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Q3 in line with promising outlook for 2025 Large revisions as Kaktus divestment moving from '24e to '25e 2025e-26e EV/EBIT of 4-5x with easy...
Redeye provides a research update following Catella's Q3 2024 report.
Q3 adj. EBIT of SEK 32m, +1% vs. ABGSC AUM flat q-o-q when adjusting for FX headwinds Q3 in line with expectations, stock flattish today Q3...
Redeye provides an initial comment on the Q3 2024 report from Catella.
Redeye was surprised by today's announcement about CEO Christoffer Abramson stepping down, effective immediately.
CEO, Christoffer Abramson, leaves the companyDaniel Gorosch, CEO of Corporate Finance Sweden, steps in as acting CEOCreates short-term manag...
Market headwinds continued in Q2 We lower 2025e EBIT on slower recovery in activity Easy comps in '24e-'26e with EV/EBIT of 3-5x and 4-8% di...
Redeye states that while the Q2 report was soft, it had some positive highlights - including the sequential SEK3.
Q2 EBIT of SEK 34m, +41% vs. ABGSC but -21% vs. consensus AUM 2% above forecast, positive for revisions 2025-26e Q2 on the soft side, stock ...
Redeye states that Q2 came in weaker than it had expected, although the reason continues to be a very dampened market.
Investment management to be main earnings contributor in Q2 Continued weak market activity makes us cut 2024e EBIT by 11% 2024e EV/EBIT of 4...
Redeye expects Catella's Q2, due 21 August, to show a 19% y/y revenue decline with 11% EBIT margin (12% last year).
Market activity remains muted EBIT estimates cut by 3% for 2025e-26e 2024e EV/EBIT of
Redeye states that Catella delivered a quarter mostly in line with estimates, showing impressive cost control across the board.
Redeye provides its initial comments on Catella's Q4 2023 report, which came in moderately below our estimates.
Q1 EBIT of SEK 5m, below ABGSC and consensus at SEK 26m AUM down 1% q-o-q driven by a finalized AM mandate in UK Q1 on the soft side, stock ...
- Activity remains subdued in Q1'24e - We cut '24e EBIT by 2%, driven by lower corporate finance - 2024e EV/EBIT of 4x with 4% dividend yiel...
Redeye provides a comment following the recent news flow in Catella.
Challenging market in Q4 EBIT estimates cut by 5-10% for 2024-25e 2024e EV/EBIT of 4x with 4-5% dividend yield Challenging market remaining...
Redeye states that Catella had a quarter with weaker-than-expected performance from Investment Management.
Redeye provides its initial comments on Catella's Q4 2023 report, which came in below our forecasts.
Q4 EBIT of SEK 8m vs. ABGSC at 57m and cons. at SEK 66m AUM down 4% q-o-q, driven by FX and negative valuation changes Tough comps and a mis...
It was recently reported that Infrahubs had signed an agreement to sell one of its logistics properties to the large asset manager Blackrock...
Redeye revises its fair value range upwards after correcting a previous error about the treatment of assets in Principal Investments and mak...
Q3 impacted by a muted transaction market EBIT estimates up for 2024e but down for 2025e 2024e EV/EBIT of 4x with 4-5% dividend yield Q3'23...
Redeye states that Catella's Q3 2022 report was weaker than expected, although the core continues to stand firm.
Q3 EBIT of SEK 33m, 25% below ABGSC forecast AUM up 6% q-o-q, strengthen by Aquila Group transaction Tough comps and a miss on EBIT - stock ...
Redeye thinks the Q3 report was weaker than expected.
Redeye lowers its estimates for the Q3 report which is due on Friday.
Strong AUM growth despite tough market EBIT cut for 2023-24e on persistent weak activity 2023e EV/EBIT of 7x with 4-9% dividend yield Stron...
Redeye thinks the Q2 report was good, especially from Investment Management.
Q2 EBIT of SEK 90m, 10% below ABGSC forecast AUM up 6% q-o-q, 2% above with our expectation Tough comps and a miss on EBIT - stock slightly ...
Redeye states that the Q2 report came in very close to its estimates.
Tough comps coming up, Q2e helped by performance fees EPS cut by 7% for '23e driven by lower corporate finance revenues 2023e EV/EBIT of 6x ...
