Catella: Underlying Q3 in line - ABG
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 adj. EBIT of SEK 32m, +1% vs. ABGSC
Catella reported an EBIT of SEK 19m (33m) in Q3’24, which was 44% below ABGSC forecast of SEK 34m and 27% below FactSet consensus, which forecasted SEK 26m. However, when adjusting for one-offs burdening the quarter, the adjusted EBIT came in at 32m, which is 1% above ABGSC forecast. The company highlights that they aim to divest the French Polaxis project within Principal Investments during Q4 which should further strengthen the liquidity, which remains strong at SEK 869m for Q3. For the Kaktus project, the divestment timeline seems more open, where the company highlights that they are in active dialogues with investors currently.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/catella/Equity-research/2024/11/catella---underlying-q3-in-line/
