Continued growth in Castellum's income from property management (SE)

Rental income for the period January - September 2007 amounted to SEK 1,669 mln. (approx. €168 mln.) compared to SEK 1,488 mln. in the corresponding period in the previous year. Net income after tax for the period amounted to SEK 848 mln. (836 mln. last year), equivalent to SEK 5.17 (5.10) per share.

Net leasing has continued its strong trend during the period and amounted to SEK 93 mln. (77 mln.). The level of investments has remained high during the period and was SEK 2,093 mln. (1,545 mln.).

Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEK 698 mln. (662), equivalent to SEK 4.26 (4.04) per share. The improvement amounts to 5%.

During the period changes in value on properties and derivatives amounted to, respectively SEK 375 mln. (356) and SEK 104 mln. (119). Net income for the period was SEK 848 mln. (836), equivalent to SEK 5.17 (5.10) per share.

During the period investments totalling SEK 2,093 mln. (1,545) were made, of which SEK 1,367 mln. (877) were acquisitions and SEK 726 mln. (668) new construction, extensions and refurbishment. Further, 3 (9) properties were sold for a total of SEK 35 mln. (179) which gave SEK 1 mln. (39) in realized result.

"Both the rental market in general as well as Castellum's net leasing continues strong and I am pleased to welcome 200 new customers since the turn of the year" comments Castellum's CEO, Håkan Hellström.

An election committee has been appointed in accordance to the Annual General Meeting's decision. The election committee is formed by: Lars Öhrstedt representing AFA Försäkring, Åsa Nisell representing Swedbank Robur, Lars-Åke Bokenberger representing AMF Pension and the Chairman of the Board Jan Kvarnström.

Source: Castellum

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