Focus on long-term strategic changes and continued refining of properties during the first quarter.
"The first quarter is normally Catella's weakest due to low transaction volumes and Q1 2021 was no exception, given the continued challenges presented by Covid-19 in terms of completing property transactions quickly and efficiently. Although operating profit is not satisfactory, we are taking significant strategic steps forward. The focus on the property segment continues while our cash position has been significantly strengthened through a new bond issue of SEK 1.25 Bn.
It takes time for strategic changes to translate into profits and it is important that we remain patient.I am convinced that our focus on properties and synergies, with an increased proportion of profit derived from Property Investment Management and Principal Investments, will be positive for Catella's shareholders." says Christoffer Abramson, CEO and President.
* Capital gains from the divestment of Catella Asset Management SAS totalled SEK 130 M, in the first quarter 2021.
** Attributable to shareholders of the Parent Company. Includes disposal group held for sale.
***Adjusted for Mutual Funds and Catella Asset Management SAS
Invitation to presentation of the Interim Report
Catella will be presenting the Interim Report and answering questions in a teleconference today 7 May 2021 at 9 a.m. CET. The presentation will be in English and will be made by Catella's CEO and President Christoffer Abramson and Catellas acting CFO Mattias Brodin. To participate in the teleconference, go to www.catella.com or call +46 (0)8 566 427 03.
This disclosure contains information that Catella is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 07-05-2021 07:00 CET.
This information was distributed by Cision http://www.cisionwire.se/