GÖTEBORG, Sweden, Oct. 18, 2019 /PRNewswire/ --
"We have 7% growth in income from property management despite the sales concluded this year. Our markets are strong and driven by greater demand than supply, which creates potential for renegotiations in which, so far this year, we have renegotiated our leases upwards by 18%. This, together with the annual index adjustments, has created an increase of 5% in the rental value of the portfolio," says Henrik Saxborn, CEO of Castellum AB.
"We can also state that the level of gross leasing remains on a high level, and to some extent the negative net leasing should be regarded as an effect of timing, due primarily to a few major notices of termination. Moreover, Castellum's financial position is stronger than ever; the loan-to-value ratio remains at 44% and our investor base has expanded," says Saxborn.
Enclosure: Interim report January-September 2019
This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse. The information was submitted for publication, through the agency of the contact persons set out below, at 8:00 a.m. CET on October 18, 2019.
For further information contact:
Henrik Saxborn
CEO
Castellum AB
+ 46 (0)31-60-74-50
Ulrika Danielsson
CFO
Castellum AB
+46 (0)706-47-12-61
About Castellum
is one of the largest listed real estate companies in Sweden. Property values amount to SEK 92.7 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.2 million square metres. The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities in Sweden and also in Copenhagen and Helsinki. In 2019, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues. The Castellum share is listed on Nasdaq Stockholm Large Cap. For further information visit www.castellum.com.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Castellum Interim Report January-September 2019 | |
https://mb.cision.com/Public/8364/2935458/bfeecfb6fbe559ed.pdf | Press release 191018 |
SOURCE Castellum
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