MLP (MLP) Q4 2025 earnings summary

Executive summary

• Achieved record total revenue of EUR 1.08 billion in 2025, marking the twelfth consecutive year of growth, with 72% from recurring sales revenues.

• Assets under management reached EUR 65.9 billion and non-life insurance premium volume hit EUR 809 million, both at record levels.

• EBIT for 2025 was EUR 87.9 million, including a EUR 9.2 million one-off negative effect from real estate business restructuring; adjusted EBIT was EUR 97.1 million.

• Proposed dividend of EUR 0.36 per share, maintaining a yield above 5%.

• Strong focus on digitalization and AI integration to enhance client and consultant experience and operational efficiency.

Financial highlights

• Total revenue grew 1% year-over-year to EUR 1,079.6 million.

• EBIT declined 7% year-over-year to EUR 87.9 million due to a EUR 9.2 million one-off effect; adjusted EBIT would have been EUR 97.1 million.

• Net profit for 2025 was EUR 55.7 million, down 20% year-over-year; shareholders' equity increased to EUR 585 million.

• Earnings per share fell to EUR 0.51 from EUR 0.63 in the previous year.

• Recurring sales revenue accounted for 72% of total, supporting earnings stability.

Outlook and guidance

• EBIT forecast for 2026 is EUR 100–110 million, with a midterm target of EUR 140–155 million by 2028.

• Revenue expected to grow across all competence fields, supported by AI and disciplined cost management, with total revenue targeted at EUR 1.3–1.4 billion by 2028.

• Assets under management projected to rise to EUR 75–81 billion and non-life insurance portfolio to EUR 1.0–1.1 billion by 2028.

• Dividend payout ratio for 2025 at nearly 71%, slightly above the announced corridor.