Catella AB - Interim Report January-March 2018
Total income increased by SEK 46 M to SEK 541 M, up 9%, mainly driven by Property Investment Management and Equity, Hedge and Fixed Income Funds. Profit was in line with the previous year despite revenue recognition of potential variable earnings in Systematic Macro being deferred to year end, in contrast with the previous quarterly and annual settlement. Accrued but not chargeable variable earnings in Systematic Macro totalled some SEK 125 M at the end of the quarter, which was not included in profit for the quarter. As previously announced, the client portfolio in the card acquiring operations is being reduced from this quarter onwards, which impacts the Banking operations’ profit negatively.
FIRST QUARTER 2018
- Total income SEK 541 M (495)
- Net sales SEK 510 M (493)
- Operating profit/loss SEK 60 M (66)
- Profit/loss before tax SEK 64 M (72)
- Profit for the period SEK 42 M (53), of which attributable to parent company shareholders SEK 22 M (33)
- Earnings per share* SEK 0.26 (0.41)
- Equity * SEK 1,626 M (1,597)
- Equity per share* SEK 19.86 (19.51)
- Accrued, not chargeable, variable earnings*** in Systematic Funds totalled SEK 125 M at the end of the period.
* Attributable to parent company shareholders.
** Adjusted for items affecting comparability.
*** Accrued variable earnings are calculated on the basis of Systematic Macros’ performance-based management fees. In order for the performance-based management fee to be settled at year end, and recognised for profit/loss, returned must be higher than comparative indices and the most recent level settled (High watermark). Accordingly, actual settlement at year end may be higher, lower or entirely absent relative to the indicated amount.
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This information is information that Catella AB 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 person set out above, at 07:00 a.m. CET on 9 May 2018.
Catella is a leading specialist in property investments, fund management and banking, with operations in 14 countries. The group manages assets of approximately SEK 180 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.