Catella Q2 2026 slides: revenue drops 47% but underlying trends improve

Catella reported a significant 47% drop in revenue to SEK 400 million in Q2 2026, but management highlighted improving underlying trends. The company's stock fell 3.93% to $18.56, near its 52-week low. Despite the revenue decline, transaction activity remained modestly positive in select markets, and cost management was disciplined.

EBIT fell 97% to SEK 8 million, and the EBIT margin dropped to 2% from 40%. Net loss widened to SEK 12 million, or SEK -0.14 per share, after a profit of SEK 3.62 per share the previous year. However, excluding the impact of Kaktus Towers and CatWave disposals, underlying net revenue rose by 5%. Operating expenses fell by 6%, and the company maintained profitability in its core segments.

Investment Management faced a 10% revenue decline, but maintained a 15% EBIT margin. Corporate Finance saw a 31% increase in transaction volumes and improved underlying net revenue and profitability. Balance Sheet Investments sharply declined, with revenue dropping 83%. The company's diversified business model, combining advisory services and recurring fees, provides resilience.

Catella invested in capital raising capabilities and operational efficiency, repurchasing shares and launching a Danish joint venture.