Interim report 1 January - 31 March for Catella AB (publ)

First quarter of 2012, january – march

  · Net sales in the first quarter totalled SEK 176 M (138). Excluding invoiced
direct assignment costs and commission, income amounted to SEK 144 M (96).
  · Profit after tax for the quarter amounted to SEK 7 M (-4).
  · Earnings per share for the total operation amounted to SEK 0.08 (-0.05) for
the quarter.
  · Corporate Finance recognised net sales of SEK 82 M (62). Excluding invoicing
for assignment costs and commission, income amounted to SEK 77 M (55). The
result before tax was SEK -6 M (-11).
  · Asset Management recognised net sales of SEK 95 M (76). Excluding invoicing
for assignment costs and commission, income amounted to SEK 66 M (41). Profit
before tax amounted to SEK 11 M (2). Profit was positively impacted by higher
performance-based fees in Swedish fund operations.

CEO's Comments

Overall, Catella’s two operating segments, Corporate Finance and Asset
Management, reported better earnings in the first quarter than in the year
-earlier period.

Following a very strong end to 2011 for Corporate Finance, 2012 started weak and
then accelerated at the end of the first quarter through a strong order intake.
However, there were new indications of macroeconomic turmoil in European
markets, thus aggravating assessments of the recent flow of stream in Corporate
Finance.

Catella’s financing services initiative involving corporate bonds, which
generated start-up costs in 2011, made a successful launch of a major issue
totalling SEK 1 Bn during the first quarter. Conditions remain favourable for
further expansion in the operating sector. This applies particularly to
offerings of financial services aimed at the property sector, a sector in which
Catella holds a strong market position.

In Asset Management, fund operations recognised increase of management volumes
SEK 1,8 Bn during the quarter, of which SEK 1 Bn is net flow. This, combined
with a relatively strong market particularly early in the year, generated higher
year-on-year earnings. New fund products with a focus on properties were also
launched from the German fond operations.

In Catella’s Treasury Management, the outcome of major holdings, primarily the
loan portfolios, surpassed earlier projected values for the period, which is
gratifying in the face of the economic conditions currently prevailing in
Europe.

Pertaining to Banque Invik, the sales process continues. The process has been
delayed because we have underestimated the complexity of selling a full-scale
banking operation during current uncertain market conditions and because of more
stringent regulatory requirements for potential buyers.

Johan Ericsson, CEO Catella
For more information, please contact:
Johan Ericsson
Chief Executive Officer, Catella
46 8 463 33 10
Press contact:
Viktoria Ejenäs
Communications Officer, Catella
46 8 463 33 34, 46 72 726 33 34
About Catella: Catella offers specialised financial services and products within
selected market segments. Catella has 340 employees in 13 European countries
within two operating segments; Corporate Finance and Asset Management. Catella
is listed on Nasdaq OMX, First North Premier and the share is traded under the
abbreviations CAT A and CAT B. Remium AB is Catella’s Certified Adviser, +46 8
454 32 00. Read more about Catella at www.catella.com.
Interim report 1 January - 31 March for Catella AB (publ)

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