Castellum's half-year report, January-June 2021

Rhea-AI Summary

Castellum reported strong results for the first half of 2021, with total income of MSEK 2,936, slightly down from MSEK 2,999 in 2020. Income from property management decreased to MSEK 1,615, while net income surged to MSEK 5,550, representing a substantial increase from MSEK 1,534. Changes in property values reached MSEK 3,122, and net investments totaled MSEK -8,986. The long-term net reinstatement value rose by 14% to SEK 227 per share. CEO Henrik Saxborn emphasized Castellum's robust earnings and investment strategy in the Nordic property sector.

Positive

• Net income for the period rose significantly to MSEK 5,550 from MSEK 1,534.
• Changes in property values increased dramatically to MSEK 3,122 from MSEK 418.
• Long-term net reinstatement value (EPRA NRV) grew by 14% to SEK 227 per share.

Negative

• Total income fell to MSEK 2,936 from MSEK 2,999.
• Income from property management declined to MSEK 1,615, down 5% from MSEK 1,689.
• Net lettings decreased to MSEK 66 from MSEK 200.

GOTHENBURG, Sweden, July 15, 2021 /PRNewswire/ --

Strong half-year and increased pace of investment

• Income for the period January–June 2021 totalled MSEK 2,936 (2,999).
• Income from property management amounted to MSEK 1,615 (1,689), equivalent to SEK 5.88 (6.18) per share – a decrease of 5%.
• Changes in value on properties amounted to MSEK 3,122 (418) and on derivatives to MSEK 117 (–209).
• Net income for the period amounted to MSEK 5,550 (1,534), corresponding to SEK 20.20 (5.62) per share.
• Long-term net reinstatement value (EPRA NRV) amounted to SEK 227 per share (199), an increase of 14%.
• Net investments amounted to MSEK –8,986 (1,378) of which MSEK 335 (292) pertained to acquisitions, MSEK 1,679 (1,205) to new construction, extensions and reconstructions, and MSEK 11,000 (119) to sales.
• Net lettings for the period were MSEK 66 (200).

"We have had one of the strongest half-year earnings in the company's history. Moreover, investments during the year have consolidated Castellum's position as a Nordic platform and made the company an interesting investment option in offices and logistics in the Nordic region. We have both the competence and financial capacity for growth moving forward, and contribute to risk diversification, sustainability and a high degree of liquidity in an international property portfolio," says Henrik Saxborn, CEO of Castellum AB.

Attachment: Half-year report, January–June 2021

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 below, at 8:00 a.m. CEST on 15 July 2021.

For more information please contact:

Henrik Saxborn, CEO Castellum AB, phone: +46 706-94 74 50

Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61

About Castellum

Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 97 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million sq.m. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.

Beyond expectations.

www.castellum.se

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/castellum/r/strong-half-year-and-increased-pace-of-investment,c3380149

The following files are available for download:

https://mb.cision.com/Main/8364/3380149/1445096.pdf	Castellum_Half-year_report_Jan-June 2021
https://mb.cision.com/Public/8364/3380149/9ee94a4d95520326.pdf	Press release 210715

View original content:https://www.prnewswire.com/news-releases/castellums-half-year-report-january-june-2021-301334404.html

SOURCE Castellum

FAQ

What were Castellum's total income figures for January-June 2021?

Castellum's total income for the period was MSEK 2,936, down from MSEK 2,999 in 2020.

How much did Castellum's net income increase in the first half of 2021?

Net income for Castellum rose significantly to MSEK 5,550 from MSEK 1,534 in the same period last year.

What was the change in property values for Castellum in 2021?

Castellum reported changes in property values of MSEK 3,122 for the first half of 2021.

What is Castellum's long-term net reinstatement value as of June 2021?

As of June 2021, Castellum's long-term net reinstatement value (EPRA NRV) was SEK 227 per share.

How did Castellum's income from property management change in 2021?

Income from property management decreased to MSEK 1,615 in the first half of 2021, down 5% from MSEK 1,689.