News

24 februari, 2023

Mattias Brodin leaves as CFO for Catella

Mattias Brodin leaves his role as Chief Financial Officer (CFO) and member of the Group Management. The recruitment process to appoint a new CFO will start immediately. Michel Fischier, currently Head of Investor Relations and Group Communications, has today been appointed acting CFO during the recruitment period.

”During a time where Catella has focused its business and increased its profitability and growth, Mattias has contributed well in strengthening the Finance department. I want to thank him for his good work and wish him all the best in the future”, says Christoffer Abramson, CEO and President of Catella.

22 februari, 2023

Catella Real Estate AG sells office building in Stockholm’s CBD on behalf of „Sarasin Sustainable Properties – European Cities“ Fund

Munich / Stockholm, 22 February 2023: Catella Real Estate AG (CREAG), Munich, is pleased to announce the sale of an office building in Stockholm’s central business district on behalf of the fund “Sarasin Sustainable Properties – European Cities”. The buyer of the property is DEAS Asset Management on behalf of Nordea Life & Pensions Sweden.

The office building, known as “Elefanten 17”, is located in one of Stockholm’s prime office locations, Herkulesgatan 28 / Vattugatan 17-19, in the western part of Stockholm’s central business district. It is located above the Klaratunneln, with easy access to major transportation hubs including E4 motorway through Klarastrandsleden and Essingeleden, and only 5 minutes’ walk from Stockholm’s central Train Station, making it very attractive for tenants who need to be centrally located and have a quick connection to Stockholm’s Arlanda Airport.

The property was built in 2002, has a total rental area of approximately 4,650 sqm and is fully let to six tenants. The transaction was structured as a share deal, selling 100% of the shares of “Stockholm Elef. 17 AB”.

Catella Real Estate AG was advised by Catella Corporate Finance Stockholm acting as sell-side brokerage advisor for the transaction, while Landahl Advokatbyrå adviced the seller on legal and Ernst & Young AB on tax matters. Grandab Management AB was responsible for the local asset management during the 10-year holding period. DEAS Asset Management was adviced by Setterwalls on legal, KPMG on financial and tax and WSP on technical and environmental due diligence for this acquisition.

Jaime Sarrà, Senior Investment Manager of CREAG, says: “We are proud to announce the sale of Elefanten 17 in Stockholm. Catella was able to profit from a significant rental growth in the market and yield compression over the last 10 years. Sweden showed once more to be one of the most stable real estate markets in Europe, even in the current turbulent times. We will keep monitoring the Swedish market for new acquisitions, especially whitin the logistic sector”.

Axel Bertram, Portfolio Manager of CREAG, states: ”Having achieved exceptional returns for our investors over the years with this property, we have decided to shift our focus to new investment opportunities. This divestment provides us with an opportunity to realize a substantial profit for our investors.”

The purchase price has been agreed to be kept confidential by both parties.

About the ”Sarasin Sustainable Properties – European Cities” fund

The ”Sarasin Sustainable Properties – European Cities” is a fund managed by Catella Real Estate AG in cooperation with Bank J. Safra Sarasin AG. The cooperation with Bank J. Safra Sarasin Ltd. with common sustainability objectives, started already in 2011 and thus takes a pioneering role in the field of sustainable European real estate investments. The fund is specifically oriented towards the needs of institutional investors in Switzerland, Austria and Germany.

About Catella Real Estate AG

Catella Real Estate AG (CREAG), founded in January 2007 and headquartered in Munich, is engaged in the management of real estate investment funds as well as in providing advice on investing in real estate.

CREAG is a licensed capital management company (KVG) under German investment law (KAGB). The purpose of the company is the conception, development and management of open-ended real estate investment funds based on the expertise and outstanding market position of the Catella Group. CREAG currently manages assets under management of EUR 7.3 billion (as of December 31, 2022) in 20 real estate funds.

