New Risk • 2h
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • 2h
Second quarter 2026 earnings released: EPS: kr10.72 (vs kr4.06 in 2Q 2025) Second quarter 2026 results: EPS: kr10.72 (up from kr4.06 in 2Q 2025). Revenue: kr809.0m (up 26% from 2Q 2025). Net income: kr712.0m (up 191% from 2Q 2025). Profit margin: 88% (up from 38% in 2Q 2025). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 06
Catena AB (publ) to Report Q1, 2027 Results on Apr 29, 2027 Catena AB (publ) announced that they will report Q1, 2027 results on Apr 29, 2027 Declared Dividend • May 20
Dividend of kr4.75 announced Shareholders will receive a dividend of kr4.75. Ex-date: 26th October 2026 Payment date: 30th October 2026 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 25
Catena AB (publ) Approves Dividend for the Year 2025 Catena AB (publ) resolved that a dividend of SEK 9.50 per share be paid, to be disbursed on two occasions, each at SEK 4.75 per share. The record dates for receipt of the dividend were determined to be 27 April 2026 and 27 October 2026. Payment is expected to be made via Euroclear Sweden AB 3 banking days after each respective record date. Announcement • Apr 23
Catena AB (publ) Elects Karl Thorngren as an Ordinary Board Member Catena AB (publ) at its annual general meeting held on April 23, 2026 elected Karl Thorngren as an ordinary Board Member. Announcement • Mar 03
Catena Appoints Johan Jaxell as Head of Technology and Sustainability and A Member of Management Team Catena appoints Johan Jaxell as Head of Technology and Sustainability and a member of Catena's management team. Johan Jaxell has been employed by Catena since 2024. Before joining Catena Johan worked as Due Dilligence Manager and Manager of group energy solutions at Heimstaden and in various positions within Sweco. Once the management change has been implemented in March 2026, Catena's management team will comprise the following individuals and positions. CEO Jörgen Eriksson, Head of Property Johan Franzén, Head of Technology and Sustainability Johan Jaxell, Head of Business and Projects Adam Ljungviken, Head of HR Malin Nissen, Head of Marketing and Communications Annie Nyblom and CFO Magnus Thagg. Announcement • Feb 21
Catena AB (publ), Annual General Meeting, Apr 23, 2026 Catena AB (publ), Annual General Meeting, Apr 23, 2026. Announcement • Feb 06
Catena Announces Departure of Head of Sustainability Amanda Thynell, Effective Spring 2026 Catena announced that Amanda Thynell, Head of Sustainability at Catena since 2022, has decided to leave the company to take on new professional challenges in the field of sustainable community development. During her time at Catena, Amanda has led and further developed the company's strategic sustainability initiatives. This work has included target-setting and governance matters as well as initiatives to increase energy efficiency and strengthen industry collaboration, including the #HusFörHus initiative. Amanda will leave Catena during the spring of 2026. Meeting date: February 5, 2026. Announcement • Apr 29
Catena AB (Publ) Approves Dividend for 2024 Catena AB (publ) at its Annual General Meeting held on 28 April 2025 resolved on a dividend of SEK 9.00 per share be paid, to be disbursed on two occasions, each at SEK 4.50 per share. The record dates for receipt of dividends were determined to be 30 April 2025 and 30 October 2025. Payment is expected to be made via Euroclear Sweden AB 3 banking days after each respective record date. Announcement • Mar 24
Catena AB (Publ) Proposes Dividend for 2024, Payable on 6 May 2025 and 4 November 2025 The Board of Catena AB (publ) proposed that a dividend of SEK 9.00 per share be paid for 2024 (previously SEK 8.50 per share) to be disbursed on two occasions, each at SEK 4.50 per share. The record dates for receipt of dividends are proposed as 30 April 2025 and 30 October 2025. If the Meeting approves the proposal, payment is expected to be made from Euroclear Sweden AB on 6 May 2025 and 4 November 2025, respectively. Announcement • Mar 07
Catena AB (publ), Annual General Meeting, Apr 28, 2025 Catena AB (publ), Annual General Meeting, Apr 28, 2025. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: kr3.84 (vs kr4.11 in 3Q 2023) Third quarter 2024 results: EPS: kr3.84. Revenue: kr546.0m (up 21% from 3Q 2023). Net income: kr232.0m (up 13% from 3Q 2023). Profit margin: 43% (down from 45% in 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Upcoming Dividend • Oct 21
Upcoming dividend of kr4.25 per share Eligible shareholders must have bought the stock before 28 October 2024. Payment date: 01 November 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.4%). Reported Earnings • Jul 07
Second quarter 2024 earnings released: EPS: kr4.46 (vs kr8.20 in 2Q 2023) Second quarter 2024 results: EPS: kr4.46 (down from kr8.20 in 2Q 2023). Revenue: kr527.0m (up 9.8% from 2Q 2023). Net income: kr245.0m (down 40% from 2Q 2023). Profit margin: 47% (down from 85% in 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Recent Insider Transactions • Jun 05
