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Earnings per share
Undiluted earnings per share are calculated
by dividing the profit or loss
attributable to the parent company\u2019s
shareholders by the weighted average
number of shares in circulation
during the financial period, excluding
Evli shares acquired and held by the Group
during the period. Diluted earnings per share are
calculated by
adjusting the weighted average
number of shares by the dilutive
effect of the stock options
granted under
share-based incentive programs.
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"ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_332": { "value": "-200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_333": { "value": "-4100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_334": { "value": "-800000.0", "decimals": -5, "dimensions": { "concept": "evli:ChangesInLoansFromCreditInstitutionsClassifiedAsFinancingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_335": { "value": 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"scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_339": { "value": "4200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_340": { "value": "2800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_341": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_342": { "value": "-41400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_343": { "value": "-34800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_135A": { "value": "131200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_344": { "value": "126000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_345": { "value": "0.0", "decimals": -5, "dimensions": { "concept": 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"ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_348": { "value": "5400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_2": { "value": "
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\n\"doc1p59i1\"\n
Additional information to the cash flow statement
In the cash flow statement,
the flows of cash and cash equivalents
during the financial year are presented for
all operations. The cash flow statement
has been prepared in accordance with
the indirect method, where cash
inflows and outflows are reported
primarily in gross terms.
Cash flows are classified as cash flows
from
operating activities,
cash flows from investing
activities and cash flows from financing activities.
Cash flow from operating activities
Operating activities
are the principal revenue-producing activities.
Cash flows are primarily fees
and interest
received, and payments to providers
of goods and services and personnel. Changes in operating
assets and
liabilities consist of assets
and liabilities that are part of normal business activities, such as loans, deposits and
debt securities in issue. Pending transactions and changes
in the trading book are presented
in net terms.
Cash flow from investing activities
Cash flow from investing
activities consists of investments
in intangible rights such as software
licenses and
client agreements, and payments
related to mergers
and acquisitions.
Cash flow from financing activities
Financing activities include payments from equity
items to shareholders,
share issues and payments of leasing
liabilities.
Cash and cash equivalents
Cash assets consist of cash,
and loans to banks payable on demand.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_252": { "value": "53700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ID_253": { "value": "-5100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "ID_254": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "ID_255": { "value": "17500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "evli:FundOfInvestedNonRestrictedEquityMember", "unit": "iso4217:EUR" } }, "ID_256": { "value": "67500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ID_257": { "value": "133000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_258": { "value": "4100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "ID_189A": { "value": "137200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_259": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "ID_260": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_261": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "ID_239A": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_265": { "value": "44600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ID_266": { "value": "44600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_267": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "ID_229A": { "value": "49900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:984500F4CCF3AD74F766", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_271": { "value": 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1.1.
Basic information on
the company
The Evli Plc (\u201cEvli\u201d,
\u201cEvli Group\u201d or \u201cGroup\u201d)
is Finland\u2019s
leading asset manager,
serving institutional, corporate
and private clients. The services
include mutual funds, asset management and capital
markets services,
alternative investment
products, corporate
analysis,
and M&A services. Responsibility is part of every
investment decision, and our expertise
in responsibility issues is
valued by our clients. Evli Plc was
created on
April 2, 2022 through a partial demerger from
Evli Bank Plc. In the partial
demerger,
all assets, liabilities and
exposures related to
Evli Bank Plc\u2019s
wealth management business, custody,
clearing and brokerage and
corporate finance businesses
and their supporting activities were transferred
to a new,
independent company
Evli Plc.
The Group\u2019s
parent company,
Evli Plc (\u201cCompany\u201d), is a Finnish limited liability
company incorporated under
the laws of Finland with the Business ID 3239286-2. The Company is
domiciled in Helsinki, and its registered
address is Aleksanterinkatu
19, 00100 Helsinki, Finland. The company is listed
on the Nasdaq Helsinki stock
exchange.
These financial statements were
approved by the Board
of Directors
at its meeting on February 14, 2025.
According to the Finnish Companies Act, the Annual General
Meeting has the right to approve, reject
or
amend the financial statements
after they have been published.
A copy of the consolidated financial statements can be obtained
from evli.com or from the parent company\u2019s
head office at Aleksanterinkatu 19, 00100 Helsinki, Finland.
1.2.
Basis for preparation of the financial statements
The consolidated financial statements
have been prepared
in compliance with IFRS (International Financial
Reporting Standards),
approved for application in
the EU, and IAS (International
Accounting Standards) valid
at
the end of the 2025 financial year,
together with their respective SIC
(Standing Interpretations Committee)
and IFRIC (International Financial Reporting
Interpretations
Committee) interpretations.
In addition, Finland\u2019s
accounting and limited liability
company legislation and official regulations
have also been considered in the
preparation of the consolidated
financial statements.
The financial year for Evli
Group is the calendar year.
The consolidated financial statements
have been prepared
based on historical cost, with
the exception of
financial assets and liabilities recognized at
fair value through
profit or loss, and derivative
financial
instruments.
The consolidated financial statements
have been prepared
on a going concern basis. This assumes that the
Group has sufficient resources
to continue as a going concern
and that the management intends to do
so, at
least for one year from
the date of signing the financial statements.
The general accounting policies for
the preparation of the consolidated
financial statements are
described
later in this section. Information
about the judgments made by the management in the process
of applying
the Group\u2019s
accounting policies and that have the most
significant impact on the amounts recognized
in the
financial statements,
and about the assumptions concerning the future and the key
assumptions underlying
estimates, are
disclosed under item 1.5 Matters
requiring management judgment of the accounting policies.
The financial information is
mainly presented in millions of euros. All
figures shown are rounded, and the sum
of the individual figures may differ
from the total shown. The indicators
are calculated using exact
values.
1.3.
Translation
of items denominated in foreign currency
The figures showing the profit/loss
and financial position of the Group\u2019s
units are measured in the currency
used in each unit\u2019s main functional environment
(\u201cfunctional currency\u201d). The consolidated financial
statements are presented
in euros, which is
the functional and presentation currency of the Group\u2019s
parent
company.
Foreign currency transactions are
translated into
the functional currency using the exchange
rates prevailing
on the date of the transaction. Monetary balance
sheet items are translated
into the functional currency at
the rate prevailing
on the balance sheet date. Exchange rate
differences arising
in connection with the
valuation are included in net income from
foreign exchange
operations.
The income statements of foreign
Group entities are
translated into euros
at the weighted average
rates for
the period, and the balance sheets at the rates prevailing
on the balance sheet date. In the consolidated
income statement and
balance sheet, the translation differences
resulting from the use of different
rates for
the translation of Group results
for the period is recognized
in income and expenses recognized
directly in
equity and presented under equity.
The translation differences
arising from the elimination
of the acquisition
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
cost of foreign subsidiaries
and from post-acquisition
cumulative changes in equity items are
recognized in
income and expenses recognized
directly in equity and presented under equity.
When a subsidiary is disposed
of wholly or partly,
the cumulative translation differences
are recognized in
profit or loss as part of gains
or
losses from disposal.
1.4.
Financial assets and liabilities
The Group\u2019s
financial assets are classified in accordance with
the IFRS 9 Financial Instruments
standard as
follows:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
c)
those measured at fair value
through other comprehensive
income
The classification is based on the business model defined by
the Group and the type of contractually
accrued
cash flows of financial assets. On initial
recognition, the Group measures a financial asset
item at fair value,
and in the case of a financial asset item that is
not measured at fair value through profit
or loss, the
transaction costs directly
attributable to the item are
added or deducted. Financial assets measured at fair
value through profit or loss
are initially recognized at fair
value in the balance sheet and transaction costs
are
recognized through profit
or loss.
\u2018Financial assets measured at amortized cost\u2019 comprise
financial assets whose business model is to
hold
financial assets and collect contractual cash flows
consisting exclusively
of payments of principal and interest.
This item includes sales receivables,
loan and other receivables and cash and cash equivalents.
Assets
classified under the group are measured at amortized
cost using the effective
interest rate
method. The
carrying amount of current sales
and other receivables is deemed to be equal to their fair
value. These items
are current assets if
they are expected to be realized
within 12 months of the end of the reporting period. The
Group\u2019s
sales receivables are
mainly short-term. The group recognizes
a deduction for expected credit
losses
on financial assets measured at amortized cost.
Financial assets that are classified at
initial recognition as those measured at fair
value through profit or loss
are classified in \u2018Financial assets measured at
fair value through profit
or loss\u2019.
Evli\u2019s
fund investments are
classified as financial assets recognized at
fair value through
profit or loss. Investments
in funds are included in
the balance sheet item Shares and participations. The fair
value of liquid mutual fund investments is
determined using quoted market prices
and rates. Equity
fund investments
are generally valued in
accordance
with industry practice; the fair
value of equity and real estate
fund investments is
the most recent fund value
reported by the fund management company,
plus capital contributions and
less capital redemptions that
have
occurred between the balance sheet date and the management
company\u2019s
reporting date. The fair
value of
real estate owned
by real estate
funds is based on the fair value
determined by an external assessor.
A financial asset is derecognized when the contractual
rights to the cash flows from
the financial asset expire
or the Group has transferred
substantially
all the risks and rewards of ownership
of the financial asset to an
external party.
Cash assets consist of cash and cash equivalents.
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
Financial liabilities are classified into the following
groups:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
On initial recognition, the Group measures a financial
liability at fair
value and, in the case of a financial
liability not measured at fair value
through profit or loss,
the transaction costs directly attributable
to the item
will be added or deducted. Financial liabilities measured at
fair value through profit
or loss are initially
recognized in the balance sheet at fair
value and transaction costs
are recognized through
profit or loss.
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
A financial liability or part of it is derecognized
only when the liability ceases to exist, i.e.
when the obligation
specified in the contract is
discharged or cancelled or expires.
Hedge accounting
The Group does not apply hedge accounting in
accordance with IFRS
9 in the financial statements.
1.5.
Matters requiring management judgment
The drawing up of financial statements
in accordance with IFRS
standards requires
that certain accounting
assessments are made. In addition, management must
use its judgment. Judgment affects
the choice of
accounting policies and their application, the amount of assets,
liabilities, revenues and expenses to be
reported and the notes that must be presented.
The management will exercise
its judgment on the basis of
estimates and assumptions that are
based on earlier experience and the best view available
to it on the
balance sheet date especially concerning the future performance
of the investment services
market.
Estimates and decisions based on judgment are constantly
monitored and they are based on actual
performance and certain other factors
such as expected future events
that are reasonably anticipated
to
occur considering prevailing circumstances.
Actual performance may deviate
from estimates.
At Evli, the most
significant estimates concern the impairment
testing of goodwill and the measurement
principles of theoretically measured financial instruments.
Further information on them is provides
in the note
in question, under the title \u201cManagement judgment\u201d.
1.6.
Provisions
A provision is recognized
when the Group has a legal or constructive
obligation as a result of a past
event, and
it is probable that an outflow of economic benefits
will be required to settle the obligation
,
and the Group can
reliably estimate
the amount of the obligation.
1.7.
Adoption of new and amended
standards and interpretations applicable in
future financial years
The IFRS 18 accounting standard will become effective on January 1, 2027. The
standard will be applied
for the
first time to financial periods beginning
on or after January 1, 2027.
Accordingly, the financial year 2026 will serve
as the comparative period under the new standard in the
financial statements for 2027. The company is assessing
the impacts of the new standard on the preparation
and presentation of its financial statements in future
reporting periods.
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
The right-of-use is amortized on a straight
-line basis and deferred
interest expense
on the lease liability is
recognized on the income statement.
The Evli Group recognizes
the right-of-use asset and the lease liability at
the inception of the lease. Initially,
the lease liability is measured at current value of the rents
that have not
been paid at the inception of the lease. The future cash flows
of the leases have been discounted to the
current value using the company\u2019s
cost of funds rate. Rents
payable are allocated to
equity and interest
expense. The interest expense
is recognized in the income
statement over
the lease term through profit
or
loss so that the interest
rate on the outstanding debt
is the same in each period. The company has not
calculated a separate interest
component for
the assets required for financing the
lease liabilities due to the
company\u2019s
assessment of the effect beeing immaterial
when assessing the right-of-use assets and
corresponding liabilities.. Depreciation on the right
-of-use
asset is recognized on a straight
-line basis from the
inception of the lease over the lease term.
Typically,
lease contract terms range between
two and five years
and may contain an option to extend the
lease term. The Company has negotiated individual
contracts with potentially differing
terms and conditions
for each location. Potential
options to extend current
leases have not been considered due to uncertainty
related to the use of those options.
Leases in which substantially
all the risks and rewards of ownership
are retained by the lessor
are classified as
other leases. Payments made on operating
leases are recognized
in profit or loss on a straight
-line basis over
the lease term.
Treasury
shares
The consideration paid for treasury
shares and the transaction
costs directly attributable
to the acquisition,
adjusted for tax effects,
are deducted from equity until the
shares are cancelled or reissued.
If these treasury
shares are subsequently reissued,
the consideration received is
recognized directly in equity,
net of any
transaction costs directly
attributable to the issue and of the tax
portion.
The Board of Directors
is authorized by the General Meeting
to acquire a maximum of 1,44
0,581 A shares and
a maximum of 1,207,908 B shares.
Under the authorization, treasury shares
may only be acquired with
unrestricted equity.
The authorization is valid until
the end of the next Annual General Meeting, but not later
than June 30, 2025.
Segment information is reported in
accordance with the Group\u2019s
division of business and geographical
segments. The business segments consist
of business units whose products and services and earnings logic
and profitability
differ from one another.
The business risks related
to the business segments are also
different.
Evli\u2019s
operations are divided by client type and services into
two segments: the Wealth Management
and Investor Clients
segment and the Advisory and Corporate Clients
segment. Operations not included above
are classified as Group Operations.
and the business segments mentioned above make
use of these
operations.
The Wealth Management and Investor
Clients segment offers
personal asset management services to present
and future high net worth private individuals
and institutions. The product and service selection includes fund
products offered
by Evli and its
partners. and various capital market
services and alternative investment
products. The segment also includes production and implementation
activities that directly support core
activities.
The Advisory and Corporate Clients segment provides
services related to M&A transactions. including
corporate acquisitions
and divestments. and advisory services related to IPOs
and share issues. The segment
also provides corporate
analysis services for listed
companies.
The Group Operations segment
includes support functions serving the business areas. such as Information
Management. Financial Administration.
Group Marketing, Communications and Investor
Relations. Legal
Department. Human Resources and Internal
Services. The company\u2019s
own investment operations
that support
the company\u2019s
operations. and the Group\u2019s
supervisory functions; Compliance. Risk Control and Internal
Audit. are also part of Group Operations.
Inter-segment pricing occurs in arm\u2019s
length transactions at fair
value. The revenue and expenses that are
deemed as directly attributable to or can
be allocated on a reasonable basis
to a particular business area are
allocated to that business
area. The revenue and expenses
that are not allocated to a particular business
area.
and the inter-business area eliminations in
the Group. are reported under Group Operations.
The distribution
of the Group\u2019s
assets and liabilities among the business areas is not monitored on a regular
basis and is
therefore not reported
in connection with the segment reporting.
The treatment of assets and liabilities is
explained in the accounting policies in section 1.4. When valuing
financial assets and liabilities, Evli classifies balance sheet items
into three levels depending on how the
valuation level is
determined. For Level 1 balance sheet items,
fair values are based on published price
quotations in active markets.
For Level 2, the values are
determined using valuation models with inputs other
than the quoted prices at Level 1 that are directly
or indirectly observable for
the asset or liability.
The fair
values of Level 3 items are
determined using valuation models
with inputs that are not directly observable for
the asset or liability.
Valuation level
1 includes quoted shares and participations, mutual funds, exchange
-traded derivatives,
and
debt securities quoted on active public and over-the-counter
markets.
Level 3 shares and participations are generally
instruments that are not
publicly quoted, such as equity and
real estate funds,
unquoted shares and warrants.
Level 2 derivatives are
forward contracts whose
valuation is
calculated using quoted market
parameters
such as interest
rates and exchange
rates. Derivatives
at level 3
are derivatives
whose valuations have been calculated
using commonly used derivative
pricing models such as
Black- Scholes, or,
in the case of OTC instrument,
obtained from a counterparty.
Valuation involves
parameters that are
not quoted on the market, such as volatility.
If the volatility used is the publicly available
historical volatility,
the change will not have a significant
impact on the fair values of level
3 options.
Valuations
of debt securities obtained from markets
that are not fully
active are assigned to valuation level
2.
Valuations
of debt securities at valuation level
3 are valuations of illiquid instruments
obtained directly from
the organizer
of the issue or calculated by Evli.
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_4": { "value": "
1.1.
Basic information on
the company
The Evli Plc (\u201cEvli\u201d,
\u201cEvli Group\u201d or \u201cGroup\u201d)
is Finland\u2019s
leading asset manager,
serving institutional, corporate
and private clients. The services
include mutual funds, asset management and capital
markets services,
alternative investment
products, corporate
analysis,
and M&A services. Responsibility is part of every
investment decision, and our expertise
in responsibility issues is
valued by our clients. Evli Plc was
created on
April 2, 2022 through a partial demerger from
Evli Bank Plc. In the partial
demerger,
all assets, liabilities and
exposures related to
Evli Bank Plc\u2019s
wealth management business, custody,
clearing and brokerage and
corporate finance businesses
and their supporting activities were transferred
to a new,
independent company
Evli Plc.
