Mangold (MANG) Q2 2025 earnings summary

Executive summary

• Total income for April–June 2025 rose 46.7% year-over-year to SEK 62.2m, driven by strong growth in both Investment Banking and Private Banking segments.

• Net profit for the quarter was SEK 7.3m, up from SEK 0.7m last year; EPS improved to SEK 3.3 from SEK -1.9.

• Investment Banking income surged 73.9% to SEK 39.2m, while Private Banking income increased 20.5% to SEK 23.6m.

• Loan book reached SEK 268.5m, the highest at a quarter-end, with transaction volumes up 70% year-over-year.

• Strategic focus on efficiency and recurring revenue is yielding results, with continued customer inflow and improved cost control.

Financial highlights

• Operating income for Q2 2025 was SEK 62.2m, up from SEK 42.4m year-over-year; operating expenses rose to SEK 55.8m.

• Operating profit for the quarter was SEK 4.1m, compared to a loss of SEK 0.9m last year.

• For H1 2025, total income increased 10% to SEK 102.7m; pre-tax profit was SEK 3.5m, up from SEK 0.1m.

• Return on equity for Q2 was 0.8% (vs. -0.5% last year); equity per share rose to SEK 440.9.

• Cash flow for H1 2025 was positive at SEK 29.8m, mainly due to increased public deposits.

Outlook and guidance

• Strong deal flow and recurring revenue expected to continue into Q3, with ongoing focus on efficiency and customer value.

• M&A segment, established in 2023, is showing concrete results and a growing pipeline despite long lead times.