For more information please contact:

Catella Real Estate AG

Julia Stübler, Marketing & PR Manager

T: (0)89 189 16 65 275

F: (0)89 189 16 65 466

M: +49 (0)152 389 228 65

E: julia.stuebler@catella-investment.com

Further information can be found on the website: www.catella.com/immobilienfonds

16 februari, 2023

Catella Market Indicator, Spring 2023, has been published

From a strong property market to uncertain times

Year 2022 was a year of change that marked the end of a longterm strong property investment market. The change is due to the war in Ukraine, which rapidly increased inflation and eventually interest rates to a much higher level than had become the norm. Transaction market was really strong during the first half of the year, but an exceptionally radical turn took place in the summer, and the rest of the year was challenging in terms of property investments.

It seems that the period of extremely low interest rates, which strongly supported the property market for almost a decade, is over, at least for now. As interest rates finally took an upturn last spring, the pace of transaction market also waned, and there was a clear upward adjustment in property yield requirements. Because of the uncertainty caused by market transformation, property transaction volumes were in a clear decline already in the autumn. After a very strong start to the year, the last quarter was the weakest since 2014 in terms of transaction volume. This year, too, is likely to start off slow, and the first half is likely to produce weaker transaction volume than usual.

Yield requirements decreased almost continuously since 2010 after the financial crisis when the prime yield requirement for offices in the Helsinki CBD was approximately 6%. Prime yield requirement was at its lowest in the winter of 2022, at the level of 3.2%. Last autumn, it quickly rose from rock bottom to the level of 4.0%. Although yield requirements have changed significantly, prime yield requirement is still nowhere near the average level over the last 20 years which is 4.9%, not to mention the levels seen after the financial crisis. Fortunately for investors, the rapid increase in yield requirements is somewhat compensated by large index increases in rents that can take place now for the longest time as a result of high inflation.

The Catella Market Indicator, Spring 2023 can be ordered by clients and co-operators for free from the following e-mail: info@catella.fi.

For more information, contact:

Antti Louko
Managing Director
tel. +358 50 5277 392
antti.louko@catella.fi

16 februari, 2023

Year-end report 1 January – 31 December 2022

FOURTH QUARTER (1 OCTOBER–31 DECEMBER 2022)

Net sales for the quarter amounted to MSEK 106 (79).
Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 52 (46) before items affecting comparability and MSEK 52 (32) after items affecting comparability.
Operating profit (EBIT) amounted to MSEK 37 (31) before items affecting comparability and MSEK 37 (17) after items affecting comparability.
Profit after tax totalled MSEK 36 (13), corresponding to SEK 0.80 (0.33) per share before and after dilution.
Operating cash flow was MSEK -3 (23) and cash flow after investments amounted to MSEK -76 (-10).
Production generated 79 GWh (82) of green electricity with an average income of SEK 857 per MWh (812).
An extraordinary general meeting on 15 December 2022 resolved to introduce a warrant programme for company employees. Employees of the company acquired a total of 407,360 warrants, of which 370,000 were acquired by members of Group management.

FULL-YEAR (1 JANUARY–31 DECEMBER 2022)