The Group\u2019s
parent company,
Evli Plc (\u201cCompany\u201d), is a Finnish limited liability
company incorporated under
the laws of Finland with the Business ID 3239286-2. The Company is
domiciled in Helsinki, and its registered
address is Aleksanterinkatu
19, 00100 Helsinki, Finland. The company is listed
on the Nasdaq Helsinki stock
exchange.
These financial statements were
approved by the Board
of Directors
at its meeting on February 14, 2025.
According to the Finnish Companies Act, the Annual General
Meeting has the right to approve, reject
or
amend the financial statements
after they have been published.
A copy of the consolidated financial statements can be obtained
from evli.com or from the parent company\u2019s
head office at Aleksanterinkatu 19, 00100 Helsinki, Finland.
The financial information is
mainly presented in millions of euros. All
figures shown are rounded, and the sum
of the individual figures may differ
from the total shown. The indicators
are calculated using exact
values.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_5": { "value": "
These financial statements were
approved by the Board
of Directors
at its meeting on February 14, 2025.
According to the Finnish Companies Act, the Annual General
Meeting has the right to approve, reject
or
amend the financial statements
after they have been published.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_6": { "value": "
1.2.
Basis for preparation of the financial statements
The consolidated financial statements
have been prepared
in compliance with IFRS (International Financial
Reporting Standards),
approved for application in
the EU, and IAS (International
Accounting Standards) valid
at
the end of the 2025 financial year,
together with their respective SIC
(Standing Interpretations Committee)
and IFRIC (International Financial Reporting
Interpretations
Committee) interpretations.
In addition, Finland\u2019s
accounting and limited liability
company legislation and official regulations
have also been considered in the
preparation of the consolidated
financial statements.
The financial year for Evli
Group is the calendar year.
The consolidated financial statements
have been prepared
based on historical cost, with
the exception of
financial assets and liabilities recognized at
fair value through
profit or loss, and derivative
financial
instruments.
The consolidated financial statements
have been prepared
on a going concern basis. This assumes that the
Group has sufficient resources
to continue as a going concern
and that the management intends to do
so, at
least for one year from
the date of signing the financial statements.
The general accounting policies for
the preparation of the consolidated
financial statements are
described
later in this section. Information
about the judgments made by the management in the process
of applying
the Group\u2019s
accounting policies and that have the most
significant impact on the amounts recognized
in the
financial statements,
and about the assumptions concerning the future and the key
assumptions underlying
estimates, are
disclosed under item 1.5 Matters
requiring management judgment of the accounting policies.
The financial information is
mainly presented in millions of euros. All
figures shown are rounded, and the sum
of the individual figures may differ
from the total shown. The indicators
are calculated using exact
values.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_7": { "value": "
The consolidated financial statements
have been prepared
in compliance with IFRS (International Financial
Reporting Standards),
approved for application in
the EU, and IAS (International
Accounting Standards) valid
at
the end of the 2025 financial year,
together with their respective SIC
(Standing Interpretations Committee)
and IFRIC (International Financial Reporting
Interpretations
Committee) interpretations.
In addition, Finland\u2019s
accounting and limited liability
company legislation and official regulations
have also been considered in the
preparation of the consolidated
financial statements.
The financial year for Evli
Group is the calendar year.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_8": { "value": "
The financial information is
mainly presented in millions of euros. All
figures shown are rounded, and the sum
of the individual figures may differ
from the total shown. The indicators
are calculated using exact
values.
1.3.
Translation
of items denominated in foreign currency
The figures showing the profit/loss
and financial position of the Group\u2019s
units are measured in the currency
used in each unit\u2019s main functional environment
(\u201cfunctional currency\u201d). The consolidated financial
statements are presented
in euros, which is
the functional and presentation currency of the Group\u2019s
parent
company.
Foreign currency transactions are
translated into
the functional currency using the exchange
rates prevailing
on the date of the transaction. Monetary balance
sheet items are translated
into the functional currency at
the rate prevailing
on the balance sheet date. Exchange rate
differences arising
in connection with the
valuation are included in net income from
foreign exchange
operations.
The income statements of foreign
Group entities are
translated into euros
at the weighted average
rates for
the period, and the balance sheets at the rates prevailing
on the balance sheet date. In the consolidated
income statement and
balance sheet, the translation differences
resulting from the use of different
rates for
the translation of Group results
for the period is recognized
in income and expenses recognized
directly in
equity and presented under equity.
The translation differences
arising from the elimination
of the acquisition
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
cost of foreign subsidiaries
and from post-acquisition
cumulative changes in equity items are
recognized in
income and expenses recognized
directly in equity and presented under equity.
When a subsidiary is disposed
of wholly or partly,
the cumulative translation differences
are recognized in
profit or loss as part of gains
or
losses from disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_9": { "value": "
1.3.
Translation
of items denominated in foreign currency
The figures showing the profit/loss
and financial position of the Group\u2019s
units are measured in the currency
used in each unit\u2019s main functional environment
(\u201cfunctional currency\u201d). The consolidated financial
statements are presented
in euros, which is
the functional and presentation currency of the Group\u2019s
parent
company.
Foreign currency transactions are
translated into
the functional currency using the exchange
rates prevailing
on the date of the transaction. Monetary balance
sheet items are translated
into the functional currency at
the rate prevailing
on the balance sheet date. Exchange rate
differences arising
in connection with the
valuation are included in net income from
foreign exchange
operations.
The income statements of foreign
Group entities are
translated into euros
at the weighted average
rates for
the period, and the balance sheets at the rates prevailing
on the balance sheet date. In the consolidated
income statement and
balance sheet, the translation differences
resulting from the use of different
rates for
the translation of Group results
for the period is recognized
in income and expenses recognized
directly in
equity and presented under equity.
The translation differences
arising from the elimination
of the acquisition
\n
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\n
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\n
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\n
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cost of foreign subsidiaries
and from post-acquisition
cumulative changes in equity items are
recognized in
income and expenses recognized
directly in equity and presented under equity.
When a subsidiary is disposed
of wholly or partly,
the cumulative translation differences
are recognized in
profit or loss as part of gains
or
losses from disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_10": { "value": "
1.4.
Financial assets and liabilities
The Group\u2019s
financial assets are classified in accordance with
the IFRS 9 Financial Instruments
standard as
follows:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
c)
those measured at fair value
through other comprehensive
income
The classification is based on the business model defined by
the Group and the type of contractually
accrued
cash flows of financial assets. On initial
recognition, the Group measures a financial asset
item at fair value,
and in the case of a financial asset item that is
not measured at fair value through profit
or loss, the
transaction costs directly
attributable to the item are
added or deducted. Financial assets measured at fair
value through profit or loss
are initially recognized at fair
value in the balance sheet and transaction costs
are
recognized through profit
or loss.
\u2018Financial assets measured at amortized cost\u2019 comprise
financial assets whose business model is to
hold
financial assets and collect contractual cash flows
consisting exclusively
of payments of principal and interest.
This item includes sales receivables,
loan and other receivables and cash and cash equivalents.
Assets
classified under the group are measured at amortized
cost using the effective
interest rate
method. The
carrying amount of current sales
and other receivables is deemed to be equal to their fair
value. These items
are current assets if
they are expected to be realized
within 12 months of the end of the reporting period. The
Group\u2019s
sales receivables are
mainly short-term. The group recognizes
a deduction for expected credit
losses
on financial assets measured at amortized cost.
Financial assets that are classified at
initial recognition as those measured at fair
value through profit or loss
are classified in \u2018Financial assets measured at
fair value through profit
or loss\u2019.
Evli\u2019s
fund investments are
classified as financial assets recognized at
fair value through
profit or loss. Investments
in funds are included in
the balance sheet item Shares and participations. The fair
value of liquid mutual fund investments is
determined using quoted market prices
and rates. Equity
fund investments
are generally valued in
accordance
with industry practice; the fair
value of equity and real estate
fund investments is
the most recent fund value
reported by the fund management company,
plus capital contributions and
less capital redemptions that
have
occurred between the balance sheet date and the management
company\u2019s
reporting date. The fair
value of
real estate owned
by real estate
funds is based on the fair value
determined by an external assessor.
The \u2018Financial assets measured at fair
value through other comprehensive income\u2019 category
includes the
investment made by Evli
in Alisa Bank Plc. The investment is
of a long-term nature and is not related to the
group\u2019s
operating activities.
For these reasons, the company presents
the effect on profit
or loss arising from
the measurement of the investment
as a separate item
in the statement of comprehensive
income in
accordance with IFRS
9.
A financial asset is derecognized when the contractual
rights to the cash flows from
the financial asset expire
or the Group has transferred
substantially
all the risks and rewards of ownership
of the financial asset to an
external party.
Cash assets consist of cash and cash equivalents.
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_11": { "value": "
1.4.
Financial assets and liabilities
The Group\u2019s
financial assets are classified in accordance with
the IFRS 9 Financial Instruments
standard as
follows:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
c)
those measured at fair value
through other comprehensive
income
The classification is based on the business model defined by
the Group and the type of contractually
accrued
cash flows of financial assets. On initial
recognition, the Group measures a financial asset
item at fair value,
and in the case of a financial asset item that is
not measured at fair value through profit
or loss, the
transaction costs directly
attributable to the item are
added or deducted. Financial assets measured at fair
value through profit or loss
are initially recognized at fair
value in the balance sheet and transaction costs
are
recognized through profit
or loss.
\u2018Financial assets measured at amortized cost\u2019 comprise
financial assets whose business model is to
hold
financial assets and collect contractual cash flows
consisting exclusively
of payments of principal and interest.
This item includes sales receivables,
loan and other receivables and cash and cash equivalents.
Assets
classified under the group are measured at amortized
cost using the effective
interest rate
method. The
carrying amount of current sales
and other receivables is deemed to be equal to their fair
value. These items
are current assets if
they are expected to be realized
within 12 months of the end of the reporting period. The
Group\u2019s
sales receivables are
mainly short-term. The group recognizes
a deduction for expected credit
losses
on financial assets measured at amortized cost.
Financial assets that are classified at
initial recognition as those measured at fair
value through profit or loss
are classified in \u2018Financial assets measured at
fair value through profit
or loss\u2019.
Evli\u2019s
fund investments are
classified as financial assets recognized at
fair value through
profit or loss. Investments
in funds are included in
the balance sheet item Shares and participations. The fair
value of liquid mutual fund investments is
determined using quoted market prices
and rates. Equity
fund investments
are generally valued in
accordance
with industry practice; the fair
value of equity and real estate
fund investments is
the most recent fund value
reported by the fund management company,
plus capital contributions and
less capital redemptions that
have
occurred between the balance sheet date and the management
company\u2019s
reporting date. The fair
value of
real estate owned
by real estate
funds is based on the fair value
determined by an external assessor.
The \u2018Financial assets measured at fair
value through other comprehensive income\u2019 category
includes the
investment made by Evli
in Alisa Bank Plc. The investment is
of a long-term nature and is not related to the
group\u2019s
operating activities.
For these reasons, the company presents
the effect on profit
or loss arising from
the measurement of the investment
as a separate item
in the statement of comprehensive
income in
accordance with IFRS
9.
A financial asset is derecognized when the contractual
rights to the cash flows from
the financial asset expire
or the Group has transferred
substantially
all the risks and rewards of ownership
of the financial asset to an
external party.
Cash assets consist of cash and cash equivalents.
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
Financial liabilities are classified into the following
groups:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
On initial recognition, the Group measures a financial
liability at fair
value and, in the case of a financial
liability not measured at fair value
through profit or loss,
the transaction costs directly attributable
to the item
will be added or deducted. Financial liabilities measured at
fair value through profit
or loss are initially
recognized in the balance sheet at fair
value and transaction costs
are recognized through
profit or loss.
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
A financial liability or part of it is derecognized
only when the liability ceases to exist, i.e.
when the obligation
specified in the contract is
discharged or cancelled or expires.
Hedge accounting
The Group does not apply hedge accounting in
accordance with IFRS
9 in the financial statements.
3.6. Derivative contracts
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_12": { "value": "
1.4.
Financial assets and liabilities
The Group\u2019s
financial assets are classified in accordance with
the IFRS 9 Financial Instruments
standard as
follows:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
c)
those measured at fair value
through other comprehensive
income
The classification is based on the business model defined by
the Group and the type of contractually
accrued
cash flows of financial assets. On initial
recognition, the Group measures a financial asset
item at fair value,
and in the case of a financial asset item that is
not measured at fair value through profit
or loss, the
transaction costs directly
attributable to the item are
added or deducted. Financial assets measured at fair
value through profit or loss
are initially recognized at fair
value in the balance sheet and transaction costs
are
recognized through profit
or loss.
\u2018Financial assets measured at amortized cost\u2019 comprise
financial assets whose business model is to
hold
financial assets and collect contractual cash flows
consisting exclusively
of payments of principal and interest.
This item includes sales receivables,
loan and other receivables and cash and cash equivalents.
Assets
classified under the group are measured at amortized
cost using the effective
interest rate
method. The
carrying amount of current sales
and other receivables is deemed to be equal to their fair
value. These items
are current assets if
they are expected to be realized
within 12 months of the end of the reporting period. The
Group\u2019s
sales receivables are
mainly short-term. The group recognizes
a deduction for expected credit
losses
on financial assets measured at amortized cost.
Financial assets that are classified at
initial recognition as those measured at fair
value through profit or loss
are classified in \u2018Financial assets measured at
fair value through profit
or loss\u2019.
Evli\u2019s
fund investments are
classified as financial assets recognized at
fair value through
profit or loss. Investments
in funds are included in
the balance sheet item Shares and participations. The fair
value of liquid mutual fund investments is
determined using quoted market prices
and rates. Equity
fund investments
are generally valued in
accordance
with industry practice; the fair
value of equity and real estate
fund investments is
the most recent fund value
reported by the fund management company,
plus capital contributions and
less capital redemptions that
have
occurred between the balance sheet date and the management
company\u2019s
reporting date. The fair
value of
real estate owned
by real estate
funds is based on the fair value
determined by an external assessor.
The \u2018Financial assets measured at fair
value through other comprehensive income\u2019 category
includes the
investment made by Evli
in Alisa Bank Plc. The investment is
of a long-term nature and is not related to the
group\u2019s
operating activities.
For these reasons, the company presents
the effect on profit
or loss arising from
the measurement of the investment
as a separate item
in the statement of comprehensive
income in
accordance with IFRS
9.
A financial asset is derecognized when the contractual
rights to the cash flows from
the financial asset expire
or the Group has transferred
substantially
all the risks and rewards of ownership
of the financial asset to an
external party.
Cash assets consist of cash and cash equivalents.
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
Financial liabilities are classified into the following
groups:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
On initial recognition, the Group measures a financial
liability at fair
value and, in the case of a financial
liability not measured at fair value
through profit or loss,
the transaction costs directly attributable
to the item
will be added or deducted. Financial liabilities measured at
fair value through profit
or loss are initially
recognized in the balance sheet at fair
value and transaction costs
are recognized through
profit or loss.
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
A financial liability or part of it is derecognized
only when the liability ceases to exist, i.e.
when the obligation
specified in the contract is
discharged or cancelled or expires.
\n
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\n
3.4. Debt securities
2025
2024
Publicly quoted
0.0
0.0
Others
Bonds issued by banks
2.0
2.0
Other debt securities
0.2
1.3
Debt securities, total
2.2
3.3
Debt certificates are valued at fair
value and relate to Finnish
investments.
3.6. Derivative contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.17. Derivative contracts and other liabilities held
for trading
2025
2024
Derivative contracts
6.8
7.1
Due to short selling of
shares
-
-
Derivative contracts
and other liabilities held for
trading, total
6.8
7.1
7. Other notes
\n
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\n
7.1.
