Q1 EBIT of SEK 7m, below ABGSC forecast of SEK 69m
Catella reported an EBIT of SEK 7m (215m) in Q1’23, which was 90% below ABGSC estimate of SEK 69m. Looking at the largest segment, the operating profit within Investment management, came in at SEK 31m in Q1, below our forecast of SEK 66m. Within Corporate Finance, the operating profit came in below ABGSC's expectation, at SEK -20m (-22m), ABGSC expected SEK 2m, the weak result was driven by an exceptionally weak transaction market. Principal investment contributed with SEK 9m to the operating profit in the first quarter while ABGSC expected SEK 16m.