Mandatum Oyj Full Year 2023 Earnings: EPS Beats Expectations

Mandatum Oyj (HEL:MANTA) Full Year 2023 Results

Key Financial Results

• Revenue: €563.4m (down 47% from FY 2022).
• Net income: €160.7m (up 177% from FY 2022).
• Profit margin: 28% (up from 5.4% in FY 2022). The increase in margin was driven by lower expenses.
• EPS: €0.32 (up from €0.12 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Mandatum Oyj EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.7%.

The primary driver behind last 12 months revenue was the with Profit segment contributing a total revenue of €137.8m (24% of total revenue). Notably, cost of sales worth €299.0m amounted to 53% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling €85.5m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how MANTA's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 73% p.a. on average during the next 2 years, while revenues in the Insurance industry in Europe are expected to grow by 5.2%.

Performance of the market in Finland.

The company's shares are up 2.5% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Mandatum Oyj (1 is concerning) you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.