Core Insights - eQ Plc reported a decline in net revenue and operating profit for the year 2025, with net revenue at EUR 58.2 million, down 11% from EUR 65.6 million in 2024, and operating profit at EUR 27.4 million, down 21% from EUR 34.5 million [4][8] Financial Performance - The Group's net revenue for the Asset Management segment decreased by 3% to EUR 56.9 million, while operating profit fell by 5% to EUR 32.0 million [4][14] - The Corporate Finance segment's net revenue was EUR 1.7 million, a significant drop of 67% from EUR 5.3 million, with an operating profit of EUR -1.4 million compared to EUR 1.5 million in the previous year [4][16] - The Investments segment reported an operating profit of EUR -0.7 million, down from EUR 1.1 million, negatively impacted by changes in the value of residential funds and exchange rate fluctuations [4][17] Key Ratios - Earnings per share decreased by 21% to EUR 0.52 from EUR 0.66, with a proposed dividend also reduced by 21% to EUR 0.52 [5] - The cost/income ratio for the Group increased to 52.9% from 47.4%, indicating higher operational costs relative to income [5] - Return on equity (ROE) fell by 18% to 30.3% from 36.8% [5] Asset Management Insights - eQ Asset Management raised over EUR 230 million for Private Equity and Residential funds, with the eQ PE XVII US fund raising USD 190 million [9] - The management fees for the Asset Management segment fell by 5% to EUR 53.1 million, while performance fees increased by 24% to EUR 4.4 million [4][14] - Assets managed by eQ at the end of 2025 amounted to EUR 13.8 billion, up from EUR 13.4 billion in 2024 [5] Market Conditions - The year 2025 was characterized by geopolitical uncertainties, including the trade war and ongoing conflicts, which influenced market conditions [6][19] - Despite challenges, share prices rose in 2025, supported by strong corporate earnings and developments in artificial intelligence [7] - The Finnish real estate transaction market showed growth compared to the previous year, although overall market liquidity remained low [19][20] Strategic Outlook - eQ's updated strategy aims to return to strong growth by 2030, focusing on enhancing customer and employee experiences and expanding business internationally [18] - The company anticipates an increase in Private Equity allocations in investor portfolios, expecting Private Equity fees to rise in 2026 [22]