Catella Q4 2024: Overall solid, strong set-up for 2025 - Redeye
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Catella Q4 2024: Overall solid, strong set-up for 2025 - Redeye

Redeye provides an initial comment on the Q4 2024 report from Catella. Overall, the report was mostly in line with estimates although with some deviations on a segmental level. AUM development for Investment Management was solid, although profitability was below our forecast. Corporate Finance showed a distinct beat on profitability, on the back of a cost structure that has been optimised throughout the year. For Principal Investments, Polaxis was divested in the quarter, but our eyes remain set on Kaktus divestment that should be rather imminent. We expect to make only minor estimate and valuation changes following the report.

Redeye provides an initial comment on the Q4 2024 report from Catella. Overall, the report was mostly in line with estimates although with some deviations on a segmental level. AUM development for Investment Management was solid, although profitability was below our forecast. Corporate Finance showed a distinct beat on profitability, on the back of a cost structure that has been optimised throughout the year. For Principal Investments, Polaxis was divested in the quarter, but our eyes remain set on Kaktus divestment that should be rather imminent. We expect to make only minor estimate and valuation changes following the report.
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