Mandatum Oyj (MANDF) Q1 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Mandatum Oyj.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.071 -- 00:00:04.292 Good morning and welcome to Mandatum's Q1 audio cast. 00:00:04.292 -- 00:00:08.613 My name is Lotta Borström from Mandatum's Investor Relations, and I am pleased to be 00:00:08.613 -- 00:00:14.594 joined today by our CEO Petri Niemisvirta and our CFO Matti Ahokas. 00:00:14.594 -- 00:00:18.995 During the audio cast, Petri Niemisvirta and Matti Ahokas will present the highlights 00:00:18.995 -- 00:00:23.076 and key developments of Mandatum's first quarter of 2025, 00:00:23.076 -- 00:00:27.377 after which we'll take the Q&A, where you have the possibility to dial in for any questions 00:00:27.377 -- 00:00:32.660 you might have. Also, please don't hesitate to contact us at Investor Relations, 00:00:32.660 -- 00:00:35.422 should you have any further questions. 00:00:35.422 -- 00:00:37.904 With these remarks, I will hand over to Petri. 00:00:37.904 -- 00:00:40.586 Please go ahead. 00:00:40.586 -- 00:00:45.910 Thank you, Lotta. And now let's move on to the first quarter. 00:00:45.910 -- 00:00:50.514 Mandatum's first quarter went well, despite turbulent market conditions. 00:00:50.514 -- 00:00:53.614 We achieved a 23% year-over-year 00:00:53.736 -- 00:00:58.198 increase in fee result, reaching 18.8 million euros. 00:00:58.371 -- 00:01:03.094 The increase was mainly driven by improved cost efficiency and higher client assets under 00:01:03.094 -- 00:01:08.858 management that also saw a significant rise up 12% 00:01:08.858 -- 00:01:14.021 year over year to 14 billion euros. The improved cost efficiency 00:01:14.021 -- 00:01:19.465 was also highlighted by a 10 percentage point reduction in the cost income ratio, 00:01:19.465 -- 00:01:21.566 now at 55%, 00:01:21.566 -- 00:01:26.915 which I'm very happy about. These metrics reflect our strategi...