Skip to main contentSkip to navigationSkip to search
Logotype

Castellum 2021 in brief

Castellum's strategy

A strategy that creates value

Castellum’s strategy is based on three perspectives: the company, our customers, and the community. The focus is on further strengthening relations with priority customer segments, developing our service offering and improving our asset and development portfolios.

The company

Asset and development portfolio

  • Castellum will develop and manage an asset portfolio that supports targets set for growth in income from property management, thus creating shareholder value over time.
  • Castellum’s portfolio shift is continuously toward greater quality and density through new construction, extensions and reconstructions, acquisitions and sales in the Nordic growth markets.
  • The portfolio will constitute a property exposure alternative for Castellum’s shareholders. The portfolio turnover should be actively managed, with a net investment volume of approximately 5% per year.
  • Castellum will be a leading player in urban development, and the preferred choice of both municipalities and tenants when they are looking for a partner to develop new projects.

Goals and results

Strategic objective:
At least 5% of the property value in net investments per year, equivalent to approximately SEK 7.5 billion. 

Results 2021:
MSEK 42,718 (4,267) in net investment, corresponding to 41% of the property value, where MSEK 47,258 (—) pertained to business combinations, MSEK 8,889 (2,646) pertained to property acquisitions, MSEK 3,799 (2,512) to new construction, extensions and reconstructions, and MSEK 17,228 (891) to sales.

Financing

  •  Castellum must maintain a low level of financial risk; the chosen key ratios for risk are loan-to-value ratio and interest coverage ratio.
  • Castellum’s financing strategy will support the business operations and manage the Group’s financial risks while working for an open and transparent climate. The strategy will be reflected in the financial policy in order to ensure risk management through close monitoring.
  • Castellum’s financial strategy can be summarised by five cornerstones: diversification, liquidity, strength, transparency and flexibility.
  • 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.

Goals and results 

Strategic objective:
• Loan-to-value ratio – not to permanently exceed 50%.
•  Interest coverage ratio – at least 200%.
•  Dividend – at least 50% of pre-tax income from property management in dividend pay-outs.

Results 2021:
• The loan-to-value ratio amounted to 39% (41) as of 31 December 2021.
• The interest coverage ratio for 2021 was 517% (530).
• SEK 7.60 per share (6.90) in proposed dividends for 2021, equivalent to a payout ratio of 61% (56).


Employees

  • Castellum is to be an attractive employer with committed, motivated employees and managers, all of whom work towards the same goal, thereby meeting high expectations.
  • The company works actively to attract, recruit, develop and retain the right employees and managers.
  • Castellum is building a goal-oriented organisation in which its employees constantly challenge themselves and their colleagues to strengthen both the organisation and individuals.
  • The organisation continually strives to become better, clearer and more open as regards expectations, and sees constructive monitoring as a natural part of management and employeeship.

Goals and results 

Strategic objective:
High satisfaction index, eNPS (employee Net Promoter Score) and proportion of "promoters".

Results 2021:
43 (34) in eNPS (Employee Net Promoter Score) and 56% of employees are “promoters” of Castellum as an employer.

Customers

Existing and potential tenants

  • Castellum will offer existing and potential tenants premises, meeting spaces and services that are best suited for their objectives.
  • Castellum will be recognised as an innovative player in selected product and customer segments, by making clear investments in project development, system support, technological development and sustainability that strengthens our business.
  • Services, platforms and payment methods will be developed to meet our tenants’ needs and make it possible for them to find out about our services easily.
  • Castellum promotes long-term, close customer relationships, local presence and service that exceeds customer expectations.
  • Castellum’s tenants are found in all industries, in both private businesses and among various forms of public sector properties.
  • The company is to have a highly diversified customer base with a good risk spread as regards geographies, premises type, scope of contract and lease terms.

Goals and results

Strategic objectives:
• High customer satisfaction index (CSI).
• Largest to third largest property company in its respective locations.

Results 2021:
• 74 out of 100 in the latest CSI survey, conducted in 2021 (compared to 74 in the preceding year’s quarterly pulse survey).
• Castellum is the largest, second largest or third largest property company in 13 of the 25 cities in Sweden where the company was established in 2021.

Wider society

The sustainable city 2030

  • Over time, Castellum will be the most sustainable property company in Europe and will actively promote sustainable development.
  • Castellum is a responsible community developer that drives development forward.
  • Castellum’s sustainability goals should be integrated into business operations and yield tangible results.
  • Based on its sustainability strategy, “The sustainable city 2030”, Castellum conducts its operations responsibly and creates longterm solutions from an economic, ecological and social perspective. 

Goals and results

Selection of strategic objectives:
• Net-zero carbon emissions by 2030.
• 100% non-fossil fuel energy by 2030 at the latest.
• 22% reduction in energy consumption in 2025 compared with 2015.
• 50% of the asset portfolio (in sq. m.) will be environmentally certified by 2025.
• Gender equality in all occupational categories by 2025.

Results 2021:
• 77% (85) less carbon emissions in Scope 1 and 2 compared with 2007.
• 95% (95) non-fossil fuel energy.
• 11% (15) reduction in energy consumption per square metre compared with 2015.
• 48% (39) of the asset portfolio certified for sustainability.
• 43/57% (40/60) women/men throughout the Group.