Sweden · Delayed Price · Currency is SEK Catella AB Earnings Call Transcripts
Fiscal Year 2025
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Strong 2025 results driven by divestments, operational efficiency, and AUM growth, with solid EBIT and net profit improvements. Outlook for 2026 is positive, expecting increased transaction activity and continued AUM growth, despite some fund redemptions.
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The company is focused on property-related business areas with a strong European presence and recurring revenue base. It is integrating Principal Investments into core operations, maintaining a solid cash position, and expects gradual market recovery, prioritizing growth within Europe.
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AUM grew to nearly EUR 160 billion, but Q3 2025 saw lower transactional revenues and a net loss of EUR 28 million, offset by cost efficiencies and a strong cash position. Integration of Principal Investments and organizational realignment aim to drive future growth.
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Second quarter results were driven by the profitable sale of Kaktus Towers, strong AUM growth from new mandates, and improved profitability across all business areas. The company maintains a robust liquidity position and expects continued market recovery and further growth in asset management.
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Q1 saw a 4% year-over-year increase in transaction volumes, but revenues fell by SWE 20 million due to low activity and negative FX effects. The Cactus Towers sale will add SWE 260 million to 2025 profit and boost liquidity, supporting a more diversified investment strategy.
Fiscal Year 2024
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Q4 2024 saw a 39% revenue increase and a nearly sevenfold EBIT rise, driven by improved market conditions and efficiency gains. AUM grew with net inflows, and the company is executing a refined strategy focused on diversification, profitability, and scalable AUM growth.
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Cost efficiencies and strong liquidity offset lower revenues and one-off restructuring costs, resulting in flat EBIT year-on-year. AUM remained stable, a green bond was issued, and the group is positioned for gradual market recovery with further cost savings expected.
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Q2 2024 was marked by continued weak transaction volumes and lower revenues, but cost reductions and operational efficiencies helped offset some impact. AUM grew slightly, the fund platform merger advanced, and liquidity remains strong, positioning for recovery as market conditions stabilize.