Q4 EBIT of SEK 138m, 4% above ABGSC
Catella reported an EBIT of SEK 138m (145m) in Q4’22, which was 4% above ABGSC estimate, down 5% y-o-y. The operating profit within Investment management, came in at SEK 103m in Q4, bang in line with our forecast. The strong result in the segment was driven by high variable fees from the divestment of 34 residential properties in Germany and the Netherlands. Within Corporate Finance, the operating profit came in just shy of ABGSC expectation, at SEK 11m (57m). Principal investment contributed with SEK 4m to the operating profit in Q4 while ABGSC expected SEK 27m. Catella proposes a DPS of SEK 1.2 (1.0), which was slightly below our forecast of SEK 1.5.
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