Classification of assets and liabilities
Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2025
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
152.8
-
-
-
152.8
-
-
-
Claims on the public and public sector
entities
9.9
-
-
-
9.9
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
2.2
-
-
2.2
-
0.0
2.2
Shares and participations
-
39.0
3.5
-
42.4
30.4
-
12.0
Derivative contracts
-
6.8
-
-
6.8
-
-
6.8
Shares and participations in
associates
-
-
-
22.0
22.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.1
44.1
-
-
-
Property,
plant and equipment
-
-
-
1.0
1.0
-
-
-
Other assets
-
-
-
65.5
65.5
-
-
-
Leasing assets
-
-
-
8.3
8.3
-
-
-
Accrued income and prepayments
-
-
-
6.0
6.0
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.6
3.6
-
-
-
Total
assets
162.7
48.0
3.5
152.1
366.2
30.4
0.0
21.1
Liabilities
-
Liabilities to credit institutions
and central banks
5.3
-
-
-
5.3
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
109.6
-
-
-
109.6
-
-
-
Financial liabilities at fair
value through profit
or loss
-
6.8
-
-
6.8
-
-
6.8
Other liabilities
-
-
-
50.1
50.1
-
-
-
Accrued expenses and
deferred income
-
-
-
29.5
29.5
-
-
-
Income tax liability
-
-
-
5.2
5.2
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
114.9
6.8
-
84.8
206.5
-
-
6.8
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Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2024
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
131.2
-
-
-
131.2
-
-
-
Claims on the public and public sector
entities
10.8
-
-
-
10.8
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
3.3
-
-
3.3
-
0.0
3.3
Shares and participations
-
39.5
2.6
-
42.0
30.5
-
11.6
Derivative contracts
-
7.1
-
-
7.1
-
-
7.1
Shares and participations in
associates
-
-
-
24.0
24.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.6
44.6
-
-
-
Property,
plant and equipment
-
-
-
1.1
1.1
-
-
-
Other assets
-
-
-
79.3
79.3
-
-
-
Leasing assets
-
-
-
9.6
9.6
-
-
-
Accrued income and prepayments
-
-
-
3.4
3.4
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.7
3.7
-
-
-
Total
assets
142.0
49.9
2.6
167.2
361.6
30.5
0.0
21.9
Liabilities
-
Liabilities to credit institutions
and central banks
6.0
-
-
-
6.0
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
99.4
-
-
-
99.4
-
-
-
Financial liabilities at fair
value through profit
or loss
-
7.1
-
-
7.1
-
-
7.1
Other liabilities
-
-
-
64.7
64.7
-
-
-
Accrued expenses and
deferred income
-
-
-
27.7
27.7
-
-
-
Income tax liability
-
-
-
3.0
3.0
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
105.5
7.1
-
95.5
208.1
-
-
7.1
Classification of assets and liabilities
The treatment of assets and liabilities is
explained in the accounting policies in section 1.4. When valuing
financial assets and liabilities, Evli classifies balance sheet items
into three levels depending on how the
valuation level is
determined. For Level 1 balance sheet items,
fair values are based on published price
quotations in active markets.
For Level 2, the values are
determined using valuation models with inputs other
than the quoted prices at Level 1 that are directly
or indirectly observable for
the asset or liability.
The fair
values of Level 3 items are
determined using valuation models
with inputs that are not directly observable for
the asset or liability.
Valuation level
1 includes quoted shares and participations, mutual funds, exchange
-traded derivatives,
and
debt securities quoted on active public and over-the-counter
markets.
Level 3 shares and participations are generally
instruments that are not
publicly quoted, such as equity and
real estate funds,
unquoted shares and warrants.
Level 2 derivatives are
forward contracts whose
valuation is
calculated using quoted market
parameters
such as interest
rates and exchange
rates. Derivatives
at level 3
are derivatives
whose valuations have been calculated
using commonly used derivative
pricing models such as
Black- Scholes, or,
in the case of OTC instrument,
obtained from a counterparty.
Valuation involves
parameters that are
not quoted on the market, such as volatility.
If the volatility used is the publicly available
historical volatility,
the change will not have a significant
impact on the fair values of level
3 options.
Valuations
of debt securities obtained from markets
that are not fully
active are assigned to valuation level
2.
Valuations
of debt securities at valuation level
3 are valuations of illiquid instruments
obtained directly from
the organizer
of the issue or calculated by Evli.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_13": { "value": "
The classification is based on the business model defined by
the Group and the type of contractually
accrued
cash flows of financial assets. On initial
recognition, the Group measures a financial asset
item at fair value,
and in the case of a financial asset item that is
not measured at fair value through profit
or loss, the
transaction costs directly
attributable to the item are
added or deducted. Financial assets measured at fair
value through profit or loss
are initially recognized at fair
value in the balance sheet and transaction costs
are
recognized through profit
or loss.
\u2018Financial assets measured at amortized cost\u2019 comprise
financial assets whose business model is to
hold
financial assets and collect contractual cash flows
consisting exclusively
of payments of principal and interest.
This item includes sales receivables,
loan and other receivables and cash and cash equivalents.
Assets
classified under the group are measured at amortized
cost using the effective
interest rate
method. The
carrying amount of current sales
and other receivables is deemed to be equal to their fair
value. These items
are current assets if
they are expected to be realized
within 12 months of the end of the reporting period. The
Group\u2019s
sales receivables are
mainly short-term. The group recognizes
a deduction for expected credit
losses
on financial assets measured at amortized cost.
Financial assets that are classified at
initial recognition as those measured at fair
value through profit or loss
are classified in \u2018Financial assets measured at
fair value through profit
or loss\u2019.
Evli\u2019s
fund investments are
classified as financial assets recognized at
fair value through
profit or loss. Investments
in funds are included in
the balance sheet item Shares and participations. The fair
value of liquid mutual fund investments is
determined using quoted market prices
and rates. Equity
fund investments
are generally valued in
accordance
with industry practice; the fair
value of equity and real estate
fund investments is
the most recent fund value
reported by the fund management company,
plus capital contributions and
less capital redemptions that
have
occurred between the balance sheet date and the management
company\u2019s
reporting date. The fair
value of
real estate owned
by real estate
funds is based on the fair value
determined by an external assessor.
Financial liabilities are classified into the following
groups:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
On initial recognition, the Group measures a financial
liability at fair
value and, in the case of a financial
liability not measured at fair value
through profit or loss,
the transaction costs directly attributable
to the item
will be added or deducted. Financial liabilities measured at
fair value through profit
or loss are initially
recognized in the balance sheet at fair
value and transaction costs
are recognized through
profit or loss.
3.6. Derivative contracts
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_14": { "value": "
\u2018Financial assets measured at amortized cost\u2019 comprise
financial assets whose business model is to
hold
financial assets and collect contractual cash flows
consisting exclusively
of payments of principal and interest.
This item includes sales receivables,
loan and other receivables and cash and cash equivalents.
Assets
classified under the group are measured at amortized
cost using the effective
interest rate
method. The
carrying amount of current sales
and other receivables is deemed to be equal to their fair
value. These items
are current assets if
they are expected to be realized
within 12 months of the end of the reporting period. The
Group\u2019s
sales receivables are
mainly short-term. The group recognizes
a deduction for expected credit
losses
on financial assets measured at amortized cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_15": { "value": "
A financial asset is derecognized when the contractual
rights to the cash flows from
the financial asset expire
or the Group has transferred
substantially
all the risks and rewards of ownership
of the financial asset to an
external party.
Cash assets consist of cash and cash equivalents.
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
A financial liability or part of it is derecognized
only when the liability ceases to exist, i.e.
when the obligation
specified in the contract is
discharged or cancelled or expires.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_16": { "value": "
Cash assets consist of cash and cash equivalents.
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_17": { "value": "
Repayable on demand deposits
in credit
institutions are also included in cash and cash equivalents
in the cash flow statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_18": { "value": "
Financial liabilities are classified into the following
groups:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
On initial recognition, the Group measures a financial
liability at fair
value and, in the case of a financial
liability not measured at fair value
through profit or loss,
the transaction costs directly attributable
to the item
will be added or deducted. Financial liabilities measured at
fair value through profit
or loss are initially
recognized in the balance sheet at fair
value and transaction costs
are recognized through
profit or loss.
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
A financial liability or part of it is derecognized
only when the liability ceases to exist, i.e.
when the obligation
specified in the contract is
discharged or cancelled or expires.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_19": { "value": "
Financial liabilities are classified into the following
groups:
a)
those measured at amortized cost
b)
those measured at fair value
through profit or loss
On initial recognition, the Group measures a financial
liability at fair
value and, in the case of a financial
liability not measured at fair value
through profit or loss,
the transaction costs directly attributable
to the item
will be added or deducted. Financial liabilities measured at
fair value through profit
or loss are initially
recognized in the balance sheet at fair
value and transaction costs
are recognized through
profit or loss.
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
A financial liability or part of it is derecognized
only when the liability ceases to exist, i.e.
when the obligation
specified in the contract is
discharged or cancelled or expires.
Fair value determination
The fair value of share
based incentives have been determined at grant
date and the fair
value is expensed
until vesting. The pricing
of the share based incentives granted during
the period was determined by the
following inputs and had the following
effect:
Debt certificates are valued at fair
value and relate to Finnish
investments.
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
Inter-segment pricing occurs in arm\u2019s
length transactions at fair
value. The revenue and expenses that are
deemed as directly attributable to or can
be allocated on a reasonable basis
to a particular business area are
allocated to that business
area. The revenue and expenses
that are not allocated to a particular business
area.
and the inter-business area eliminations in
the Group. are reported under Group Operations.
The distribution
of the Group\u2019s
assets and liabilities among the business areas is not monitored on a regular
basis and is
therefore not reported
in connection with the segment reporting.
Classification of assets and liabilities
The treatment of assets and liabilities is
explained in the accounting policies in section 1.4. When valuing
financial assets and liabilities, Evli classifies balance sheet items
into three levels depending on how the
valuation level is
determined. For Level 1 balance sheet items,
fair values are based on published price
quotations in active markets.
For Level 2, the values are
determined using valuation models with inputs other
than the quoted prices at Level 1 that are directly
or indirectly observable for
the asset or liability.
The fair
values of Level 3 items are
determined using valuation models
with inputs that are not directly observable for
the asset or liability.
Valuation level
1 includes quoted shares and participations, mutual funds, exchange
-traded derivatives,
and
debt securities quoted on active public and over-the-counter
markets.
Level 3 shares and participations are generally
instruments that are not
publicly quoted, such as equity and
real estate funds,
unquoted shares and warrants.
Level 2 derivatives are
forward contracts whose
valuation is
calculated using quoted market
parameters
such as interest
rates and exchange
rates. Derivatives
at level 3
are derivatives
whose valuations have been calculated
using commonly used derivative
pricing models such as
Black- Scholes, or,
in the case of OTC instrument,
obtained from a counterparty.
Valuation involves
parameters that are
not quoted on the market, such as volatility.
If the volatility used is the publicly available
historical volatility,
the change will not have a significant
impact on the fair values of level
3 options.
Valuations
of debt securities obtained from markets
that are not fully
active are assigned to valuation level
2.
Valuations
of debt securities at valuation level
3 are valuations of illiquid instruments
obtained directly from
the organizer
of the issue or calculated by Evli.
Consolidation principles
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_20": { "value": "
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_21": { "value": "
Financial liabilities recognized at amortized
cost consist
of interest-bearing loans and non-interest
-bearing
liabilities and are measured at amortized cost
using the effective interest
method. These include structured
notes issued by the company,
among others. The difference
between the amount received and the amount
repayable is recognized
in the income statement
using the effective
interest method over the
period of the
loan. Financial liabilities are classified as current unless
the group has an unconditional right to defer
settlement of the liability for
at least 12 months after the end of the reporting period.
Purchase liabilities are
classified as current liabilities if
they are due for payment within 12
months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_22": { "value": "
Hedge accounting
The Group does not apply hedge accounting in
accordance with IFRS
9 in the financial statements.
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_23": { "value": "
1.5.
Matters requiring management judgment
The drawing up of financial statements
in accordance with IFRS
standards requires
that certain accounting
assessments are made. In addition, management must
use its judgment. Judgment affects
the choice of
accounting policies and their application, the amount of assets,
liabilities, revenues and expenses to be
reported and the notes that must be presented.
The management will exercise
its judgment on the basis of
estimates and assumptions that are
based on earlier experience and the best view available
to it on the
balance sheet date especially concerning the future performance
of the investment services
market.
Estimates and decisions based on judgment are constantly
monitored and they are based on actual
performance and certain other factors
such as expected future events
that are reasonably anticipated
to
occur considering prevailing circumstances.
Actual performance may deviate
from estimates.
At Evli, the most
significant estimates concern the impairment
testing of goodwill and the measurement
principles of theoretically measured financial instruments.
Further information on them is provides
in the note
in question, under the title \u201cManagement judgment\u201d.
MANAGEMENT JUDGMENT
The commission income of asset management and mutual funds is
subject to adjustment items that can in
some circumstances include ambiguity with respect to the
date of validity and scope, among other things. This
applies to situations in which price reductions have
been agreed upon with clients by using \u201cfee
reimbursement contracts\u201d.
For this reason, the management has used its judgment and has strived
to make
the most conservative assessment
of the fee reimbursement
debt arising from these, or any contracts
of
which there is knowledge but have
not yet been entered in
the system.
The debt is recovered monthly and is
included as an item that reduces fund and asset management
fees. Consideration is
also related to the
probabilities and amounts of realization
of carry-fees.
MANAGEMENT JUDGMENT
Evli does not participate in daily
management of associated companies\u2019 business
operations and instead
focuses on influencing strategic
decisions at the board level.
At the time of preparing Evli\u2019s
consolidated
financial statements,
the income statement and balance sheet
of associated companies are not yet
known,
which is why Evli\u2019s
management must use judgment in estimating
the share of associated companies\u2019
profit
for the financial year.
The estimate is based on the most recent
known profit performance,
prior experience of
possible last minute changes, and other possible factors
that indicate changes.
MANAGEMENT JUDGMENT
Impairment testing of goodwill is
based on the estimated future recoverable
net cash flows of the cash
generating units to which goodwill
has been allocated, which is then compared to the unit\u2019s
carrying amount.
The testing requires making of assumptions
concerning variables such as the growth rate
of returns, costs
of
operations and the discount rate
at which the incoming cash flows
are converted to the current
value.
At each balance sheet date,
the management assesses whether there is
any indication that an asset may be
impaired. If any
such indication exists, the recoverable
amount of the asset is estimated.
MANAGEMENT JUDGMENT
The entry of deferred tax
assets in the balance sheet calls for judgment.
Deferred tax
assets are recognized
to
the extent that future taxable
income is likely
to be generated, against
which the confirmed losses can be
used. The impairment of deferred tax
assets may be necessary
if the future taxable income does not
correspond with the estimate. Deferred
tax assets
are assessed annually in relation to
the Group\u2019s
ability to
generate sufficient
taxable income in the future.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_24": { "value": "
1.6.
Provisions
A provision is recognized
when the Group has a legal or constructive
obligation as a result of a past
event, and
it is probable that an outflow of economic benefits
will be required to settle the obligation
,
and the Group can
reliably estimate
the amount of the obligation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_25": { "value": "
1.6.
Provisions
A provision is recognized
when the Group has a legal or constructive
obligation as a result of a past
event, and
it is probable that an outflow of economic benefits
will be required to settle the obligation
,
and the Group can
reliably estimate
the amount of the obligation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_26": { "value": "
\n
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\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
2.1.
Fee and commission income
2025
2024
Credit related fees
and commissions
0.0
0.0
Income from
payment transactions
0.1
0.0
Insurance brokerage
0.4
0.4
Advisory services
6.8
11.6
Securities brokerage
10.9
5.7
Securities issue
0.0
0.0
Mutual funds
101.7
84.4
Asset management
7.5
6.8
Custody services
0.6
0.6
Other operations
0.9
1.6
Commission income, total
128.9
111.3
Evli receives management
fee income from
Wealth Management and Investor
Clients from mutual funds and
asset management portfolios
and pays clients fee
reimbursements related
to these. Fund fees consisting
of
management fees and fee
reimbursements
are recognized on a monthly
basis and are mainly invoiced
retrospectively in one, three,
six or twelve-month periods. These fees
are typically calculated based on the
capital value or initial investment
commitment in the fund or client portfolio
and on the agreed fee
percentage over time.
Any non-recurring fees
related to the funds, such as acquisition,
subscription or
redemption fees, are
allocated to the month in which the right
to the fee arises.
With successful investment
activities, fee income may include performance
-based fees. These may
consist of
performance-based fees related
to mutual and non-UCITS funds, carry
fees received by the management
company of an equity fund, and performance-based fees
related to asset
management portfolios.
The
performance-based fees of mutual
funds are taken into
account daily in the values
of the funds and invoiced
retrospectively on a monthly basis.
The performance-based fees of non-UCITS
funds are invoiced quarterly.
The final performance-based fee
received by Evli
from non-UCITS funds is determined by the fund\u2019s
full-year
return, which may change from the
amount recognized in
a preceding quarter.
The performance-based fees
relating to asset management portfolios
are recognized as
income annually only after the final amount of the
fee can be reliably estimated.
The Evli Group annually reviews
the performance-based fees
due to the management company from
equity
funds (so-called carry fees)
and models the probabilities related to their
realization.
A performance-based fee
related to a fund agreement and
due to the management company is
only paid once the IRR (Internal Rate of
Return) defined by the hurdle rate
has been attained on a cash flow
basis. Typically,
the fee is only payable
towards the end of a fund\u2019s
life cycle. If a fund\u2019s
return does not attain the hurdle
rate, the management
company will not receive
any performance-based fee.
The company will
only consider the performance-based
fee from equity funds to the extent
that it is probable that there will
be no significant reversal
of the amount
of accrued recognized income at
a later date. Evli
brokers direct investment
instruments such as equities,
ETFs
and derivatives for
its clients. For the brokerage
services it provides, the company receives
a one-time
brokerage fee.
The brokerage
fee received is linked
to the transaction executed and
the return associated
with the brokerage
activity is recognized
on a trade date basis.
In addition to the investment instruments
mentioned above, Evli
also brokers
equity-linked notes. The fee
received on the sale of the company\u2019s
own and other operators\u2019
equity-linked notes is recognized
immediately in the income statement.
