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Castellum Year-end Report 2018: 17% growth in income from property management and a proposed dividend for the 21st consecutive year of SEK 6.10 per share

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  •  Income for 2018 amounted to MSEK 5,577 (MSEK 5,182 previous year).
  •  Income from property management amounted to MSEK 2,952 (2,530), corresponding to SEK 10.81 (9.26) per share – an increase of 17%.
  •  Changes in value on properties amounted to MSEK 5,216 (4,540) and on derivatives to MSEK 152 (247).
  •  Net income after tax for the year amounted to MSEK 7,453 (5,876) corresponding to SEK 27.28 (21.51) per share.
  •  Long term net asset value amounted to SEK 176 (153) per share – an increase of 15%.
  •  Net investments amounted to MSEK 2,657 (5,613) of which MSEK 2,455 (3,595) were acquisitions, MSEK 2,837 (2,893) new developments, extensions and re-developments and MSEK 2,635 (875) sales. Property value amounted to SEK 89.2 billion by the end of the year.
  •  Net lease for the year was MSEK 161 (310).
  •  The Board proposes a dividend of SEK 6.10 (5.30) per share, which is equivalent to an increase of 15%, distributed in two equal payments of SEK 3.05. 

“I am very proud of our 2018 results – one of the best in the Castellum’s history. We are delivering an increase of 17% in income from property management and our dividend tradition continues with the Board proposing an increased dividend for the 21st consecutive year,” says Henrik Saxborn, CEO.

“Our focus is on creating long-term shareholder value, in both strong and weak business cycles. There are signs of a somewhat more weakening rental market going forward, but Castellum is well equipped with our strategic portfolio, clear focus on offices and logistics and continued development of our customer offering,” Saxborn concludes. 
 

Enclosure: Year-end Report 2018
 

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, on January 23, 2019, at 8.00 AM CET. 

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
www.castellum.com

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 89.2 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.3 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. 

Castellum AB (publ), Box 2269, 403 14 Gothenburg, Sweden | Corp.Id.no. 556475-5550   | Phone +46 (0)31-60 74 00

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Castellum Henrik Saxborn Ulrika Danielsson Year-end Report 2018

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