2018 Annual Report

Castellum is one of the largest listed real-estate companies in Sweden. Castellum’s property portfolio consists primarily of premises for offices and warehouse/logistics. Every day more than 250,000 people go to work at our properties. We operate through a decentralized organization with a strong local presence in some 20 cities around Sweden, as well as in Copenhagen and Helsinki. In addition, Castellum is one of Sweden’s largest property developers, with a clear focus on sustainability and innovation as well as creating long-term shareholder value.


Focus 2018

This year, we want to highlight three themes: how we created shareholder value, how we pursued innovation and digitalization, and how we continued to deliver world-class sustainability. Click on the links under the different subjects to read more.

How we created shareholder value in 2018

In 2018, Castellum increased:

  • Income from property management with 17%
  • Net asset value with 15%
  • The proposed dividend with 15%
  • The total return during the year (exchange rate fluctuation + dividend) totalled 22.3%
How we pursued digitalization and innovation in our industry
  • Co-working at Castellum –how it works
  • Next20, the property industry’s first development lab
  • Beambox, Castellum’s first service for consumers
How we continued to deliver world-class sustainability
  • Castellum’s agenda — the sustainable city
  • Castellum has received several sustainability awards during the year
  • Get to know Elias, one of Castellum’s apprentices
2018 results
Growth in income from property management (SEK/share)
Proposed dividend per share (SEK)
EPRA NAV (SEK/share)
Number of customers
CEO's comment

On our way! Where are we headed?

“Where 2018 is concerned, we must be satisfied — as mentioned above, we feel that Castellum is on the right track — and shareholder value has been created. A record strong quarter concluded the year.”

Henrik Saxborn, CEO

The Castellum Spirit
  • Personal
  • Passionate
  • Proactive
  • Reliable
Business Idea

We create successful and sustainable workplaces in Nordic growth regions by really keeping close to customers, while staying on the cutting edge of innovation and enterprise.


Beyond expectations.

Castellum goes a step further, advancing innovation and one-of-a-kind solutions.




Creating workplaces where people and enterprises thrive.
Castellum promotes and creates successful workplaces, and offers new ways of working.

Business Model


Investment and developmentof commercial premises managed in a decentralized and customer-focused organization.Castellum focuses oncash flow and operates with low financial risk.


Overall Objective

  • 10% annual growth ofincome from property management in SEK/share
  • Performance: 17% annual growth of income from property management in SEK/share
How Castellum creates customer value

Most of Castellum’s around 400 employees meet our customers daily, and our decentralized approach means we can really work close to our customers. Our size permits us to have a broad offering regardless of whether it’s an international e-commerce player looking to establish itself at strategic logistics locations or a small architectural firm looking for premises for creative heights. Quite simply, we are creating successful workplaces that enable our customers to reach their business goals.

Logistics like clockwork at CapTech
How Castellum creates value for our customers
Development portfolio

In 2018 investments in new construction, expansions and reconstructions totaled MSEK 5,292.

Backa 20:5
New development, car retail
Balltorp 1:124
New development, logistics
New development, office
Generatorn 1
New development, office/warehouse
Hisingen logistikpark, etapp 1
New development, logistics
Hisingen logistikpark, etapp 2
New development, logistics
Masthugget 26:1
New development, office
Nya Domstolsverket
New development, office
Olaus Petri 3:244
New development, office
Rosersberg 11:130
New development, office
Sabbatsberg 24
New development, office
Smygmaskan 1
New development, office
Spejaren 4
New development, warehouse/logistics
Spiran 12
Redevelopment, office
Söderhällby 2:1
New development, logistics
New development, office
Tibble 1:647
New development, warehouse/logistics
Varpen 11
New development, car retail
Örnäs 1:17
New development, warehouse/logistics
The most sustainable property company in the Nordic region

Sustainability initiatives at Castellum are integrated into our operations, marking our actions, property management and development as well as customer relationships, employees and financing. We are convinced that our investments in sustainability will create greater profitability, and thus shareholder value for our shareholders.

The share



Strong yield at low risk 
Castellum’s goal is for the company’s share over the long term to yield a competitive return in relation to risk, and to have a high level of liquidity. The risk level should be lower than the industry average. All actions are based on a long-term perspective and the company presents frequent, open, true and fair financial statements to shareholders, capital and credit markets, and the media that facilitate external assessment and evaluation of the company. Castellum has a goal of 10% yearly growth in income from property management. In 2018, this increased 17%; over the last 10 years the annual increase totaled 8%.


Clear dividend policy
At least 50% of income from property management is distributed to shareholders, taking into account investment plans, consolidation needs, liquidity and the company’s position in general. This means that over time, the dividend will increase approximately in pace with income from property management. For 2018, the Board proposes an increased dividend for the 21st year in a row of 15% at SEK 6.10 per share, to be paid in two equal payments of SEK 3.05 each.


Corporate Governance

Proper governance is the foundation for a relationship of trust for shareholders and other importantstakeholders in the company’s business environment. Governance is an important component in managing Castellum sustainably and responsibly — all in accordance with the applicable laws, other rules and best practices, and customized based on Castellum’s operations.

Charlotte Strömberg, Chairman of the Board

More about Castellum’s Corporate Governance

  • Overall structure for Corporate Governance
  • Annual General Meeting
  • Election Committee
  • Auditor
  • Board of Directors and committees
  • Executive Group Management
  • Compliance and internal control



Financial reports

View Castellum’s financial reporting and earnings, as well as the 2018 Sustainability Report