Castellum AB (OTCPK:CWQXF)

Q4 2024 Castellum AB Earnings Call Transcript

Feb 19, 2025 / 10:59 AM GMT

Release Date Price: $11.7

Transcript

Key Points

Positve

Castellum AB (FRA:TEX) has announced a new project in Stockholm called Infinity, which involves developing 20,000 square meters of top-class office space.
The company has acquired more shares in Entra, surpassing the 1/3 threshold, indicating a strong investment strategy.
Castellum AB (FRA:TEX) has received a new credit rating from S&P, complementing its existing Moody's rating, which is expected to improve financing opportunities.
The board has proposed a dividend of 2.48 kronor per share, marking a return to dividends after two years of focusing on balance sheet strengthening.
The company's net operating income is up by 3.4%, and income from property management has increased by 10.2%.

Negative

The changes in property value remain negative for the full year, with a decline of approximately 1%.
Higher vacancies and increased discounts have partially offset income growth, indicating challenges in maintaining occupancy.
The economic occupancy rate has only improved slightly by 0.3% during the quarter, suggesting ongoing challenges in tenant retention.
Property values have been written down by approximately 1.6 billion, equivalent to a 1.2% decrease.
The company faces challenges in some submarkets, with renegotiations showing a negative change in rent of 1%.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CAST.ST - Castellum AB
Q4 2024 Castellum AB Earnings Call
Feb 19, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to our presentation of the Q4 and the full year results for 2024. It is a crisp and clear winter morning today, but spring is around the corner and we can feel it.

So, as we have stated before, we are now, we now have the financial, strong position and are investing in attractive opportunities, both investing in the existing portfolio, product developments, and, acquisitions.

The last days we have been quite active and announced a couple of important transactions and events. I will briefly comment on them now and then we will talk more about them during the presentation.

Yesterday we announced that we are starting a new project in Stockholm. It's called Infinity, and it's located in Hagersadam.

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