Chief Executive Officer recently bought €23k worth of stock On the 31st of May, Jörgen Eriksson bought around 500 shares on-market at roughly €46.57 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jörgen has been a buyer over the last 12 months, purchasing a net total of €40k worth in shares. Buy Or Sell Opportunity • May 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €43.20. The fair value is estimated to be €35.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 46%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to decline by 15% in the next 2 years. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Director Joost Uwents was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 28
Dividend of kr4.25 announced Shareholders will receive a dividend of kr4.25. Ex-date: 28th October 2024 Payment date: 1st November 2024 Dividend yield will be 12%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 47% over the next 3 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 27
Catena AB (Publ) Approves Dividend for the Year 2023, Payable on 3 May 2024 and 1 November 2024, Respectively Catena AB (publ) at its Annual General Meeting held on 25 April 2024, approved a dividend of SEK 8.50 per share be paid for 2023, to be disbursed on two occasions, each at SEK 4.25 per share. The record dates for receipt of dividends were determined to be 29 April 2024 and 29 October 2024. Payment is expected to be made via Euroclear Sweden AB on 3 May 2024 and 1 November 2024. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: kr2.35 (vs kr8.90 loss in 1Q 2023) First quarter 2024 results: EPS: kr2.35 (up from kr8.90 loss in 1Q 2023). Revenue: kr493.0m (up 10% from 1Q 2023). Net income: kr120.0m (up kr564.0m from 1Q 2023). Profit margin: 24% (up from net loss in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Upcoming Dividend • Apr 19
Upcoming dividend of kr4.25 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 03 May 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.6%). Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: kr19.73 (vs kr44.68 in FY 2022) Full year 2023 results: EPS: kr19.73 (down from kr44.68 in FY 2022). Revenue: kr1.85b (up 20% from FY 2022). Net income: kr986.0m (down 51% from FY 2022). Profit margin: 53% (down from 129% in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. New Risk • Mar 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (53% net profit margin). Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Announcement • Mar 13
Catena AB (publ) has filed a Follow-on Equity Offering. Catena AB (publ) has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 4,660,344
Transaction Features: Subsequent Direct Listing Announcement • Mar 09
Catena AB (Publ) Announces Nomination Committee for 2024 Annual General Meeting Catena AB (publ) announced that the Nomination Committee in preparation for the 2024 Annual General Meeting consists of: Lennart Mauritzson, Chairman of the Board, appointed by Backahill Inter AB Markus Wallentin, Chairman of the Nomination Committee, appointed by WDP NV/SA, Johannes Wingborg, appointed by Länsförsäkringar Fondförvaltning AB, Benjamin Woesthoff, appointed by PGGM Investments. Declared Dividend • Mar 04
Final dividend of kr4.25 announced Shareholders will receive a dividend of kr4.25. Ex-date: 26th April 2024 Payment date: 3rd May 2024 Dividend yield will be 12%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 4.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 24
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to €39.20. The fair value is estimated to be €30.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 39%. For the next 3 years, revenue is forecast to grow by 9.5% per annum. Earnings are also forecast to grow by 1.6% per annum over the same time period. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: kr19.74 (vs kr44.68 in FY 2022) Full year 2023 results: EPS: kr19.74 (down from kr44.68 in FY 2022). Revenue: kr1.81b (up 17% from FY 2022). Net income: kr986.0m (down 51% from FY 2022). Profit margin: 55% (down from 129% in FY 2022). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Reported Earnings • Oct 28
Third quarter 2023 earnings released: EPS: kr4.11 (vs kr6.32 in 3Q 2022) Third quarter 2023 results: EPS: kr4.11 (down from kr6.32 in 3Q 2022). Revenue: kr452.0m (up 16% from 3Q 2022). Net income: kr205.0m (down 25% from 3Q 2022). Profit margin: 45% (down from 70% in 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% decline forecast for the Real Estate industry in Germany. Upcoming Dividend • Oct 25
Upcoming dividend of kr4.13 per share at 2.4% yield Eligible shareholders must have bought the stock before 01 November 2023. Payment date: 07 November 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (3.8%). Announcement • Oct 15
