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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.
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.
The day's key takeaways focused on the progress of the company's strategy, the Cliens acquisition, and more technical topics such as organic capital generation and net financial result.
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Mandatum's Q2 earnings exceeded our estimates, driven by investment income, and the fee result, the most important bottom line for the group's value, continued its impressive growth.
Mandatum's internationalization takes a big leap with the acquisition of Swedish Cliens. The terms of the deal seem reasonable, and the target complements Mandatum well.
