Year-end report, January – December 2018
With the fourth quarter’s results, Catena are summarising a strong 2018. Catena’s active project development work is successful and we maintain a high delivery rate where new projects are initiated continuously. An improved letting ratio contributes to a higher profit from property management, which in turn generates a good cash flow development.
15 February 2019, 08:00 a.m.
- Rental income rose by 22 percent to SEK 1,090.7 million (892.0).
- Net operating surplus increased by 23 percent to SEK 827.6 million (671.2).
- Profit from property management rose by 30 percent to SEK 571.3 million (440.1).
- Profit for the year increased to SEK 823.4 million (634.7), corresponding to earnings per share of SEK 21.93 (16.08), including changes ni value of SEK 368.8 million (318.5).
- Net asset value per share, EPRA NAV, rose to SEK 169.53 (149.85).
- The Board proposes a dividend of SEK 5.75 per share (4.50).
”Changed goods flows, a higher share of digitally driven trade and increasingly complex logistics benefit our business and drive our cash flows. We see continued growth in our industry and Catena’s focus on sustainable, efficient logistics facilities in strategic locations matches the growing needs more than enough. By offering properties that meet high standards, we add value, but it is in our role as an active discussion partner that development takes place and trust is created. One example is our close cooperation with our customer, the third-party logistics operator Nowaste. In close collaboration with others, we resolve Nowaste’s needs and can quickly complete a new logistics warehouse with the best conditions for advanced automation solutions” says CEO Benny Thögersen in his comments.
”In 2018, Catena worked conscientiously on several fronts. We had a strong focus on project development and we have reached agreements on the acquisition of important logistics land to secure new logistics locations. I am incredibly proud of what we are achieving, but above all I am proud of the way that we are doing it. Catena’s dedicated and committed employees always strive to exceed expectations in large and small – a winning concept for developing the logistics locations of the future” summarises CEO Benny Thögersen.
For further information, please contact
Benny Thögersen, CEO, Tel. +46 706-60 83 50,
benny.thogersen@catenafastigheter.se
Peter Andersson, Deputy CEO and CFO, Tel. +46 730-70 22 44,
peter.andersson@catenafastigheter.se
Catena´s mission is to own, effectively manage and pro-actively develop properties in prime locations that offer the potential to generate a steadily growing cash flow and favourable value growth. Catena’s overridning goal, based on its focused orientation, is to give shareholders a favourable long-term total return. As of 31 December 2018, the properties had a total value of SEK 14 721,1 million.
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 Market Act. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.
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