“Castellum is standing strong after the new share issue, completed property divestments and renegotiated rents. Despite an incipient recession, a higher key interest rate and a grim capital market, the second quarter demonstrated a continued strong demand in the Nordic office and logistics market. Castellum has concluded favourable renegotiations and signed many new contracts which gives a positive net letting of SEK 21 M during the quarter. This, together with increased rental income through inflation indexing, provided the company with record-high income of SEK 4,953 M, an increase of SEK 553 M over the year-earlier period,” says Joacim Sjöberg, CEO of Castellum AB.

• Income for the January–June period totalled SEK 4,953 M (4,400). In the like-for-like portfolio of the investment properties, rental income increased by 9.8 per cent (4.4).
• Net operating income for the January–June period totalled SEK 3,222 M (2,917), corresponding to an increase of 10.5 per cent.
• Income from property management totalled SEK 2,093 M (2,375), corresponding to SEK 4.98 per share (7.13).
• Changes in value on properties amounted to SEK -6,618 M (2,812) and on derivatives to SEK 753 M (2,470).
• After the new share issue was completed, the loan-to-value ratio amounted to 36.9 per cent (42.3).
• 71 per cent of the loan portfolio has a fixed interest term exceeding one year.
• The total lease value of all leases at 30 June 2023 was SEK 9,376 M (8,888).
• The occupancy rate was 92.8 per cent (93.7). The decrease is attributable primarily to the divestment of properties that were fully let at handover.
• Property sales totalled SEK 3,406 M (2,448).

Attachment: Half-year report January-June 2023

Castellum has decided to update the financial calendar as follows:

Interim report January–September 202327 October 2023
Year-end report January–December 202314 February 2024
Interim report January–March 20243 May 2024
Annual General Meeting 20247 May 2024
Half-year report January-June 202416 July 2024

For further information, please contact:
Joacim Sjöberg, CEO Castellum AB, +46 8 503 052 00
Jens Andersson, CFO Castellum AB, +46 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 June 2023, the property value totalled approximately SEK 171 billion, 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.
 
Beyond expectations.
www.castellum.se

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 above, at 2023-07-14 08:00 CEST.

Attachments
Castellum Half Year Report January June 2023

© Modular Finance, source Nordic Press Releases