Mangold (MANG) Q4 2025 earnings summary

Executive summary

• Total income for 2025 increased by 7.2% to SEK 195.9m compared to 2024, with a total comprehensive income of SEK 32.5m versus SEK -4.5m last year.

• Earnings per share for the year rose to SEK 48.3 from SEK 3.7, while recurring revenue assignments reached a record 197.

• The business model proved resilient amid geopolitical and market uncertainty, with strong growth in new accounts and public deposits.

• Strategic investments, notably Finserve's acquisition of Resscapital, significantly boosted assets under management.

Financial highlights

• Q4 2025 income was SEK 44.9m, up from SEK 40.6m in Q4 2024, but EPS dropped to SEK -3.9 from SEK 8.7.

• Full-year pre-tax profit was SEK 26.1m, up from SEK 0.0m, mainly due to improved results from associates and financial transactions.

• Equity per share at year-end was SEK 497.7, up from SEK 428.5.

• Return on equity for the year was 10.9% (up from 0.9%), and the operating margin was 13.3%.

Outlook and guidance

• The group enters 2026 with a business model adapted for a changing market and expects continued growth and profitability.

• Increased focus on marketing and brand awareness is planned to drive further business expansion.