Redeye is neutral in its assessment of Catella’s decision to divest its Infrahubs assets.
• Announces divestment of its partnership with Infrahubs • Positive effect on net profit of ~SEK 12m in H2'23e Catella divests its partnersh...
Catella signs agreement to acquire 60% of Aquila Group Acquisition boosts AUM base by 11% Expect EBIT to shareholders to increase by ~4% for...
Redeye is positive about Catella using its strong balance sheet to act opportunistically in the uncertain market.
Quiet Q1 came in below expectations EBIT estimates cut by 3-4% for 2024e-2025e 2023e EV/EBIT of 6x with 4-9% dividend yield Weak transactio...
Redeye thinks the Q1 report was soft and that the outlook remains uncertain.
Q1 EBIT of SEK 7m, below ABGSC forecast of SEK 69m AUM flat q-o-q, in line with our expectation Q1 weaker than expected, negative revisions ...
Redeye thinks Catella continues to perform decently in a very tough environment.
Expect a slow start to Q1’23e, adj. EBIT of SEK 69m (110m) Minor estimate revisions ahead of Q1'23e 2023e EV/EBIT of 5x with 5-8% dividend y...
Redeye is encouraged by today’s announcement of the EUR500m capital inflow to one of Catella’s most sustainability focused funds, adding c4%...
Investment management solid as a rock EBIT estimates raised by 2-4% for 2023e-2024e 2023e EV/EBIT of 5x with 5-7% dividend yield Investment...
Redeye is encouraged to see that Catella delivered a solid Q4 2022 report, despite a challenging real estate market.
Redeye states that Catella posted another solid quarter despite rather challenging market conditions.
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.
Q4’22e EBIT of SEK 132m, Inv. mgmt the main earnings driver Estimates only tweaked ahead of Q4'22e 2023e EV/EBIT of 6x with 4-6% dividend yi...
Q3 beat driven by Investment Management AUM and postponed divestments lift ’23-24 EBIT 2023e EV/EBIT of 5x, 50% below avg.
Redeye states that Catella’s Q3 report was very strong – once again.
Q3 adj. EBIT of SEK 62m, 24% above ABGSC AUM growth of 5% q-o-q, will drive positive revisions Earnings beat with positive revisions, stock ...
Redeye states that the Q3 report was strong. Investment Management once again exceeded Redeye’s estimates for both revenue and profitability...
Redeye comments on the most important events in the quarter and updates its estimates for Q3.
Q3’22e EBIT of SEK 50m, down 2% y-o-y Estimates unchanged for 2022-2024 2023e EV/EBIT of 7x with 6-11% dividend yield Expect no contribut...
Strong Q2 beat driven by Investment Management We increase our ’23e-’24e underlying EBIT by 5% 2023e EV/EBIT of 7x with appealing dividend y...
Redeye states that Catella’s Q2 report was even stronger than expected.
Q2 adj. EBIT of SEK 328m, 26% above ABGSC AUM growth of 8% q-o-q in Q2, will drive pos.
Redeye states that the Q2 report was exceptionally strong, with special emphasis on Investment Management.
Record strong Q2e to be driven by PIM & Principal Inv.
Redeye updates its estimates prior to the Q2 report, following the selling of two Infrahubs projects and strong development from the public ...
Redeye states that Catella’s divestments of Infrahubs Ljungby and Örebro were better than estimated.
Redeye states that Catella’s Q1 report proved a new higher baseline for profitability in Investment Management.
Strong Q1 beat driven by Principal Investments and PIM Underlying EPS estimates raised by 16% for 2022 2022e EV/EBIT of 6x, ~50% below avg.
Q1 EBIT of SEK 216m, 40% above ABGSC AUM growth of 2% q-o-q in Q1, in line with ABGSC The stock should outperform today Q1 EBIT of SEK 216m...
Redeye states that the Q1 report was strong and in line with estimates.
Redeye is positive about Catella's acquisition of WPP.
Strong Q1’22e driven by Principal investments & PIM Estimates raised because of project Norrköping 2022e EV/EBIT of 7x, ~50% below avg.
Redeye updates its estimates prior to the Q1 report, following the divestments in Corporate Finance and the selling of Infrahubs Norrköping.
