Half-year report January-June 2026: SEK 24 Bn in divestments

“During the year, we have signed agreements covering the divestment of properties totalling approximately SEK 24 Bn. The mandate from our shareholders is crystal clear: Increase Castellum’s profitability, therefore we cannot own properties that are not expected to generate a sufficiently high return. That would not be fair to our shareholders”, says Pål Ahlsén, Chief Executive Officer, Castellum.

January–June 2026

• Income totalled SEK 4,741 M (4,789). In the like-for-like portfolio, the change in rental income was –2.0 per cent (0.1), excluding currency effects.
• Net operating income (NOI) totalled SEK 3,215 M (3,206). Net operating income in the like-for-like portfolio decreased 4.8 per cent (−2.8), excluding currency effects.
• Income from property management totalled SEK 2,301 M (2,222), a change of 3.6 per cent (−8.7).
• Changes in value of investment properties totalled SEK 269 M (−1,168), corresponding to 0.2 per cent (−0.9). The value of the property portfolio amounted to SEK 133.9 Bn (137.0) at the end of the period.
• Net income after tax for the period totalled SEK 1,933 M (191), corresponding to SEK 4.07 (0.39) per share before and after dilution.
• New leases were concluded for 202,000 square metres (185,000) with an annual rent of SEK 576 M (389). Net leasing totalled SEK 110 M (−182) for the period and SEK 152 M (−175) for the last 12 months.
• Net investments totalled SEK −3,598 M (2,823), of which SEK 1,968 M (1,288) pertains to investments in existing properties, SEK 0 M (1,700) to acquisitions, SEK −5,566 M (−1,550) to divestments.
• Investments in associated companies and joint ventures totalled SEK — M (836).
• The loan-to-value ratio was 37.3 per cent (36.5).
• The interest coverage ratio for the latest twelve-month period was 3.2 (3.2) and interest-rate hedging (more than 1 year) was applied to 57 per cent (68) of the loan portfolio at the end of the period.

April–June 2026

• Income totalled SEK 2,420 M (2,403). In the like-for-like portfolio, the change in rental income was –2.0 per cent (0.4), excluding currency effects.
• Net operating income (NOI) totalled SEK 1,696 M (1,634). Net operating income in the like-for-like portfolio decreased 3.7 per cent (−2.8), excluding currency effects.
• Income from property management totalled SEK 1,222 M (1,158), a change of 5.5 per cent (−10.0).
• Changes in value of investment properties totalled SEK −147 M (−800), corresponding to −0.1 per cent (−0.6).
• Net income after tax for the period totalled SEK 634 M (189), corresponding to SEK 1.37 (0.38) per share before and after dilution.
• New leases were concluded for 105,000 square metres (123,000) with an annual rent of SEK 305 M (252). Net leasing totalled SEK 28 M (2) for the period and SEK 152 M (−175) for the last 12 months.
• Net investments totalled SEK −4,277 M (2,465), of which SEK 1,082 M (790) pertained to investments in existing properties, SEK — M (1,681) to acquisitions and SEK −5,359 M (−6) to divestments.

Important events during the period

• Castellum signed an agreement to divest 95 properties in Skåne for SEK 13.3 Bn to Wihlborgs.
• Castellum signed an agreement to divest two properties in Stockholm for SEK 5.0 Bn to Alecta.
• Castellum has let a further 13,000 square metres to Ericsson in Hagastaden. Ericsson will not exercise its option to reduce the space in its previous lease agreement for the Infinity project.
• Castellum is ranked the world’s most sustainable real estate company by TIME Magazine.
• Two EMTN bonds have been redeemed early with a total volume of EUR 864 M.
• During the period, 39,019,694 shares were repurchased at an average price of SEK 116.88 per share, for a total of SEK 4,563 M.
• Castellum completed the cancellation of 15,075,097 own shares.

Presentation of the report
Today at 9:00 am (CEST), CEO Pål Ahlsén and CFO Christoffer Strömbäck will present the report. Follow the presentation via this link: https://castellum.events.inderes.com/q2-report-2026/register

For further information, please contact:
Pål Ahlsén, Chief Executive Officer, Castellum AB, +46 76 807 97 02
Christoffer Strömbäck, CFO, Castellum AB, +46 70 249 72 55

About Castellum
Castellum is a Swedish property company that owns, manages, and develops commercial properties in growth cities. As of 30 June 2026, the property value amounted to approximately SEK 134 Bn. The company is listed on Nasdaq Stockholm Large Cap and is classified as green under the Green Equity Designation. Castellum is the only Swedish property company included in the Dow Jones Sustainability Indices (DJSI).
 
Beyond expectations.
www.castellum.com

This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-15 08:00 CEST.