Interim Report 1 January – 30 June 2011 for Catella AB (publ)
Second quarter of 2011, April – June
- Net sales in the second quarter totalled SEK 212 M (-).
- Profit after tax for the period amounted to SEK 19 M (-8).
- Earnings per share for the Group’s total operations for the period was SEK 0.23 (-0.10).
- During the quarter, EKF Enskild Kapitalförvaltning AB was acquired and changed its business name to Catella Förmögenhetsförvaltning AB. The company was consolidated from 1 May, 2011 and thus has only contributed to sales and earnings for two months.
- Catella acquired the remaining 30 per cent of its subsidiary Catella Capital Intressenter AB, which is a holding company of Catella Fondförvaltning AB.
- Net sales in the first six months totalled SEK 350 M (-).
- Profit after tax for the period amounted to SEK 15 M (15).
- Earnings per share for the Group’s total operations for the period was SEK 0.18 (0.17).
First six months of 2011, January – June
- Net sales in the first six months totalled SEK 350 M (-).
- Profit after tax for the period amounted to SEK 15 M (15).
- Earnings per share for the Group’s total operations for the period was SEK 0.18 (0.17).
CEO’s Comment
Catella’s first six months of 2011 were characterized by a number of initiatives aimed at altering and strengthening the operations and focus of the Group.
Alongside establishing operations within corporate bonds, Catella has completed the acquisition of EKF Kapitalförvaltning, now Catella Förmögenhetsförvaltning. Additionally, Catella has contracted to acquire a minority share in the Swedish fund management to streamline its ownership structure. In parallel, a sales process was initiated in respect of Catella’s subsidiary in Luxembourg, Banque Invik. In the fall of 2011, work will continue on the implementation of the new operations and with the sale of Banque Invik, with the sale preferably completed before year-end.
Catella’s second quarter earnings were negatively impacted by the increasing concern in the financial markets during the last month of the quarter. Earnings were also charged with costs for start-ups and acquisitions amounting to SEK 5 M and a provision of SEK 3 M for a possible additional VAT cost.
The underlying operations of the Corporate Finance operating segment remain healthy with solid underlying project portfolios.
New fund products were launched during and after the period to advance Catella’s positions in Asset Management. Continued initiatives will be taken to further strengthen Catella as an Asset Manager.
In summary, Catella’s financial performance in the second quarter of 2011 was charged with start-up and acquisition costs, while the Group’s earnings in the final month of the quarter were impacted by turmoil in the financial markets.
For more information, please contact:
Johan Ericsson
Chief Executive Officer, Catella
+46 8 463 34 29, +46 73 654 74 50
Press contact:
Anne Rådestad
Head of Communications, Catella
+46 8 463 34 29, +46 73 654 74 50
About Catella: Catella is a European finance group active in Corporate Finance and Asset Management. In these operating segments, Catella focuses on selected segments in which advanced specialist expertise and local presence, combined with international reach, are key in creating added value for clients. Catella has approximately 440 employees working at offices in 24 cities in 13 European countries. Catella share is listed on First North Premier and traded under the abbreviations CAT A and CAT B. Remium AB is Catella’s Certified Adviser, 46 8 454 32 00. Read more about Catella at www.catella.se.
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