)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Mandatum (MANTA) investor relations material
Mandatum Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Profit before taxes rose 23% year-over-year to EUR 55.7 million in Q3 2025, driven by strong fee and net finance results.
Fee result increased 20% year-over-year to EUR 21.7 million, supported by 12% growth in client assets under management (AUM).
Operational efficiency improved, with the cost/income ratio down 13 percentage points year-over-year to 50%.
Client assets under management reached a record EUR 14.9 billion, up 12% year-over-year.
Net flow reached EUR 163 million, up 43% year-over-year, contributing to AUM growth.
Financial highlights
Net finance result climbed 47% year-over-year to EUR 39.4 million in Q3.
Organic capital generation per share reached EUR 0.14 in Q3 and EUR 0.48 for the first nine months.
Return on equity (annualised) improved to 13.6% from 9.4% a year earlier.
Solvency II ratio, adjusted for dividend accrual and without transitional measure, stood at 191%.
EPS for Q3 was EUR 0.09, up 28% year-over-year.
Outlook and guidance
Fee result is expected to increase from 2024, but is subject to client behavior, asset allocation, competition, and market conditions.
With-profit portfolio is expected to continue decreasing, with potential volatility in net finance result due to market changes.
Financial targets for 2025-2028 include ROE above 20%, capital-light profit before taxes CAGR above 10%, solvency margin 160-180%, and cumulative shareholder payouts exceeding EUR 1 billion.
Sale of Saxo Bank shares anticipated to increase solvency margin by 34-35 percentage points upon completion.
International expansion, especially in Central Europe, expected to show material results in 2026.
Saxo Bank sale proceeds deployment strategy?
Luxembourg sales unit's specific growth targets?
Retail clients: Reverse negative net flow trend?
CSM release below expectations: What's the plan?
Capital-light profit growth: Path to 2028 target?
International expansion: When will it be material?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Mandatum earnings date
Q4 202512 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Finnish Life Insurance and Wealth Management
Mandatum is a Finnish financial services company specializing in life insurance and wealth management. It offers a range of services including investment solutions, retirement planning, and risk management. The company is focused on three core customer types: corporate clients, private customers, and institutional & wealth management customers. The company is one of the leading players in Finland's life insurance and asset management sectors, with a history spanning over 150 years. Mandatum is headquartered in Helsinki, and its shares are listed on the Nasdaq Helsinki Exchange.
Over 150 Years of History
Mandatum has been an important player in the development of Finland's finance sector. The company’s roots can be traced back roughly 150 years to the foundation of Kaleva, a life insurance company. The modern story of Mandatum began in 2008 when the life insurance company Sampo (which had taken over Kaleva’s life insurance segment during the late 1990s) became Mandatum Life. During the same period, the Money and Life divisions were launched and the company initiated its wealth management together with its offerings in life insurance.
Wealth Management
Mandatum is a financial services company that specializes in wealth management. Their offerings in this sector typically include personalized investment strategies, asset management, and financial planning services. Mandatum focuses on understanding individual client needs to tailor investment portfolios, balancing risk and return according to specific goals and timelines. Its wealth management services are generally aimed at high-net-worth individuals, families, and institutional clients, seeking to preserve and grow their wealth over the long term. In wealth management, the company competes with large Nordic banks such as SEB and Nordea.
Life Insurance
Mandatum provides a range of life insurance products that are designed to offer financial security to policyholders' beneficiaries in the event of the policyholder's untimely death. These policies can be customized to include flexible premium payment options and varying coverage levels. Mandatum's life insurance solutions are aimed at individuals and families seeking to ensure financial stability and peace of mind for their loved ones in case of unforeseen circumstances.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage