Castellum Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended Dec. 31, 2017
January 25, 2018 at 12:50 pm IST
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Castellum reported consolidated earnings results for the fourth quarter and full year ended Dec. 31, 2017. For the full year, rental income was SEK 5,182 million against SEK 4,533 million previous year. Income from property management was SEK 2,530 million against SEK 2,065 a year ago, corresponding to SEK 9.26 against SEK 8.80 per share a year ago. Net income after tax was SEK 5,876 million against SEK 4,972 a year ago, corresponding to SEK 21.51 per share against SEK 21.20 per share a year ago. Net operating income was SEK 3,577 million against SEK 3,036 million a year ago. Rental levels have in comparable portfolio increased by approx. 3% compared with previous year, which inter alia is an effect from indexation and renegotiations carried out. Income before tax was SEK 7,312 million against SEK 5,722 million a year ago. Cash flow from operating activities was SEK 2,243 million against SEK 2,260 million a year ago. Property acquisitions was SEK 3,595 million against SEK 874 million a year ago. Return on equity was 20.6% against 20.1% a year ago.
For the quarter, rental income was SEK 1,316 million against SEK 1,367 million a year ago. Net operating income was SEK 846 million against SEK 860 million a year ago. Net income after tax was SEK 2,452 million against SEK 2,481 million a year ago. Income before tax was SEK 3,088 million against SEK 2,513 million a year ago. Income, per share was SEK 8.98 against SEK 9.08 a year ago. Cash flow from operating activities was SEK 863 million against SEK 597 million a year ago. Property acquisitions was SEK 143 million against SEK 478 million a year ago. Return on equity was 31.3% against 37.1% a year ago.
Castellum AB is a Sweden-based company active within the real estate sector. The Company is engaged in the acquisition, ownership, management and development of property on a long-term basis. The property portfolio of Castellum AB comprises commercial real estate, including offices, public sector properties, warehouses and logistics properties, retail properties and light industry properties, covering approximately 4.3 million square meters of total leasable area. The Company is also involved in the coworking and shared office space sector. Castellum AB operates in approximately 20 cities across Sweden, as well as in Copenhagen, Denmark and Helsinki, Finland.