Q3 2024 Catella AB Earnings Call Transcript
Key Points
- Catella AB (LTS:0RL4) has preserved liquidity and maintains a strong capital position, which is crucial during market downturns.
- The company has realized material cost efficiency improvements, reflected in a SEK16 million reduction in costs year-on-year.
- Despite a challenging market, Catella AB (LTS:0RL4) has maintained stable assets under management (AUM), indicating resilience.
- The merger of Catella Residential Investment Management and Catella Real Estate is expected to create a stronger, more efficient fund platform.
- Catella AB (LTS:0RL4) successfully issued a SEK600 million bond under a new MTN program, met with strong investor interest.
- Net revenue decreased by SEK10 million due to lower transaction activity across all business areas.
- One-off restructuring costs of SEK13 million impacted the quarterly results.
- The corporate finance division experienced another weak quarter due to a slow transaction market, particularly in France.
- Despite cost reductions, the company reported a net loss of SEK23 million for the quarter.
- The transaction market remains subdued, with overall volumes and capital inflows in the European real estate market continuing to be low.
Thank you and good morning, everybody and welcome to Catella's interim report for the third quarter of 2024. My name is Daniel Gorosch and I am the Interim CEO of Catella Group and together with the Michel Fischier CFO and Head of Industrial Relations, we will walk you through the highlights of the quarter.
After the presentation, we will open up for Q&A session and the material and reports are as always available on our website.
So I'd like to start the presentation with a brief overview of Catella starting on page 3.
Catella operates in three property focused business areas, investment management, principal investments, and corporate finance. We manage over SEK150 billion in our Pan European investment management platform and a bit more than 70% of the assets under management are managed in property funds and the remaining part in a significant number of asset management mandates across Europe principal investments is where we invest our own equity into a broad and diversified portfolio of European investment
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
