Catella AB reported a 47% year-over-year decline in total revenue to SEK 400 million for the second quarter of 2026, driven by lower capital gains and reduced transaction volumes. The Stockholm-based property investment and advisory firm posted a net loss of SEK 12 million, compared with a net profit of SEK 319 million in the same period of 2025. Earnings per share turned negative at SEK -0.14, down from SEK 3.62 a year earlier.
Underlying business performance showed stabilization, with net revenue excluding prior-year disposals rising SEK 16 million and operating expenses declining 6% to SEK 302 million. The company’s investment management segment maintained a 15% EBIT margin despite a 10% revenue drop to SEK 231 million. Corporate finance revenue fell 3% to SEK 116 million, while balance sheet investments revenue plummeted 83% to SEK 62 million due to the absence of prior-year capital gains from asset disposals.
The corporate finance segment reported a 31% surge in property transaction volumes to SEK 11.4 billion, with Continental Europe volumes more than doubling to SEK 2.6 billion. Investment management assets under management grew to SEK 160.8 billion over the trailing twelve months, supported by SEK 15.4 billion in inflows, though currency effects masked underlying net outflows of SEK 0.6 billion. The company operates in 12 European countries with 475 employees.
Catella’s share buyback program, approved at its annual general meeting, repurchased 2.53 million Class B shares at an average price of SEK 20.50, totaling SEK 52 million of the SEK 100 million mandate. Shares fell 3.93% to $18.56 following the results, near the 52-week low of $18.20.
CEO Rikke Lykke highlighted improved resilience from recurring revenue streams, stating the company is not waiting for market conditions to improve before taking action. Analysts at DNB CAR maintained a Hold rating with a SEK 27 target, while Redeye maintained a Buy rating with a SEK 42 base case target.
