- Rental income for the period January - March 2009 amounted to SEKm 669 (SEKm 605 corresponding period previous year). - Income from property management improved by 17% to SEKm 262 (225), equivalent to SEK 1.60 (1.37) per share. - The changes in value on properties amounted to SEKm -397 (-171) and on interest rate derivatives to SEKm -109 (-44). - Net income after tax for the period amounted to SEKm -177 (9), equivalent to SEK -1.08 (0.05) per share. - The investments amounted to SEKm 298 (415). - The total value of the properties amounted to SEKm 29,066 (29,165 at the end of previous year) with a loan to value ratio of 51% (50%). Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 262 (225), equivalent to SEK 1.60 (1.37) per share. The improvement is 17% and above all an effect of lower interest rates, but also higher rental incomes and investments made have had a positive effect. The net leasing amounted to SEKm -22 (25). During the period investments totalling SEKm 298 (415) were made. During the period, changes in value on properties and derivatives amounted to, respectively, SEKm -397 (-171) and SEKm -109 (-44)."The effect of the recession becomes more obvious with more terminations and continued write downs on the properties, but we also see lower interest rates" comments CEO Håkan Hellström. "The net income from operations, i.e. income from property management, has never been higher - over one billion on annual basis" adds Håkan Hellström.Enclosure: Interim Report January - March 2009 Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 29 billion, and comprises premises for office, retail, warehouse and industrial purposes. 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 NASDAQ OMX Stockholm AB Large Cap. 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 or visit www.castellum.se Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
Income from property management over one billion on annual basis but decreased net leasing
| Source: Castellum AB