The full amount of the fee is
available for
use on the date of issue of
the bond and is used to cover services related
to the issue of the bond. The interest expense
for the note
issued by the company itself is
calculated by using the effective
interest method. These notes
are recognized
in the balance sheet at the amortized cost,
and the interest component
of the loan, which is the same as the
value of the option, is recognized
as a separate debt item in
the group \u201cDerivative
contracts and trading
liabilities\u201d.
Evli\u2019s
Advisory and Corporate Clients segment receives
monthly retainer and success
fees related
to the
Corporate Finance business.
Monthly retainer fees are
recognized as income
over time whereas recognition of
success fees, treated
as variable consideration,
is linked to the completion of projects.
Project success fee
income is recognized as income in
the period when the outcome of the project
can be estimated reliably
and
when the performance obligation has been met.
The costs incurred for a project
are expensed immediately.
In the comparison period, Advisory and Corporate Clients
segment also included the planning and
management services of remuneration and incentive
schemes. As a result of the corporate
arrangement
related to the incentive business
carried out on March 27, 2024,
these services are reported as part of the
result of the associated companies in Group functions,
similarly to other associated companies.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
MANAGEMENT JUDGMENT
The commission income of asset management and mutual funds is
subject to adjustment items that can in
some circumstances include ambiguity with respect to the
date of validity and scope, among other things. This
applies to situations in which price reductions have
been agreed upon with clients by using \u201cfee
reimbursement contracts\u201d.
For this reason, the management has used its judgment and has strived
to make
the most conservative assessment
of the fee reimbursement
debt arising from these, or any contracts
of
which there is knowledge but have
not yet been entered in
the system.
The debt is recovered monthly and is
included as an item that reduces fund and asset management
fees. Consideration is
also related to the
probabilities and amounts of realization
of carry-fees.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
2.2. Net income from securities transactions
2025
Gains and
losses on sales
Changes in
fair value
Other items
Total
Debt securities
0.0
0.0
0.0
Shares and derivative
contracts
0.0
0.0
0.0
Net income from
securities transactions, total
2.6
-0.5
0.0
2.2
Net income from
foreign exchange
operations
1.3
0.1
1.4
Net income from
securities transactions and foreign
exchange
operations, total
3.9
-0.3
0.0
3.6
2024
Debt securities
0.5
0.0
0.5
Shares and derivative
contracts
0.0
0.2
0.2
Net income from
securities transactions, total
0.5
0.2
0.0
0.7
Net income from
foreign exchange
operations
0.9
-0.4
0.5
Net income from
securities transactions and foreign
exchange
operations, total
1.4
-0.2
0.0
1.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
2.3. Income from equity investments
2025
2024
Dividends from
available-for-sales
securities
0.0
0.1
Dividends from
associated companies
0.0
0.0
Income from
equity investments,
total
0.0
0.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
2.4. Interest income
2025
2024
Debt securities
0.2
0.2
Claims on credit institutions
5.2
8.9
Claims on the public and public sector
entities
0.3
0.6
Other interest
income
0.0
0.0
Interest income,
total
5.7
9.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_27": { "value": "
\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
2.1.
Fee and commission income
2025
2024
Credit related fees
and commissions
0.0
0.0
Income from
payment transactions
0.1
0.0
Insurance brokerage
0.4
0.4
Advisory services
6.8
11.6
Securities brokerage
10.9
5.7
Securities issue
0.0
0.0
Mutual funds
101.7
84.4
Asset management
7.5
6.8
Custody services
0.6
0.6
Other operations
0.9
1.6
Commission income, total
128.9
111.3
Evli receives management
fee income from
Wealth Management and Investor
Clients from mutual funds and
asset management portfolios
and pays clients fee
reimbursements related
to these. Fund fees consisting
of
management fees and fee
reimbursements
are recognized on a monthly
basis and are mainly invoiced
retrospectively in one, three,
six or twelve-month periods. These fees
are typically calculated based on the
capital value or initial investment
commitment in the fund or client portfolio
and on the agreed fee
percentage over time.
Any non-recurring fees
related to the funds, such as acquisition,
subscription or
redemption fees, are
allocated to the month in which the right
to the fee arises.
With successful investment
activities, fee income may include performance
-based fees. These may
consist of
performance-based fees related
to mutual and non-UCITS funds, carry
fees received by the management
company of an equity fund, and performance-based fees
related to asset
management portfolios.
The
performance-based fees of mutual
funds are taken into
account daily in the values
of the funds and invoiced
retrospectively on a monthly basis.
The performance-based fees of non-UCITS
funds are invoiced quarterly.
The final performance-based fee
received by Evli
from non-UCITS funds is determined by the fund\u2019s
full-year
return, which may change from the
amount recognized in
a preceding quarter.
The performance-based fees
relating to asset management portfolios
are recognized as
income annually only after the final amount of the
fee can be reliably estimated.
The Evli Group annually reviews
the performance-based fees
due to the management company from
equity
funds (so-called carry fees)
and models the probabilities related to their
realization.
A performance-based fee
related to a fund agreement and
due to the management company is
only paid once the IRR (Internal Rate of
Return) defined by the hurdle rate
has been attained on a cash flow
basis. Typically,
the fee is only payable
towards the end of a fund\u2019s
life cycle. If a fund\u2019s
return does not attain the hurdle
rate, the management
company will not receive
any performance-based fee.
The company will
only consider the performance-based
fee from equity funds to the extent
that it is probable that there will
be no significant reversal
of the amount
of accrued recognized income at
a later date. Evli
brokers direct investment
instruments such as equities,
ETFs
and derivatives for
its clients. For the brokerage
services it provides, the company receives
a one-time
brokerage fee.
The brokerage
fee received is linked
to the transaction executed and
the return associated
with the brokerage
activity is recognized
on a trade date basis.
In addition to the investment instruments
mentioned above, Evli
also brokers
equity-linked notes. The fee
received on the sale of the company\u2019s
own and other operators\u2019
equity-linked notes is recognized
immediately in the income statement.
The full amount of the fee is
available for
use on the date of issue of
the bond and is used to cover services related
to the issue of the bond. The interest expense
for the note
issued by the company itself is
calculated by using the effective
interest method. These notes
are recognized
in the balance sheet at the amortized cost,
and the interest component
of the loan, which is the same as the
value of the option, is recognized
as a separate debt item in
the group \u201cDerivative
contracts and trading
liabilities\u201d.
Evli\u2019s
Advisory and Corporate Clients segment receives
monthly retainer and success
fees related
to the
Corporate Finance business.
Monthly retainer fees are
recognized as income
over time whereas recognition of
success fees, treated
as variable consideration,
is linked to the completion of projects.
Project success fee
income is recognized as income in
the period when the outcome of the project
can be estimated reliably
and
when the performance obligation has been met.
The costs incurred for a project
are expensed immediately.
In the comparison period, Advisory and Corporate Clients
segment also included the planning and
management services of remuneration and incentive
schemes. As a result of the corporate
arrangement
related to the incentive business
carried out on March 27, 2024,
these services are reported as part of the
result of the associated companies in Group functions,
similarly to other associated companies.
The commission income of asset management and mutual funds is
subject to adjustment items that can in
some circumstances include ambiguity with respect to the
date of validity and scope, among other things. This
applies to situations in which price reductions have
been agreed upon with clients by using \u201cfee
reimbursement contracts\u201d.
For this reason, the management has used its judgment and has strived
to make
the most conservative assessment
of the fee reimbursement
debt arising from these, or any contracts
of
which there is knowledge but have
not yet been entered in
the system.
The debt is recovered monthly and is
included as an item that reduces fund and asset management
fees. Consideration is
also related to the
probabilities and amounts of realization
of carry-fees.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_28": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
2.1.
Fee and commission income
2025
2024
Credit related fees
and commissions
0.0
0.0
Income from
payment transactions
0.1
0.0
Insurance brokerage
0.4
0.4
Advisory services
6.8
11.6
Securities brokerage
10.9
5.7
Securities issue
0.0
0.0
Mutual funds
101.7
84.4
Asset management
7.5
6.8
Custody services
0.6
0.6
Other operations
0.9
1.6
Commission income, total
128.9
111.3
Evli receives management
fee income from
Wealth Management and Investor
Clients from mutual funds and
asset management portfolios
and pays clients fee
reimbursements related
to these. Fund fees consisting
of
management fees and fee
reimbursements
are recognized on a monthly
basis and are mainly invoiced
retrospectively in one, three,
six or twelve-month periods. These fees
are typically calculated based on the
capital value or initial investment
commitment in the fund or client portfolio
and on the agreed fee
percentage over time.
Any non-recurring fees
related to the funds, such as acquisition,
subscription or
redemption fees, are
allocated to the month in which the right
to the fee arises.
With successful investment
activities, fee income may include performance
-based fees. These may
consist of
performance-based fees related
to mutual and non-UCITS funds, carry
fees received by the management
company of an equity fund, and performance-based fees
related to asset
management portfolios.
The
performance-based fees of mutual
funds are taken into
account daily in the values
of the funds and invoiced
retrospectively on a monthly basis.
The performance-based fees of non-UCITS
funds are invoiced quarterly.
The final performance-based fee
received by Evli
from non-UCITS funds is determined by the fund\u2019s
full-year
return, which may change from the
amount recognized in
a preceding quarter.
The performance-based fees
relating to asset management portfolios
are recognized as
income annually only after the final amount of the
fee can be reliably estimated.
The Evli Group annually reviews
the performance-based fees
due to the management company from
equity
funds (so-called carry fees)
and models the probabilities related to their
realization.
A performance-based fee
related to a fund agreement and
due to the management company is
only paid once the IRR (Internal Rate of
Return) defined by the hurdle rate
has been attained on a cash flow
basis. Typically,
the fee is only payable
towards the end of a fund\u2019s
life cycle. If a fund\u2019s
return does not attain the hurdle
rate, the management
company will not receive
any performance-based fee.
The company will
only consider the performance-based
fee from equity funds to the extent
that it is probable that there will
be no significant reversal
of the amount
of accrued recognized income at
a later date. Evli
brokers direct investment
instruments such as equities,
ETFs
and derivatives for
its clients. For the brokerage
services it provides, the company receives
a one-time
brokerage fee.
The brokerage
fee received is linked
to the transaction executed and
the return associated
with the brokerage
activity is recognized
on a trade date basis.
In addition to the investment instruments
mentioned above, Evli
also brokers
equity-linked notes. The fee
received on the sale of the company\u2019s
own and other operators\u2019
equity-linked notes is recognized
immediately in the income statement.
The full amount of the fee is
available for
use on the date of issue of
the bond and is used to cover services related
to the issue of the bond. The interest expense
for the note
issued by the company itself is
calculated by using the effective
interest method. These notes
are recognized
in the balance sheet at the amortized cost,
and the interest component
of the loan, which is the same as the
value of the option, is recognized
as a separate debt item in
the group \u201cDerivative
contracts and trading
liabilities\u201d.
Evli\u2019s
Advisory and Corporate Clients segment receives
monthly retainer and success
fees related
to the
Corporate Finance business.
Monthly retainer fees are
recognized as income
over time whereas recognition of
success fees, treated
as variable consideration,
is linked to the completion of projects.
Project success fee
income is recognized as income in
the period when the outcome of the project
can be estimated reliably
and
when the performance obligation has been met.
The costs incurred for a project
are expensed immediately.
In the comparison period, Advisory and Corporate Clients
segment also included the planning and
management services of remuneration and incentive
schemes. As a result of the corporate
arrangement
related to the incentive business
carried out on March 27, 2024,
these services are reported as part of the
result of the associated companies in Group functions,
similarly to other associated companies.
MANAGEMENT JUDGMENT
The commission income of asset management and mutual funds is
subject to adjustment items that can in
some circumstances include ambiguity with respect to the
date of validity and scope, among other things. This
applies to situations in which price reductions have
been agreed upon with clients by using \u201cfee
reimbursement contracts\u201d.
For this reason, the management has used its judgment and has strived
to make
the most conservative assessment
of the fee reimbursement
debt arising from these, or any contracts
of
which there is knowledge but have
not yet been entered in
the system.
The debt is recovered monthly and is
included as an item that reduces fund and asset management
fees. Consideration is
also related to the
probabilities and amounts of realization
of carry-fees.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
2.6. Fee and commission expenses
2025
2024
Trading
fees paid to
stock exchanges
-0.0
-0.1
Other commission expenses
-7.0
-4.8
Commission expenses,
total
-7.0
-5.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_29": { "value": "
2.1.
Fee and commission income
Evli receives management
fee income from
Wealth Management and Investor
Clients from mutual funds and
asset management portfolios
and pays clients fee
reimbursements related
to these. Fund fees consisting
of
management fees and fee
reimbursements
are recognized on a monthly
basis and are mainly invoiced
retrospectively in one, three,
six or twelve-month periods. These fees
are typically calculated based on the
capital value or initial investment
commitment in the fund or client portfolio
and on the agreed fee
percentage over time.
Any non-recurring fees
related to the funds, such as acquisition,
subscription or
redemption fees, are
allocated to the month in which the right
to the fee arises.
With successful investment
activities, fee income may include performance
-based fees. These may
consist of
performance-based fees related
to mutual and non-UCITS funds, carry
fees received by the management
company of an equity fund, and performance-based fees
related to asset
management portfolios.
The
performance-based fees of mutual
funds are taken into
account daily in the values
of the funds and invoiced
retrospectively on a monthly basis.
The performance-based fees of non-UCITS
funds are invoiced quarterly.
The final performance-based fee
received by Evli
from non-UCITS funds is determined by the fund\u2019s
full-year
return, which may change from the
amount recognized in
a preceding quarter.
The performance-based fees
relating to asset management portfolios
are recognized as
income annually only after the final amount of the
fee can be reliably estimated.
The Evli Group annually reviews
the performance-based fees
due to the management company from
equity
funds (so-called carry fees)
and models the probabilities related to their
realization.
A performance-based fee
related to a fund agreement and
due to the management company is
only paid once the IRR (Internal Rate of
Return) defined by the hurdle rate
has been attained on a cash flow
basis. Typically,
the fee is only payable
towards the end of a fund\u2019s
life cycle. If a fund\u2019s
return does not attain the hurdle
rate, the management
company will not receive
any performance-based fee.
The company will
only consider the performance-based
fee from equity funds to the extent
that it is probable that there will
be no significant reversal
of the amount
of accrued recognized income at
a later date. Evli
brokers direct investment
instruments such as equities,
ETFs
and derivatives for
its clients. For the brokerage
services it provides, the company receives
a one-time
brokerage fee.
The brokerage
fee received is linked
to the transaction executed and
the return associated
with the brokerage
activity is recognized
on a trade date basis.
In addition to the investment instruments
mentioned above, Evli
also brokers
equity-linked notes. The fee
received on the sale of the company\u2019s
own and other operators\u2019
equity-linked notes is recognized
immediately in the income statement.
The full amount of the fee is
available for
use on the date of issue of
the bond and is used to cover services related
to the issue of the bond. The interest expense
for the note
issued by the company itself is
calculated by using the effective
interest method. These notes
are recognized
in the balance sheet at the amortized cost,
and the interest component
of the loan, which is the same as the
value of the option, is recognized
as a separate debt item in
the group \u201cDerivative
contracts and trading
liabilities\u201d.
Evli\u2019s
Advisory and Corporate Clients segment receives
monthly retainer and success
fees related
to the
Corporate Finance business.
Monthly retainer fees are
recognized as income
over time whereas recognition of
success fees, treated
as variable consideration,
is linked to the completion of projects.
Project success fee
income is recognized as income in
the period when the outcome of the project
can be estimated reliably
and
when the performance obligation has been met.
The costs incurred for a project
are expensed immediately.
In the comparison period, Advisory and Corporate Clients
segment also included the planning and
management services of remuneration and incentive
schemes. As a result of the corporate
arrangement
related to the incentive business
carried out on March 27, 2024,
these services are reported as part of the
result of the associated companies in Group functions,
similarly to other associated companies.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_30": { "value": "
Evli receives management
fee income from
Wealth Management and Investor
Clients from mutual funds and
asset management portfolios
and pays clients fee
reimbursements related
to these. Fund fees consisting
of
management fees and fee
reimbursements
are recognized on a monthly
basis and are mainly invoiced
retrospectively in one, three,
six or twelve-month periods. These fees
are typically calculated based on the
capital value or initial investment
commitment in the fund or client portfolio
and on the agreed fee
percentage over time.
Any non-recurring fees
related to the funds, such as acquisition,
subscription or
redemption fees, are
allocated to the month in which the right
to the fee arises.
With successful investment
activities, fee income may include performance
-based fees. These may
consist of
performance-based fees related
to mutual and non-UCITS funds, carry
fees received by the management
company of an equity fund, and performance-based fees
related to asset
management portfolios.
The
performance-based fees of mutual
funds are taken into
account daily in the values
of the funds and invoiced
retrospectively on a monthly basis.
The performance-based fees of non-UCITS
funds are invoiced quarterly.
The final performance-based fee
received by Evli
from non-UCITS funds is determined by the fund\u2019s
full-year
return, which may change from the
amount recognized in
a preceding quarter.
The performance-based fees
relating to asset management portfolios
are recognized as
income annually only after the final amount of the
fee can be reliably estimated.
The Evli Group annually reviews
the performance-based fees
due to the management company from
equity
funds (so-called carry fees)
and models the probabilities related to their
realization.
