There is value in the balance sheet
Mandatum published Q1 figures that fell short of our expectations. The earnings miss is explained by investment returns, which were slightly below our expectations. However, the capital-light businesses developed better than expected, so overall the quarterly report left a good impression.
Mandatum
4.49
4.50
Accumulate
Buy
Mandatum has operations within 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 and rewards, pension plans and personal risk insurance. The largest operations are found in Finland.
Read more on company pageKey Estimate Figures09.05
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 135.0 | 147.7 | 155.2 |
growth-% | 7.14 % | 9.42 % | 5.06 % |
EBIT (adj.) | 210.4 | 206.2 | 196.4 |
EBIT-% (adj.) | 155.85 % | 139.59 % | 126.56 % |
EPS (adj.) | 0.32 | 0.33 | 0.31 |
Dividend | 0.33 | 0.33 | 0.31 |
Dividend % | 8.11 % | 7.81 % | 7.44 % |
P/E (adj.) | 12.71 | 12.80 | 13.44 |
EV/EBITDA | 7.19 | 9.44 | 8.41 |