Interim Report January – September 2018
Through sustained and active efforts, net operating surplus, letting ratio and rental income are continuously enhanced. This underlies the profit from property management, which increased by 27 percent compared with the corresponding period in 2017.
26 October 2018, 8.00 a.m.
- Rental income increased by 22 percent to SEK 805.4 million (658.6).
- The net operating surplus increased by 22 percent to SEK 610.5 million (500.9).
- Profit from property management rose by 27 percent to SEK 422.8 million (333.0).
- Profit for the period increased to SEK 665.3 million (531.0), corresponding to earnings per share of SEK 17.74 (13.20), including changes in value of SEK 325.8 million (295.3).
- Net asset value per share, EPRA NAV, increased to SEK 164.88 (143.73).
” Long-term and sustainable customer relationships with stable tenants are fundamental for Catena, as evidenced in the earnings we report. Our customer base also reflects the shift towards digital trade, as a result of our ambition to identify early changes in the market to have capacity to meet new needs. This long-term approach in terms of both customers and land, combined with strong cash flow and debt that are wellbalanced at any given time, prepare us well for rising interest rates or yield requirements, for example. This is a good starting point that enables continued focus on project and site development. In a changing environment, the ability and expertise to identify attractive locations is crucial. With our agreement to acquire 450,000 square metres of land at the new Stockholm Syd logistics location in the Municipality of Nykvarn, we seek to secure a further logistics position meeting the needs that arise as flows, trade and purchasing patterns shift. The location and the acquired land offer great potential for future warehouse and terminal facilities, facilitating a sustainable supply chain in which all stages are fully optimised. Being responsive and fast when it matters, while daring to stick to long-term strategies is challenging, but I can say with pride that we are successful in our endeavours” says CEO Benny Thögersen in his comments on the Interim Report.
For further information, please contact
Benny Thögersen, CEO
Tel. + 46 706-60 83 50
benny.thogersen@catenafastigheter.se
Peter Andersson, Deputy CEO and CFO
Tel. + 46 730-70 22 44
peter.andersson@catenafastigheter.se
