Catella AB - Interim Report third quarter 2012

Third quarter of 2012, July – September

• Net sales totalled SEK 221 M (195)
• Profit before tax excl items affecting comparability totalled SEK 5 M (-57)
• Items affecting comparability were SEK -34 M (0), deriving, as previously communicated, primarily from expenses for vacated premises in Luxembourg for the Asset Management operating segment
• Profit after tax was SEK -31 M (-60)
• Earnings per share amounted to SEK -0.38 (-0.73)
• Corporate Finance recognised net sales of SEK 100 M (77) and profit before tax of SEK 8 m (-8)
• Asset Management recognised net sales of SEK 124 M (119) and profit before tax excl items affecting comparability of SEK 4 M (-6)

First nine months of 2012, January – September

• Net sales totalled SEK 652 M (649)
• Profit before tax excl items affecting comparability totalled SEK 11 M (-50)
• Items affecting comparability were SEK -34 M (0)
• Profit after tax was SEK -28 M (-45)
• Earnings per share amounted to SEK -0.35 (-0.55)
• Corporate Finance recognised net sales of SEK 266 M (269) and profit before tax of SEK 0 M (-11).
• Asset Management recognised net sales of SEK 388 M (382) and profit before tax, excl items affecting comparability, of SEK 23 M (3).

CEO’s Comment

Catella’s two operating segments – Corporate Finance and Asset Management – concurrently posted year-on-year improvements in earnings for both the third quarter and for the first nine months of 2012.

The improvement in profit before tax in Corporate Finance for the quarter was SEK 15 M and for the first nine months SEK 11 M despite slowdowns in transaction volumes in the property sector.

Asset Management also posted improved operating earnings, excluding items affecting comparability. Since Asset Management includes lending activities, the unit should be assessed based on the sum total of earnings and net financial items, in which case, the operations as a whole posted a profit and an improved result. The year-on-year improvement in Asset Management was SEK 10 M for the quarter and SEK 20 M for the first nine months.

In the third quarter of 2012, efforts were focused on integrating Banque Invik in the Catella Group. A number of projects are in progress to launch Catella Bank as well as projects in the bank’s two operating areas – Bank Cards and Wealth Management – where business operations are being scaled up in parallel with the development of new working methods for granting credit. Cost-reducing measures are also under way.

Johan Ericsson, CEO Catella

For more information, please contact:
Johan Ericsson
Chief Executive Officer, Catella
+46 8 463 33 10

Press contact:
Viktoria Ejenäs
Communications Officer, Catella
+46 8 463 33 34, +46 72 726 33 34

About Catella: Catella offers specialised financial services and products within selected market segments. Catella has 440 employees in 12 European countries within two operating segments; Corporate Finance and Asset Management. Catella is listed on Nasdaq OMX, First North Premier and the share is 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.com.

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