The following is a summary of the Castellum AB (Publ) (CWQXF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Net operating income has increased by 3.9% since the beginning of the year.

• Income from property management experienced an 11.7% rise compared to the same period last year.

• The divestments of non-core assets have a negative impact on the revenue, mitigated by reduced property costs, lower administrative costs, and reduced interest costs due to a lower debt volume.

Business Progress:

• Castellum continues to streamline its portfolio by selling non-strategic assets and investing the proceeds in new projects.

• They have reached their target of 100 solar panel systems two years ahead of schedule and now aim to install an additional 100 by 2030.

• Developing new projects including logistics facilities and a new hotel.

• Focused on increasing operational efficiency through cost reductions including administrative expenses and direct property costs.

Opportunities:

• Moody's upgrade to a positive outlook and re-entry into the Eurobond market as well as high demand for Castellum bonds reflect strong market confidence and financial stability, providing opportunities to explore new bond issues.

• Continued investments in renewable energy and achieving sustainability targets ahead of schedule underline the opportunity to strengthen market positioning as an environmentally responsible entity.

Risks:

• Negative net leasing after two quarters of positive results, emphasizing volatility in leasing performance which could impact future earnings.

• CEO mentions economic occupancy rate only down by 0.1 point, however, acknowledges pressure in metropolitan markets which could affect portfolio performance.

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