Catella reports stable growth in 2024 despite market uncertainty

Catella AB, a Swedish investment and advisory firm focused on the real estate sector, reported steady performance in 2024, maintaining a positive operating profit and increasing assets under management despite subdued transaction activity across European property markets.

Catella’s total income for the year reached SEK 2.3 billion, with assets under management (AUM) growing from SEK 152 billion at the end of 2023 to SEK 155 billion by year-end. The company operates through three main business areas: Investment Management, Principal Investments, and Corporate Finance.

Investment Management saw continued inflows, especially into residential-focused and sustainability-themed funds. The launch of Catella Investment Management (CIM)—a platform resulting from the merger of Catella Residential Investment Management and Catella Real Estate AG—aimed to streamline fund operations. CIM oversees approximately EUR 10 billion across 25 funds in 15 countries.

Principal Investments recorded SEK 1.6 billion in proprietary investments, including nine ongoing development projects in four European countries. Notable progress included the divestment of the final property in Catella’s partnership with Infrahubs, which contributed approximately SEK 225 million in profit after tax since inception. The business area maintained its focus on projects with strong sustainability credentials, including the completed Kaktus Towers in Copenhagen and the ongoing KöTower redevelopment in Düsseldorf.

Corporate Finance operated in a more cautious market but maintained its advisory role in several significant transactions. In Sweden, Catella was the top-ranked property advisor by completed sales. The business area advised on transactions and capital raisings worth SEK 24.2 billion and improved its operating result from SEK -33 million in 2023 to SEK -17 million in 2024, driven by cost efficiencies.

During the year, Catella also issued new senior unsecured green bonds and launched new investment strategies, including a UK-listed property sector fund and data-driven systematic property fund products.

The company reported an operating profit of SEK 128 million attributable to shareholders. Its share price declined by 17% (Class B) and 21% (Class A) during the year, underperforming the OMX Stockholm GI, which rose by 9%.

Catella continues to focus on expanding its fund offering, diversifying its investment strategies, and strengthening internal collaboration. The company expects improved transaction activity in 2025 as market conditions stabilize.