"Under the period January-September net operating income totalled SEK 5,134 M, corresponding to an increase of 3.9 per cent. With a strong financial position, a robust cash flow and a good financing market, we have all the conditions for once again becoming a significant player in the Nordic investment market," says Joacim Sjöberg, Chief Executive Officer of Castellum AB.
January-September 2024
- Income totalled SEK 7,405 M (7,328), of which SEK 64 M (0) pertained to estimated indemnity. In the like-for-like portfolio, rental income increased 2.8 per cent (8.6), excluding currency effects.
- New leases have been concluded for 206,000 square metres (228,000) and an annual rent of SEK 399 M (437). Net leasing totalled SEK -10 M (-16) for the period and SEK -61 M (-8) for the last 12 months.
- Net operating income totalled SEK 5,134 M (4,939), corresponding to an increase of 3.9 per cent. Net operating income in the like-for-like portfolio increased 4.7 per cent (9.1), excluding currency effects.
- Income from property management totalled SEK 3,735 M (3,343), corresponding to an increase of 11.7 per cent.
- Net investments totalled SEK -327 M (-1,063), of which SEK 1,588 M (2,321) pertained to new construction, extensions and reconstructions, SEK 54 M (327) to acquisitions and SEK -1,969 M (-3,711) to sales.
- Changes in value of investment properties for the period totalled SEK -1,632 M (-8,230), corresponding to -1.2 per cent (-6.0). The value of the property portfolio amounted to SEK 135.8 Bn (137.6) at the end of the period.
- The loan-to-value ratio was 36.6 per cent (37.4).
- The interest coverage ratio for the latest twelve-month period was 3.3 (3.0) and interest-rate hedging was applied to 71 per cent (73) of the loan portfolio at the end of the period.
July-September 2024
- Income totalled SEK 2,428 M (2,415). In the like-for-like portfolio, rental income increased 3.2 per cent (7.4), excluding currency effects.
- New leases have been concluded for 78,000 square metres (67,000) and an annual rent of SEK 136 M (117). Net leasing totalled SEK -16 M (16).
- Net operating income totalled SEK 1,743 M (1,717), corresponding to an increase of 1.5 per cent. Net operating income in the like-for-like portfolio increased 3.3 per cent (10.1), excluding currency effects.
- Income from property management totalled SEK 1,300 M (1,250), corresponding to an increase of 4.0 per cent.
- Net investments totalled SEK 147 M (774), of which SEK 564 M (752) pertained to new construction, extensions and reconstructions, SEK 2 M (327) to acquisitions and SEK -419 M (-305) to sales.
- Changes in value of investment properties for the period totalled SEK -56 M (-1,612), corresponding to -0.0 per cent (-1.1).
Annex: Interim report January-September 2024
For further information, please contact:
Joacim Sjöberg, Chief Executive Officer, Castellum AB, +46 8 503 052 00
Jens Andersson, Chief Financial Officer, Castellum AB, +46 (0)76 855 67 02
About Castellum
Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 30 September 2024, the property value totalled approximately SEK 155 Bn, including the ownership share of the Norwegian company Entra ASA. We are active in attractive Nordic growth regions. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap and is classified as green according to Green Equity Designation.
Beyond expectations.
www.castellum.com
This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-25 08:00 CEST.
