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ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius

Market activity has bottomed out

Market activity remains muted. We lower 2025 EBIT on slower recovery in activity. Easy comps with EV/EBIT of 3-5x and 4-8% dividend yield.

ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius

Catella AB: 1 director

A director at Catella AB maiden bought 10,000 shares at 30.593SEK and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cle...

ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius

Challenging market start for 2024

Market activity remains muted. EBIT estimates cut by 3% for 2025e-26e. 2024e EV/EBIT of 4x with 4% dividend yield.

ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius
ABGSC Financials Research ... (+2)
  • ABGSC Financials Research
  • Patrik Brattelius

Awaiting better market conditions

Activity remains subdued in Q1'24e. We cut '24e EBIT by 2%, driven by lower corporate finance. 2024e EV/EBIT of 4x with 4% dividend yield.

Patrik Brattelius
  • Patrik Brattelius

Catella - Investment Management carries the day

Q3 beat driven by Investment Management AUM and postponed divestments lift ’23-24 EBIT 2023e EV/EBIT of 5x, >50% below avg. of peers

Patrik Brattelius
  • Patrik Brattelius

Catella - Investment mgmt. drives earnings beat in Q3

Q3 adj. EBIT of SEK 62m, 24% above ABGSC AUM growth of 5% q-o-q, will drive positive revisions Earnings beat with positive revisions, stock up today

Patrik Brattelius
  • Patrik Brattelius

Catella - Slower quarter but main scenario still intact

Q3’22e EBIT of SEK 50m, down 2% y-o-y Estimates unchanged for 2022-2024 2023e EV/EBIT of 7x with 6-11% dividend yield

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