More stabilized market, but decreased income from property management
(Thomson Reuters ONE) -
* Rental income for the period January - March 2010 amounted to SEKm 674 (SEKm
669 corresponding period previous year).
* Income from property management amounted to SEKm 234 (262), equivalent to
SEK 1.43 (1.60) per share, a decrease of 11%.
* The changes in value on properties amounted to SEKm 46 (-397) and on
interest rate derivatives to
SEKm -53 (-109).
* Net income after tax for the period amounted to SEKm 173 (-177), equivalent
to SEK 1.05 (-1.08) per share.
* The investments amounted to SEKm 255 (298).
Income from property management for the period, i.e. net income excluding
changes in value and tax, amounted to SEKm 234 (262), equivalent to SEK 1.43
(1.60) per share. The decrease amounted to 11% and is above all an effect of
higher costs for snow removal and heating. During the period, changes in value
on properties and derivatives amounted to, respectively, SEKm 46 (-397) and SEKm
-53 (-109).
The net leasing during the period amounted to SEKm 2 (-22). Investments during
the period amounted to SEKm 255 (298), of which SEKm 83 (0), were acquisitions
and SEKm 173 (298) new construction, extensions and reconstruction.
"Castellum has good earnings, but it is never satisfactory to show a negative
growth in income from property management - we are not used to that! comments
CEO Håkan Hellström. "However, we see tendencies of an improving rental and real
estate market with interesting business opportunities" adds Hellström.
Enclosure: Interim Report January - March 2010
Castellum is one of the major listed real estate companies in Sweden. The fair
value of the real estate portfolio amounts to approx. SEK 30 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 Öresund
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.
Ulrika Danielsson, Finance Director, phone +46
[HUG#1405683]
Press release 8/2010: http://hugin.info/1042/R/1405683/359399.pdf
Interim Report January-March 2010: http://hugin.info/1042/R/1405683/359400.pdf
Unternehmensinformation / Kurzprofil:
Datum: 20.04.2010 - 11:09 Uhr
Sprache: Deutsch
News-ID 19321
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