18% growth in income from property management but continued imbalance
on the property market>
18% growth in income from property management but continued imbalance on the property market
(Thomson Reuters ONE) - - Rental income for the period January - June 2009 amounted to SEKm1,346 (SEKm 1,218 corresponding period previous year). - Income from property management improved by 18% to SEKm 557 (473),equivalent to SEK 3.40 (2.88) per share. - The changes in value on properties amounted to SEKm -814 (-467)and on interest rate derivatives to SEKm 68 (60). - Net income after tax for the period amounted to SEKm -133 (49),equivalent to SEK -0.81 (0.30) per share. - The investments amounted to SEKm 566 (1,582). - The total value of the properties amounted to SEKm 28,917 (29,165at the end of previous year) with a loan to value ratio of 53% (50%).Income from property management for the period, i.e. net incomeexcluding changes in value and tax, amounted to SEKm 557 (473),equivalent to SEK 3.40 (2.88) per share. The improvement is 18% andabove all an effect of lower interest rates, but also higher rentalincomes and investments made have had a positive effect. The netleasing amounted to SEKm -27 (62). During the period investmentstotalling SEKm 566 (1,582) were made.During the period, changes in value on properties and derivativesamounted to, respectively, SEKm -814 (-467) and SEKm 68 (60)."Even if the recession has become more visible on the rental marketthe growth in income from property management is very strong and thenet leasing so far is better than expected" comments CEO HåkanHellström. "I'm also pleased that Castellum has succeeded in signingnew long term credit agreement of SEK 1 billion, which can be seen asa sign of a more normal credit market" adds Håkan Hellström.Enclosure: Half-year Report January - June 2009Castellum is one of the major listed real estate companies in Sweden.The fair value of the real estate portfolio amounts to SEK 29billion, and comprises premises for office, retail, warehouse andindustrial purposes. The real estate portfolio is owned and managedby six wholly owned subsidiaries with strong local roots in fivegrowth regions: Greater Gothenburg, the ÿresund Region, GreaterStockholm, Mälardalen and Eastern Götaland. Castellum is listed onNASDAQ OMX Stockholm AB Large Cap.For further information, please contactHåkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile +46 706-47 12 61or visit www.castellum.seCastellum AB (publ) discloses the information provided hereinpursuant to the Securities Markets Act and/or the FinancialInstruments Trading Act.http://hugin.info/1042/R/1328680/313335.pdfhttp://hugin.info/1042/R/1328680/313337.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 14.07.2009 - 11:11 Uhr
Sprache: Deutsch
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