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14 February 2012
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22 February 2012
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03-04 May 2012
Vienna, Austria
Sweden's Castellum swings to loss in 2008 on property valuations
Profit at Stockholm-listed Castellum, one of Sweden's major listed real estate companies, swung to a loss in 2008 driven largely by property and derivative devaluations, but property management income hit a high. Net income was in loss of SEK663m (e61.8m) after a profit in the prior year of SEK1.5bn (e139.8m). "This year's income from property management and cash-flow is the highest ever," said CEO Håkan Hellström. "The negative changes in value on properties and derivatives, however, cause Castellum to report a loss for the first time."