Annual Report Time and Location: the Annual General Meeting (AGM) of Catena AB (Publ) Will Be Held on Tuesday, 26 April, at 04:00 P.M
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2017 Notification of General Meeting Annual Report Time and location: The Annual General Meeting (AGM) of Catena AB (publ) will be held on Tuesday, 26 April, at 04:00 p.m. at the IVA Conference Centre, Grev Turegatan 16 in Stockholm, Sweden. Entitlement to participate To be entitled to participate at the AGM, share- holders must be registered in the share register maintained by Euroclear Sweden AB not later than 20 April. Shareholders having registered their shares with a trustee must, by this date, have had their shares temporarily registered in their own name. Any such registration should be requested in good time ahead of the AGM at the party holding the shares in trust. Registration Notification of participation in the AGM must be made not later than 20 April at 02:00 p.m. by e-mail to [email protected]. Notification can also be provided by telephone on +46 (0)730 70 22 46 or by letter to Catena AB (publ), General Meeting, Box 5003, SE-250 05 Helsingborg, Sweden. In the notification, share- holders should provide their name, personal identity number/corporate registration number, address, telephone number, any assistants and the number of shares. Any proxies should be submitted in writing no later than at the AGM. Proxy forms are available at www.catenafastigheter.se and at the head office in Helsingborg. These will also be sent to shareholders on request. It is advantageous for any participant planning to attend with the support of a proxy, certificate of incorporation or other certificates of authorisation to submit such documentation in good time ahead of the AGM to Catena AB. The cover image shows the automated picking in Boozt's e-commerce terminal and warehouse. E-commerce logistics is an area within which Catena positioned itself early on. Today, the company is the leading property manager in the area. In 2017, the facility was awarded “Logistics Establishment of the Year” by the magazine Intelligent Logistik Read more on pages 8–9. PROPERTIES FOR SMARTER, BETTER AND FASTER LOGISTICS SOLUTIONS 2017 Notification of General Meeting Annual Report Time and location: The Annual General Meeting (AGM) of Catena AB (publ) will be held on Tuesday, 26 April, at 04:00 p.m. at the IVA Conference Centre, Grev Turegatan 16 in Stockholm, Sweden. Entitlement to participate To be entitled to participate at the AGM, share- holders must be registered in the share register maintained by Euroclear Sweden AB not later than 20 April. Shareholders having registered their shares with a trustee must, by this date, have had their shares temporarily registered in their own name. Any such registration should be requested in good time ahead of the AGM at the party holding the shares in trust. Registration Notification of participation in the AGM must be made not later than 20 April at 02:00 p.m. by e-mail to [email protected]. Notification can also be provided by telephone on +46 (0)730 70 22 46 or by letter to Catena AB (publ), General Meeting, Box 5003, SE-250 05 Helsingborg, Sweden. In the notification, share- holders should provide their name, personal identity number/corporate registration number, address, telephone number, any assistants and the number of shares. Any proxies should be submitted in writing no later than at the AGM. Proxy forms are available at www.catenafastigheter.se and at the head office in Helsingborg. These will also be sent to shareholders on request. It is advantageous for any participant planning to attend with the support of a proxy, certificate of incorporation or other certificates of authorisation to submit such documentation in good time ahead of the AGM to Catena AB. The cover image shows the automated picking in Boozt's e-commerce terminal and warehouse. E-commerce logistics is an area within which Catena positioned itself early on. Today, the company is the leading property manager in the area. In 2017, the facility was awarded “Logistics Establishment of the Year” by the magazine Intelligent Logistik Read more on pages 8–9. PROPERTIES FOR SMARTER, BETTER AND FASTER LOGISTICS SOLUTIONS CATENA IN BRIEF 2 ANNUAL REPORT 2017 L CATENA AB Contents Catena in brief Value-generating cargo flows 2-3 Welcome to Catena! The year in brief Continued balanced growth with improved profit Catena owns, actively develops and efficiently manages strategically located logistics from property management 4–5 properties that supply cargo to growing Scandinavian metropolitan regions. The facilities CEO’s comments are adapted to current and future cargo flows and generate stable cash flows enabling Good conditions for continued growth 6–7 both development of the operations and a good return for the owners. Operations 2017 Operations in 2017 in brief 10–11 Logistics trends A clear vision A focused business model Megatrends drive Faster, Better and Smarter logistics 14–17 Catena has a clear business model driven by the vision to Catena shall sustainably and through partnerships develop The market Strong economy drives consumption