Catella (CAT) Q3 2025 earnings summary

Executive summary

• AUM reached SEK 160 Bn, driven by new mandates and strategic acquisitions, with continued pan-European growth focus.

• CEO transition in August 2025, with Rikke Lykke appointed as Group CEO and Daniel Gorosch as Head of Corporate Finance Europe.

• Strategy centers on simplifying operations, reducing risks, and maximizing shareholder value.

• Maintained strong liquidity and a solid equity ratio, supporting future growth.

Financial highlights

• Q3 2025 net sales were SEK 378 M, nearly flat year-over-year, with operating profit at SEK 7 M, down from SEK 19 M, mainly due to lower transactional revenues.

• Net profit attributable to shareholders was SEK -28 M (Q3 2024: SEK -23 M); EPS: SEK -0.32 (Q3 2024: SEK -0.26).

• Cash and cash equivalents at period end were SEK 1,590 M, exceeding current debt.

• Equity/assets ratio stood at 48% as of 30 September 2025.

• 9M 2025 net sales: SEK 1,425 M (9M 2024: SEK 1,227 M); operating profit: SEK 279 M (9M 2024: SEK 59 M).

Outlook and guidance

• Management expects improved transactional activity in Q4 and 2026, with the Nordics likely to outperform continental Europe.

• Focus remains on growing AUM, optimizing the investment portfolio, and increasing recurring revenues.

• Cautious optimism persists due to macroeconomic and geopolitical uncertainties.