A performance-based fee
related to a fund agreement and
due to the management company is
only paid once the IRR (Internal Rate of
Return) defined by the hurdle rate
has been attained on a cash flow
basis. Typically,
the fee is only payable
towards the end of a fund\u2019s
life cycle. If a fund\u2019s
return does not attain the hurdle
rate, the management
company will not receive
any performance-based fee.
The company will
only consider the performance-based
fee from equity funds to the extent
that it is probable that there will
be no significant reversal
of the amount
of accrued recognized income at
a later date. Evli
brokers direct investment
instruments such as equities,
ETFs
and derivatives for
its clients. For the brokerage
services it provides, the company receives
a one-time
brokerage fee.
The brokerage
fee received is linked
to the transaction executed and
the return associated
with the brokerage
activity is recognized
on a trade date basis.
In addition to the investment instruments
mentioned above, Evli
also brokers
equity-linked notes. The fee
received on the sale of the company\u2019s
own and other operators\u2019
equity-linked notes is recognized
immediately in the income statement.
The full amount of the fee is
available for
use on the date of issue of
the bond and is used to cover services related
to the issue of the bond. The interest expense
for the note
issued by the company itself is
calculated by using the effective
interest method. These notes
are recognized
in the balance sheet at the amortized cost,
and the interest component
of the loan, which is the same as the
value of the option, is recognized
as a separate debt item in
the group \u201cDerivative
contracts and trading
liabilities\u201d.
Evli\u2019s
Advisory and Corporate Clients segment receives
monthly retainer and success
fees related
to the
Corporate Finance business.
Monthly retainer fees are
recognized as income
over time whereas recognition of
success fees, treated
as variable consideration,
is linked to the completion of projects.
Project success fee
income is recognized as income in
the period when the outcome of the project
can be estimated reliably
and
when the performance obligation has been met.
The costs incurred for a project
are expensed immediately.
In the comparison period, Advisory and Corporate Clients
segment also included the planning and
management services of remuneration and incentive
schemes. As a result of the corporate
arrangement
related to the incentive business
carried out on March 27, 2024,
these services are reported as part of the
result of the associated companies in Group functions,
similarly to other associated companies.
MANAGEMENT JUDGMENT
The commission income of asset management and mutual funds is
subject to adjustment items that can in
some circumstances include ambiguity with respect to the
date of validity and scope, among other things. This
applies to situations in which price reductions have
been agreed upon with clients by using \u201cfee
reimbursement contracts\u201d.
For this reason, the management has used its judgment and has strived
to make
the most conservative assessment
of the fee reimbursement
debt arising from these, or any contracts
of
which there is knowledge but have
not yet been entered in
the system.
The debt is recovered monthly and is
included as an item that reduces fund and asset management
fees. Consideration is
also related to the
probabilities and amounts of realization
of carry-fees.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_31": { "value": "
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2.2. Net income from securities transactions
2025
Gains and
losses on sales
Changes in
fair value
Other items
Total
Debt securities
0.0
0.0
0.0
Shares and derivative
contracts
0.0
0.0
0.0
Net income from
securities transactions, total
2.6
-0.5
0.0
2.2
Net income from
foreign exchange
operations
1.3
0.1
1.4
Net income from
securities transactions and foreign
exchange
operations, total
3.9
-0.3
0.0
3.6
2024
Debt securities
0.5
0.0
0.5
Shares and derivative
contracts
0.0
0.2
0.2
Net income from
securities transactions, total
0.5
0.2
0.0
0.7
Net income from
foreign exchange
operations
0.9
-0.4
0.5
Net income from
securities transactions and foreign
exchange
operations, total
1.4
-0.2
0.0
1.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_32": { "value": "
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\n
2.2. Net income from securities transactions
2025
Gains and
losses on sales
Changes in
fair value
Other items
Total
Debt securities
0.0
0.0
0.0
Shares and derivative
contracts
0.0
0.0
0.0
Net income from
securities transactions, total
2.6
-0.5
0.0
2.2
Net income from
foreign exchange
operations
1.3
0.1
1.4
Net income from
securities transactions and foreign
exchange
operations, total
3.9
-0.3
0.0
3.6
2024
Debt securities
0.5
0.0
0.5
Shares and derivative
contracts
0.0
0.2
0.2
Net income from
securities transactions, total
0.5
0.2
0.0
0.7
Net income from
foreign exchange
operations
0.9
-0.4
0.5
Net income from
securities transactions and foreign
exchange
operations, total
1.4
-0.2
0.0
1.2
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\n
\n
\n
\n
\n
\n
2.3. Income from equity investments
2025
2024
Dividends from
available-for-sales
securities
0.0
0.1
Dividends from
associated companies
0.0
0.0
Income from
equity investments,
total
0.0
0.1
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\n
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\n
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2.12. Expected credit losses on loans
and other receivables
2025
2024
Claims on the public and public sector
entities
Expected credit losses
on group level
0.0
0.0
Expected credit losses
individual
0.0
0.0
Guarantees
and other off-balance sheet commitments
0.0
0.0
Sales receivables
0.0
0.0
Realised loan losses
0.0
0.1
Impairment losses on other financial
assets
-0.2
-0.6
Impairment losses, total
-0.2
-0.5
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.1.
Cash and equivalents
2025
2024
Petty Cash
-
0.0
Other
-
0.0
Cash and cash equivalents
total
-
0.0
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3.2. Claims on credit institutions
2025
2024
Repayable
on demand
Domestic credit institutions
148.1
123.7
Foreign credit institutions
3.9
5.2
Repayable
on demand, total
152.0
128.9
Other than repayable
on demand
Domestic credit institutions
0.1
0.3
Foreign credit institutions
0.7
2.1
Other than repayable
on demand, total
0.8
2.3
Claims on credit institutions,
total
152.8
131.2
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\n
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\n
3.3. Claims on the public and
public sector entities
2025
2024
Enterprises and housing associations
3.8
4.4
Financial and insurance
corporations
0.3
0.3
Households
4.8
5.0
Foreign countries
1.0
1.0
Claims on the public and
public sector entities by
sector,
total
9.9
10.8
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3.4. Debt securities
2025
2024
Publicly quoted
0.0
0.0
Others
Bonds issued by banks
2.0
2.0
Other debt securities
0.2
1.3
Debt securities, total
2.2
3.3
Debt certificates are valued at fair
value and relate to Finnish
investments.
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3.5. Shares and participations
2025
2024
Publicly quoted
Other
30.4
30.5
Shares and participations,
total
30.4
30.5
Others
Other
12.0
11.6
Others, total
12.0
11.6
Shares and participations,
total
42.4
42.0
Net risk position is described in section Market Risk,
Notes on Risk Position.3.6. Derivative
contracts.
3.6. Derivative contracts
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
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3.7. Shares and participations in associates
and joint ventures
2025
2024
At the beginning
of the period
24.0
5.2
Share of profit/loss
-1.6
-0.5
Additions
0.1
20.3
Disposals
-0.5
-1.0
At the end of the
period
22.0
24.0
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3.11. Other assets
2025
2024
Securities sale receivables
0.7
0.5
Commission receivables
27.1
30.8
Securities broking receivables
37.6
47.9
Other receivables
0.0
0.0
Other assets total
65.4
79.3
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3.15. Liabilities to credit institutions,
central banks and public
2025
2024
Credit institutions
Other than repayable
on demand, credit institutions
5.3
6.0
Other than repayable
on demand, public
-
-
Liabilities to credit
institutions and public, total
5.3
6.0
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3.16. Debt securities issued to
the public
2025
2024
Certificate of deposits
-
-
Bonds
109.6
99.4
Debt securities issued to
the public, total
109.6
99.4
3.16.1. Changes in bonds issued
to the public
2025
2024
Issues
43.4
39.0
Repurchases
32.6
32.5
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3.17. Derivative contracts and other liabilities held
for trading
2025
2024
Derivative contracts
6.8
7.1
Due to short selling of
shares
-
-
Derivative contracts
and other liabilities held for
trading, total
6.8
7.1
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3.18. Other liabilities
2025
2024
Securities broking liabilities
35.5
48.1
Securities purchase liabilities
1.2
1.2
Finance lease payables
0.0
0.0
right-of-use liability
8.3
9.6
Income tax payable
0.1
0.1
Personnel related
0.9
0.8
Other short-term
liabilities
3.9
4.7
Prepayments
of cash customers
0.0
0.0
VAT
payable
0.2
0.3
Other liabilities, total
50.1
64.7
Other short term liabilities
include brokerage
related short term
liabilities.
Right-of-use-liabilities
2025
2024
Rental liabilities
up to one year
2.7
2.4
Rental liabilities
over one year and less
than 5 years
5.6
7.1
Rental liabilities
over 5 years
0.0
0.0
Leasing liabilities not later than
one year
0.0
0.0
Leasing liabilities over year
not later than five
year
0.0
0.0
Financial risks
Financial risk is a risk caused by the operating environment
of the company and any market
changes therein.
Financial risks include market risk
that contains equity,
currency and interest rate
risk and liquidity and credit
risk.
6.1.
Market risks
Market risk refers
to the possibility of loss due to fluctuations in market
prices (price risk).
The market risk
affecting Evli
can be either direct or indirect. Direct
market risk refers
to the company\u2019s
sensitivity to market changes
through its own financial assets and liabilities. In
addition to direct market risks,
Evli is indirectly
exposed to market changes,
for example when a general
market downturn reduces
the
amount of assets under management for clients
and thus the management fees linked
to them. In addition, a
sharp fall in prices tends to drive
investors
to redeem their investments,
which decreases the amount of
assets under management. In addition, advisory services tend to be less in
demand in times of market stress
.
Market risks
can be divided into equity,
interest rate
and currency risks.
Equity risks mean the sensitivity of the
company\u2019s
profitability and market
value in the balance sheet to the changes in the general
price level of the
stock market.
The company\u2019s
direct equity risks consist
of Corporate Finance operations,
temporary position
of the brokerage
business and strategic
investments. The majority
of the company\u2019s
strategic investments
are
private equity funds in which the company
has acted as either a product developer and/or
distributor.
In
addition, the company has made investments
in liquid investment funds it manages and in
individual smaller
companies. Since 2.4.2022, Evli
has also an investment in Alisa
Bank Plc which fair value changes are
recognized directly
in equity.
In principle, all investments are
valued using market quotes.
When a public
market price is
not available, the investment
portfolio and the assets of the trading book are valuated
using
theoretical valuation methods.
Instruments measured by theoretical
means were recognized
entirely through
profit or loss during the financial year,
because the maturity periods of theoretically measured agreements
are short, and the accounting parameters
used are primarily based on information from
the markets. At
the
end of the fiscal year 2025, a
10 percent change in Evli\u2019s
investment portfolio
would have corresponded to
a
EUR 4.2 million change in equity.
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Currency risk refers
to the uncertainty of cash flow and earnings caused by changes
in exchange rates.
Evli\u2019s
operative actions are mainly
denominated in euros. The Group has some cash
flow and assets in other
currencies than Euro, but this is
minor and does not expose the Group to significant
currency risk. Evli
does
not specifically monitor changes in exchange
rates with regard
to investment operations
but considers them
to be part of the change in the fair value of the investment.
The Group\u2019s
most significant currency position
was in Swedish
crowns, which the Group had at the end of the review
period for EUR 7.9 million. This
was
mainly related to Evli\u2019s
operations in Sweden. A 10 percent
change in the exchange rate
would have an effect
of EUR 0.8
million on the Group\u2019s
equity.
In solvency calculation, the Group\u2019s
market risk is measured by the positions
related to the trading book. In
accordance with minimum capital adequacy calculation,
the necessary amount of own funds is set aside
to
cover market risk.
The minimum capital requirement is
calculated for the position risk of the trading
book and
for the currency risk
of the operations as a whole. The Group\u2019s
investments classified
under the trading book
amounted to EUR 0.0 million at December 31,
2025. The minimum capital requirements for
market risk
were
accordingly EUR 0.0
million at December 31, 2025.
6.1.1. Minimum capital requirement from market risk
Original exposure
Risk-weighted
value
exposure value
Trading
book
Equity instruments
0.0
0.0
Total
0.0
0.0
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6.1.2. Assets and liabilities
in domestic and foreign currencies
Domestic
Foreign
2025
currency
currency
Total
Assets
Financial assets at amortized
cost
Cash and cash equivalents
-
-
-
Claims on credit institutions
141.6
11.3
152.8
Claims on the public and public sector
entities
9.5
0.4
9.9
Financial assets at fair
value through
profit or loss
Debt securities
2.2
-
2.2
Shares and participations
38.8
3.7
42.4
Derivative contracts
6.8
-
6.8
Other asset items
140.0
12.0
152.0
Total
338.9
27.3
366.2
Liabilities
Financial liabilities at amortized
cost
Liabilities to credit institutions
5.3
-
5.3
Liabilities to the public and public
sector entities
-
-
-
Debt securities issued to
the public
109.6
-
109.6
Financial liabilities at fair
value through profit
or loss
6.8
-
6.8
Other liabilities items
76.1
8.7
84.8
Total
197.8
8.7
206.5
6.2. Liquidity risk
Liquidity risk is the risk that Evli\u2019s
available cash and cash equivalents are
not sufficient to cover
the needs of
the business and thus jeopardizing continuity.
In terms of liquidity risk, the Group has a conservative
risk appetite. The Group\u2019s
liquidity is constantly
monitored, and it is maintained
by keeping a significant
part of the company\u2019s assets
either in bank deposits
available on demand or invested
in liquid low-risk
assets that can be quickly converted into
cash. In addition to
investments, the company\u2019s
assets are tied up in loans it has granted, against
which the company has sought
to raise longer-term financing by issuing
structured bonds. The financing from the bonds is
not fully available,
because part of the funds is committed to collateral
that Evli
places with various market counterparties
in
situations where the hedge on structured products
is loss-making. Funds are also used in settlement
due to
settlement issues and the provision of collateral
.
The Investment Firms
Regulation requires investment
services firms to hold liquid assets of at least
one third
of the capital requirement for
fixed overheads calculated
in accordance with the Regulation.
The capital
requirement calculated on
the basis of Evli\u2019s
fixed overheads is EUR 17.0
million and the liquidity requirement
calculated on this basis is EUR
5.7
million. Evli Group\u2019s
liquid assets amounted to EUR 152.8
million on
December 31, 2025.
The following table illustrates
the contractual maturity analysis
of financial liabilities.
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6.2.1 Maturities of assets and
liabilities
2025
2024
Maturity:less
Maturity:
Maturity:
Maturity:
Maturity:less
Maturity:
Maturity:
Maturity:
Total
than 3 months
3-12 months
1-5 years
over 5 years
Total
than 3 months
3-12 months
1-5 years
over 5 years
Assets
Financial assets measured at
amortized cost
-
-
-
-
-
-
-
-
-
-
Cash and cash equivalents
-
-
-
-
-
-
-
-
-
-
Receivables from
credit institutions
152.8
152.8
-
-
-
131.2
131.2
-
-
-
Receivables from
the public and public sector entities
9.9
3.8
1.0
4.9
0.3
10.7
1.9
3.0
5.9
-
Financial assets measured at
fair value through
profit or loss
Debt securities
2.2
-
-
2.2
-
3.3
-
-
3.3
-
Shares and holdings
42.4
30.4
-
-
12.0
42.0
29.7
-
-
12.4
Derivative contracts
6.8
0.6
1.2
4.9
-
7.1
1.4
0.0
6.2
-0.4
Accrued interest
0.2
0.0
0.2
-
-
0.4
0.1
0.4
-
-
Other assets
152.0
152.0
-
-
-
93.4
93.4
-
-
-
Liabilities
Financial liabilities measured
at amortized cost
Liabilities to credit institutions
5.3
5.3
-
-
-
6.0
6.0
-
-
-
Debt securities issued to
the public
109.6
2.4
-
96.0
11.3
99.6
15.8
0.5
73.6
9.7
Financial liabilities measured
at fair value through
profit or loss
6.8
0.6
1.2
4.9
-
7.1
1.4
0.0
6.2
-0.4
Accrued interest,
liabilities
-
-
-
-
-
-
-
-
-
-
Other liabilities
76.5
76.5
-
-
-
95.5
95.5
-
-
-
Off-balance
sheet commitments
3.9
0.4
-
-
3.5
3.2
0.4
0.0
0.1
2.7
Right-of-use liabilities
8.3
0.7
2.0
5.6
0.0
9.6
0.6
1.8
7.1
0.0
6.3. Credit risks
Credit risk is the risk of loss in the event that a
customer or a counterparty of an Evli
Group company fails
to
meet its obligations under a credit relationship
and any collateral
provided is insufficient
to cover the
receivable. Credit risk
also includes country and settlement risks.
Country risk is the credit risk associated with
foreign claims allocated by country.
Settlement risk is the risk of loss of the receivable
being settled,
associated with the settlement process.
