Evli (EVLI) Q3 2025 earnings summary

Executive summary

• Achieved record assets under management (AUM) of €20.8 billion in Q3 2025, up from €18.7 billion year-over-year, driven by strong international sales and positive market development.

• Net revenue for January–September 2025 increased 14% to €90.4 million, with operating profit rising 24% to €40.5 million compared to the previous year.

• Performance-based fees reached €12.7 million, with a record €12.0 million in Q3.

• The Wealth Management and Investor Clients segment drove growth, while Advisory and Corporate Clients saw a decline in revenue.

• Launched three new mutual funds, including ESG-focused and emerging markets equity funds, and two enhanced index funds for Europe and the USA.

Financial highlights

• Q3 2025 net revenue was €35.2 million, up 44% year-over-year; Q3 operating profit was €18.0 million, up 70%.

• Diluted EPS for January–September was €0.97; Q3 EPS was €0.38.

• Profit margin remained strong at 45% for the period.

• Net commissions increased to €85.8 million (from €77.7 million year-over-year).

• Total costs, including depreciation and impairment, were €49.9 million.

Segment performance

• Alternative assets under management grew to €3.1 billion in Q3 2025, with a CAGR of 24.7% since 2020.

• Wealth Management and Investor Clients: Net revenue up 16% to €81.2 million; operating profit up 33% to €39.2 million.

• Advisory and Corporate Clients: Net revenue down 40% to €4.7 million; operating profit down 95% to €0.1 million.

• Fixed income and alternative investments drove growth, with net subscriptions exceeding €1 billion.

• Evli ranked as the best performing fund house in Finland by Morningstar at the end of the period (3.89 stars).