Q4 a bump in the road but we remain optimistic on outlook* Estimates down given a lower AUM base * 2026e-27e EV/EBIT of 3-5x with easy comps...
Catella's shares fell 14% following Q4 results, driven by investor disappointment over the SEK0.
Redeye views Catella's Q4 2025 results as broadly reassuring.
* Q4 EBIT of SEK 11m, way below expectations driven by a SEK 151 impairment * Underlying Corporate Finance and IM better than expected in Q4...
* Q4 boosted by Valuation France divestment * We cut 2026e-27e EBIT by 6-8% * 2025e-27e EV/EBIT of 4-7x, with easy comps Q4'25e boosted by ...
Redeye provides a preview of Catella ahead of the company's Q4 2025 results, scheduled for 17 February 2026.
Redeye provides a short comment on Catella's divestment of Valuation France to Newmark Group, announced earlier today.
* Q3 a bump in the road * Estimates down given more cautious view on activity pick-up * 2025e-'27e EV/EBIT of 4-7x with easy comps Q3 softer...
Redeye updates its estimates and valuation following Catella’s Q3 2025 report.
Redeye provides an initial comment on the Q3 2025 report from Catella.
* EBIT to increase by 58% y-o-y to SEK 30m in Q3'25e * Minor negative tweaks to our 2025e EBIT * 2025e-27e EV/EBIT of 4-6x, with easy comps ...
* Q2 beat with activity picking up * Pre-tax profit up by 13-16% for 2026-27e * 2025e-27e EV/EBIT of 4-6x with easy comps Q2'25: Second-stro...
Redeye updates its estimates and valuation following the Q2 2025 report from Catella.
Redeye provides an initial comment on the Q2 2025 report from Catella.
* Q2 EBIT of SEK 315m, +11% vs. ABGSC and +7% vs. consensus * Announces buyback of bonds of max SEK 600m - positive * AUM growth & reduced i...
- Q2 boosted by Kaktus divestment - Minor negative tweaks to our 2025e-'26e EBIT - 2025e-'27e EV/EBIT of 4-6x, with easy comps Q2'25e booste...
Earnings growth to pick up from Q2'25e Estimates down given more cautious view on activity pick-up 2025e-27e EV/EBIT of 5-7x with easy comps...
Redeye provides a research update following Catella’s Q1 2025 report.
Redeye provides an initial comment on Catella’s Q1 2025 report.
Kaktus divestment sold to Quantum Contributes SEK ~260m to EBIT in Q2’25 Divestment profit ~10% of market cap and strong signalling value K...
Redeye provides a comment following yesterday’s announcement from Catella regarding the divestment of Kaktus.
We forecast SEK 30m EBIT for Q1e, up 6x vs. Q1'24 ABGSCe EBIT down on reduced activity assumptions & negative FX 2025e-27e EV/EBIT of 4-5x, ...
Earnings growth to pick up in 2025 EBIT raised by 3% for 2025e 2025e-26e EV/EBIT of 4x with easy comps Strong end to the year, with an intr...
Redeye provides an initial comment on the Q4 2024 report from Catella.
Q4 EBIT of SEK 63m, +19% vs. ABGSC and +13% vs. cons.
Q3 in line with promising outlook for 2025 Large revisions as Kaktus divestment moving from '24e to '25e 2025e-26e EV/EBIT of 4-5x with easy...
Redeye provides a research update following Catella's Q3 2024 report.
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...
Redeye provides an initial comment on the Q3 2024 report from Catella.
Redeye was surprised by today's announcement about CEO Christoffer Abramson stepping down, effective immediately.
CEO, Christoffer Abramson, leaves the companyDaniel Gorosch, CEO of Corporate Finance Sweden, steps in as acting CEOCreates short-term manag...
Market headwinds continued in Q2 We lower 2025e EBIT on slower recovery in activity Easy comps in '24e-'26e with EV/EBIT of 3-5x and 4-8% di...
Redeye states that while the Q2 report was soft, it had some positive highlights - including the sequential SEK3.
Q2 EBIT of SEK 34m, +41% vs. ABGSC but -21% vs. consensus AUM 2% above forecast, positive for revisions 2025-26e Q2 on the soft side, stock ...
Redeye states that Q2 came in weaker than it had expected, although the reason continues to be a very dampened market.
