Evli (EVLI) Q4 2025 earnings summary

Executive summary

• Comparable operating profit increased 30% year-over-year to EUR 56.1 million for 2025, marking an excellent year despite a turbulent market environment.

• Net revenue rose 17% year-over-year to EUR 128.5 million, driven by strong fund inflows, product expansion, and international sales.

• Assets under management reached a record EUR 21.4 billion, up from EUR 18.9 billion, with international net subscriptions nearing EUR 1 billion.

• Alternative investment funds saw net new capital of over EUR 330 million in 2025.

• The company was recognized as Finland's best asset manager in major institutional surveys.

Financial highlights

• Net revenue for 2025 was EUR 128.5 million, up from EUR 109.7 million (excluding incentive business transaction).

• Operating profit reached EUR 56.1 million, up from EUR 43.3 million year-over-year (comparable basis).

• Return on equity was 28.4% (previous year: 34.4%).

• Earnings per share (fully diluted) increased to EUR 1.63 from EUR 1.33.

• Dividend per share rose to EUR 1.23, as proposed by the Board.

Outlook and guidance

• Operating environment expected to remain uncertain in 2026 due to geopolitical risks and economic growth concerns.

• Operating profit for 2026 estimated to remain clearly positive, supported by a strong market position and broad product range.

• Long-term targets include AUM of EUR 30 billion, EBIT margin of 30%, ROE of 25%, and recurring revenue ratio above 130%.