growth 18–21 link Scandinavia’ s cargo flows. efficient logistics facilities that serve the metropolitan Board of Directors’ report The daily operations are conducted through the two basic regions of Scandinavia. Operations and strategy tasks of the business concept: property development and The efficiency of transports is an important factor for A proven business model 24 management. In this way, according to the overall goal, companies’ profitability. At the same time, the challenges Active management 25 An attractive offering 26–27 the company creates a strong cash flow that enables both faced in terms of climate change impose stricter new Positioned for continued growth 28–29 attractive returns to shareholders and stable development demands on reducing the environmental impact of Clear objectives and implemented strategies 30–31 towards the vision. To achieve the goals and vision, transport. Catena offers, along excellent green corridors Sustainability work Sustainable operations 34 Catena works with four well-defined strategies: property at the main transport routes and hubs, logistics facilities Sustainable logistics and societal development 35–36 development, clients and markets, sustainability, that provide both economic benefits and environmental Sustainable properties 37–40 and finance. benefits. Attractive employer 41–43 Property operations Read more on pages 24. Central key figures restored after last year’s expansion 46–50 Market outlook 51 An attractive investment Summary of the regions 52–54 Property valuation 55 List of properties by region 56–57 + fold-out A leading position in a growing market Significant Events 58–59 Current earnings capacity 60 Since the beginning of the modern Catena, the company has been a leading Appropriation of earnings 61 player in logistics properties that have developed and driven the growing sector forward, including e-commerce. After a number of structural transactions, Catena Financing is also one of the largest property companies in the sector in Sweden. This gives Interest-bearing liabilities 64–65 Catena both cost and income synergies – a good base for continued value growth. A clearly focused Equity, share and ownership 66–67 Read more about the sustainability work on pages 18–21. business model Financial information Catena’ s focus on Contents 69 Continued improved earnings with strong cash flow logistics properties Financial reports, Group 70–75 provides optimal con- Notes – Group 76–100 Catena continues to deliver good earnings and ditions for developing Financial reports, Parent Company 101–103 was again able to report strong development for and managing attrac- Notes – Parent Company 104-111 2017. Rental income increased by 13 percent Signing of the Annual Report 112 during the year. Profit from property manage- tive logistics facilities Auditors’ report 113–116 ment, which essentially constitutes cash flow, that can supply cargo Corporate governance Clear objectives and increased by 39 percent. the company’ s continued and goods to growing Chairman of the Board: Responsible governance well-defined strategies development during the year through acquisitions, metropolitan areas. is the foundation of value creation 117 To grow, realise the important newly produced facilities and remaining developa- Read more about the Corporate Governance Report 118–124 vision, achieve the finan- ble land create potential for continued improved profit from sustainability work on Risks and opportunities 125-129 cial targets and create property management. pages 46–54. Board and management 130–131 a continued strong cash Read more about profit for the year on pages 70–71. Information flow, Catena works with four well-defined strate- Multi-year overview and definitions 132–133 Good total return on Catena’ s share GRI notes 134–138 gies. The company also Catena’s business is based on a growing attractive property portfolio that Catena year-round and glossary 140 has organisational and generates strong cash flows. This gives the company good opportunities to Index of diagrams and tables financial capacity to create shareholder value through growth investments, dividends and increased as well as press releases 141 carry out the strategies. net asset value. In 2017, return on an investment in the Catena share totalled Audited section. Read more about the interest 23.7 percent (14.3), compared with the stock market’ s total index (including and loan maturity on page 30–31. reinvested dividends) of 9.8 percent. Read more about the share on pages 66–67. BOARD OF DIRECTORS’ STATEMENT CATENA IN BRIEF 2 ANNUAL REPORT 2017 L CATENA AB Contents Catena in brief Value-generating cargo flows 2-3 Welcome to Catena! The year in brief Continued balanced growth with improved profit Catena owns, actively develops and efficiently manages strategically located logistics from property management 4–5 properties that supply cargo to growing Scandinavian metropolitan regions. The facilities CEO’s comments are adapted to current and future cargo flows and generate stable cash flows enabling Good conditions for continued growth 6–7 both development of the operations and a good return for the owners.