Mandatum Oyj (MANDF) Q4 2025 Earnings Call

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WEBVTT 00:00:01.583 -- 00:00:06.652 Good morning, and welcome to Mandantum's Q4 2025 results order cast. 00:00:06.652 -- 00:00:12.563 My name is Lotta Vorström from Investor Relations, and I am pleased to open today's call. 00:00:12.563 -- 00:00:18.033 I am joined today by our CEO, Petri Niemisfirta, and our CFO, Matti Ahokas, 00:00:18.033 -- 00:00:22.677 who will take you through the highlights and key developments of the quarter. 00:00:22.677 -- 00:00:26.801 We'll begin with the management presentation, after which we will move on to the Q&A 00:00:26.801 -- 00:00:31.825 session. And as always, you can participate either by dialing in or by submitting your 00:00:31.825 -- 00:00:36.950 questions through the chat. We will review the chat questions once the dial-in Q&A has 00:00:36.950 -- 00:00:41.975 concluded. Before we get started, a brief reminder that the materials for today's 00:00:41.975 -- 00:00:45.298 calls are available on our website. 00:00:45.298 -- 00:00:47.960 With these remarks, I will hand things over to Petri. 00:00:47.960 -- 00:00:50.062 Please go ahead. 00:00:50.062 -- 00:00:55.262 Thank you, Lotta. Let me now walk you through Mandatum's fourth quarter and full year 00:00:55.262 -- 00:00:57.105 performance. 00:00:57.105 -- 00:01:02.853 In the fourth quarter, Mandatum delivered another period of continued process 00:01:02.853 -- 00:01:06.038 across our core businesses and operational efficiency. 00:01:06.038 -- 00:01:11.726 The results demonstrate the strength of our capital-like model, our operational discipline, 00:01:11.726 -- 00:01:15.766 and the trust our clients place in us. 00:01:15.766 -- 00:01:21.294 For the October-December period, profit before taxes decreased by 14% to 00:01:21.294 -- 00:01:26.541 13.3 million euros due to the lower net fi...