Finland's Mandatum 2025 pretax profit falls, warns of lower portfolio earnings

Mandatum Oyj

12/02/2026 06:40

Overview

Finland financial services firm's 2025 pretax profit fell 10% yr/yr

Capital-light profit before taxes rose 5%, driven by asset and wealth management

Client assets under management increased 10% to EUR 15.3 bln

Outlook

Mandatum expects fee result to increase in 2026

Company anticipates further decrease in with-profit portfolio

Fee result for 2026 depends on client behavior, asset allocation, and market conditions

Result Drivers

CAPITAL-LIGHT PROFIT - Capital-light profit before taxes rose 28% due to increased client assets under management

NET FINANCE RESULT - Decreased by 21% due to absence of prior year's Saxo Bank dividend

NET FLOW DECLINE - Decreased 64% due to distributions related to alternative investments

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY EPS
EUR 0.31
FY Assets Under Management
EUR 15.32 bln
FY Dividend
EUR 0.85
FY Pretax Profit
EUR 182.10 mln
FY ROE
10.30%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and 5 "sell" or "strong sell"

The average consensus recommendation for the life & health insurance peer group is "buy."

Wall Street's median 12-month price target for Mandatum Oyj is €5.80, about 16.3% below its February 11 closing price of €6.93

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release: ID:nWkr1xpd9x

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)