United Bankers Oyj Class A · OMXHEX:UNITED
United Bankers Oyj Class A — FY2025 Earnings Presentation
26 slides from United Bankers Oyj Class A's earnings presentation, Feb 12, 2026
Slide 1: Strong year – assets under management exceeded EUR 5 billion
Strong year – assets under management exceeded EUR 5 billion United Bankers Plc Result 2025 John Ojanperä, CEO 12 February 2026
Slide 2: Contents
Contents 1. Highlights and achievements of 2025 2. Second-strongest revenue year 3. Assets under management reached a record high 4. Favourable development in asset and wealth management 5. Capital markets showed signs of recovery 6. Outlook and guidance for 2026 2
Slide 3: Highlights of 2025
Highlights of 2025 ▪ By revenue, the company recorded its second strongest year ever ▪ Assets under management rose to a record, EUR 5.2 billion ▪ Sales of discretionary wealth management performed particularly well ▪ The company strengthened its strategic focus on full-service wealth management and
Slide 4: Key financial figures
Key financial figures AUM Revenue €5.2 bn €57.1 m +6.6% -8.0% Adjusted operating profit Earnings per share €16.7 m €1.18 -29.4% -28.7% 4
Slide 5: The results of our long-term growth efforts will become fully visible in the coming years
The results of our long-term growth efforts will become fully visible in the coming years 5
Slide 6: Operating environment
Operating environment ▪ Actions by the Trump administration created uncertainty for the economy. However, the stock market saw broad-based gains. Interest rate environment stabilised ▪ Volumes in the real estate market increased; in Finland, transactions nearly doubled to EUR 4.4 billion ▪ Forest pr
Slide 7: July-December 2025
July-December 2025 ▪ Development of the asset and wealth management business remained stable in the second half of the year, although revenue and profit declined slightly compared to the corresponding period of the previous year ▪ Fund management fees and wealth management fees continued on a growth
Slide 8: Second strongest revenue year
Second strongest revenue year ▪ Based on revenue, 2025 was the company’s second-best year in its history ▪ However, revenue and profit declined as expected compared to the Revenue previous year due to lower performance fees ▪ Asset and wealth management business performed well overall €57.1 m throug
Slide 9: Growth in asset and wealth management fee income
Growth in asset and wealth management fee income ▪ United Bankers aims for high predictability of fee income in its asset and wealth management business, which accounts for the majority of the Group’s fee revenues ▪ Fee income in the asset and wealth management segment increased overall, except for
Slide 10: Long-term profitability has remained strong
Long-term profitability has remained strong 10
Slide 11: Assets under management at a record level
Assets under management at a record level ▪ Assets under management reached a new record of EUR 5.2 billion ▪ Of the total EUR 5.2 billion in assets under management, EUR 3.8 billion (EUR 3.5 billion) was invested in funds and discretionary wealth management ▪ Assets under discretionary wealth manag
Slide 12: AUM breakdown
AUM breakdown 59% — Funds UB Public AUM breakdown Assets under management generating recurring fees 73% — 27% Other 7— 14% Wealth Management without funds (with funds 20%) AUM asset class breakdown 15% ——— Other — 36% Real 29% — Assets Stocks |___ 20% Fixed Income 12
Slide 13: Share of funds in AUM
Share of funds in AUM ▪ Assets under management in funds increased to EUR 3 billion ▪ Funds focused on forest, real estate, and infrastructure represent a substantial EUR 1.8 billion of the company’s assets under management ▪ Recurring fee-generating assets remained at 73 per cent of total assets 13
Slide 14: Share of forest in real assets increased
Share of forest in real assets increased ▪ Assets in real asset funds represent 36 per cent of total assets under management and 59 per cent of fund capital ▪ Four forest funds’ assets (GAV) increased to EUR 826 million, raising their share of real asset funds to 45 per cent ▪ Challenges in the real
Slide 15: Growth in sales of asset and wealth management services
Growth in sales of asset and wealth management services ▪ The sales on asset and wealth management products and services increased by approx. 10 per cent compared to the reference period, reaching EUR 576 ▪ Net subscriptions to funds were EUR 110 million ▪ Investments were primarily directed to fixe
Slide 16: Significant events in asset and wealth management
Significant events in asset and wealth management ▪ Growth-driving initiatives were advanced, with a particular focus on developing service models and enhancing sales in discretionary wealth management, as well as launching new funds to support future growth ▪ Business was expanded into athlete weal
Slide 17: Capital markets outlook brightened
Capital markets outlook brightened ▪ Operating environment in the capital markets improved during 2025 ▪ United Bankers’ capital markets services segment performed well, with fee income more than doubling compared to the previous period to EUR 1.4 million ▪ Segment’s revenue also increased, and EBIT
Slide 18: United Bankers supports climate-positive development
United Bankers supports climate-positive development ▪ United Bankers’ reporting requirements eased following the Omnibus initiative ▪ The company publishes a voluntary corporate responsibility report in its annual report, along with a separate annual report on responsible investing ▪ United Bankers
Slide 19: Outlook and guidance for 2026
Outlook and guidance for 2026 MARKET ENVIRONMENT BUSINESS OUTLOOK ▪ In 2026, broad-based global economic growth is expected, with stable ▪ United Bankers focuses on growing capital in its strategically key funds interest rates and controlled inflation as well as in discretionary wealth management ▪
Slide 20: Dividend proposal and the AGM
Dividend proposal and the AGM The Board of Directors proposes that a dividend of EUR 1.16 be paid in two instalments ▪ First dividend instalment of EUR 0.58 per share is scheduled to be paid in March 2026 ▪ Second dividend instalment of EUR 0.58 per share is scheduled to be paid in October 2026 Unit
Slide 21: United Bankers' total share return 2025
United Bankers’ total share return 2025
Slide 22: Contact details
CEO John Ojanperä john.ojanpera@unitedbankers.fi tel. +358 40 842 3472 Chief Communications Officer Inka Noramaa inka.noramaa@unitedbankers.fi tel. +358 40 576 4202 Investor Relations Manager Marjo Åström marjo.astrom@unitedbankers.fi tel. +358 40 507 6546 Investor Relations ir@unitedbankers.fi tel.
Slide 23: Appendixes
Pul lic Appendixes UB 23
Slide 24: Key figures
Key figures * The percentage change has been calculated using the actual figures, the figures shown in the table have been rounded. ** The number of personnel stated has been converted to full-time equivalent. 24
Slide 25: Key income statement figures
Key income statement figures 25
Slide 26: United Bankers' investments funds
United Bankers’ investments funds 26