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CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.
CapMan's Q3 profitability came in below our expectations, while the top line was in line with our estimate. Adjusted EBIT was EUR 7.2m (our estimate: EUR 9.2m), and revenues reached EUR 19.2m (our estimate: EUR 18.9m). The profitability miss was explained...
CapMan’s Q3 fee income of EUR 15.6m grew 3% y/y but was 9% below our estimate of EUR 17.1m. Fee profit of EUR 3.0m declined by 16% y/y, and came below our estimate of EUR 4.2m, while the fee profit margin (19.1%) declined by 4.3 bp y/y. Driven mainly...
Ahead of CapMan's Q3 2026 results on 5 November, we make minor estimate revisions that mainly reflect our fair value change and carried interest assumptions for the current year. For Q3, we model fee income of EUR 17.1m (+12% y/y) and fee profit of EUR...
NRE I was CapMan’s first fund focused on Nordic real estate investments and has served as an important foundation for the company’s current real estate strategy.
The early-year performance of asset managers was moderate, and earnings growth should accelerate clearly in the second half of the year, driven by a strong market.
CapMan's Q2 top-line figures and profitability both came in below our expectations. Adjusted EBIT was EUR 3.9m (our estimate: EUR 7.5m), and revenues reached EUR 15.2m (our estimate: EUR 18.7m). Relative to our estimates, the profitability miss was driven...
