Interim report January – June 2023: We are growing with our customers
Despite the challenging business environment, Catena continues to win attractive business based on its unique land bank and long-term customer relationships.
07 July 2023, 08.00 a.m.
- Rental income rose by 17 percent to SEK 892 million (760).
- The net operating surplus increased by 19 percent to SEK 723 million (605).
- Profit from property management rose by 23 percent to SEK 581 million (474).
- Profit from property management per share rose by 6 percent to SEK 11.65 (10.97)
- The change in value of properties amounted to SEK -558 million (1,305).
- Profit for the period decreased to SEK -35 million (1,806), corresponding to earnings per share of SEK -0,70 (43,04).
- The long-term net asset value EPRA NRV per share amounted to SEK 364.23 (372.15)
Catena’s CEO Jörgen Eriksson comments on the interim report:
” The land bank, which we have built up over a number of years, comprises large potential logistics sites in optimum locations throughout Sweden. As demand increases, the quantity of land available for development decreases. This makes us a more attractive partner as we are able to meet the needs of customers wanting to expand their logistics space in strategic locations. In addition to the land bank, we need a strong financial profile to implement projects and manage these facilities for our customers through all the phases of a market cycle. I am pleased to report to the market that during the quarter, we were awarded a BBB- credit rating, equivalent to Investment Grade, by both NCR and Fitch. The fact that we achieved and maintained this level in times of uncertainty is in line with our ambition to be a stable, long-term partner, whatever the macroeconomic climate.”
” When our customers’ needs grow, we are ready to support their growth plans. One example of this is Nowaste Logistics, a fast-growing third-party logistics operator that leased its first facility from us in 2018. We now own three facilities in which they operate, and we recently signed a Letter of Intent for what will be Catena’s largest project ever. Three logistics facilities totalling 75,000 m² are being built at Logistikposition Ramlösa in Helsingborg for Nowaste Logistics to continue to develop its operations.”
At 10.00 a.m. on July 7, the webcast will commence for the interim report for January-June 2023. Follow the webcast via this link: https://ir.financialhearings.com/catena-q2-2023/register
For further information, please contact
Jörgen Eriksson, CEO, Tel. + 46 730-70 22 42, email@example.com
Sofie Bennsten Deputy CEO and CFO, Tel. + 46 730-70 22 41 firstname.lastname@example.org
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This disclosure contains information that Catena is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 07-07-2023 08:00 CET.