“In the wake of the struggle against inflation, we are seeing a more hesitant rental market. However, Castellum’s net leasing was positive during the quarter, income from property management increased by 13.2 per cent and net operating income by 5.3 per cent. We are prepared for a tougher rental market and have the financial muscle to offset fluctuations in the business cycle. Following the rights issue, profit generation and property sales, Castellum has repaid debt of just over
January–March 2024
- Income totalled
SEK 2,449 M (2,451). In the like-for-like portfolio, rental income increased 2.9 percent (10.7) . - New leases have been concluded for 64,000 square metres (69,000) and an annual rent of
SEK 128 M (131). Net leasing totalledSEK 3 M (-52) for the period andSEK -12 M (84) for the last 12 months. - Net operating income totalled
SEK 1,618 M (1,536), corresponding to an increase of 5.3 per cent. - Income from property management totalled
SEK 1,148 M (1,014), corresponding to an increase of 13.2 per cent. - Net investment totalled
SEK 235 M (413), of whichSEK 448 M (708) pertains to new construction, extensions and reconstructions,SEK 33 M (6) to acquisitions andSEK -246 M (-301) to sales. - Changes in value of investment properties for the period totalled
SEK -1,019 M (-5,968), corresponding to -0.7 percent (-3.9) . The value of the property portfolio amounted toSEK 137.2 Bn (137.6) at the end of the period. - The loan-to-value ratio was 38.2 per
cent (37.4) . - The interest coverage ratio for the latest twelve-month period was 3.2 (3.4) and interest-rate hedging was applied to 64 per
cent (73) of the loan portfolio at the end of the period.
Annex: Interim report January–March 2024
For further information, please contact:
Joacim Sjöberg, Chief Executive Officer,
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