Interim Report January - June: Strong cash flow enables development
8 July 2019, 8.00 a.m
- Rental income increased by 11 percent to SEK 585.0 million (527.5).
- The net operating surplus increased by 15 percent to SEK 455.1 million (396.6).
- Profit from property management increased by 16 percent to SEK 317.9 million (274.2).
- Profit for the period increased to SEK 507.5 million (371.2), corresponding to earnings per share of SEK 13.46 (9.92), including changes in value of SEK 324.6 million (108.9).
- Net asset value per share, EPRA NAV, increased to SEK 182.01 (156.40).
An increase in profit from property management by 16 percent generates a capacity to continue strengthening Catena’s position through further investment and active project development.
- Catena is growing through project development, both by establishing new strategic logistic positions and by refining and developing existing properties. With our 110 logistic facilities, we perceive continuous potential to adapt and refine the conditions of each property, says Benny Thögersen, CEO at Catena.
- The remaining investment volume in our ongoing project portfolio is SEK 600 million in new and existing properties and we are experiencing pressure from continued high demand. The market conditions for logistics space are good, and this is evident in the disscussions we are conducting, says Benny Thögersen, CEO at Catena.
At 10:00 a.m. on 8th July, the webcast will commence for the interim report for January-June 2019.
Follow the webcast via this link https://tv.streamfabriken.com/catena-fastigheter-q2-2019
Dial-in: Sweden: +46850558356, UK: +443333009267, US: +18335268347
For further information, please contact:
Benny Thögersen, CEO
Tel. +46 706-60 83 50
Peter Andersson, Deputy CEO and CFO
Tel. +46 730-70 22 44
Catena’s objective is to own, efficiently manage and actively develop well-situated properties that have the potential to generate steadily growing cash flow and good growth in value. Catena’s overriding goal, based on its focused orientation, is to give shareholders a favourable long-term total return. The properties had a total value of SEK 15,570.4 million as of 30 June 2019. Catena AB is listed on the NASDAQ Stockholm exchange.
This information is such that Catena AB (publ) is obliged to publish under the EU Market Abuse Regulation and the Securities Markets Act. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.