Gothenburg 22 October, 2004

Castellum’s income from property management improved by 12%

Rental income for the period January-September 2004 amounted to SEKm 1,381 (SEKm 1,310 corresponding period previous year).

Net income after tax for the period amounted to SEKm 476 (428).

Earnings per share amounted to SEK 11.61 (10.44).

Income from property management improved by 12% to SEKm 461 equivalent to SEK 11.24 per share.

During the period 23 properties were sold for a total of SEKm 450 with a capital gain of SEKm 184.

Income from property management during the period, i.e. net income excluding capital gains from property sales, items affecting comparability and tax, amounted to SEKm 461 (412), equivalent to SEK 11.24 (10.05) per share, which is an improvement of 12 % compared with the same period 2003. The improvement has been achieved, mainly through lower interest rate levels.

During the period 23 properties were sold for a total of SEKm 450 (386) with a capital gain of SEKm 184 (179). Net income after tax for the period January-September amounts to SEKm 476 (428), equivalent to SEK11.61 per share (10.44). Investments during the period were SEKm 1,086 (723).


"The continued positive earnings trend in Castellum as well as the improvement in the overall economic activity is satisfying", comments CEO, Lars-Erik Jansson. "However, in order for the commercial rental market to speed up, higher employment rates are needed which has not yet been seen", adds Lars-Erik Jansson.

Enclosed: Interim Report January-September 2004

 



Castellum is one of the major listed real estate companies in Sweden. The book value of the real estate portfolio amounts to approx. SEK 15 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 Stockholmsbörsen’s O-list.


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