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Sweden's Catella Q3 operating profit rises on cost actions, one-off gains

By Reuters News


Overview

  • Sweden property investment group's Q3 net sales declined year-on-year

  • Adjusted Q3 operating result improved year-on-year due to cost actions and one-off items

  • Assets under management rose slightly from previous quarter despite net outflows


Outlook

  • Company expects substantial benefits from restructuring measures to emerge from 2027 onwards

  • Catella prioritises efficiency and profit margin improvements regardless of market recovery timing

  • Catella to adopt federated operating model from 2027 to improve scalability and efficiency


Result Drivers

  • CORPORATE FINANCE - Higher gross profit in Corporate Finance drove year-on-year increase, partly offset by declines in Investment Management and Balance Sheet Investments

  • INVESTMENT MANAGEMENT OUTFLOWS - Higher interest rates and attractive fixed-income yields led to continued net outflows from Investment Management

  • BALANCE SHEET INVESTMENTS - Gross profit declined due to a legacy investment and reduced balance sheet exposure


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Assets Under Management

SEK 162 bln


Analyst Coverage

  • The one available analyst rating on the shares is "hold"

  • The average consensus recommendation for the investment management & fund operators peer group is "buy."

  • Wall Street's median 12-month price target for Catella AB is SEK30.50, about 88.5% above its November 4 closing price of SEK16.18

  • The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 3 - Sweden's Latour Q3 industrial profit jumps on sales volume

  • Nov 4 - Sweden's Medicover Q3 profit rises 29% on price adjustments and wider network; to focus on Europe

  • Nov 4 - Sweden's Nobia Q3 EBIT misses estimates as supply chain, ramp-up costs weigh


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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