News

12 mars, 2018

Arise successfully implements a refinancing

Arise AB (publ), (“Arise” or the “Company”), has today successfully issued a new three year senior secured green bond of SEK 650m (ISIN SE0010920900) with a floating rate of 3 months STIBOR + 4.50 % p.a., (“the Bond”). The Bond matures in March 2021.

The Bond issue was oversubscribed after receiving strong interest among a number of top tier institutions, credit funds and private individuals primarily in the Nordics. The Bond has been assigned a GB1 (Excellent) grade by Moody’s which has been an important feature for many investors. Arise intends to apply for a listing of the Bond on Nasdaq Stockholm.

Arise will use the proceeds from the bond issue, together with the Company’s own funds and bank financing of SEK 175m secured from DNB Sweden AB, to refinance the outstanding senior secured green bond of SEK 951.5m maturing in April 2019 (ISIN SE0005906849). The refinancing will decrease the Company’s gross debt, improve credit metrics and extend its maturity profile.

The refinancing will allow Arise to direct its full focus on accelerating growth in its development and asset management business. In 2018 the Company plans to sell two projects while measures are being taken to further strengthen the project portfolio and the Company’s position within asset management services in the growing Nordic wind power market.

With a decreased and long term sustainable debt level in the Company’s wind farms, focus in that area of the business can now increasingly turn to implementation of value creating initiatives, including proactive measures to extend the technical and economic life of the wind farms, further optimize production and lower the risk adjusted opex by continuing to roll out the new service strategy across the fleet.

ARISE AB (publ)

For further information, please contact
Arise AB
Daniel Johansson, CEO Arise AB, +46 702 244 133
Linus Hägg, CFO Arise AB, +46 702 448 916
This information is information that Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 09.00 CET on 12 March, 2018.
About Arise
Arise is one of Sweden’s leading wind power companies, with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ Stockholm.

Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)35 20 20 900, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se


10 mars, 2018

Catella strengthens UK presence

Catella strengthens UK presence by signing a conditioned share purchase agreement to acquire majority stake in APAM Ltd
Catella AB has, through Catella Property Fund Management AB (“CPFM”), signed a share purchase agreement to acquire a majority stake in the leading UK real estate investment and asset management company, APAM Ltd. Closing of the transaction requires regulatory approval and other conditions to be fulfilled.
APAM Ltd (“APAM”) has experienced fast growth over recent years and had revenues of approximately GBP 7 million during the calendar year 2017. CPFM has agreed to acquire 75% of the shares in APAM for a price corresponding to GBP 18 million, on a debt and cash free basis. A non-refundable down payment of the purchase price of GBP 2.7 million was made at signing, while the remaining amount is to be paid in cash upon completion. Catella is not obligated to complete the transaction according to the agreement but it is expected to complete during second half of 2018, subject to necessary regulatory approval having been obtained from the financial supervisory authority in Luxembourg, Commission de Surveillance du Secteur Financier (CSSF).
As a leading company within the strategically important UK market, APAM constitutes a key piece in Catella’s ambition to build the pan-European platform Catella has built the last years within our Property Investment Management business area, which has been our focus for the last four years”, says Knut Pedersen, CEO of Catella AB.
APAM is an independent real estate investment and asset manager operating exclusively in the UK market with a combination of skills to offer clients an ‘end to end’ approach to support their investment strategy. APAM has assets under management (“AUM”) of GBP 1.4 billion and 41 employees.
Simon Cooke and William Powell, founders and executive directors of APAM, will remain shareholders in APAM, each with 12.5% of the share capital and voting power after the transaction. APAM will continue to be independently run by its current management team and to pursue its successful growth strategy within UK. Co-operation between Catella and APAM will start immediately. Management from both companies see significant opportunities to strengthen their offering to international investors by leveraging the combined pan-European reach the two companies can provide. With APAM, Catella will reach SEK 200bn in AUM (GBP 18bn).
Catella Property Investment Management has continuously strengthened its competitive position over the last years and has experienced an annual cumulated growth rate (CAGR) in AUM of 23% and a CAGR of 43% the last three years. This transaction further strengthens our position.” says Timo Nurminen, Head of Property Investment Management at Catella.
We are impressed by the strong risk adjusted return APAM generates for its clients and are delighted to expand our offering for our clients in UK. Catella’s clients, in particular our Asian office’s, will be able to expand their pan-European allocation with a significant share allocated to the UK”, says Timo Nurminen.
Simon Cooke, founding shareholder and executive director, said: “This transaction brings together two great names in property investment management and Catella’s strategic investment provides us with an even stronger platform for growth. Will and I will continue to lead and drive the APAM business – it will be very much ‘business as usual’. We have enjoyed building APAM over the last eight years and look forward to working with Catella to leverage the new opportunities that this partnership brings.”
William Powell, founding shareholder and executive director, added: “Joining forces with Catella, marks the start of an exciting new chapter in APAM’s development, providing our clients with access to best-in-class advisers across 14 countries and an even more extensive range of services. By combining our strengths, this strategic partnership delivers significant potential to grow our business and our international client base, as well as opportunities for our team.”
In connection with the deal, CPFM and the two minority owners in APAM have entered into a call and put option agreement under which CPFM is being granted a call option to acquire the shares of the minority owners and the minority owners are being granted a put option to sell their shares to CPFM during the autumn 2023 at a price to be calculated through a pre-set formula depending on future profit development.

