Catella AB – Interim Report January-September 2018

Income increased by 3% to SEK 472 M, while operating profit decreased by 18% to SEK 90 M year-on-year in continuing operations. The decrease in operating profit was mainly due to lower variable earnings from managing the funds in the Equity, Hedge and Fixed Income Funds operating segment. The Catella Group’s assets under management continued to increase and were up by SEK 28.5 Bn year-on-year, with growth of SEK 3.3 Bn in the third quarter 2018.

THIRD QUARTER 2018

• Total income SEK 472 M (457)
• Net sales SEK 465 M (455)
• Operating profit SEK 90 M (109)
• Profit/loss before tax SEK 75 M (111)
• Profit for the period from remaining operations SEK 50 M (84)
• Profit for the period SEK 12 M (84), of which attributable to parent company shareholders SEK -13 M (59)
• Earnings per share* SEK -0.16 (0.72)

NINE-MONTH PERIOD 2018

• Total income SEK 1,518 M (1,324)
• Net sales SEK 1,473 M (1,320)
• Operating profit SEK 292 M (244)
• Profit/loss before tax SEK 275 M (257)
• Profit for the period from remaining operations SEK 188 M (191)
• Profit for the period SEK 92 M (198), of which attributable to parent company shareholders SEK 21 M (125)
• Earnings per share* SEK 0.26 (1.53)
• Equity* SEK 1,579 M (1,628)
• Equity per share* SEK 18.77 (19.89)
• Accrued, non-chargeable (not recognized for profit), variable earnings** in Systematic Funds totalled SEK 0 M at the end of the period.

In October 2018, Catella Bank signed an agreement regarding the transfer of assets and liabilities in connection with the di-vestment of Catella’s Wealth Management operations in Luxembourg. The Swedish Wealth Management and card issuing operations are not included in the transac-tion, and the strategic review of these operations continues.

As the Wealth Management operations in Luxembourg comprise a significant proportion of Catella Bank, the Banking business area has been reported as a Dis-posal group held for sale in accordance with IFRS 5. This means that Banking’s net profit (after tax) has been reported on a separate line under Profit for the period from disposal group held for sale in the Consolidated Income Statement.

Comparative figures for previous years for the Banking business area have been reported in a corresponding manner in the Consolidated Income Statement.

* Attributable to parent company shareholders. Includes Disposal group held for sale (Banking).
** Accrued, non-chargeable (not recognised for profit), 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 recognized for profit/loss, returns must be higher than comparative indices and the most recent level settled (High water-mark). Accordingly, actual settlement at year end may be higher, lower or entirely absent relative to the indicated amount. Amounts can never fall below zero.

For more information, please contact:
Knut Pedersen
CEO and President
+46 8 463 33 10
knut.pedersen@catella.se

Marcus Holmstrand
CFO
+46 8-463 33 10
marcus.holmstrand@catella.se

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 CET on 15 November 2018.  

About Catella: Catella is a leading specialist in property investments and advisory and fund management, with operations in 14 countries. The group manages assets of SEK 200 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.

Tags: