Year-end Report2014 Catella AB
Specialised financial advisory services and asset management CORPORATE FINANCE ASSET MANAGEMENT Transaction advisory services on Active management in property, sales and acquisitions fixed-income and equities Research, strategic consultancy and valuation services Research & Funds valuation Sales & acquisitions Wealth management Card & payment solutions Financing Consumer Financial advisory services and Tailored wealth funding solutions via the bond management and asset Card issuance and market card acquiring management 2 19 FEBRUARI 2015 CATELLA
Bank profitable, Swedish funds still making strong progress Fourth quarter NET SALES PER QUARTER Net sales SEK 492 M (331), and profit before tax 500 SEK 102 m (1) 400 Seasonally strong quarter SEK M Sales increased by 32% (excl. IPM) 300 Transaction volumes highest in five years 200 Healthy inflows and management earnings 100 2011 2012 2013 2014 Full year Q1 Q2 Q3 Q4 Net sales SEK 1,445 M (1,020) and profit before tax SEK 248 M (-7) PROFIT/LOSS BEFORE TAX PER QUARTER, Volumes under management: Net inflows were SEK 120 19.7 Bn (7.2) 90 Earnings per share SEK 2.66 (-0.26) 60 SEK M Equity per share SEK 15.33 kr (11.40) 30 0 Attributable to shareholders of parent company -30 SEK 14.24 (11.07) -60 The Board of Directors is proposing a dividend of 2011 2012 2013 2014 SEK 0.20 (0.00) per class A and B share for 2014 Q1 Q2 Q3 Q4 3 19 FEBRUARY 2015 CATELLA
Consolidated Income Statement 3 Months 12 Months 2014 2013 2014 2013 SEK M Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net sales 492 331 1,445 1,020 Other operating income 3 6 12 17 Total income 496 338 1,457 1,038 Direct assigment costs and commission -83 -63 -289 -217 Income excl. direct assignment costs and commission 412 275 1,169 821 Operating expenses -329 -270 -1,002 -827 Operating profit/loss * 83 5 167 -6 Amortisation of acquisition-related intangible assets -2 -2 -7 -6 Items affecting comparability 0 0 0 0 Operating profit/loss 81 4 160 -12 Financial income and expense - net 21 -3 88 5 Profit/loss before tax 102 1 248 -7 Tax 0 -5 -20 -14 Net profit/loss for the period 102 -3 227 -21 KEY FIGURES Operating margin, % 17 2 11 -1 21 16 Profit margin, % -1 -2 Number of employees, at end of period - - 489 431 1.18 2.66 Earnings per share, SEK * -0.04 -0.26 Equity per share, SEK * - - 14.24 11.07 * Attributable to shareholders of the Parent Company. ** Rörelseresultat före förvärvsrelaterade and jämförelsestörande poster. 4 19 FEBRUARI 2015 CATELLA
Financial position as of 31 December 2014 Total assets: SEK 4,356 M (3,483) TOTAL ASSETS Q4 2014, % Corporate Finance Total equity: SEK 1,252 M (932) 9% Other 11% Equity/assets ratio: 29% (27) Cash and cash equivalents: SEK 2,532 M (1,893), of which: Banking operation SEK 1,918 M (1,563) Other entities SEK 614 M (330 ) Asset Cash flow from operating activities Q4: Management 80% SEK -17 M (-71) TOTAL EQUITY Q4 2014, % Capital adequacy quotient consolidated financial Corporate Finance situation: 22.2% (18.3) Other 19% 25% Satisfies requirement of >8%: Asset Management 56% 5 19 FEBRUARY 2015 CATELLA
Corporate Finance operating segment
Property transaction volumes, Corporate Finance CATELLA ´ S PROPERTY TRANSACTION VOLUME Fourth quarter PER QUARTER Property transaction volumes in Europe, 40 excluding the UK: SEK 463 Bn (320) 30 Increase of 45% compared to Q4 2013 SEK Bn 20 Catella’s property transaction volumes: 10 SEK 36.1 Bn (13.0), of which: Sweden SEK 14.0 Bn (8.1) 0 2010 2011 2012 2013 2014 France SEK 13.2 Bn (2.8) Q1 Q2 Q3 Q4 Full year CATELLA ´ S PROPERTY TRANSACTION VOLUME Property transaction volumes in Europe, PER COUNTRY Q4 2014, % Other 1% excluding the UK: SEK 1,239 Bn (884) Germany 11% Increase of 40% compared to full year 2013 Sweden Denmark Catella’s market share: 6% (6) 39% 12% Sweden: 21% (25) France: 15% (15) Sweden’s leading property advisor and one of France the top three in France in 2014 37% 7 19 FEBRUARY 2015 CATELLA
Selected Corporate Finance assignments in 2014 8 19 FEBRUARI 2015 CATELLA
Sales and results of operations, Corporate Finance Fourth quarter NET SALES PER QUARTER, Net sales SEK 215 M (145) and profit before tax 250 SEK 53 M (9) 200 Strong close to the year SEK M 150 Biggest increases in France and Germany 100 50 Full year Net sales SEK 527 M (397) and profit before tax 0 2010 2011 2012 2013 2014 SEK 80 M (11) Q1 Q2 Q3 Q4 Positive earnings across all businesses PROFIT/LOSS BEFORE TAX PER QUARTER, NET SALES PER SERVICE SEGMENT Q4 2014, % Valuation and 60 research 7% 40 Financing SEK M 20 12% 0 Sales and -20 acquisitions 59% -40 2010 2011 2012 2013 2014 Other 22% Q1 Q2 Q3 Q4 9 19 FEBRUARY 2015 CATELLA
Income Statement, Corporate Finance 3 Months 12 Months 2014 2013 2014 2013 SEK M Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net sales 215 145 527 397 Other operating income 1 1 1 6 Total income 216 146 529 403 Direct assigment costs and commission -13 -8 -32 -19 Income excl. direct assignment costs and commission 203 138 497 384 Operating expenses -149 -129 -417 -372 Operating profit/loss * 54 9 79 11 Amortisation of acquisition-related intangible assets 0 0 0 0 Operating profit/loss 54 9 79 11 Financial income and expense - net 0 0 1 0 Profit/loss before tax 53 9 80 11 Tax -11 -6 -25 -10 Net profit/loss for the period 42 3 55 1 KEY FIGURES Operating margin, % 25 6 15 3 20 10 Profit margin, % 2 0 - 207 Number of employees, at end of period - 207 36.1 73.1 Property transaction volume for the period, SEK Bn 13.0 50.3 * Attributable to shareholders of the Parent Company. ** Rörelseresultat före förvärvsrelaterade and jämförelsestörande poster 10 19 FEBRUARI 2015 CATELLA
Asset Management operating segment
Volumes under management, Asset Management CATELLA ´ S VOLUME UNDER MANAGEMENT Fourth quarter Volumes under management as of 31 130 December: SEK 122.4 Bn (52.3), of which IPM 110 SEK 45.4 Bn SEK Bn 90 Net inflows of SEK 5.7 Bn (4,6), of which: 70 Equity, hedge and fixed-income funds: SEK 3.3 Bn (2.1) 50 Property funds: SEK 2.3 Bn (1.9) 30 Wealth Management: SEK 0.1 Bn (0.6) 2010 2011 2012 2013 2014 VOLUME UNDER MANAGEMENT PER SERVICE Full year SEGMENT Q4 2014, % Volumes under management, excl. IPM's Wealth management opening balance of SEK 42.8 Bn, increased by 9% SEK 27.2 Bn (11.1) Property funds Net inflows were SEK 19.7 Bn (7.2), of which: 24% Equity, hedge and fixed-income funds: SEK 12.9 Equity, Bn (4.9) hedge and fixed income Property funds: SEK 5.5 Bn (1.8) funds 67% Wealth Management: SEK 1.3 Bn (0.6) 12 19 FEBRUARY 2015 CATELLA
Sales and results of operations, Asset Management Fourth quarter NET SALES PER QUARTER Net sales SEK 282 M (188) and profit before 300 tax 40 M (7) 250 SEK M Funds operation reported profit of SEK 40 200 M (26) 150 Banking operation reported profit of SEK 7 100 M (-18) 50 2010 2011 2012 2013 2014 Q1 Q2 Q3 Q4 Full year Net sales SEK 925 M (630) and profit before PROFIT/LOSS BEFORE TAX PER QUARTER, tax SEK 117 M (17) 50 Funds operation reported profit of SEK 152 40 M (84) 30 SEK M 20 Banking operation reduced profit by SEK - 10 16 M (-63) 0 -10 2010 2011 2012 2013 2014 Q1 Q2 Q3 Q4 13 19 FEBRUARY 2015 CATELLA
Income Statement, Asset Management 3 Months 12 Months 2014 2013 2014 2013 SEK M Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net sales 282 188 925 630 Other operating income 2 5 11 5 Total income 284 193 936 635 Direct assigment costs and commission -73 -56 -260 -200 Income excl. direct assignment costs and commission 211 136 675 435 Operating expenses -171 -128 -556 -414 Operating profit/loss * 40 8 119 20 Amortisation of acquisition-related intangible assets -2 -2 -7 -6 Operating profit/loss 38 7 112 15 Financial income and expense - net 2 0 5 2 Profit/loss before tax 40 7 117 17 Tax -9 -14 -37 -20 Net profit/loss for the period 31 -7 80 -3 KEY FIGURES Operating margin, % 14 4 13 3 11 9 Profit margin, % -4 0 Number of employees, at end of period - - 271 211 122.4 122.4 Asset under management at end of period, SEK Bn 52.3 52.3 * Attributable to shareholders of the Parent Company. ** Rörelseresultat före förvärvsrelaterade and jämförelsestörande poster 14 19 FEBRUARI 2015 CATELLA
Asset Management, funds operation Properties Stable inflows to property funds Positive close to the year for French start-up Equity, hedge and fixed-income funds Healthy net inflows, primarily in fixed-income and hedge funds Catella still winning market shares on the Swedish funds market Healthy management earnings in IPM 15 19 FEBRUARY 2015 CATELLA
Recommend
More recommend
