Castellum: Half-year report, January-June 2022

Rhea-AI Summary

Castellum AB reported a strong half-year performance for January to June 2022, achieving an income of SEK 4,400 M, marking 47% growth in property management income to SEK 2,375 M. Net income rose to SEK 6,933 M, translating to SEK 20.80 per share. The long-term net reinstatement value increased by 16% to SEK 263 per share. The company invested SEK 2,678 M in its portfolio, with a total property value of SEK 185 billion. Castellum maintains a loan-to-value ratio of 38.2%, indicating financial stability in a challenging market.

Positive

• 47% growth in property management income to SEK 2,375 M.
• Net income increased to SEK 6,933 M, SEK 20.80 per share.
• Long-term net reinstatement value rose 16% to SEK 263 per share.
• Total property portfolio valued at SEK 185 billion.

Negative

• Change in value on properties decreased to SEK 2,812 M from 3,122 M.

GOTHENBURG, Sweden, July 15, 2022 /PRNewswire/ -- 

Strong six months with 47 per cent growth in income from property management, despite turbulence in the world

• Income SEK 4,400 M (2,936).
• Income from property management: SEK 2,375 M (1,615), corresponding to SEK 7.13 per share (5.88).
• Change in value on properties: SEK 2,812 M (3,122) and derivatives SEK 2,470 M (117).
• Net income for the period: SEK 6,933 M (5,550), corresponding to SEK 20.80 (20.20) per share.
• Long-term net reinstatement value (EPRA NRV): SEK 263 per share (227), an increase of 16 per cent.
• After investments totalling SEK 2,678 M (1,679) in existing portfolios, acquisitions of SEK 147 M (335) and sales of SEK 2,448 M (10,453) the total property portfolio amounts to SEK 185 billion.
• Net lettings for the period: SEK 109 M (66).

"Despite turbulence in our sector this first half of the year, we see a continued strong rental market with positive net lettings. With a loan-to-value ratio of 38.2 percent and financial muscles in terms of already negotiated bank loans that cover all maturities over the next 2 years, as well as a core business with a strong and stable cash flow, Castellum is well equipped to face a tougher financial market," says Rutger Arnhult, CEO of Castellum AB.

Attachment: Half-year report, January–June 2022

For further information, please contact:

Rutger Arnhult, CEO Castellum AB, +46 704-58 24 70
Maria Strandberg, CFO Castellum AB, +46 70-398 23 80

This disclosure contains information that Castellum AB is obligated to make public pursuant to the EU Market Abuse Regulation and the Swedish Security Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CEST on 15 July 2022. 

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 2022, the property value totalled approximately SEK 185 Bn, 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

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http://news.cision.comhttps://news.cision.com/castellum/r/half-year-report--january-june-2022,c3590382

The following files are available for download:

https://mb.cision.com/Main/8364/3590382/1604719.pdf	Castellum half-year report January-June 2022
https://mb.cision.com/Public/8364/3590382/aabcb3c20f27561a.pdf	Press release Castellum half-year report January-June 2022

View original content:https://www.prnewswire.com/news-releases/castellum-half-year-report-januaryjune-2022-301587305.html

SOURCE Castellum

FAQ

What did Castellum report for income in the first half of 2022?

Castellum reported an income of SEK 4,400 M for the first half of 2022.

How much did Castellum earn from property management in the first half of 2022?

Castellum earned SEK 2,375 M from property management in the first half of 2022.

What was Castellum's net income for January to June 2022?

The net income for Castellum was SEK 6,933 M, equivalent to SEK 20.80 per share.

What is the long-term net reinstatement value of Castellum per share?

The long-term net reinstatement value of Castellum is SEK 263 per share.

What is Castellum's total property portfolio value?

Castellum's total property portfolio is valued at SEK 185 billion.