Year-end report 2022

28 per cent growth in property management

• Income for the year totalled SEK 8,996 M (6,353), and income for the quarter amounted to SEK 2,264 M (1,916).
   
• Net lettings for the year totalled SEK 161 M (162), while net lettings for the quarter totalled SEK 8 M (45).
   
• Income from property management totalled SEK 4,510 M (3,522), corresponding to SEK 13.63 per share (12.45) and an increase of 9.5 per cent. Income from property management for the quarter totalled SEK 912 M (1,019), corresponding to SEK 2.78 per share (3.29).
   
• Changes in value on properties amounted to SEK -3,537 M corresponding to 2 per cent (SEK 7,185 M).
   
• For the fourth quarter, changes in value on properties amounted to SEK -6,394 M, corresponding to 4 per cent.
   
• Net income for the year amounted to SEK 1,750 M (11,828), corresponding to SEK 5.29 (41.81) per share.
   
• Long-term net reinstatement value (EPRA NRV) amounted to SEK 242 per share (251).
   
• After new construction, extensions and reconstructions totalling SEK 5,548 M (3,799) in existing portfolios, acquisitions of SEK 363 M (56,147) and divestments of SEK -3,080 M (-17,228), net investments for the year totalled SEK 2,831 M (42,718) for the year.
   

 

“The Nordic property market was heavily impacted in 2022 by high levels of inflation, rapidly rising interest rates, a cautious bond market, and an economic slowdown. At the same time, the rental market and demand for offices and warehouse/logistics properties were strong, and Castellum delivered increased net lettings for the twelfth consecutive quarter. The acquisition of Kungsleden led to an increase in earnings capacity and contributed 28 per cent growth in income from property management for 2022. The prospects for 2023, however, are divided, and we will face the challenges ahead with humility. Operationally speaking, Castellum’s properties and projects are moving along at a good pace while the finance market is marked by continued uncertainty,” says Joacim Sjöberg, acting CEO of Castellum AB.

 

Attachment: Year-end report 2022

 

This disclosure contains information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons on 13 February 2023 at 8:00 am CET.

 

 

For further information, please contact:

Joacim Sjöberg, acting CEO, Castellum AB, +46 76-853 98 19
Jens Andersson, Head of Treasury, Castellum AB, +46 76-855 67 02

 

 

About Castellum

Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 31 December 2022, the property value totalled approximately SEK 181 billion, including the ownership share of the Norwegian company Entra ASA. We are active in attractive Nordic growth regions. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.

 

Beyond expectations.
www.castellum.se

 

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