Mangold (MANG) Q3 2025 earnings summary

Executive summary

• Strong Q3 performance driven by record results from associated companies and high transaction activity, with the highest number of transactions ever for a third quarter, boosting commission income year-over-year.

• Strategic consolidation in fund management through Finserve Holding AB's acquisition of Resscapital AB, making the group the largest shareholder in the new entity with 41.5% ownership.

• Private Banking continued its growth for the fifth consecutive quarter, achieving record lending and increased recurring income.

Financial highlights

• Total revenue for Jan–Sep 2025 increased by 6.1% to SEK 151.0m (142.2m); Q3 revenue was SEK 48.3m (48.8m).

• Net profit for Jan–Sep 2025 was SEK 24.6m (–2.3m); Q3 net profit was SEK 23.9m (–2.3m).

• Operating margin for Jan–Sep 2025 was 18.8% (–1.5%); Q3 margin was 51.6% (–4.3%).

• Return on equity for Jan–Sep 2025 was 11.3% (–1.1%); Q3 was 10.9% (–1.2%).

• Earnings per share for Jan–Sep 2025 were SEK 52.3 (–5.0); Q3 EPS was SEK 50.7 (–5.0).

Outlook and guidance

• Continued focus on strengthening core businesses and diversifying income streams, with recurring income from Private Banking and growth from associated companies expected to drive further revenue increases.