of which SEKm 5 (4) were leasing of new constructions, extensions and reconstructions. Notices of termination amounted to SEKm 55 (57), of which bankruptcies were SEKm 3 (4) and SEKm 1 (1) were notices of termination with more than 18 months remaining length of contract. Net lease for the period was hence SEKm 26 (27).
”The positive trend has continued on Castellum’s side, with an 8% growth in income from property management. It is particularly gratifying that all segments contributed to the growth – both higher rental revenues as well as lower property and financing costs”, commented CEO Henrik Saxborn. “Furthermore, we enjoyed strong net leasing, totalling SEKm 26, where leasing within the existing portfolio accounted for a major share of the leasing performance”, Saxborn added.
Enclosure: Interim Report January-March 2014
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, Finance director, 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 39 billion, and comprises premises for office, retail, warehouse and industrial purposes with a total lettable area of approx 3.7 million sq.m. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland. Castellum is listed on NASDAQ OMX Stockholm AB Large Cap.
Castellum AB (publ), Box 2269, SE-403 14 Göteborg | Org nr/Corp Id no SE 556075-5550 | Phone +46 31 60 74 00 Fax +46 31 13 17 55