Castellum's Half-year Report January-June 2018: 14% Growth in Income From Property Management and New Operations in Helsinki

Castellum's Half-year Report January-June 2018: 14% Growth in Income From Property Management and New Operations in Helsinki
Castellum's Half-year Report January-June 2018: 14% Growth in Income From Property Management and New Operations in Helsinki

GÖTEBORG, Sweden, July 13, 2018 /PRNewswire/ --

 

  •  Income for the period January-June 2018 amounted to MSEK 2,740 (MSEK 2,563 corresponding period previous year).
  •  Income from property management amounted to MSEK 1,420 (1,248), corresponding to SEK 5.20 (4.57) per share, an increase of 14%.
  •  Changes in value on properties amounted to MSEK 827 (1,824) and on derivatives to MSEK 25 (152).
  •  Net income after tax for the period amounted to MSEK 2,425 (2,647), corresponding to SEK 8.88 (9.69) per share.
  •  EPRA NAV amounted to SEK 157 (138) per share, an increase of 14%.
  •  Net investments amounted to MSEK 2,069 (3,849) of which MSEK 1,019 (3,349) were acquisitions, MSEK 1,437 (1,356) new developments, extensions and redevelopments and MSEK 387 (856) sales. 
  •  Net lease for the period amounted to MSEK 128 (199).

"Once again, Castellum posts a strong half-year with healthy advances on all fronts. Compared with the outcome for corresponding period previous year, income from property management grew 14%. This means that I feel even more certain of my previous statement that, Castellum in its present form has excellent prerequisites for achieving a 10% improvement in income from property management for 2018," says Henrik Saxborn, CEO.

"Castellum maintains a high pace of change, which is ongoing in parallel across many different areas. Castellum has also taken another stride forward in positioning itself as a Nordic platform through its first acquisition in the Finnish market. Moreover, we have a focus on the company's growing, strategically located logistics platform and the development of an innovative co-working concept," concludes Saxborn.

Enclosure: Half-year Report January-June 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, at 8:00 a.m. CET on July 13, 2018.

For additional information, please contact:

Henrik Saxborn,
CEO,
Phone +46-31-60-74-50

lrika Danielsson,
CFO,
Phone +46-706-47-12-61
www.castellum.com  

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 84 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.4 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 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.

CCONTACT:

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

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SOURCE Castellum

This article was written by cool news network.

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