Catella - Kaktus divestment profit ~10% of mkt cap
2 maj, 08:45
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Kaktus divestment to boost Q2’25e EBIT by ~260mCatella has announced that they have signed an agreement to divest its biggest property investment project, Kaktus, which represents ~50% of their total property investment project book. The property is being divested to Quantum, which has acquired the asset on behalf of an institutional investor. The company highlights that the transaction is based on an underlying property value of SEK 2.1bn and is expected to contribute SEK ~260m to Catella’s EBIT in Q2’25. Positive - divestment profit ~10% of mkt cap and strong signalling valueIn addition to the large EBIT contribution from the divestment, it’s also strengthens the liquidity and cash position for Catella significantly, where we expect the cash position in Catella almost dubbing post the transaction (vs the Q4’24 level), reaching SEK ~1.7bn, all else equal. This divestment of Kaktus was bang in-line with what ABGSC had in its forecast, as we had forecasted the project to be divested in Q2’25e and yield an EBIT contribution 260m. We see this transaction as positive as this is a major divestment for Catella, which yields an EBIT representing ~10% of market cap. It also significantly boost the cash and liquidity, opening up possibilities for more capital repatriation to shareholders. Lastly we see the divestment has a signalling value that the transaction market starting to opening up, which benefits Catella. |
Läsaren av innehållet kan anta att ABG Sundal Collier har erhållit eller kommer att erhålla betalning för utförandet av finansiella företagstjänster från bolaget. Ersättningen är på förhand avtalad och är inte beroende av innehållet.
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Catella - Kaktus divestment profit ~10% of mkt cap
2 maj, 08:45
|
Kaktus divestment to boost Q2’25e EBIT by ~260mCatella has announced that they have signed an agreement to divest its biggest property investment project, Kaktus, which represents ~50% of their total property investment project book. The property is being divested to Quantum, which has acquired the asset on behalf of an institutional investor. The company highlights that the transaction is based on an underlying property value of SEK 2.1bn and is expected to contribute SEK ~260m to Catella’s EBIT in Q2’25. Positive - divestment profit ~10% of mkt cap and strong signalling valueIn addition to the large EBIT contribution from the divestment, it’s also strengthens the liquidity and cash position for Catella significantly, where we expect the cash position in Catella almost dubbing post the transaction (vs the Q4’24 level), reaching SEK ~1.7bn, all else equal. This divestment of Kaktus was bang in-line with what ABGSC had in its forecast, as we had forecasted the project to be divested in Q2’25e and yield an EBIT contribution 260m. We see this transaction as positive as this is a major divestment for Catella, which yields an EBIT representing ~10% of market cap. It also significantly boost the cash and liquidity, opening up possibilities for more capital repatriation to shareholders. Lastly we see the divestment has a signalling value that the transaction market starting to opening up, which benefits Catella. |
Läsaren av innehållet kan anta att ABG Sundal Collier har erhållit eller kommer att erhålla betalning för utförandet av finansiella företagstjänster från bolaget. Ersättningen är på förhand avtalad och är inte beroende av innehållet.
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