firmenpresse print | 50th consecutive quarter of growth in income from property management

15.10.2009	50th consecutive quarter of growth in income from property management
- Rental income for the period January - September 2009 amounted to SEKm 2,022 (SEKm 1,849 corresponding period previous year). - Income from property management improved by 19% to SEKm 882 (739), equivalent to SEK 5.38 (4.51) per share. - The changes in value on properties amounted to SEKm -953 (-791) and on interest rate derivatives to SEKm 102 (-195). - Net income after tax for the period amounted to SEKm 17 (-172), equivalent to SEK 0.10 (-1.05) per share. - The investments amounted to SEKm 849 (2,221). - The total value of the properties amounted to SEKm 29,061 (29,165 at the end of previous year) with a loan to value ratio of 52% (50%). Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 882 (739), equivalent to SEK 5.38 (4.51) per share. The improvement is 19% and above all an effect of lower interest rates, but also higher rental incomes and investments made have had a positive effect. The net leasing amounted to SEKm -27 (70). During the period investments totalling SEKm 849 (2,221) were made. During the period, changes in value on properties and derivatives amounted to, respectively, SEKm -953 (-791) and SEKm 102 (-195). "Growth in income from property management of 19% during a recession is fantastic, but one must take into consideration the record low interest rate levels and that the effect of the negative net leasing not yet has been seen in the result." comments CEO Håkan Hellström. An election committee has been appointed in accordance to the Annual General Meeting's decision. The election committee is formed by: Maj-Charlotte Wallin representing AFA Försäkring, Paul Frentrop representing Stichting Pensioenfonds ABP, Lars-ÿke Bokenberger representing AMF Pension and the Chairman of the Board Jan Kvarnström. Enclosure: Interim Report January - September 2009 Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to SEK 29 billion, and comprises premises for office, retail, warehouse and industrial purposes. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the ÿresund Region, Greater Stockholm, Mälardalen and Eastern Götaland. Castellum is listed on NASDAQ OMX Stockholm AB Large Cap. For further information, please contact Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56 Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile + 46 706-47 12 61 or visit www.castellum.se Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. http://hugin.info/1042/R/1347751/324144.pdf http://hugin.info/1042/R/1347751/324145.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Company: Castellum AB (publ) contact information: Town: London
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