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6.3.1. Collaterals set and received
2025
2024
Fair value of
Fair value of
of which usable
Fair value of
Fair value of
of which usable
encumbered assets
unencumbered assets
as collateral
encumbered assets
unencumbered assets
as collateral
Assets
Liquid assets and Central
Bank deposits
-
-
-
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
Claims on credit institutions
0.7
152.1
152.1
2.3
128.9
128.9
Claims on the public and public sector
entities
-
9.9
-
-
10.8
-
Debt securities
-
2.2
2.2
-
3.3
3.3
Shares and participations
-
64.5
42.4
-
66.0
42.0
Other assets
-
137.6
-
-
152.6
-
Total
0.7
366.2
196.7
2.3
361.6
174.2
6.4. Expected credit losses
Evli calculates
the Expected Credit Loss (ECL) for
financial assets measured at amortized cost for
each
reporting date. The expected credit
loss is a probability-weighted estimate
of the credit risks
that will
materialize.
The credit risks of financial assets
are under constant scrutiny at
the company.
The company monitors various
factors, both quantitative
and qualitative,
which are estimated to be significant in evaluating
credit risk.
Estimates of future economic trends
are also taken into
account.
Credit risk is assessed through a three-phase model,
where the credit loss for
Phase 1 exposures is estimated
for the following 12
months. If the credit risk of a receivable has grown substantially
after a loan is granted,
the receivable\u2019s
risk level is raised to Phase 2, in
which case the expected credit loss
is estimated for the entire
exercise period.
In a situation where one or more factors
negatively affecting
the solvency of the counterparty
has occurred, the credit is raised
to Phase 3. A loan is recognized as non-performing
when more than 90 days
have passed without the borrower paying
interest or making repayment
or if it is estimated
that the borrower
is unlikely to perform
on its future payment obligations.
If based on all available information
it is estimated that the
credit risk has decreased substantially
after the
loan\u2019s
risk level has been raised to phase 2, and the risk
is at the same level as at the time of granting the loan,
the loan\u2019s
risk level can be returned to phase 1.
The amount of expected credit losses
(ECL) is calculated using the formula:
ECL = exposure x probability
of default (%) x total loss
when realization of collateral
is included.
The parameters are
generally measured on the Group levels,
and financial assets are classified into Groups of
assets with similar risks and collateral.
The probability of default of counterparties
is primarily measured with
statistical
data on the problem receivables in
the credit stock on the national level.
For sales receivables,
a
simplified procedure is used. The Group has no
assets in the \u2018measured at fair
value through comprehensive
income\u2019 class and the debt securities are not valued at amortized
cost. For credits
that have been transferred
to Phase 2, unique calculation parameters
are always
defined at the time of transfer.
The table to the right shows the distribution
of loans granted and the number of non-performing
credits.
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6.4.1 distribution of loans
2025
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
4.8
0.3
0.0
0.0
Corporations Finland
5.1
1.8
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
9.9
1.0
0.0
0.0
2024
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
5.1
0.8
0.0
0.0
Corporations Finland
5.7
1.2
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
10.8
1.0
0.0
0.1
The table below shows the balance sheet items
broken down
into the phases 1-3:
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6.4.2. IFRS 9, expected credit losses in stages
Opening balance 1.1.,
2025
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
152.8
152.8
-
-
-
-
Claims on the public
9.9
9.9
0.0
-
0.0
0.0
Corporates
5.1
5.1
-
-
0.0
0.0
Claims on the public, households
4.8
4.8
0.0
-
0.0
0.0
Other
-
-
-
-
-
-
Accounts receivable
2.2
2.2
0.0
-
-
-
Unused credit facilities
0.4
0.3
-
-
-
-
Total
165.3
165.3
0.0
-
0.0
0.0
Opening balance 1.1.,
2024
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
131.2
131.2
-
-
-
-
Claims on the public
10.8
10.8
0.0
-
0.0
0.0
Corporates
5.4
5.4
-
-
0.0
0.0
Claims on the public, households
5.4
5.4
0.0
-
0.0
-
Other
-
-
-
-
-
-
Accounts receivable
5.6
5.5
0.1
-
0.0
0.0
Unused credit facilities
0.5
0.5
-
-
0.0
0.0
Total
148.2
148.1
0.1
-
0.0
0.1
From January 1 to December 31, 2025,
there was no transfer
from Phase 1 to Phase 2 or transfers
from Phase 2 to Phase 3. Evli
has no loan payments overdue by 90 days.
The expected credit losses are
recognized in the profit
and loss account.
7. Other notes
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7.1.
Classification of assets and liabilities
Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2025
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
152.8
-
-
-
152.8
-
-
-
Claims on the public and public sector
entities
9.9
-
-
-
9.9
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
2.2
-
-
2.2
-
0.0
2.2
Shares and participations
-
39.0
3.5
-
42.4
30.4
-
12.0
Derivative contracts
-
6.8
-
-
6.8
-
-
6.8
Shares and participations in
associates
-
-
-
22.0
22.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.1
44.1
-
-
-
Property,
plant and equipment
-
-
-
1.0
1.0
-
-
-
Other assets
-
-
-
65.5
65.5
-
-
-
Leasing assets
-
-
-
8.3
8.3
-
-
-
Accrued income and prepayments
-
-
-
6.0
6.0
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.6
3.6
-
-
-
Total
assets
162.7
48.0
3.5
152.1
366.2
30.4
0.0
21.1
Liabilities
-
Liabilities to credit institutions
and central banks
5.3
-
-
-
5.3
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
109.6
-
-
-
109.6
-
-
-
Financial liabilities at fair
value through profit
or loss
-
6.8
-
-
6.8
-
-
6.8
Other liabilities
-
-
-
50.1
50.1
-
-
-
Accrued expenses and
deferred income
-
-
-
29.5
29.5
-
-
-
Income tax liability
-
-
-
5.2
5.2
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
114.9
6.8
-
84.8
206.5
-
-
6.8
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Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2024
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
131.2
-
-
-
131.2
-
-
-
Claims on the public and public sector
entities
10.8
-
-
-
10.8
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
3.3
-
-
3.3
-
0.0
3.3
Shares and participations
-
39.5
2.6
-
42.0
30.5
-
11.6
Derivative contracts
-
7.1
-
-
7.1
-
-
7.1
Shares and participations in
associates
-
-
-
24.0
24.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.6
44.6
-
-
-
Property,
plant and equipment
-
-
-
1.1
1.1
-
-
-
Other assets
-
-
-
79.3
79.3
-
-
-
Leasing assets
-
-
-
9.6
9.6
-
-
-
Accrued income and prepayments
-
-
-
3.4
3.4
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.7
3.7
-
-
-
Total
assets
142.0
49.9
2.6
167.2
361.6
30.5
0.0
21.9
Liabilities
-
Liabilities to credit institutions
and central banks
6.0
-
-
-
6.0
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
99.4
-
-
-
99.4
-
-
-
Financial liabilities at fair
value through profit
or loss
-
7.1
-
-
7.1
-
-
7.1
Other liabilities
-
-
-
64.7
64.7
-
-
-
Accrued expenses and
deferred income
-
-
-
27.7
27.7
-
-
-
Income tax liability
-
-
-
3.0
3.0
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
105.5
7.1
-
95.5
208.1
-
-
7.1
Classification of assets and liabilities
The treatment of assets and liabilities is
explained in the accounting policies in section 1.4. When valuing
financial assets and liabilities, Evli classifies balance sheet items
into three levels depending on how the
valuation level is
determined. For Level 1 balance sheet items,
fair values are based on published price
quotations in active markets.
For Level 2, the values are
determined using valuation models with inputs other
than the quoted prices at Level 1 that are directly
or indirectly observable for
the asset or liability.
The fair
values of Level 3 items are
determined using valuation models
with inputs that are not directly observable for
the asset or liability.
Valuation level
1 includes quoted shares and participations, mutual funds, exchange
-traded derivatives,
and
debt securities quoted on active public and over-the-counter
markets.
Level 3 shares and participations are generally
instruments that are not
publicly quoted, such as equity and
real estate funds,
unquoted shares and warrants.
Level 2 derivatives are
forward contracts whose
valuation is
calculated using quoted market
parameters
such as interest
rates and exchange
rates. Derivatives
at level 3
are derivatives
whose valuations have been calculated
using commonly used derivative
pricing models such as
Black- Scholes, or,
in the case of OTC instrument,
obtained from a counterparty.
Valuation involves
parameters that are
not quoted on the market, such as volatility.
If the volatility used is the publicly available
historical volatility,
the change will not have a significant
impact on the fair values of level
3 options.
Valuations
of debt securities obtained from markets
that are not fully
active are assigned to valuation level
2.
Valuations
of debt securities at valuation level
3 are valuations of illiquid instruments
obtained directly from
the organizer
of the issue or calculated by Evli.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_33": { "value": "
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2.2. Net income from securities transactions
2025
Gains and
losses on sales
Changes in
fair value
Other items
Total
Debt securities
0.0
0.0
0.0
Shares and derivative
contracts
0.0
0.0
0.0
Net income from
securities transactions, total
2.6
-0.5
0.0
2.2
Net income from
foreign exchange
operations
1.3
0.1
1.4
Net income from
securities transactions and foreign
exchange
operations, total
3.9
-0.3
0.0
3.6
2024
Debt securities
0.5
0.0
0.5
Shares and derivative
contracts
0.0
0.2
0.2
Net income from
securities transactions, total
0.5
0.2
0.0
0.7
Net income from
foreign exchange
operations
0.9
-0.4
0.5
Net income from
securities transactions and foreign
exchange
operations, total
1.4
-0.2
0.0
1.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_34": { "value": "
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2.4. Interest income
2025
2024
Debt securities
0.2
0.2
Claims on credit institutions
5.2
8.9
Claims on the public and public sector
entities
0.3
0.6
Other interest
income
0.0
0.0
Interest income,
total
5.7
9.8
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2.7. Interest expenses
2025
2024
Liabilities to the public, public
sector entities and credit
institutions
-0.1
-0.2
Debt securities issued to
the public
-3.0
-4.7
Other interest
expenses
-0.0
-0.0
Interest expenses,
total
-3.1
-4.8
Interest income and expenses
are calculated using the effective
interest rate
method. In recognizing an
impairment loss on a contract classified
as a financial asset, the recovery of interest
is continued at the
lowered accounting balance using the original
effective interest
rate of the contract.
If the receipt of interest
is unlikely,
it is recognized as an impairment loss.
Interest income obtained from
financial assets is recognized
as interest income.
Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_35": { "value": "
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2.4. Interest income
2025
2024
Debt securities
0.2
0.2
Claims on credit institutions
5.2
8.9
Claims on the public and public sector
entities
0.3
0.6
Other interest
income
0.0
0.0
Interest income,
total
5.7
9.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_36": { "value": "
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2.5. Other operating income
2025
2024
Rental income
0.0
0.0
Gain on sale of subsidiaries
0.0
13.8
Other income
0.3
0.6
Other operating
income, total
0.3
14.3
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2.11. Other operating expenses
2025
2024
Viranomaismaksut
-0.8
-0.9
Vuokrakulut
-0.3
-0.1
Muut kulut
-0.0
-0.2
Liiketoiminnan
muut kulut yhteens\u00e4
-1.1
-1.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_37": { "value": "
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2.5. Other operating income
2025
2024
Rental income
0.0
0.0
Gain on sale of subsidiaries
0.0
13.8
Other income
0.3
0.6
Other operating
income, total
0.3
14.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_38": { "value": "
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2.6. Fee and commission expenses
2025
2024
Trading
fees paid to
stock exchanges
-0.0
-0.1
Other commission expenses
-7.0
-4.8
Commission expenses,
total
-7.0
-5.0
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2.7. Interest expenses
2025
2024
Liabilities to the public, public
sector entities and credit
institutions
-0.1
-0.2
Debt securities issued to
the public
-3.0
-4.7
Other interest
expenses
-0.0
-0.0
Interest expenses,
total
-3.1
-4.8
Interest income and expenses
are calculated using the effective
interest rate
method. In recognizing an
impairment loss on a contract classified
as a financial asset, the recovery of interest
is continued at the
lowered accounting balance using the original
effective interest
rate of the contract.
If the receipt of interest
is unlikely,
it is recognized as an impairment loss.
Interest income obtained from
financial assets is recognized
as interest income.
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Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
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2.8. Personnel expenses
2025
2024
Wages and
salaries
-34.9
-32.8
Social security costs
Pension expenses
-5.2
-4.8
Other social security costs
-1.8
-1.6
Equity-settled share
payments
-1.3
-1.1
Employee benefits, total
-43.2
-40.4
The total salaries paid by the Evli Group to its personnel consist
of fixed salaries and remuneration, variable
remuneration under the annually adopted reward system, and long-term incentive
programs.
Fixed salaries play an important role in the company. By aiming to offer its employees a competitive pay level, the
company ensures that it continues to be staffed by a skilled workforce. A reward system based on variable salaries
applies to all the Group\u2019s employees. The objective of the reward system is to support the implementation of the
company\u2019s strategy as
well as promote its competitiveness and long-term
financial success.
In addition to the above remuneration methods, the
company may create separate long-term incentive programs.
Evli Group has five share-based incentive programs in force at the end of the
period for 2021\u2013
2025, 2022,
1/2023\u20136/2026, 9/2023\u201312/2026
and 2025-2027. Under the 2021\u20132025
and 2022-2023 programs, members
have the opportunity to earn shares
for successful performance, in accordance with the terms
of the program.
Under the 1/2023-6/2026
and 9/2023-12/2026 share plans,
plan members may earn shares based on
performance. Under the 1/2023-6/2026
plan, awards are based on the
annualised fund turnover from new
investments in Sweden. The vesting criteria for the 9/2023-12/2026
plan are linked to the company\u2019s operating
profit (EBIT). The vesting criteria for the 2025-2027
plan is linked to the achievement of the company's
performance targets The company\u2019s Board of Directors decides upon the distribution
of shares.
The Evli Group provides
a reward fund for its
employees. All employees of the Evli
Group companies that are
based in Finland are members of the fund. Using the fund is
voluntary.
Decisions to enter rewards
in the fund
are made one year at a time. Social
security costs are not withheld from assets
invested in the fund. The fund
invests its member share
capital in accordance with the Act
on Personnel Funds. Capital
is invested in
accordance with a strategy
prepared jointly by the fund\u2019s
Board of Directors and
Wealth Management.
In the payment of benefits payable
upon termination of employment, Evli
complies with normal agreements
related to termination
of employment pursuant to valid
legislation. During the financial year,
the company has
not paid sign-on payments to new employees.
All of the Evli Group\u2019s
retirement plans are defined contribution
plans. Payments
to defined contribution plans are reflected
in profit or loss in the period in which they are
incurred. The Evli
Group finances all its retirement
plans as contributions to pension insurance companies.
The
contributions take different
countries\u2019 local regulations
and practices into account.
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2.9. Other administrative expenses
2025
2024
Office expenses
-1.3
-1.7
IT and infosystems
-11.6
-10.8
Business expenses
-1.1
-1.4
Travel expenses
-0.9
-1.1
Car costs
-0.1
-0.1
Other HR related expenses
-2.6
-1.7
Marketing expenses
-1.5
-1.3
Banking and custodian
expenses
-1.0
-1.0
External services
-2.6
-3.1
Other administrative
expenses, total
-22.7
-22.2
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2.10. Depreciation and amortization on tangible
and intangible assets
2025
2024
Applications and software
-0.4
-0.7
Other intangible
assets
-0.2
-0.2
Leasehold improvements
0.0
0.0
Assets acquired under finance
leases
0.0
-0.1
Right-of-Use assets
-2.8
-2.6
Equipment and
furniture
-0.2
-0.1
Impairment of goodwill
-
-
Depreciation, amortization
and impaiment losses, total
-3.5
-3.8
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2.11. Other operating expenses
2025
2024
Viranomaismaksut
-0.8
-0.9
Vuokrakulut
-0.3
-0.1
Muut kulut
-0.0
-0.2
Liiketoiminnan
muut kulut yhteens\u00e4
-1.1
-1.2
\n
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2.12. Expected credit losses on loans
and other receivables
2025
2024
Claims on the public and public sector
entities
Expected credit losses
on group level
0.0
0.0
Expected credit losses
individual
0.0
0.0
Guarantees
and other off-balance sheet commitments
0.0
0.0
Sales receivables
0.0
0.0
Realised loan losses
0.0
0.1
Impairment losses on other financial
assets
-0.2
-0.6
Impairment losses, total
-0.2
-0.5
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2.14. Income taxes
2025
2024
Current tax expense
-11.3
-8.3
Taxes from previous years
-0.0
-0.0
Deferred taxes
-0.3
0.1
Other taxes
0.0
0.0
Income taxes,
total
-11.7
-8.2
The profit and loss account\u2019s
tax expenses comprise current
and deferred tax.
Current tax is calculated
on the
taxable profit for
the period determined on the basis of the enacted tax rate
of each country,
adjusted by any
taxes related
to previous periods.
Deferred tax
is generally calculated
on all temporary differences
between the carrying amount of an asset or
liability in the balance sheet and its tax base.
The largest temporary differences
arise from the depreciation of
fixed assets and tax
losses. No deferred tax
is recognized
on the undistributed profits of subsidiaries
to the
extent it is probable that the temporary
difference will
not reverse in the foreseeable
future. Deferred
tax is
measured by using the tax rates
enacted by the balance sheet date.
