Gothenburg, October 21, 2003

Earnings trend in Castellum continues positive

Rental income for the period January - September 2003 amounted to SEKm 1,310 (1,253).

Net income after tax for the period amounted to SEKm 428 (393).

Earnings per share amounted to SEK 10.44 (9.59).

Income from property management improved 7 % to SEKm 412 equivalent to SEK 10.05 per share.

During the period, 23 properties were sold for a total of SEKm 386 with a capital gain of SEKm 179.

Income from property management for the period, i.e. net income excluding capital gains from property sales, items affecting comparability and tax amounted to SEKm 412, equivalent to SEK 10.05 per share, which is an improvement of 7 % compared with the same period 2002. The improvement has been achieved, mainly through increased rental income, effects of investments and lower interest-rate levels.

During the period January-September, properties for a total of SEKm 386 (430) were sold with a capital gain of SEKm 179 (159). Net income after tax for the period amounts to SEKm 428 (393). Earnings per share were SEK 10.44 compared to SEK 9.59 for the corresponding period 2002. The investments for the period amounted to SEKm 723 compared with SEKm 756 during January-September 2002.

 

"Earnings trend in Castellum continues positive, despite the delayed improvement in the economy", comments Castellum’s CEO, Lars-Erik Jansson.


Enclosed: Interim Report January-September 2003
 

Castellum is one of the major listed real estate companies in Sweden. The book value of the real estate portfolio amounts to approx. SEK 14 billion, and comprises mainly commercial properties. The real estate portfolio is owned and managed by six subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Western Småland and Mälardalen. The Castellum share is listed on the Stockholmsbörsen O-list, Attract 40.

 

For further information, please contact
Lars-Erik Jansson, CEO, phone +46 31 60 74 00, mobile +46 705-92 06 70

Håkan Hellström, CFO/deputy CEO, phone +46 31 60 74 00, mobile +46 705-60 74 56