Modern and strategically located logistics properties

Catena

Catena is Sweden's largest real estate company focusing on logistics properties, and the company's real estate portfolio is concentrated around Stockholm, Malmö, Göteborg, Helsingborg and Jönköping. The company has a long history in various forms, but the current Catena took shape in 2013 when most of Brinova's property portfolio was acquired through a reverse merger. In 2015, Catena divested a large development property in Solna to Fabege and acquired the property company Tribona, which was consolidated in early 2016.

Financials

CATENA

SEKm 2017 2018 2019
Rental Income 892 1087 1169
Rental growth (%) 13,4 21,9 7,6
Net operating income 672 824 887
NOI margin (%) 75,3 75,8 75,8
CEPS Adj 11,76 14,96 15,95
CEPS Adj. growth (%) 35,4 27,2 6,7
DPS 4,5 5 5,5
EPRA NAVPS 149,85 172,27 192,93
EPS 16,96 20,73 13,05
EPS Adj 16,96 20,73 13,05
P/CEPS Adj. (x) 13,2 13,5 12,7
P/E Adj. (x) 9,2 9,8 15,5
P/EPRANAV (x) 1,04 1,18 1,05
Implicit yield (%) 4,9 5 5,3
div.yield (%) 2,9 2,5 2,7
LTV (%) 56,9 58,3 57,4

Main shareholders

Catena

Main shareholders Share capital % Voting shares % Verified
Erik Paulsson 29.8 % 29.8 % 30 Sep 2018
Sten Mörtstedt 10.5 % 10.5 % 30 Sep 2018
Länsförsäkringar Fonder 7.1 % 7.1 % 30 Sep 2018
Gustaf Hermelin 4.8 % 4.8 % 31 Dec 2017
Jan Persson 4.5 % 4.5 % 30 Sep 2018
Handelsbanken Fonder 3.0 % 3.0 % 30 Sep 2018
Cohen & Steers 2.1 % 2.1 % 30 Sep 2018
Nordea Fonder 1.8 % 1.8 % 30 Sep 2018
SEB Fonder 1.7 % 1.7 % 30 Sep 2018
Skagen Fonder 1.5 % 1.5 % 30 Sep 2018

Insider list

Catena

Name
Gustaf Hermelin
GUSTAF HERMELIN
GUSTAF HERMELIN
Benny Thögersen
Mats Carreman
Backahill Kil AB
Backahill Kil AB
Hermelin, Gustaf
Hermelin, Gustaf
Paulsson, Erik
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