Investment management to be main earnings contributor in Q2 Continued weak market activity makes us cut 2024e EBIT by 11% 2024e EV/EBIT of 4...
Redeye expects Catella's Q2, due 21 August, to show a 19% y/y revenue decline with 11% EBIT margin (12% last year).
Market activity remains muted EBIT estimates cut by 3% for 2025e-26e 2024e EV/EBIT of
Redeye states that Catella delivered a quarter mostly in line with estimates, showing impressive cost control across the board.
Redeye provides its initial comments on Catella's Q4 2023 report, which came in moderately below our estimates.
Q1 EBIT of SEK 5m, below ABGSC and consensus at SEK 26m AUM down 1% q-o-q driven by a finalized AM mandate in UK Q1 on the soft side, stock ...
- Activity remains subdued in Q1'24e - We cut '24e EBIT by 2%, driven by lower corporate finance - 2024e EV/EBIT of 4x with 4% dividend yiel...
Redeye provides a comment following the recent news flow in Catella.
Challenging market in Q4 EBIT estimates cut by 5-10% for 2024-25e 2024e EV/EBIT of 4x with 4-5% dividend yield Challenging market remaining...
Redeye states that Catella had a quarter with weaker-than-expected performance from Investment Management.
Redeye provides its initial comments on Catella's Q4 2023 report, which came in below our forecasts.
Q4 EBIT of SEK 8m vs. ABGSC at 57m and cons. at SEK 66m AUM down 4% q-o-q, driven by FX and negative valuation changes Tough comps and a mis...
It was recently reported that Infrahubs had signed an agreement to sell one of its logistics properties to the large asset manager Blackrock...
Redeye revises its fair value range upwards after correcting a previous error about the treatment of assets in Principal Investments and mak...
Q3 impacted by a muted transaction market EBIT estimates up for 2024e but down for 2025e 2024e EV/EBIT of 4x with 4-5% dividend yield Q3'23...
Redeye states that Catella's Q3 2022 report was weaker than expected, although the core continues to stand firm.
Q3 EBIT of SEK 33m, 25% below ABGSC forecast AUM up 6% q-o-q, strengthen by Aquila Group transaction Tough comps and a miss on EBIT - stock ...
Redeye thinks the Q3 report was weaker than expected.
Redeye lowers its estimates for the Q3 report which is due on Friday.
Strong AUM growth despite tough market EBIT cut for 2023-24e on persistent weak activity 2023e EV/EBIT of 7x with 4-9% dividend yield Stron...
Redeye thinks the Q2 report was good, especially from Investment Management.
Q2 EBIT of SEK 90m, 10% below ABGSC forecast AUM up 6% q-o-q, 2% above with our expectation Tough comps and a miss on EBIT - stock slightly ...
Redeye states that the Q2 report came in very close to its estimates.
Tough comps coming up, Q2e helped by performance fees EPS cut by 7% for '23e driven by lower corporate finance revenues 2023e EV/EBIT of 6x ...
Redeye is neutral in its assessment of Catella’s decision to divest its Infrahubs assets.
• Announces divestment of its partnership with Infrahubs • Positive effect on net profit of ~SEK 12m in H2'23e Catella divests its partnersh...
Catella signs agreement to acquire 60% of Aquila Group Acquisition boosts AUM base by 11% Expect EBIT to shareholders to increase by ~4% for...
Redeye is positive about Catella using its strong balance sheet to act opportunistically in the uncertain market.
Quiet Q1 came in below expectations EBIT estimates cut by 3-4% for 2024e-2025e 2023e EV/EBIT of 6x with 4-9% dividend yield Weak transactio...
Redeye thinks the Q1 report was soft and that the outlook remains uncertain.
Q1 EBIT of SEK 7m, below ABGSC forecast of SEK 69m AUM flat q-o-q, in line with our expectation Q1 weaker than expected, negative revisions ...
Redeye thinks Catella continues to perform decently in a very tough environment.
Expect a slow start to Q1’23e, adj. EBIT of SEK 69m (110m) Minor estimate revisions ahead of Q1'23e 2023e EV/EBIT of 5x with 5-8% dividend y...
Redeye is encouraged by today’s announcement of the EUR500m capital inflow to one of Catella’s most sustainability focused funds, adding c4%...
