Catella continues to grow and total income increased by 10% in year-on-year terms. The increase was largely due to fixed earnings as a result of continued growth in Property Investment Management which increased assets under management by some SEK 34 Bn year-on-year. Operating profit/loss decreased by SEK 18 M burdened by increased personnel and rental costs in connection with the start-up of new operations in Property Investment Management and new product initiatives, which are an important part of our strategy for continued growth. Net financial income/expense in the quarter was negatively affected by impairment losses of SEK 85 M attributable to the loan portfolios, which had a book value of SEK 141 M at the end of the third quarter.
Invitation to presentation of the Interim Report
Catella will be presenting the Interim Report and answering questions in a teleconference today 14 November 2019 at 9 a.m. CET. The presentation will be in English and will be made by Catella's CEO and President Knut Pedersen and CFO Marcus Holmstrand. To participate in the teleconference, go to www.catella.com or call +46 (0)8 505 58 359.
* 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). Accordingly, actual settlement at year end may be higher, lower or entirely absent relative to the indicated amount. Amounts can never fall below zero.
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