Catena AB (Publ) Appoints Nomination Committee in Preparation for the 2024 Annual General Meeting Catena AB (publ) appointed a Nomination Committee consisting of representatives of the four shareholders and the Chairman. If any one of the four shareholders declines to appoint a representative, the Chairman shall urge the next-largest shareholder to appoint a shareholder representative. In accordance with the decision, the members of the Nomination Committee and the shareholders they represent shall be announced as soon as they have been appointed. The Nomination Committee now has the following composition: Lennart Mauritzson appointed by Backahill Inter AB and Chairman of the Board Markus Wallentin appointed by WDP NV/SA, Johannes Wingborg appointed by Länsförsäkringar Fondförvaltning AB, Benjamin Woesthoff appointed by PGGM Investments. The Chairman of the Nomination Committee is Markus Wallentin, while the Chairman of the Board, Lennart Mauritzson, convenes the Committee. Combined, the four shareholder representatives hold approximately 41.95% of the votes in Catena as of 1 October 2023. Announcement • Oct 10
Catena Begins Development of Logistics Position Soderasen Catena began development of Logistics Position Söderåsen. Catena has owned the Vrams Gunnartorp 1:15 property in Bjuv municipality for some time. The property is located in an excellent logistics location close to the E4 motorway, with quick access to the E6 motorway and it comprises a total land area of 565,000 square meters. The zoning plan for the area has now gained legal force, which opens up for the establishment of sustainable and efficient logistics facilities that can enable 2000 new jobs. Logistics facilities should be attractive workplaces where people thrive. When building, Catena therefore sets high standards and works with certifications as a tool to ensure robust and resilient buildings. Measures to minimize the CO2 footprint of buildings are an important part of both project development and operation. Catena also seeks smart solutions for energy supply, where a combination of solar cells and battery storage is becoming increasingly common. Furthermore, Catena places high demands on architectural design and promotes biodiversity at logistics facilities by creating well-considered green spaces. The land in question is located close to the border with Åstorp municipality at Åstorp's southern industrial area. Seafrigo already operates there in a newly built logistics facility that Catena built in 2021 on the Broby 57:5 property. Announcement • Oct 06
Catena AB (publ) (OM:CATE) completed the acquisition of Bockasjö AB from Bockasjö Capital Ab, Frankenius Equity AB and senior executives for approximately SEK 480 million. Catena AB (publ) (OM:CATE) agreed to acquire Bockasjö AB from Frankenius Equity AB, Bockasjö Capital Ab and other senior executives for approximately SEK 460 million on July 4, 2023. Bockasjö Capital Ab will sell 34% shares, Frankenius Equity AB will sell 34%, and senior executives will sell 32% stake in Bockasjö. Additional considerations based on future project of SEK 125 million will be paid via newly issued Catena shares. Joakim Hedin will leave his post as chief executive officer of Bockasjö AB. Bockasjö has three ongoing projects that will be completed after the acquisition, these will be divested to an external party upon completion and will not become part of Catena’s property portfolio. The deal is expected to close in October 2023. 1978980610 acted as legal advisor to Catena AB in the transaction.
Catena AB (publ) (OM:CATE) completed the acquisition of Bockasjö AB from Bockasjö Capital Ab, Frankenius Equity AB and senior executives for approximately SEK 480 million on October 4, 2023. Reported Earnings • Jul 07
Second quarter 2023 earnings released: EPS: kr8.20 (vs kr21.04 in 2Q 2022) Second quarter 2023 results: EPS: kr8.20 (down from kr21.04 in 2Q 2022). Revenue: kr480.0m (up 25% from 2Q 2022). Net income: kr409.0m (down 57% from 2Q 2022). Profit margin: 85% (down from 248% in 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 28% decline forecast for the Real Estate industry in Germany. Announcement • Jul 06
Catena AB (publ) (OM:CATE) agreed to acquire Bockasjö AB from Frankenius Equity AB, Bockasjö Capital Ab and other senior executives for approximately SEK 460 million. Catena AB (publ) (OM:CATE) agreed to acquire Bockasjö AB from Frankenius Equity AB, Bockasjö Capital Ab and other senior executives for approximately SEK 460 million on July 4, 2023. Bockasjö Capital Ab will sell 34% shares, Frankenius Equity AB will sell 34%, and senior executives will sell 32% stake in Bockasjö. Additional considerations based on future project of SEK 125 million will be paid via newly issued Catena shares. Joakim Hedin will leave his post as chief executive officer of Bockasjö AB. Bockasjö has three ongoing projects that will be completed after the acquisition, these will be divested to an external party upon completion and will not become part of Catena’s property portfolio. The deal is expected to close in October 2023. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: kr44.68 (vs kr66.64 in FY 2021) Full year 2022 results: EPS: kr44.68 (down from kr66.64 in FY 2021). Revenue: kr1.54b (up 12% from FY 2021). Net income: kr2.00b (down 26% from FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 31% decline forecast for the Real Estate industry in Germany. 
