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. 
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.