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8.5. Related party disclosures
2025
2024
Board
Board fees
0.4
0.4
CEO
Salary and short term benefits
0.5
0.5
Pension benefits
0.1
0.1
Deferred compensation
0.5
0.4
Other executive
Group members
1.1
1.0
Other executive
Group members
Salary and short term benefits
1.2
1.2
Pension benefits
-
-
Deferred compensation
0.8
0.5
Total
2.0
1.7
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
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8.6. Transactions
with related parties
Associated
Group
companies
management
2025
Sales
0.8
0.0
Purchases
1.4
0.0
Receivables
0.0
0.0
Liabilities
0.0
0.0
2024
Sales
1.6
0.0
Purchases
1.1
0.0
Receivables
1.0
0.0
Liabilities
0.3
0.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_39": { "value": "
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2.7. Interest expenses
2025
2024
Liabilities to the public, public
sector entities and credit
institutions
-0.1
-0.2
Debt securities issued to
the public
-3.0
-4.7
Other interest
expenses
-0.0
-0.0
Interest expenses,
total
-3.1
-4.8
Interest income and expenses
are calculated using the effective
interest rate
method. In recognizing an
impairment loss on a contract classified
as a financial asset, the recovery of interest
is continued at the
lowered accounting balance using the original
effective interest
rate of the contract.
If the receipt of interest
is unlikely,
it is recognized as an impairment loss.
Interest income obtained from
financial assets is recognized
as interest income.
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Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_40": { "value": "
Interest income and expenses
are calculated using the effective
interest rate
method. In recognizing an
impairment loss on a contract classified
as a financial asset, the recovery of interest
is continued at the
lowered accounting balance using the original
effective interest
rate of the contract.
If the receipt of interest
is unlikely,
it is recognized as an impairment loss.
Interest income obtained from
financial assets is recognized
as interest income.
Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_41": { "value": "
Interest income and expenses
are calculated using the effective
interest rate
method. In recognizing an
impairment loss on a contract classified
as a financial asset, the recovery of interest
is continued at the
lowered accounting balance using the original
effective interest
rate of the contract.
If the receipt of interest
is unlikely,
it is recognized as an impairment loss.
Interest income obtained from
financial assets is recognized
as interest income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_42": { "value": "
Interest income and expenses
are calculated using the effective
interest rate
method. In recognizing an
impairment loss on a contract classified
as a financial asset, the recovery of interest
is continued at the
lowered accounting balance using the original
effective interest
rate of the contract.
If the receipt of interest
is unlikely,
it is recognized as an impairment loss.
Interest income obtained from
financial assets is recognized
as interest income.
Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
In the payment of benefits payable
upon termination of employment, Evli
complies with normal agreements
related to termination
of employment pursuant to valid
legislation. During the financial year,
the company has
not paid sign-on payments to new employees.
All of the Evli Group\u2019s
retirement plans are defined contribution
plans. Payments
to defined contribution plans are reflected
in profit or loss in the period in which they are
incurred. The Evli
Group finances all its retirement
plans as contributions to pension insurance companies.
The
contributions take different
countries\u2019 local regulations
and practices into account.
Fair value determination
The fair value of share
based incentives have been determined at grant
date and the fair
value is expensed
until vesting. The pricing
of the share based incentives granted during
the period was determined by the
following inputs and had the following
effect:
The profit and loss account\u2019s
tax expenses comprise current
and deferred tax.
Current tax is calculated
on the
taxable profit for
the period determined on the basis of the enacted tax rate
of each country,
adjusted by any
taxes related
to previous periods.
Deferred tax
is generally calculated
on all temporary differences
between the carrying amount of an asset or
liability in the balance sheet and its tax base.
The largest temporary differences
arise from the depreciation of
fixed assets and tax
losses. No deferred tax
is recognized
on the undistributed profits of subsidiaries
to the
extent it is probable that the temporary
difference will
not reverse in the foreseeable
future. Deferred
tax is
measured by using the tax rates
enacted by the balance sheet date.
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
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On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
Intangible assets
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
3.9. Property,
plant and equipment
Tangible
fixed assets are
measured at historical cost
less accumulated depreciation and impairment losses.
Subsequent costs are included in the carrying
amount of tangible fixed
assets only if it is probable that the
future economic benefits attributable
to the assets will flow to the Group and that the
cost of acquiring the
assets can be reliably measured.
Other repair and maintenance costs
are recognized in profit
or loss in the
period in which they were incurred.
Assets are depreciated on a straight
-line basis over their estimated
useful lives. The estimated
useful lives are
as follows:
\u2012
Machinery and equipment: 5 years
\u2012
IT equipment: 3 years
\u2012
Assets under finance leases: 3-5 years
\u2012
Renovations of leased premises:
term of lease
The residual values and useful lives
of assets are reviewed at each reporting date
and, if necessary,
are
adjusted to reflect changes
occurring in expectations of useful
life.
The depreciation of an item of property,
plant and equipment will cease when the tangible fixed
asset is
classified as held for sale under IFRS
5 Non-current assets held for sale and discontinued operations.
Gains and losses from the sales
or disposals of tangible fixed assets are included in other operating
income
and expenses.
As a general rule, all leases
are recognized in the balance sheet as a right-of-use asset
and as a lease liability,
except for short-term
leases and contracts
for low-value assets,
to which Evli applies the expedients allowed
by accounting standards.
An asset (the right-of-use a leased asset) and a financial liability
for the payment of
rents are recognized
in the balance sheet. The most significant lease agreements
concluded by Evli
Group
concern leased premises and storage
space related to the premises.
The leases of premises are
for a fixed term and do not include covenants
or
rents that vary according to
revenue, for
example low-value
lease contracts entered into
by Evli Group relate
to leased IT equipment.
The right-of-use is amortized on a straight
-line basis and deferred
interest expense
on the lease liability is
recognized on the income statement.
The Evli Group recognizes
the right-of-use asset and the lease liability at
the inception of the lease. Initially,
the lease liability is measured at current value of the rents
that have not
been paid at the inception of the lease. The future cash flows
of the leases have been discounted to the
current value using the company\u2019s
cost of funds rate. Rents
payable are allocated to
equity and interest
expense. The interest expense
is recognized in the income
statement over
the lease term through profit
or
loss so that the interest
rate on the outstanding debt
is the same in each period. The company has not
calculated a separate interest
component for
the assets required for financing the
lease liabilities due to the
company\u2019s
assessment of the effect beeing immaterial
when assessing the right-of-use assets and
corresponding liabilities.. Depreciation on the right
-of-use
asset is recognized on a straight
-line basis from the
inception of the lease over the lease term.
Typically,
lease contract terms range between
two and five years
and may contain an option to extend the
lease term. The Company has negotiated individual
contracts with potentially differing
terms and conditions
for each location. Potential
options to extend current
leases have not been considered due to uncertainty
related to the use of those options.
Leases in which substantially
all the risks and rewards of ownership
are retained by the lessor
are classified as
other leases. Payments made on operating
leases are recognized
in profit or loss on a straight
-line basis over
the lease term.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_43": { "value": "
Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_44": { "value": "
Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_45": { "value": "
Borrowing costs are recognized
as an expense in the period in which they are incurred.
The directly
attributable transaction costs
of a certain borrowing are included in the original amortized
cost of the
borrowing and are amortized as interest
expense by using the effective
interest method or,
if necessary,
by
following a formula
whose result can be deemed as being sufficiently
near the sum calculated by using the
effective interest
method.
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3.15. Liabilities to credit institutions,
central banks and public
2025
2024
Credit institutions
Other than repayable
on demand, credit institutions
5.3
6.0
Other than repayable
on demand, public
-
-
Liabilities to credit
institutions and public, total
5.3
6.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_46": { "value": "
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2.8. Personnel expenses
2025
2024
Wages and
salaries
-34.9
-32.8
Social security costs
Pension expenses
-5.2
-4.8
Other social security costs
-1.8
-1.6
Equity-settled share
payments
-1.3
-1.1
Employee benefits, total
-43.2
-40.4
The total salaries paid by the Evli Group to its personnel consist
of fixed salaries and remuneration, variable
remuneration under the annually adopted reward system, and long-term incentive
programs.
Fixed salaries play an important role in the company. By aiming to offer its employees a competitive pay level, the
company ensures that it continues to be staffed by a skilled workforce. A reward system based on variable salaries
applies to all the Group\u2019s employees. The objective of the reward system is to support the implementation of the
company\u2019s strategy as
well as promote its competitiveness and long-term
financial success.
In addition to the above remuneration methods, the
company may create separate long-term incentive programs.
Evli Group has five share-based incentive programs in force at the end of the
period for 2021\u2013
2025, 2022,
1/2023\u20136/2026, 9/2023\u201312/2026
and 2025-2027. Under the 2021\u20132025
and 2022-2023 programs, members
have the opportunity to earn shares
for successful performance, in accordance with the terms
of the program.
Under the 1/2023-6/2026
and 9/2023-12/2026 share plans,
plan members may earn shares based on
performance. Under the 1/2023-6/2026
plan, awards are based on the
annualised fund turnover from new
investments in Sweden. The vesting criteria for the 9/2023-12/2026
plan are linked to the company\u2019s operating
profit (EBIT). The vesting criteria for the 2025-2027
plan is linked to the achievement of the company's
performance targets The company\u2019s Board of Directors decides upon the distribution
of shares.
The Evli Group provides
a reward fund for its
employees. All employees of the Evli
Group companies that are
based in Finland are members of the fund. Using the fund is
voluntary.
Decisions to enter rewards
in the fund
are made one year at a time. Social
security costs are not withheld from assets
invested in the fund. The fund
invests its member share
capital in accordance with the Act
on Personnel Funds. Capital
is invested in
accordance with a strategy
prepared jointly by the fund\u2019s
Board of Directors and
Wealth Management.
In the payment of benefits payable
upon termination of employment, Evli
complies with normal agreements
related to termination
of employment pursuant to valid
legislation. During the financial year,
the company has
not paid sign-on payments to new employees.
All of the Evli Group\u2019s
retirement plans are defined contribution
plans. Payments
to defined contribution plans are reflected
in profit or loss in the period in which they are
incurred. The Evli
Group finances all its retirement
plans as contributions to pension insurance companies.
The
contributions take different
countries\u2019 local regulations
and practices into account.
2.8.2. Share based incentives during
the reporting period 1.1.2025-31.12.2025
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Performance
Share
Performance
Share
Performance
Share
Performance
Share
Plan
Restricted
Shares
Plan 2021-2025
PSP 2022
Plan 2023-2025
Plan 2023-2026
Plan 2025-2027
TOTAL
Restricted
Share
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Instrument
Plan 2021
2021-2025
PSP 2022
01/2023-06/2026
2025-2027
2025-2027
Type
Initial amount, pcs
118,000
120,000
78,000
100,000
520,000
295,000
1,231,000
Initial allocation date
12.2.2021
12.2.2021
21.4.2022
7.3.2023
14.9.2023
16.12.2024
End of restriction period
8.2.2026
*
1.6.2023 / 1.6.2024 / 1.6.2025
30.11.2026
31.12.2029
30.6.2028 / 30.6.2029 /
30.6.2030 / 30.6.2031
Maximum contractual
life, yrs
5.0
-
6.2
3.7
6.3
6.5
5.4
Remaining contractual
life, yrs
-
-
0.5 / 1.5 / 2.5
0.9
4.0
2.5 / 3.5 / 4.5 / 5.5
2.7
Number of persons
at the end of the reporting year
-
2
6
4
30
26
Payment
method
Cash & Equity
Cash & Equity
Cash & Equity
Cash & Equity
Cash & Equity
Cash & Equity
* The reward is awarded
in installments
during 2021\u20132025 when the required
performance criteria are met.
Each installment
has a three-year deferral
period. Ownership rights
to the shares subject to
the reward are transferred
to the beneficiary only
after the end of the
deferral period.
The shares paid as a reward
will be subject to a one-year
transfer restriction.
Restricted
Share
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Changes during the
period
Plan 2021
2021-2025
2022-2023
2023-2024
2024-2025
01/2023-06/2026
09/2023-12/2026
2025-2027
Total
1.1.2025
Outstanding at the
beginning of the reporting
period,
pcs
106,000
120,000
26,000
26,000
26,000
80,000
505,000
-
889,000
Changes during the
period
Granted
-
-
-
-
-
-
-
290,000
290,000
Forfeited
-
-
-
-
2,600
-
13 000
-
15,600
Invalidated during
the period
-
-
-
-
-
-
-
-
-
Excercised
106,000
30,000
-
-
-
-
-
-
136,000
Expired
-
-
-
-
-
-
-
-
-
31.12.2025
Excercised at the
end of the period
106,000
30,000
-
-
-
-
-
-
136,000
Outstanding at the
end of the period
-
90,000
26,000
26,000
23,400
80,000
492,000
290,000
1,027,400
Fair value determination
The fair value of share
based incentives have been determined at grant
date and the fair
value is expensed
until vesting. The pricing
of the share based incentives granted during
the period was determined by the
following inputs and had the following
effect:
\n
\n
\n
\n
\n
\n
Valuation parameters
for instruments granted during period
Share price at grant, \u20ac
-
17.40
Share price at reporting period
end, \u20ac -
22.60
Expected dividends, \u20ac -
6.78
Fair value December
31, 2025, \u20ac
1,709,375
Effect
of share-based incentives on the
result and financial position
during the period
Expenses for the
financial year,
share-based payments,
equity-settled, \u20ac
1,273,072
Future cash payment
to be paid to the tax
authorities from share-based payments,
estimated
at the end of the period \u20ac
5,932,500
\n
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8.5. Related party disclosures
2025
2024
Board
Board fees
0.4
0.4
CEO
Salary and short term benefits
0.5
0.5
Pension benefits
0.1
0.1
Deferred compensation
0.5
0.4
Other executive
Group members
1.1
1.0
Other executive
Group members
Salary and short term benefits
1.2
1.2
Pension benefits
-
-
Deferred compensation
0.8
0.5
Total
2.0
1.7
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_47": { "value": "
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2.8. Personnel expenses
2025
2024
Wages and
salaries
-34.9
-32.8
Social security costs
Pension expenses
-5.2
-4.8
Other social security costs
-1.8
-1.6
Equity-settled share
payments
-1.3
-1.1
Employee benefits, total
-43.2
-40.4
The total salaries paid by the Evli Group to its personnel consist
of fixed salaries and remuneration, variable
remuneration under the annually adopted reward system, and long-term incentive
programs.
In addition to the above remuneration methods, the
company may create separate long-term incentive programs.
Evli Group has five share-based incentive programs in force at the end of the
period for 2021\u2013
2025, 2022,
1/2023\u20136/2026, 9/2023\u201312/2026
and 2025-2027. Under the 2021\u20132025
and 2022-2023 programs, members
have the opportunity to earn shares
for successful performance, in accordance with the terms
of the program.
Under the 1/2023-6/2026
and 9/2023-12/2026 share plans,
plan members may earn shares based on
performance. Under the 1/2023-6/2026
plan, awards are based on the
annualised fund turnover from new
investments in Sweden. The vesting criteria for the 9/2023-12/2026
plan are linked to the company\u2019s operating
profit (EBIT). The vesting criteria for the 2025-2027
plan is linked to the achievement of the company's
performance targets The company\u2019s Board of Directors decides upon the distribution
of shares.
2.8.2. Share based incentives during
the reporting period 1.1.2025-31.12.2025
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\n
Performance
Share
Performance
Share
Performance
Share
Performance
Share
Plan
Restricted
Shares
Plan 2021-2025
PSP 2022
Plan 2023-2025
Plan 2023-2026
Plan 2025-2027
TOTAL
Restricted
Share
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Instrument
Plan 2021
2021-2025
PSP 2022
01/2023-06/2026
2025-2027
2025-2027
Type
Initial amount, pcs
118,000
120,000
78,000
100,000
520,000
295,000
1,231,000
Initial allocation date
12.2.2021
12.2.2021
21.4.2022
7.3.2023
14.9.2023
16.12.2024
End of restriction period
8.2.2026
*
1.6.2023 / 1.6.2024 / 1.6.2025
30.11.2026
31.12.2029
30.6.2028 / 30.6.2029 /
30.6.2030 / 30.6.2031
Maximum contractual
life, yrs
5.0
-
6.2
3.7
6.3
6.5
5.4
Remaining contractual
life, yrs
-
-
0.5 / 1.5 / 2.5
0.9
4.0
2.5 / 3.5 / 4.5 / 5.5
2.7
Number of persons
at the end of the reporting year
-
2
6
4
30
26
Payment
method
Cash & Equity
Cash & Equity
Cash & Equity
Cash & Equity
Cash & Equity
Cash & Equity
* The reward is awarded
in installments
during 2021\u20132025 when the required
performance criteria are met.
Each installment
has a three-year deferral
period. Ownership rights
to the shares subject to
the reward are transferred
to the beneficiary only
after the end of the
deferral period.
The shares paid as a reward
will be subject to a one-year
transfer restriction.
