January–March:

• Income for the period totalled SEK 2,470 M (2,193). In the like-for-like portfolio of the investment properties, rental income increased by 10.7 per cent (3.7).

• Income from property management totalled SEK 1,014 M (1,151), corresponding to SEK 3.09 per share (3.40).

• Changes in value on properties amounted to SEK -5,968 M (442) and on derivatives to SEK -87 M (1,366).

• The total lease value of all leases at 31 March 2023 was SEK 9,588 M (8,218).

• Occupancy rate (average for the quarter) 93.4 per cent (93.6).

• Divestments amounts to SEK 301 M (2,302).

CEO Joacim Sjöberg comments:

“During the quarter, total income increased by 12.6 per cent, which indicates good ability to pay among our tenants on the basis of the indexed rents. Castellum had temporary cost increases on electricity in the quarter that will fall back to market-based prices in the next quarter. Moreover, interest expenses continue to rise. Despite that, net operating income increased by 9.3 per cent. With its quality assets in Nordic sub-markets with strong growth and stable cash flows from a cross-section of Swedish business and the public sector, Castellum has the ability to withstand a slow business cycle. This, together with solid, lengthy bank relationships and an experienced organisation, will be stabilising factors in difficult times.”