Mandatum Oyj (MANDF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to Mandantum's Q4 2025 results order cast. My name is Lotta Vorström from Investor Relations, and I am pleased to open today's call. I am joined today by our CEO, Petri Niemisfirta, and our CFO, Matti Ahokas, who will take you through the highlights and key developments of the quarter. We'll begin with the management presentation, after which we will move on to the Q&A session. And as always, you can participate either by dialing in or by submitting your questions through the chat. We will review the chat questions once the dial-in Q&A has concluded. Before we get started, a brief reminder that the materials for today's calls are available on our website. With these remarks, I will hand things over to Petri. Please go ahead. Thank you, Lotta. Let me now walk you through Mandatum's fourth quarter and full year performance. In the fourth quarter, Mandatum delivered another period of continued process across our core businesses and operational efficiency. The results demonstrate the strength of our capital-like model, our operational discipline, and the trust our clients place in us. For the October-December period, profit before taxes decreased by 14% to 13.3 million euros due to the lower net finance result and other result. However, our capital life profit before taxes increased by 28% to 27 million euros and its most significant income item, the fee result, rose by 18% year on year. This shows that our strategy focus is in the right areas, with profitable growth driven particularly by asset and private wealth management as well as our corporate business. The strong growth also highlights the continued improvement in the quality of the group's earnings. Client assets under management reach a new billion-euro milestone at year-end, increasing...