Castellum : Presentation Q1/2021

High activity in the portfolio

INTERIM REPORT JANUARY-MARCH

H E N R I K S A X B O R N , C E O

U L R I K A D A N I E L S S O N , C F O

Q1 in brief

• Strong result - SEK 4 billion in net income
• Transformation of the portfolio - sale with strong profit to book value and new developments started
• Resistant against the pandemic - limited effects
• Strong Nordic platform - investment capacity

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Income from property managment: MSEK 779, 2.82 SEK/share, -3%

EPRA NRV: 220 SEK/share, +14%

Net lettings: MSEK 40

Coworking: 3 new units, 9 units in total

Covid-19: Almost no impact

	MSEK
	Aquisitions	177
	New constructions, extensions
	and reconstructions	688
	Sales	-9,789
	Net investment	-9,014

Loan-to-value: 41%

Interest coverage ratio: 499%

Ned debt to ebidta: 11

JAN-MARCH

2 0 2 1

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EU taxonomy - preliminary guidance, 1st quarter 2021

					Share of property
MSEK	EPC A	EPC B	EPC C	Total	management
portfolio
Rental income	52	149	341	542	40%
Direct property costs	-10	-31	-75	-116	36%
of which
1. Operating costs	-5	-19	-46	-70	34%
2. Maintenance	-1	-2	-7	-10	33%
3. Property tax	-4	-10	-22	-36	41%
Net operating income	42	118	266	426	41%
Property value	3,184	9,853	21,943	34,980	38%
New construction, extensions and	9	12	61	82	24%
reconstructions
Lettable area, 1,000 sq. m.	128	413	930	1,471	41%
No. of properties	13	55	118	186	37%

Only preliminary data is presented to guide the market based on Castellum's current knowledge of which key metrics will govern investment properties.

Castellum

is one of the most sustainable property companies in Europe

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Income statement January-March 2021

MSEK	Jan-March 2021		Jan-March 2020
Rental income (fully let)	1,603	SEK 1,649/sq. m	1,576	SEK 1,516/sq. m.
Vacancies and incentives	-102	92.9%	-131	93.8%
			469/sq. m.		SEK 383/sq. m.
Property expenses	448	-402
Coworking net	-6		-5
Net operating income	1,019		1,038
Central administrative expenses	-38		-37
Net interest costs		-195	1.7%/1.9%	-200	1.9%/2.0%
Ground rent/leasing expenses		-7		-7
Income from property management		779	SEK 2.82/share	794	SEK 2.19/share
D:o growth		-3%		9%
Changes in value Properties		1,607		3
Changes in value on financial assets		491		-
Changes in value Derivatives		19		-167
Tax		944		-148
Net income for the period		3,840	SEK 13.90/share	482	SEK 1.76/share

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