GÖTEBORG, Sweden, Apr 16, 2008 - (ABN Newswire) - * Rental income for the period January - March 2008 amounted to SEKm 605 (SEKm 542 corresponding period previous year).
* Net income after tax for the period amounted to SEKm 9 (190), equivalent to SEK 0.05 (1.16) per share.
* Income from property management improved by 9% to SEKm 225 (206), equivalent to SEK 1.37 (1.26) per share.
Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 225 (206), equivalent to SEK 1.37 (1.26) per share. The improvement is 9% and is due to higher rental income and the effect of investments made but has also been limited by increased interest rate costs.
During the period changes in value on properties and derivatives amounted to, respectively SEKm - 171 (33) and SEKm - 44 (22). Net income for the period was SEKm 9 (190), equivalent to SEK 0.05 (1.16) per share.
During the period investments totalling SEKm 415 (894) were made, of which SEKm 302 (227) were new construction, extensions and refurbishment and SEKm 113 (667) acquisitions.
"The growth in cash flows from property management has been good, despite increased interest rates" comments Castellum's CEO, Håkan Hellström ."The long term trend of increasing prices on commercial properties seems to be broken" adds Håkan Hellström.
Enclosure: Interim Report January - March 2008
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 28 billion, and comprises commercial properties. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland. Castellum is listed on OMX Nordic Exchange in Stockholm.
For further information, please contact Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56 Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile + 46 706-47 12 61
Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
LINK: http://hugin.info/1042/R/1209793/250163.pdf
Copyright © Hugin AS 2008. All rights reserved.
Castellum AB (publ)
http://www.castellum.se
ISIN: SE0000379190
Stock Identifier: XOME.CAST
* Net income after tax for the period amounted to SEKm 9 (190), equivalent to SEK 0.05 (1.16) per share.
* Income from property management improved by 9% to SEKm 225 (206), equivalent to SEK 1.37 (1.26) per share.
Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 225 (206), equivalent to SEK 1.37 (1.26) per share. The improvement is 9% and is due to higher rental income and the effect of investments made but has also been limited by increased interest rate costs.
During the period changes in value on properties and derivatives amounted to, respectively SEKm - 171 (33) and SEKm - 44 (22). Net income for the period was SEKm 9 (190), equivalent to SEK 0.05 (1.16) per share.
During the period investments totalling SEKm 415 (894) were made, of which SEKm 302 (227) were new construction, extensions and refurbishment and SEKm 113 (667) acquisitions.
"The growth in cash flows from property management has been good, despite increased interest rates" comments Castellum's CEO, Håkan Hellström ."The long term trend of increasing prices on commercial properties seems to be broken" adds Håkan Hellström.
Enclosure: Interim Report January - March 2008
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 28 billion, and comprises commercial properties. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland. Castellum is listed on OMX Nordic Exchange in Stockholm.
For further information, please contact Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56 Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile + 46 706-47 12 61
Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
LINK: http://hugin.info/1042/R/1209793/250163.pdf
Copyright © Hugin AS 2008. All rights reserved.
Castellum AB (publ)
http://www.castellum.se
ISIN: SE0000379190
Stock Identifier: XOME.CAST
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