Catella closes unprofitable operations in Oslo
During 2012, sales for the property advisory services in Norway were SEK 13.5 million, which corresponds to approximately 1 percent of Catella's total net sales, and earnings before tax were SEK - 7.3 million. During the first half of 2013, net sales were SEK 4.2 million and earnings before tax were SEK -4.0 million.
"We are not satisfied with the performance of the operations in Norway and have therefore taken the decision to close them. We have a strong position in the Nordic region, and Norway certainly remains an important market for us in future," says Anders Palmgren, Head of Catella's Corporate Finance operations.
Catella's operations in Oslo will be wound up on 31 December 2013. Ongoing client projects will continue as planned, and the intention is to complete these before the end of the year. Clients with projects that cannot be completed before this will be offered alternative solutions.
Catella's property advisory services operate in 11 European countries and have more than 200 employees.
Catella Property GmbH
Catella is an independent financial advisor and asset manager. We have operations in 12 European countries and some 450 employees. Catella has a strong offering in financial services through our business breadth, geographical coverage and leading position in the property sector. Catella is listed on Nasdaq OMX First North Premier, trading under the stock symbols CAT A and CAT B. The company's certified advisor is Remium AB. Read more about Catella at www.catella.com.