Business concept and objective

Catena shall own, effectively manage and actively develop real estate offer the potential to generate a steadily growing cash flow and good growth.

Catena’s overriding objective is to provide shareholders a favorable, long-term total return.

Catena has defined three financial targets to be achieved over a business cycle:

• Return on shareholders’ equity exceeding the risk-free interest rate by not less than 5 percentage points 1).
• Interest-coverage ratio of not less than 1.75.
• Equity/assets ratio of not lower than 25% and not higher than 35%.

Dividend policy

Long-term, Catena’s dividend shall amount to 75% of pretax profit 2) , excluding realized and unrealized changes in the value of properties and excluding unrealized changes in the value of derivative instruments.

1) Risk-free interest is defined as the interest on a five-year Swedish government bond.

2) Pretax profit charged with 26.3% standard tax