contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Kasper Mellas

Mandatum operates in the financial sector. The company offers various financial services to both private savers and corporate customers. The range is broad and mainly includes capital and wealth management, savings and investments, compensation, pension plans and personal risk insurance. The largest operations are in Finland.

Kassu and Sale’s warm-up, as Manta reports its results on Thursday, Feb 12.  We expect the company to report a higher result than in the comparison period. We estimate that sales of investment products continued their positive momentum, and that profit growth in asset management, which is central to the company’s value, remained strong. In the report, our focus is particularly on the outlook for new sales, as the roadmap for the balance sheet and profit distribution for the coming years is very clear following the updated strategy and the sales of PE (Private Equity) investments. We will review Mandatum’s results in a live broadcast starting at 08:25 am on InderesTV.                   Inderes              Mandatum Q4’25 -ennakko: Arvioimme myynnin jatkaneen hyvässä vedossa - Inderes    Odotamme Mandatumilta vertailukautta korkeampaa Q4-tulosta.

Yesterday, OP Pohjola added Mandatum to its “OP Best Picks” list. Below are three points, a direct quote: Dividend potential is undervalued  3 x why?  • In our view, consensus underestimates the company’s dividend-paying capacity. We expect a dividend of EUR 1.00 (cons: EUR 0.80) for 2025, which, if realized, we estimate will provide a boost to the share price in connection with the Q4 report (Feb 12). Based on our forecast, the dividend yield would be a staggering approximately 15%.  • Mandatum has a strong track record of robust growth in assets under management (AUM) within its wealth management business compared to the industry. With the company’s cost pressures being very moderate at the same time, the operating leverage is working excellently.  • The company’s structural change continues as the with-profit (guaranteed interest) business shrinks and the capital-light business grows. This structural change makes the operations more attractive and predictable, while simultaneously releasing significant capital. We expect Mandatum to pay very high dividends for the next two years as well, even though the dividend peak will be reached in 2025.

The world’s largest securities market is the bond market. Much larger than the stock market. Institutional investors are already forced to invest in bonds due to regulation. An innovative player with a good track record certainly has good potential to continue growing its AUM in the future. Granted, Manta’s valuation is starting to reach its limits, but that is another story.

Money tied up for years and the target gross return was around 12%, I believe. As I understand it, the excess return was meant to be achieved by playing special situations. Personally, this made me wonder if we are reaching a point with Manta where the strongest cards have already been played and they are now starting to launch weaker products to the market… The firm has gained a lot of momentum first from the interest rate hike cycle and then from the decrease (the values of fixed income investments rose sharply as rates fell). Now that we are apparently heading back towards a longer period of low interest rates, will Manta’s products continue to be as attractive compared to other investment options (mainly stocks)?

What a vague description of the fund’s investment strategy! Institutional investors clearly have confidence, as over 200 million has already been invested. Apparently, the fund’s operations won’t be explained any further to retail investors.

News Powered by Cision              Mandatum lanseeraa uuden opportunistisen MAMCO II -korkorahaston    Lehdistötiedote, 28.1.2026 klo 10.30  Mandatum laajentaa korkosijoitustensa tarjontaa                             Mandatum is adding a new opportunistic MAMCO II credit fund to its offering, which operates in both public and private debt markets in the Nordics and more broadly in Europe*.* The fund targets attractive risk-adjusted returns and higher return potential than traditional high yield markets. The closed-ended and invitation-based fund leverages Mandatum’s deep market expertise and extensive network to identify the most attractive investment opportunities in terms of risk-return ratio in various market environments. The fund has gathered over 200 million euros in initial investment commitments, and the fund’s first closing is scheduled for March 2026. The fund’s predecessor, launched in 2020, exceeded its return targets as the investment period concludes at the end of 2025.

Here are Kasperi’s and Sauli’s comments regarding how the EUR 42 million administrative fine received by Saxo Bank reduces the purchase price of Manta’s stake by approximately EUR 8 million compared to the previous estimate. Mandatum announced on Friday that due to the administrative fine received by Saxo Bank, the purchase price of the stake will be approximately EUR 8 million lower than previously estimated.                   Inderes              Saxo Bankin seuraamusmaksu alentaa hieman Mandatumin saamaa kauppahintaa -...    Saxo Bankin saaman seuraamusmaksun takia omistuksen kauppahinta jää noin 8 MEUR aiempaa arviota matalammaksi.

Mandatum

Mandatum published Q1 figures that fell short of our expectations. The earnings miss is explained by investment returns, which were slightly below our expectations.

<p>Mandatum published Q1 figures that fell short of our expectations. The earnings miss is explained by investment returns, which were slightly below our expectations. However, the capital-light businesses developed better than expected, so overall the quarterly report left a good impression.&nbsp;</p>

	2023	24e	25e
Revenue	135.0	147.7	155.2
growth-%	7.1 %	9.4 %	5.1 %
EBIT (adj.)	210.4	206.2	196.4
EBIT-% (adj.)	155.9 %	139.6 %	126.6 %
EPS (adj.)	0.32	0.33	0.31
Dividend	0.33	0.33	0.31
Dividend %	8.1 %	4.8 %	4.5 %
P/E (adj.)	12.7	21.0	22.1
EV/EBITDA	7.2	16.0	15.3

There is value in the balance sheet

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Key Estimate Figures09.05.2024

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