Catena continued to show improved profitability and continued growth in the first quarter. This success can be attributed to Catena’s ability to quickly identify customer needs as logistics becomes an increasingly important part of efficient retailing, due to new trends in consumption and purchasing patterns.
26 April 2018, 2.30 p.m.
Since the end of the first quarter of 2017, several new facilities have been added, both through new production and acquisitions. Strong finances together with our land reserve of approximately 1,700,000 square metres also enable continued growth, and six projects are currently up and running.
In the latter part of 2017 and during the first quarter of this year, we noted increased interest from investors, particularly foreign investors, interested in logistics properties. We are seeing this, for instance, at the meetings with investors that we are regularly invited to – and the interest is reflected in our share price, which has been boosted by inclusion in the international property index EPRA.
We can deliver added value when our customers’ needs for effective logistics solutions increase, and we are well-positioned to accommodate new consumption and purchasing patterns among our customers. In addition to e-commerce, we see growing needs among our customers within food, restaurant and catering logistics, both for new innovative solutions and central locations. In spring 2019, a new customer for us, Chefs Culinar, will move into a new distribution centre to become the third establishment in our major development area, Sunnanå, outside Malmö.
Consumption has developed favourably in recent quarters, but even if the market levels out, this can benefit Catena, which is financially strong. Secured interest rates also in-crease resilience to changing conditions in the financial markets, relative to competitors. Attractive interest rates along with an advantageous loan structure entail proposed tax changes not being expected to have any significant impact on Catena’s earnings.” Says CEO Benny Thögersen in his comments on the Interim Report.
For further information, please contact
Benny Thögersen, CEO, Tel. +46 706-60 83 50, firstname.lastname@example.org
Peter Andersson, Deputy CEO and CFO, Tel. +46 730-70 22 44, email@example.com