The earnings season has begun, and today two Finnish businesses reported improving profits. Evli and Saga Furs operate in very different markets, but both showed that earnings can grow even in uncertain conditions.

Nordic wealth manager Evli capped 2025 with a 30 percent increase in comparable operating profit to €56.1 million. Net revenue reached €128.5 million, and assets under management rose to a record €21.4 billion. International clients were a key driver, with net subscriptions of nearly €1 billion during the year. The Wealth Management and Investor Clients segment carried the result, while advisory income softened.

CEO Maunu Lehtimäki pointed to supportive markets but did not downplay the risks. “Investor optimism was supported by solid corporate earnings growth, falling interest rate expectations in the US, and widespread enthusiasm for artificial intelligence technology,” he said, adding that geopolitics and currency moves continue to cloud the outlook.

Saga Furs delivered a quieter improvement. For the financial year ended October 2025, operating profit slipped to €1.4 million, but higher financial income lifted profit before tax to €4.5 million, up from €3.5 million. Earnings per share increased to €1.00, and profitability improved clearly in the second half, even as the volume of pelts sold declined.

Looking ahead, Saga Furs stressed that the 2025–2026 result will depend on auction prices that cannot be forecast in advance.

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Business

Earnings season opens with early profit gains at Evli and Saga Furs 

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1 min read

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Market Signals

The earnings season has begun, and today two Finnish businesses reported improving profits. Evli and Saga Furs operate in very different markets, but both showed that earnings can grow even in uncertain conditions.

Nordic wealth manager Evli capped 2025 with a 30 percent increase in comparable operating profit to €56.1 million. Net revenue reached €128.5 million, and assets under management rose to a record €21.4 billion. International clients were a key driver, with net subscriptions of nearly €1 billion during the year. The Wealth Management and Investor Clients segment carried the result, while advisory income softened.

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CEO Maunu Lehtimäki pointed to supportive markets but did not downplay the risks. “Investor optimism was supported by solid corporate earnings growth, falling interest rate expectations in the US, and widespread enthusiasm for artificial intelligence technology,” he said, adding that geopolitics and currency moves continue to cloud the outlook.

Saga Furs delivered a quieter improvement. For the financial year ended October 2025, operating profit slipped to €1.4 million, but higher financial income lifted profit before tax to €4.5 million, up from €3.5 million. Earnings per share increased to €1.00, and profitability improved clearly in the second half, even as the volume of pelts sold declined.

Looking ahead, Saga Furs stressed that the 2025–2026 result will depend on auction prices that cannot be forecast in advance.

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Authors

Journalist

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

Journalist

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

Authors

Journalist

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

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