For more information, please contact:
Knut Pedersen
CEO
+46 8-463 33 10
knut.pedersen@catella.se
Timo Nurminen
Head of Property Investment Management
+358 50 337 3320
timo.nurminen@catella.se

The information in this press release is such information that Catella AB (publ) is required to disclose pursuant to the Market Abuse Regulation (596/2014). The information was provided for publication under the auspices of the above contacts on 10 March at 2.30 am CET.
About Catella: Catella is a leading specialist in property investments, fund management and banking, with operations in 12 European countries. The group has sales of approximately SEK 2 billion and manages assets of approximately SEK 150 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.


21 februari, 2018

Catella publishes preliminary figures for 2017

Catella publishes preliminary figures for 2017 and conducts a strategic review of card acquiring, resulting in reduced income in 2018
Following a strategic review of the card acquiring business that will result in reduced income in 2018, Catella has chosen to publish preliminary figures. Catella’s total income for the full-year 2017 amounts to SEK 2,477m (2,027), operating profit before impairment of intangible assets to SEK 414m (258) and profit for the period to SEK 284m (207*), of which attributable to shareholders of the parent company SEK 192m (122*). Finalised figures will be published in full on Friday, 23 February 2018 in Catella’s year-end report.
Catella has decided to conduct a strategic review of its card acquiring business. As a consequence, the client portfolio will be reduced and strategic options will be evaluated in relation to the remaining client portfolio. Income within the card acquiring business is expected to decrease by approximately SEK 70m annually from end of the first quarter of 2018. As a consequence of the strategic review, impairment of intangible assets and goodwill will take place totalling SEK 53m per 31 December 2017 in the Banking business area.
The total impairment of intangible assets amounts to SEK 53m per 31 December 2017, of which a goodwill impairment of SEK 20m is attributable to the anticipated reduction in income within the card acquiring business. Other impairment is a consequence of the strategic review and relates to other intangible assets of SEK 33m, expenses that are largely capitalised in 2017 and are attributable to IT systems and product development.
“The decrease in income within the card acquiring business should be considered in relation to Catella’s total income for full year 2017 of SEK 2,477m and an operating profit of SEK 414m before impairment of the intangible assets. This is the best operating profit that Catella has generated and we strongly believe that the initiatives taken within the Catella group will lead to continued growth going forward,” says Knut Pedersen, Catella’s CEO.
* Excluding the sale of shares in Visa Europe that took place in the second quarter of 2016 and gave a non-recurring effect for full-year 2016 of SEK 224m before tax reported in net financial income and SEK 150m after tax.

