Q4 EBIT of SEK 63m, +19% vs. ABGSC and +13% vs. cons
Catella reported an EBIT of SEK 63m (8m) in Q4’24, which was 19% above ABGSC expectations at SEK 53m and 13% above FactSet consensus, which forecasted SEK 56m. The main deviation in the fourth quarter compared to ABGSC was the better-than-expected Corporate Finance earnings, while the Investment Management and Principal Investment segments came more in line with our forecast. For 2025, the CEO delivers an upbeat message and highlights that Catella expects a recovery in the transaction market which would benefit all segments. Catella proposes a DPS of SEK 0.9 (0.9), which was in line with our forecast of SEK 0.9.