Interim Report January - March 2019: Profit is generated every day
Catena shows a strong start to the year with a continued stable cash flow in the first quarter. Active project development over time and lower interest expenses are two factors that contribute to the strong profit.
25 April 2019, 2.45 p.m.
- Rental income increased by 12 percent to SEK 294.0 million (263.2).
- Net operating surplus increased by 16 percent to SEK 223.2 million (192.6).
- Profit from property management rose by 15 percent to SEK 155.9 million (135.9).
- Profit for the period increased to SEK 245.8 million (176.6), corresponding to earnings per share of SEK 6.52 (4.72), including changes in value of SEK 157.4 million (86.8).
- Net asset value per share, EPRA NAV, increased to SEK 178.50 (155.92).
- Catena has good conditions to continue growing even with slowing growth in traditional retail. It is enough just to look towards the development in Asia, especially China, to see the tendency and also in Sweden, the trend clearly points in a direction – it is the digitally driven trade that is now the growth engine of retailing, says Catenas CEO Benny Thögersen.
- Today, we are adapting increasing numbers of terminals for a faster and more complex and individualised omnitrade with capacity to handle larger transaction amounts and a strongly increasing share of consumer orders direct from the warehouse. The terminals’ location is even more important to be able to maximise the benefit and reduce the transport burden, says Catenas CEO Benny Thögersen.
At 9.30 a.m. on 26 April, the webcast will commence for the interim report for January-March 2019.
Follow the webcast via this link: https://tv.streamfabriken.com/catena-fastigheter-q1-2019
Dial-in: UK: +443333009270, US: +18446251570 Sweden: +46851999383
For further information, please contact
Benny Thögersen, CEO Peter Andersson, Deputy CEO and CFO
Tel. +46 706-60 83 50 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 15,075.7 million as of 31 March 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. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.