For more information, please contact:
Knut Pedersen
CEO and President
+46 8 463 33 10
knut.pedersen@catella.se

This information is information that Catella AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7:00 p.m. CET on 21 February 2018.

Catella is a leading specialist in property investments, fund management and banking, with operations in 14 European countries. The group manages assets of approximately SEK 170 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.


16 februari, 2018

Year-end report 1 January – 31 December 2017

Fourth quarter (1 October – 31 December 2017)
Net sales for the quarter amounted to MSEK 60 (290).
Operating profit before depreciation and amortisation (EBITDA) was MSEK 40 (61), of which associates had an impact of MSEK 7 (0) on the Group. Operating cash flow was MSEK 31 (41).
Operating profit (EBIT) was MSEK 22 (33).
Profit before tax amounted to MSEK 6 (12).
Profit after tax totalled MSEK 5 (10), corresponding to SEK 0.14 (0.30) per share.
Production declined to 202 GWh (238), of which Own wind power operations accounted for 108 GWh (128) and Co-owned wind power operations for 94 GWh (110), due to divestment of operating farms.
Average income from Own wind power operations was SEK 403 per MWh (433), of which SEK 280 per MWh (310) pertained to electricity and SEK 122 per MWh (122) to electricity certificates.
Repurchase of secured bonds at a nominal amount of about MSEK 52 was carried out.
An option agreement was signed with the right to acquire the Enviksberget project (app. 35 MW).

Full-year (1 January – 31 December 2017)
Net sales for the period amounted to MSEK 257 (594).
Operating profit before depreciation and amortisation (EBITDA) was MSEK 131 (138), of which associates had an impact of MSEK 7 (0) on the Group. Operating cash flow was MSEK 96 (185).
A decision was made during the year to recognise impairment of MSEK 152 (18) on the company’s assets in relation to Own wind power operations and Development and management.
Underlying EBIT (EBIT before non-cash impairment) was MSEK 54 (51) and EBIT was MSEK -99 (33).
Underlying loss before tax (loss before tax and non-cash impairment) amounted to MSEK -26 (-34).
Loss before tax amounted to MSEK -178 (-52) after non-cash impairment.
Loss after tax and impairment amounted to MSEK -180 (-41), corresponding to SEK -5.39 (-1.23) per share.
Production declined to 635 GWh (640), of which Own wind power operations accounted for 348 GWh (353) and Co-owned wind power operations for 287 GWh (287), due to divestment of operating farms.
Average income from Own wind power operations was SEK 380 per MWh (433), of which SEK 272 per MWh (297) pertained to electricity and SEK 109 per MWh (136) to electricity certificates.

Halmstad 16 February, 2018
ARISE AB (publ)

For further information, please contact
Daniel Johansson, VD Arise AB, +46 702 244 133
Linus Hägg, CFO Arise AB, +46 702 448 916

This information is information that Arise AB] is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication through the agency of the contact persons set out above, at 08.00 CET on 16 February 2018.

About Arise
Arise is one of Sweden’s leading wind power companies, with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ Stockholm.

Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)10 450 71 00, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se


9 februari, 2018

Power production in January 52.7 GWh

Weaker winds than normal in January resulted in a power production of 52.7 GWh, compared to the month’s budget of 70.1 GWh.
Of this 30.7 GWh refers to Own wind power production and 22.0 GWh to Co-owned power production, compared to the month’s budget of 36.0 GWh and 34.1 GWh.

Halmstad 9 February, 2018
ARISE AB (publ)

For further information, please contact
Daniel Johansson, CEO Arise AB, +46 702 244 133

This information is information that Arise AB is obliged to make public pursuant to the EU MarketAbuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12.30 CET on 9 February, 2018.