Catella publ : AB – Interim Report January-March 2020

The beginning of 2020 was characterized by the Corona pandemic, which is having a significant effect on all businesses, including Catella's. We noted particularly heavy outflows from Equity, Hedge and Fixed Income Funds towards the end of the quarter. For remaining operations, total income amounted to SEK 503 M in the first quarter of 2020, up SEK 49 M on the first quarter 2019. The increase was mainly attributable to Property Investment Management. Operating profit increased by SEK 10 M, and amounted to SEK 72 M. Total assets under management decreased by SEK 12 Bn in year-on-year terms, adjusted for the terminated product Systematic Equity, and amounted to SEK 156 Bn at the end of the period, corresponding to a decrease of SEK 15 Bn on the end of 2019. Catella's total cash and cash equivalents for remaining operations amounted to SEK 920 M at the end of the period, of which the majority in Catella's subsidiaries.

January - March 2020

• Total income SEK 503 M (454)
• Net sales SEK 449 M (447)
• Operating profit/loss SEK 72 M (62)
• Profit/loss before tax SEK 46 M (45)
• Profit for the period from remaining operations SEK 24 M (23)
• Profit/loss for the period from disposal group held for sale SEK -14 M (110)
• Profit/loss for the period SEK 10 M (133), of which SEK 0 M (111) attributable to shareholders of the Parent Company
• Earnings per share* SEK 0 (1.32)
• Equity* SEK 1,577 M (1,604)
• Equity per share* SEK 18.28 (19.06)
• Assets under management SEK 156.2 Bn (168.2***)
• Variable earnings**, which will be recognized for profit at year-end, in Systematic Funds totalled SEK 0 M at the end of the period.
• Against the background of the coronavirus pandemic, the Board has decided to revoke the proposed dividend of SEK 0.90 per share, and proposes to the Annual General Meeting that no dividend be paid. Catella's ambition is to convene an Extraordinary General Meeting in the second half of 2020 to address the matter of dividends.

* Attributable to shareholders of the Parent Company. Includes disposal group held for sale. ** Variable earnings calculated on Systematic Macros' performance-based management fee. In order for the performance-based management fee to be settled at year end, and recognized for profit/loss, returns must be higher than comparative indices and the most recent level settled (High watermark). *** Adjusted for the product Systematic Equity.