Net sales for the period amounted to MSEK 1,164 (341).
Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 851 (157) before items affecting comparability and MSEK 851 (143) after items affecting comparability.
Operating profit (EBIT) totalled MSEK 790 (93) before items affecting comparability, and MSEK 790 (79) after items affecting comparability.
Profit after tax amounted to MSEK 772 (57), or SEK 18.60 (1.51) per share before dilution and SEK 18.60 (1.49) after dilution.
Operating cash flow was MSEK 923 (143) and cash flow after investments amounted to MSEK 618 (19).
Production generated 292 GWh (282) of green electricity with an average income of SEK 720 per MWh (614).
In the first half of 2022, Markus Larsson was appointed new CFO, Daniel Cambridge was appointed as the new CCO, responsible for business development and M&A, and Hans Carlsson was appointed as new COO. All of the above have joined Group management.
In March 2022, Arise made an investment decision regarding construction of the wind farm project Lebo in Västervik Municipality.
In April 2022, Arise signed an asset management agreement with BlackRock regarding wind farms in Finland with an installed capacity of 219 MW.
In May 2022, Arise issued green senior unsecured bonds of MEUR 50. The net proceeds were used in accordance with Arise’s green financing framework.
The sale of the wind farm project Kölvallen, 42 turbines with a total nominal capacity of 277 MW, was completed in July 2022. The sale is expected to have a positive earnings effect of approximately MEUR 90 between 2022 and 2025, of which approximately MEUR 65 was recognised when the project was sold.
In conjunction with the sale of Kölvallen, Arise also acquired a shareholding of about 9% in the project. This is in line with Arise’s ambition to be a more dynamic developer with a focus on maximising value creation for its project portfolio.

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

In January 2023, Arise signed an agreement with Persson Invest, one of Sweden’s largest private landowners. The agreement pertains to development rights for potential wind power projects on a large portion of Persson Invest’s land, for which the company sees good potential to realise new wind power. According to the initial assessment from the company, the potential amounts to approximately 500 MW.

Halmstad, 16 February 2023
Arise AB (publ)

For further information, please contact:
Per-Erik Eriksson, CEO Arise AB, +46 702 409 902
Markus Larsson, CFO Arise AB, +46 735 321 776

13 februari, 2023

Bokslutskommuniké 2022 CA Fastigheter AB (publ)

Hyresintäkterna ökade med 9,4 % och uppgick till 770 (704) Mkr.
Driftsöverskottet ökade med 8,2 % och uppgick till 494 (458) Mkr, vilket ger en överskottsgrad på 64,3 (65,0) %.
Förvaltningsresultatet minskade med 1,0 % och uppgick till 311 (314) Mkr. Minskningen beror främst på minskade intäkter från finansförvaltningen.
Resultat från projektverksamhet uppgick till 104 (110) Mkr.
Anläggningsfastigheternas marknadsvärde uppgick till 14 884 (14 460) Mkr. Årets orealiserade värdeförändringar på fastigheter uppgick till -345 (1 107) Mkr.
Resultat efter skatt uppgick till 330 (1 701) Mkr. Minskningen beror på de orealiserade värdeförändringarna av fastigheter.

Väsentliga händelser under året:

CA Fastigheter har under året förvärvat fastigheten Smörbollen 52, belägen i Malmö.
I området Nordskogen i Borås har den obebyggda fastigheten Hevea 6 förvärvats, där byggnation av 15 000 kvm lagerfastighet pågår. Tillsammans med den angränsande fastigheten Hevea 4 omfattar dessa båda fastigheter cirka 190 000 kvm markareal med möjlighet till byggnation på hälften av ytan.
Under året har BRF Strandlyckan 3 i Lomma och BRF Fyren på Varsholmen i Kalmar färdigställts och frånträtts. På Varvsholmen i Kalmar pågår projekten BRF Kompassen och BRF Bojen. Ytterligare ett BRF projekt, etapp 1 av Kvirkelhusen i Lomma, har påbörjats och försäljning pågår. Därtill planeras för ytterligare en etapp av Kvirkelhusen, i nära anslutning till etapp 1.
I början av året blev CA Fastigheter AB (publ) miljöcertifierade enligt ISO14001:2015. Det gröna arbetet med energibesparande åtgärder har fortsatt haft ett stort fokus inom verksamheten.
I juli publicerades CA Fastigheters första investerarrapport med anledning av den emitterade gröna obligationen på 500 Mkr. CA Fastigheter har sedan tidigare en kreditrating enligt BBB-, som vid den årliga kreditbedömningen bibehölls.

För ytterligare information, var god kontakta:

Andreas von Hedenberg, VD

+4673-965 58 19, andreas.von.hedenberg@cafastigheter.se