In This Article:
-
Assets Under Management (AUM): Approximately SEK150 billion.
-
Revenue: Just north of SEK2 billion.
-
Revenue Decrease: SEK20 million year-on-year.
-
Operating Profit Impact from Kaktus Towers Sale: Nearly SEK260 million in 2025.
-
Investment Management AUM Increase: EUR150 million compared to year-end.
-
French SCPI Fund Upeka Return: Nearly 8% for last year.
-
Principal Investments IRR: 15% to 20% on invested capital.
-
Corporate Finance One-off Costs: SEK7 million in the quarter.
-
Negative Financial Net Impact: SEK143 million, with SEK104 million due to currency effects.
-
Cash Position: SEK782 million at the end of the quarter.
-
Equity Ratio: 37%.
-
Post-Kaktus Divestment Cash Position: SEK1.7 billion.
Release Date: May 09, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Catella AB (FRA:SKVB) manages approximately SEK150 billion in assets under management, indicating a strong market presence.
-
The company has operations in 12 countries and assets in 16, showcasing its extensive international reach.
-
Investment Management saw inflows exceed outflows, with a small increase of EUR150 million in AUM compared to year-end.
-
The French SCPI fund Upeka was among the top five performers in the market with nearly 8% return last year, boosting capital raising efforts.
-
The divestment of Kaktus Towers is expected to add nearly SEK260 million to the operating profit in 2025, strengthening the financial position.
Negative Points
-
Revenues decreased by SEK20 million year-on-year due to relatively slow transaction activity.
-
FX translation effects, as the SEK strengthened, had a substantial negative effect on financial net, impacting earnings per share.
-
The quarter saw a significant decrease in variable revenues, the lowest result in the last 16 quarters, due to limited transaction activity.
-
Corporate Finance experienced low transaction volumes, affecting the business area's top line and EBIT.
-
Restructuring costs of SEK7 million were incurred in Corporate Finance, impacting quarterly results.
Q & A Highlights
Q: Could you provide insight into how long in advance you can be certain that a transaction will go through in Investment Management? A: Michel Fischier, CFO, explained that funds have a clear plan for asset divestment and investment, giving a good view of upcoming transactions. However, some transactions may face delays, but the pipeline for the year is clear.
Q: How does the transaction pipeline for the rest of the year compare to last year's volumes? A: Michel Fischier stated that specific numbers regarding the pipeline are not disclosed, so no direct comparison to last year's volumes was provided.