contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Kasper Mellas

Sauli Vilén

Mandatum operates in the financial sector. The company offers various financial services to both private savers and corporate customers. The range is broad and mainly includes capital and wealth management, savings and investments, compensation, pension plans and personal risk insurance. The largest operations are in Finland.

News Powered by Cision              Mandatum Asset Management mukaan tukemaan Novatronin kasvua ja...    Lehdistötiedote, 9.12.2025 klo 9.00  Suomalaisen teknologiayritys Novatronin kasvutarina saa                             The growth story of the Finnish technology company Novatron gains new momentum with an investment from Mandatum Asset Management’s Growth Equity II fund. The investment supports the international expansion and commercialization of innovations of the company specializing in infrastructure construction automation. The MAM Growth Equity II fund invests 12 million euros in the Finnish company Novatron, a pioneer in infrastructure construction digitalization, which develops machine control systems, sensor technology, OEM components, and software. The company has grown over 30 years to become a leading player in the field in Finland and the Nordic countries. The investment enables Novatron to accelerate growth, expand its product portfolio, and strengthen its position in the global market. Novatron’s technologies make construction more precise, faster, and more cost-effective. Machine control systems guide earthmoving machinery using GNSS and sensor technology, which reduces manual labor and improves accuracy: according to studies, excavation work can be accelerated by approximately 27% and productivity can increase by up to 50%. Solutions based on Novatron’s technology improve data and site management in infrastructure projects, reduce errors, and can lower project costs by several percentage points compared to traditional construction methods.

Regarding dividends. If one reflects on the over one billion to be distributed, then if next year the performance-based dividend were 0.15 + an additional dividend of 0.85, an additional dividend of approximately 1.15 would remain for the next two years, i.e., 0.575 per year, plus an estimated performance-based dividend of 0.15. So, would the following years also be 72.5 c/share? Are analysts’ dividend forecasts therefore a bit pessimistic? The assumption is that this performance-based dividend would also be growing and that there would continue to be enough calculation basis interest rate to distribute?

That final comment about dividends, “I want to emphasize the word over” when he spoke about over a billion in dividends. Surely, that can only be read as meaning that the amount exceeding a billion that is being distributed is not small.

Inderes              Mandatum sijoituskohteena | Sijoittaja 2025 - Inderes    Aika: 27.11.2025 klo 14.58 Mandatumin toimitusjohtaja Petri Niemisvirta kertoo yhtiön liiketoiminnasta Sijoittaja 2025 -tapahtumassa.

News Powered by Cision              Mandatumille erinomaista menestystä PRI-arvioinnissa – täydet viisi tähteä...    Lehdistötiedote, 27.11.2025 klo 9.00  Mandatum saavutti jälleen erinomaiset tulokset YK:n                             Mandatum has been committed to the UN Principles for Responsible Investment (PRI) since 2011. In accordance with these principles, the company is committed to integrating ESG factors into its investment process, acting as an active owner, and promoting the principles of responsible investment. The annual PRI assessment measures responsible investment practices and the implementation of the UN Principles for Responsible Investment in investment activities. The assessment received now covers the operating year 2024. In the latest assessment, Mandatum participated in a total of twelve categories. The company achieved the highest five-star rating in seven categories: active indirect fixed income, indirect private equity, indirect real estate, direct listed equities, direct real estate, direct private equity, and direct corporate bonds. In addition, the company participated for the first time in the passive indirect fixed income category, where it immediately achieved four stars. PRI is an international non-profit organization that annually assesses its members’ investment activities and responsible investment practices. The assessment tells organizations how the principles of responsible investment are implemented in investment activities across different asset classes and which areas of investment activities need development. The 2025 PRI reports can be viewed here:   PRI Assessment Report   PRI Transparency Report

Mandatum was rated Finland’s best private wealth manager in Kantar Prospera’s latest survey. The Top 5 were as follows:  Mandatum Ålandsbanken Nordea OP Danske Bank                    Inderes              Mandatum Oyj: Mandatum arvioitiin Suomen parhaaksi yksityisvarainhoitajaksi...    Lehdistötiedote 21.11.2025 klo 12.45Mandatum valittiin Suomen parhaaksi yksityisvarainhoitajaksi Kantar Prosperan Private Banking 2025 Finland -asiakastutkimuksessa. Tutkimuksesta käy ilmi, ...                             Although the sample size is quite limited (503 individuals) and thus does not precisely represent the entire market, the top position is nevertheless a strong indication of customer satisfaction. This is, of course, no surprise, as the company has ranked among the top positions before (second place after Ålandsbanken in 2023 and 2024). At the same time, the assets under management in this segment have developed very strongly (+44% Q3’23–Q3’25):  Private Banking (investable assets +500 TEUR) and ultra-high-net-worth individuals (investable assets in millions) are indeed Mandatum’s clear focus area in Finland. The long-term growth outlook in the market is also strong, as structural factors are generally favorable (more on these in, for example, the comprehensive report). Of course, almost all asset management companies try to get their share of this, and as an example, Nordea and Aktia elevated Private Banking clients to a central piece of their growth plans in their latest strategy updates. Competition is thus fierce, but Mandatum’s high customer satisfaction and good reputation undoubtedly help it stand out.

News Powered by Cision              Mandatumin korkostrategia voitti arvostetun Scope Award -palkinnon    Lehdistötiedote, 21.11.2025 klo 9.00  Mandatumin Fixed Income Total Return -rahasto voitti                             The Scope Award 2026 gala awarded the Mandatum Fixed Income Total Return Fund as the best in the category “Best Bond Global Aggregate EUR” in the German fund market. The prestigious Scope Award is an annual recognition for funds that have consistently succeeded in generating strong risk-adjusted returns compared to other similar funds. This year, 119 funds competed in the Best Bond Global Aggregate EUR category. Mandatum’s Fixed Income Total Return Fund is an actively managed strategy that primarily invests in the Nordic and European investment grade markets.

Mandatum

Mandatum’s investor story is based on two cornerstones: growth in capital-light asset management and a significant release of capital from a continuously declining with-profit business. With our estimates, we find the share's valuation to be very attractive from several angles, and an exceptionally attractive dividend outlook clearly supports the share.

<p>Mandatum’s investor story is based on two cornerstones: growth in capital-light asset management and a significant release of capital from a continuously declining with-profit business. With our estimates, we find the share's valuation to be very attractive from several angles, and an exceptionally attractive dividend outlook clearly supports the share. </p> 

	2022	23e	24e
Revenue	126.0	127.7	137.8
growth-%	-58.8 %	1.3 %	7.9 %
EBIT (adj.)	75.7	184.7	214.0
EBIT-% (adj.)	60.1 %	144.7 %	155.3 %
EPS (adj.)	0.15	0.29	0.34
Dividend	0.39	0.33	0.35
Dividend %		5.1 %	5.4 %
P/E (adj.)	-	22.3	19.1
EV/EBITDA	-	17.5	15.2

Mandatum: Balance sheet full of dividends

Key Estimate Figures2023-10-12

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