Interim Report January - June 2020: Flexibility and dialogue add value
7 July 2020, 8.00 a.m.
- Rental income increased by 6 percent to SEK 622.3 million (585.0).
- Net operating surplus increased by 10 percent to SEK 500.3 million (455.1).
- Profit from property management rose by 13 percent to SEK 358.5 million (317.9).
- Profit for the period decreased to SEK 323.5 million (507.5), corresponding to earnings per share of SEK 8.58 (13.46), including changes in value of SEK 52.8 million (324.6).
- Net asset value per share, EPRA NAV, increased to SEK 207.79 (182.01).
Catena delivers a good outcome for the second quarter of 2020 despite uncertainty in the market. A net operating surplus increasing by 10 percent is one of several factors contributing to continued future capacity.
"Although the market has been cautious, our perception is, at the same time, that efficient and sustainable logistics facilities remain in demand. In the discussions we are pursuing, issues of logisitics and functioning goods flows are more relevant than ever", says Catenas CEO Benny Thögersen.
"Clearly the demands imposed as circumstances change increase the pressure on many of our properties significantly. Against that background, the capacity of the entire logistics network has had to be adjusted within just a brief period. We and our tenants have been able to handle these fluctuations, largely thanks to the adaptability that we are pleased to incorporate into our properties from the outset", says Catenas CEO Benny Thögersen.
At 9.30 a.m. on July 7, the webcast will commence for the interim report for January-June 2020.
Follow the webcast via this link: https://tv.streamfabriken.com/catena-fastigheter-q2-2020
Dial-in: UK: +443333009260, US: +18338230587, Sweden: +46850558354
For further information, please contact
Benny Thögersen, CEO
Tel. +46 706-60 83 50
Sofie Bennsten, Deputy CEO and CFO
Tel. +46 730-70 22 41
Catena is a listed property company that, through collaboration sustainably develops, owns and manages efficient logistics facilities. Its strategically located properties supply the Scandinavian metropolitan areas and are adapted for both current and future goods flows. The overall objective is to generate strong cash flow, enabling stable development and providing shareholders a favourable total return in the long term. The properties had a total value of SEK 17,222.5 million as of 30 June 2020. Catena’s shares are traded on NASDAQ Stockholm, Mid Cap.
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.