Mangold (MANG) Q1 2026 earnings summary

Executive summary

• Revenue increased by 17.5% year-over-year to SEK 47.6m in Q1 2026, with net profit reaching SEK 3.8m compared to a loss of SEK -0.8m last year.

• Investment Banking drove growth, with total income up 76.4% year-over-year, while Private Banking maintained stable recurring revenues.

• The number of assignments with recurring income rose from 150 to 190, and the number of client accounts increased to 18,400.

• The company strengthened its position in strategic holdings, notably increasing its stake in Finserve Holding AB and Li Bess AB.

Financial highlights

• Operating income: SEK 47.6m (up 17.5% year-over-year; up 6.0% sequentially).

• Net profit: SEK 3.8m (from SEK -0.8m year-over-year; from SEK -1.9m previous quarter).

• Earnings per share: SEK 8.1 (from SEK -1.7 previous quarter).

• Equity at period end: SEK 232.8m (SEK 494.4 per share).

• Return on equity: 1.6% (from -0.4% year-over-year).

• Operating margin: 7.2% (from -1.6% previous year).

• Net interest income: SEK 8.4m (down from SEK 8.6m year-over-year and SEK 9.6m previous quarter).

• Credit losses: SEK -12.4m (up from SEK 0.2m year-over-year; SEK -0.4m previous quarter).

Outlook and guidance

• Management sees cautious optimism for Investment Banking, with longer decision cycles but signs of recovery.

• The business model, based on stable recurring income and diversified holdings, is considered robust for the remainder of 2026.