Mandatum Oyj (MANDF) Q1 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.060 A very good morning from sunny Helsinki and welcome to Mandantum's Q1 audio cast. 00:00:05.060 -- 00:00:09.988 I am Lotta Burström from Investor Relations and I am pleased to be joined by our CEO 00:00:09.988 -- 00:00:16.265 Petri Niemisfirta and CFO Matti Ahokas, who will guide you through today's results. 00:00:16.265 -- 00:00:21.172 During this audio cast, we will begin by presenting the highlights and key developments 00:00:21.172 -- 00:00:24.798 of Mandato's first quarter of 2026. 00:00:24.798 -- 00:00:29.064 Following this, we will proceed to the Q&A session, where you will have the opportunity 00:00:29.064 -- 00:00:32.710 to dial in with any questions you may have. 00:00:32.710 -- 00:00:37.837 Participants can also submit questions through the chat, which we will review within 00:00:37.837 -- 00:00:41.243 the given timeframe after the dial-in Q&A. 00:00:41.243 -- 00:00:43.566 With these remarks, I will hand over to Petri. 00:00:43.566 -- 00:00:45.712 Please go ahead. 00:00:45.712 -- 00:00:51.531 Thank you, Lotta. And now let me walk you through our first quarter of 2026. 00:00:51.955 -- 00:00:57.042 The start of the year was good in our core businesses, even though the reported result 00:00:57.042 -- 00:01:02.730 was clearly impacted by changes in interest rates and our discount rate curve. 00:01:02.730 -- 00:01:05.915 Market sentiment was mixed in the first quarter. 00:01:05.915 -- 00:01:10.622 Geopolitical tensions, especially in the Middle East, affected the markets. 00:01:10.622 -- 00:01:15.288 Uncertainty increased towards the end of the quarter, resulting in a decline in our assets 00:01:15.288 -- 00:01:20.616 under management in March. However, market confidence has mostly recovered 00:01:20.616 -- 00:01:25.976 since ...