@Kasper_Mellas comments on Mandatum’s Q4 result, profit distribution, solvency, outlook and guidance as well as our estimates and recommendation at the moment! Inderes Mandatum Q4’23: Story is on track - Inderes Analyst Kasper Mellas comments on Mandatum’s Q4 result, profit distribution, solvency, outlook and guidance as well as our estimates and recommendation at the moment!

Här är en högkvalitativ analys av Mandatum. Mandatum published Q2 figures that were significantly better than our expectations. The earnings beat was mainly driven by investment performance, but the capital-light businesses also performed better than expected. Based on the Q2 report, we have raised our earnings forecasts for the coming years. However, we see that the best of the stock’s expected returns have been left behind by the recent rise in the share price, so we downgrade our recommendation to Reduce (was Accumulate) and reiterate our target price of EUR 4.5. Inderes Mandatum Q2'24: Best of expected return behind - Inderes Mandatum published Q2 figures that were significantly better than our expectations. The earnings beat was mainly driven by investment performance, but the capital-light businesses also performed better than expected.

Här är en ny och högkvalitativ analys av Mandatum Inderes There is value in the balance sheet - Inderes Mandatum published Q1 figures that fell short of our expectations. The earnings miss is explained by investment returns, which were slightly below our expectations. 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.

Saxo Bank överväger strategiska alternativ Inderes Market rumor: Saxo Bank is considering strategic options - Inderes Yesterday, Reuters reported a market rumor that Saxo Bank was again exploring strategic options for a change in its ownership structure. The news is not surprising as Saxo has been considering various options over the past few years, e.g., listing...

Here’s Mandatum’s annual report, it’s quite beautiful! mandatum.fi mandatum_group_annual_report_2023.pdf 8.86 MB

Mandatum väcker för närvarande investerares intresse, eftersom många anser att det är särskilt billigt jämfört med förväntningarna och dessutom betalar företaget en imponerande hög utdelning. Inderes Mandatum: The story is on track - Inderes Mandatum published a rather good operational Q4 result on Tuesday. The result was below our forecasts, but this was due to accounting technical issues, and we do not think the underperformance should be given substantial weight. In the capital-light... Mandatum published a rather good operational Q4 result on Tuesday. The result was below our forecasts, but this was due to accounting technical issues, and we do not think the underperformance should be given substantial weight. In the capital-light businesses that are important for growth, the development was better than we expected. After the report, our earnings forecasts increased slightly, but this is mainly due to non-recurring items.

Here’s a new, solid analysis of the much-discussed Mandatum. Worth reading. Mandatum published a Q3 report that was slightly below our expectations in terms of earnings figures. The miss was due to quarter-on-quarter volatility in investment performance, and the Group’s growth engine, the capital-light businesses, performed well ahead of our expectations. While the strong performance has raised the outlook for these businesses, our EBIT forecasts for the coming years have been slightly lowered due to the lower investment performance forecast. On the other hand, Mandatum’s valuation has become attractive following the share price decline, so we raise our recommendation to Accumulate and reiterate our target price of EUR 4.5. Inderes Mandatum Q3'24: Hopping back on board - Inderes Mandatum published a Q3 report that was slightly below our expectations in terms of earnings figures. The miss was due to quarter-on-quarter volatility in investment performance, and the Group's growth engine, the capital-light businesses, performed...