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 2018 2019 2020
Rental Income 1091 1183 1249
Rental growth (%) 22,3 8,5 5,6
Net operating income 829 900 952
NOI margin (%) 76 76 76,2
CEPS Adj 15,26 16,2 17,15
CEPS Adj. growth (%) 29,8 6,1 5,9
DPS 5,75 6,25 6,75
EPRA NAVPS 169,53 189,96 211,51
EPS 22 13,25 14,19
EPS Adj 22 13,25 14,19
P/CEPS Adj. (x) 14,4 15,1 14,3
P/E Adj. (x) 10 18,5 17,2
P/EPRANAV (x) 1,3 1,29 1,16
Implicit yield (%) 5,1 4,7 4,9
div.yield (%) 2,6 2,6 2,8
LTV (%) 55,9 55,1 54,1

Main shareholders

Catena

Main shareholders Share capital % Voting shares % Verified
Erik Paulsson & Bolag 29.8 % 29.8 % 31 Jan 2019
Sten Mörtstedt 10.5 % 10.5 % 31 Jan 2019
Länsförsäkringar Fonder 6.3 % 6.3 % 31 Jan 2019
Cohen & Steers 5.0 % 5.0 % 11 Jan 2019
Jan Persson 4.5 % 4.5 % 31 Jan 2019
Gustaf Hermelin 4.1 % 4.1 % 15 Nov 2018
Nordea Fonder 2.6 % 2.6 % 31 Dec 2018
Skagen Fonder 2.3 % 2.3 % 31 Jan 2019
SEB Fonder 2.3 % 2.3 % 31 Dec 2018
TR Property Investment Trust 1.4 % 1.4 % 30 Nov 2018
Source: Holdings by Modular Finance AB

Insider list

Catena

Name
Sofie Bennsten
Peter Andersson
Benny Thögersen
Gustaf Hermelin
Gustaf Hermelin
GUSTAF HERMELIN
GUSTAF HERMELIN
Benny Thögersen
Mats Carreman
Backahill Kil AB
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