Catella reported sales of SEK 618m (604m), which was 10% above ABGSC. EBITDA came in at SEK 159m, 4% above ABGSC. The AUM came in at SEK 141bn, down 1% q-o-q, which was 1% above ABGSC forecast which expected SEK 140bn. The quarterly drop was driven by the high number of transactions in the quarter, where holdings of SEK 7bn were divested in two residential funds. The company also saw inflows of SEK 4bn, evenly divided in the commercial property funds and residential funds. The company also flags that they have an additional +10bn in committed AUM capital to be put into use the coming year in new development projects and properties.
Report in line with minor cons. revisions - stock flattish today
Given that the report came much in line with expectations with limited revisions to follow from consensus, we expect a rather neutral share price development today, moving in line with the market. Conf. Call at 10.00 CET.
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