Restricted
Share
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Performance
Period
Changes during the
period
Plan 2021
2021-2025
2022-2023
2023-2024
2024-2025
01/2023-06/2026
09/2023-12/2026
2025-2027
Total
1.1.2025
Outstanding at the
beginning of the reporting
period,
pcs
106,000
120,000
26,000
26,000
26,000
80,000
505,000
-
889,000
Changes during the
period
Granted
-
-
-
-
-
-
-
290,000
290,000
Forfeited
-
-
-
-
2,600
-
13 000
-
15,600
Invalidated during
the period
-
-
-
-
-
-
-
-
-
Excercised
106,000
30,000
-
-
-
-
-
-
136,000
Expired
-
-
-
-
-
-
-
-
-
31.12.2025
Excercised at the
end of the period
106,000
30,000
-
-
-
-
-
-
136,000
Outstanding at the
end of the period
-
90,000
26,000
26,000
23,400
80,000
492,000
290,000
1,027,400
Fair value determination
The fair value of share
based incentives have been determined at grant
date and the fair
value is expensed
until vesting. The pricing
of the share based incentives granted during
the period was determined by the
following inputs and had the following
effect:
\n
\n
\n
\n
\n
\n
Valuation parameters
for instruments granted during period
Share price at grant, \u20ac
-
17.40
Share price at reporting period
end, \u20ac -
22.60
Expected dividends, \u20ac -
6.78
Fair value December
31, 2025, \u20ac
1,709,375
Effect
of share-based incentives on the
result and financial position
during the period
Expenses for the
financial year,
share-based payments,
equity-settled, \u20ac
1,273,072
Future cash payment
to be paid to the tax
authorities from share-based payments,
estimated
at the end of the period \u20ac
5,932,500
\n
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\n
8.5. Related party disclosures
2025
2024
Board
Board fees
0.4
0.4
CEO
Salary and short term benefits
0.5
0.5
Pension benefits
0.1
0.1
Deferred compensation
0.5
0.4
Other executive
Group members
1.1
1.0
Other executive
Group members
Salary and short term benefits
1.2
1.2
Pension benefits
-
-
Deferred compensation
0.8
0.5
Total
2.0
1.7
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_48": { "value": "
In the payment of benefits payable
upon termination of employment, Evli
complies with normal agreements
related to termination
of employment pursuant to valid
legislation. During the financial year,
the company has
not paid sign-on payments to new employees.
All of the Evli Group\u2019s
retirement plans are defined contribution
plans. Payments
to defined contribution plans are reflected
in profit or loss in the period in which they are
incurred. The Evli
Group finances all its retirement
plans as contributions to pension insurance companies.
The
contributions take different
countries\u2019 local regulations
and practices into account.
Fair value determination
The fair value of share
based incentives have been determined at grant
date and the fair
value is expensed
until vesting. The pricing
of the share based incentives granted during
the period was determined by the
following inputs and had the following
effect:
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_49": { "value": "
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2.8.1. Personnel count
2025
2024
Number of personnel during
the period, average
313
315
Number of personnel
at the end of the period
317
305
Employees by business
segment at the end of the
period
Wealth Management
and Investor Clients
232
222
Advisory and Corporate Clients
30
32
Group Operations
55
51
Total
317
305
Employees by geographic
market at the
end of the period
Finland
290
280
Sweden
25
23
Arab Emirates
2
2
Total
317
305
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_50": { "value": "
Fair value determination
The fair value of share
based incentives have been determined at grant
date and the fair
value is expensed
until vesting. The pricing
of the share based incentives granted during
the period was determined by the
following inputs and had the following
effect:
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_51": { "value": "
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\n
2.9. Other administrative expenses
2025
2024
Office expenses
-1.3
-1.7
IT and infosystems
-11.6
-10.8
Business expenses
-1.1
-1.4
Travel expenses
-0.9
-1.1
Car costs
-0.1
-0.1
Other HR related expenses
-2.6
-1.7
Marketing expenses
-1.5
-1.3
Banking and custodian
expenses
-1.0
-1.0
External services
-2.6
-3.1
Other administrative
expenses, total
-22.7
-22.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_52": { "value": "
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\n
2.10. Depreciation and amortization on tangible
and intangible assets
2025
2024
Applications and software
-0.4
-0.7
Other intangible
assets
-0.2
-0.2
Leasehold improvements
0.0
0.0
Assets acquired under finance
leases
0.0
-0.1
Right-of-Use assets
-2.8
-2.6
Equipment and
furniture
-0.2
-0.1
Impairment of goodwill
-
-
Depreciation, amortization
and impaiment losses, total
-3.5
-3.8
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3.8. Intangible assets and goodwill
Goodwill
2025
2024
Cost at 1.1.
42.9
46.1
Increases/Decreases
0.0
-3.2
Cost at 31.12.
42.9
42.9
Impairment losses for
the period
Book value at 31.12.
42.9
42.9
Applications and software
2025
2024
Cost at 1.1.
24.0
27.4
Increases/Decreases
0.1
0.7
Cost at 31.12.
24.0
24.0
Accumulated amortisation
and impairment losses at
1.1.
-23.0
-24.9
Amortisation for the
period
-0.4
-0.7
Accumulated amortisation
and impairment losses at 31.12.
-23.4
-23.0
Book value at 31.12.
0.6
0.9
Other intangible
assets
2025
2024
Cost at 1.1.
7.6
7.1
Increases/Decreases
0.0
0.5
Cost at 31.12.
7.6
7.6
Accumulated amortisation
and impairment losses at
1.1.
-6.9
-7.1
Amortisation for the
period
-0.2
0.2
Accumulated amortisation
and impairment losses at 31.12.
-7.1
-6.9
Book value at 31.12.
0.5
0.7
Intangible assets
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
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3.9. Property,
plant and equipment
2025
2024
Equipment and
furniture
Cost at 1.1.
2.3
2.2
Exchange difference
0.0
0.0
Increases/Decreases
0.1
0.2
Cost at 31.12.
2.4
2.3
Accumulated amortisation
and impairment losses at 1.1.
-1.8
-1.8
Translation
difference
from depreciation
for the period
0.0
0.0
Amortisation for the
period
-0.2
-0.1
Accumulated amortisation
and impairment losses at 31.12.
-2.0
-1.8
Book value at 31.12.
0.4
0.5
Leasehold improvements
Cost at 1.1.
Cost at 31.12.
1.4
1.4
Accumulated depreciation
at 1.1.
1.4
1.4
Depreciation for
the period
-1.4
-1.4
Accumulated depreciation
at 31.12.
0.0
0.0
Book value at 31.12.
-1.4
-1.4
Book value at 31.12.
0.0
0.0
Other tangible assets
Cost at 1.1.
0.6
0.6
Cost at 31.12.
0.6
0.6
Book value at 31.12.
0.6
0.6
Property,
plant and equipment, total
at 31.12.
1.0
1.1
Book value of tangible
assets at 31.12.
1.0
1.1
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Tangible
fixed assets are
measured at historical cost
less accumulated depreciation and impairment losses.
Subsequent costs are included in the carrying
amount of tangible fixed
assets only if it is probable that the
future economic benefits attributable
to the assets will flow to the Group and that the
cost of acquiring the
assets can be reliably measured.
Other repair and maintenance costs
are recognized in profit
or loss in the
period in which they were incurred.
Assets are depreciated on a straight
-line basis over their estimated
useful lives. The estimated
useful lives are
as follows:
\u2012
Machinery and equipment: 5 years
\u2012
IT equipment: 3 years
\u2012
Assets under finance leases: 3-5 years
\u2012
Renovations of leased premises:
term of lease
The residual values and useful lives
of assets are reviewed at each reporting date
and, if necessary,
are
adjusted to reflect changes
occurring in expectations of useful
life.
The depreciation of an item of property,
plant and equipment will cease when the tangible fixed
asset is
classified as held for sale under IFRS
5 Non-current assets held for sale and discontinued operations.
Gains and losses from the sales
or disposals of tangible fixed assets are included in other operating
income
and expenses.
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3.10. Right of use assets
2025
2024
Right of use assets at
the beginning 1.1
9.6
11.3
Additions
1.1
0.8
Disposals
0.0
0.0
Depreciations
-2.4
-2.6
Right of use assets at
the end of the period
8.3
9.6
The right-of-use is amortized on a straight
-line basis and deferred
interest expense
on the lease liability is
recognized on the income statement.
The Evli Group recognizes
the right-of-use asset and the lease liability at
the inception of the lease. Initially,
the lease liability is measured at current value of the rents
that have not
been paid at the inception of the lease. The future cash flows
of the leases have been discounted to the
current value using the company\u2019s
cost of funds rate. Rents
payable are allocated to
equity and interest
expense. The interest expense
is recognized in the income
statement over
the lease term through profit
or
loss so that the interest
rate on the outstanding debt
is the same in each period. The company has not
calculated a separate interest
component for
the assets required for financing the
lease liabilities due to the
company\u2019s
assessment of the effect beeing immaterial
when assessing the right-of-use assets and
corresponding liabilities.. Depreciation on the right
-of-use
asset is recognized on a straight
-line basis from the
inception of the lease over the lease term.
Typically,
lease contract terms range between
two and five years
and may contain an option to extend the
lease term. The Company has negotiated individual
contracts with potentially differing
terms and conditions
for each location. Potential
options to extend current
leases have not been considered due to uncertainty
related to the use of those options.
Leases in which substantially
all the risks and rewards of ownership
are retained by the lessor
are classified as
other leases. Payments made on operating
leases are recognized
in profit or loss on a straight
-line basis over
the lease term.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_53": { "value": "
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2.11. Other operating expenses
2025
2024
Viranomaismaksut
-0.8
-0.9
Vuokrakulut
-0.3
-0.1
Muut kulut
-0.0
-0.2
Liiketoiminnan
muut kulut yhteens\u00e4
-1.1
-1.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_54": { "value": "
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2.12. Expected credit losses on loans
and other receivables
2025
2024
Claims on the public and public sector
entities
Expected credit losses
on group level
0.0
0.0
Expected credit losses
individual
0.0
0.0
Guarantees
and other off-balance sheet commitments
0.0
0.0
Sales receivables
0.0
0.0
Realised loan losses
0.0
0.1
Impairment losses on other financial
assets
-0.2
-0.6
Impairment losses, total
-0.2
-0.5
6.4. Expected credit losses
Evli calculates
the Expected Credit Loss (ECL) for
financial assets measured at amortized cost for
each
reporting date. The expected credit
loss is a probability-weighted estimate
of the credit risks
that will
materialize.
The credit risks of financial assets
are under constant scrutiny at
the company.
The company monitors various
factors, both quantitative
and qualitative,
which are estimated to be significant in evaluating
credit risk.
Estimates of future economic trends
are also taken into
account.
Credit risk is assessed through a three-phase model,
where the credit loss for
Phase 1 exposures is estimated
for the following 12
months. If the credit risk of a receivable has grown substantially
after a loan is granted,
the receivable\u2019s
risk level is raised to Phase 2, in
which case the expected credit loss
is estimated for the entire
exercise period.
In a situation where one or more factors
negatively affecting
the solvency of the counterparty
has occurred, the credit is raised
to Phase 3. A loan is recognized as non-performing
when more than 90 days
have passed without the borrower paying
interest or making repayment
or if it is estimated
that the borrower
is unlikely to perform
on its future payment obligations.
If based on all available information
it is estimated that the
credit risk has decreased substantially
after the
loan\u2019s
risk level has been raised to phase 2, and the risk
is at the same level as at the time of granting the loan,
the loan\u2019s
risk level can be returned to phase 1.
The amount of expected credit losses
(ECL) is calculated using the formula:
ECL = exposure x probability
of default (%) x total loss
when realization of collateral
is included.
The parameters are
generally measured on the Group levels,
and financial assets are classified into Groups of
assets with similar risks and collateral.
The probability of default of counterparties
is primarily measured with
statistical
data on the problem receivables in
the credit stock on the national level.
For sales receivables,
a
simplified procedure is used. The Group has no
assets in the \u2018measured at fair
value through comprehensive
income\u2019 class and the debt securities are not valued at amortized
cost. For credits
that have been transferred
to Phase 2, unique calculation parameters
are always
defined at the time of transfer.
The table to the right shows the distribution
of loans granted and the number of non-performing
credits.
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6.4.1 distribution of loans
2025
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
4.8
0.3
0.0
0.0
Corporations Finland
5.1
1.8
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
9.9
1.0
0.0
0.0
2024
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
5.1
0.8
0.0
0.0
Corporations Finland
5.7
1.2
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
10.8
1.0
0.0
0.1
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\n
\n\"doc1p2i0\"\n
The table below shows the balance sheet items
broken down
into the phases 1-3:
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6.4.2. IFRS 9, expected credit losses in stages
Opening balance 1.1.,
2025
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
152.8
152.8
-
-
-
-
Claims on the public
9.9
9.9
0.0
-
0.0
0.0
Corporates
5.1
5.1
-
-
0.0
0.0
Claims on the public, households
4.8
4.8
0.0
-
0.0
0.0
Other
-
-
-
-
-
-
Accounts receivable
2.2
2.2
0.0
-
-
-
Unused credit facilities
0.4
0.3
-
-
-
-
Total
165.3
165.3
0.0
-
0.0
0.0
Opening balance 1.1.,
2024
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
131.2
131.2
-
-
-
-
Claims on the public
10.8
10.8
0.0
-
0.0
0.0
Corporates
5.4
5.4
-
-
0.0
0.0
Claims on the public, households
5.4
5.4
0.0
-
0.0
-
Other
-
-
-
-
-
-
Accounts receivable
5.6
5.5
0.1
-
0.0
0.0
Unused credit facilities
0.5
0.5
-
-
0.0
0.0
Total
148.2
148.1
0.1
-
0.0
0.1
From January 1 to December 31, 2025,
there was no transfer
from Phase 1 to Phase 2 or transfers
from Phase 2 to Phase 3. Evli
has no loan payments overdue by 90 days.
The expected credit losses are
recognized in the profit
and loss account.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_55": { "value": "
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2.13. Share of profit or loss of associates
2025
2024
Northern Horizon A/S
0.1
0.0
Allshares Oy
-1.7
-0.5
Share of profit
or loss associates, total
-1.6
-0.5
Evli does not participate in daily
management of associated companies\u2019 business
operations and instead
focuses on influencing strategic
decisions at the board level.
At the time of preparing Evli\u2019s
consolidated
financial statements,
the income statement and balance sheet
of associated companies are not yet
known,
which is why Evli\u2019s
management must use judgment in estimating
the share of associated companies\u2019
profit
for the financial year.
The estimate is based on the most recent
known profit performance,
prior experience of
possible last minute changes, and other possible factors
that indicate changes.
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3.7. Shares and participations in associates
and joint ventures
2025
2024
At the beginning
of the period
24.0
5.2
Share of profit/loss
-1.6
-0.5
Additions
0.1
20.3
Disposals
-0.5
-1.0
At the end of the
period
22.0
24.0
8. Consolidation and related
party
Consolidation principles
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
\n
\n
\n
\n
The consolidated financial statements
include the parent company Evli
Plc and the following subsidiaries
and
associates:
Company
Country
Ownership
Evli Oyj
Finland
100%
Terra
Nova Capital Advisors
UAE
51%
Evli Research Partners
Oy (ECF tyt\u00e4ryritys)
Finland
70%
Evli Investment
Solutions Oy
Finland
85%
Evli Life Oy
Finland
100%
Evli Fund Management
Company Ltd
Finland
100%
Evli AB
Sweden
83%
EAI Residential Partners
Oy
Finland
75%
Evli Private
Equity Partners Oy
(\"EPEP\")
Finland
80%
Evli Private
Equity I GP Oy (EPEP
tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity II GP Oy (EPEP tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity III GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
Evli Private
Equity IV GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
EAI Feeder GP Oy
Finland
100%
Evli HC I GP Oy
Finland
82%
EGP General Partner
Oy
Finland
70%
EGP General Partner
II Oy
Finland
70%
Evli Infrastructure
Partners
Oy (\"EIP\")
Finland
82%
Evli Infrastructure
I GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Infrastructure
II GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Impact Forest
I GP Oy
Finland
85%
Evli Impact Forest
II GP Oy
Finland
100%
Evli Private
Debt I GP Oy
Finland
85%
Evli Residential
II GP Oy
Finland
70%
EAB Private
Equity Oy (\"EAB PE\")
Finland
65%
Project First GP
Oy (EAB PE tyt\u00e4ryritys)
Finland
65%
Project Second GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Third GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Fourth GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
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\n\"doc1p2i0\"\n
Company
Country
Ownership
EFVAF II GP Oy
Suomi
100%
EFVAF III GP Oy
Suomi
100%
EFVAF IV GP Oy
Suomi
100%
EAB RE Infra II GP Oy
Suomi
100%
EAB P\u00e4\u00e4omarahastot
I GP Oy
Suomi
100%
EAB Credit Fund I GP Oy
Suomi
100%
Elite \u00c4lyenergia Oy
Suomi
100%
Elite Intian Aurinko
Oy
Suomi
100%
Elite Kiinteist\u00f6kehitys
Oy
Suomi
100%
Elite Sijoitus Oy
Suomi
100%
EAB Palvelu Oy
Suomi
100%
Elite Vakuutuspalvelu
Oy
Suomi
100%
Evli Private
Debt II GP Oy
Suomi
85%
Evli Private
Debt III GP Oy
Suomi
85%
Evli Private Capital
Oy
Suomi
73%
Evli Private Capital
I GP Oy (Evli Private
Capital Oy tyt\u00e4ryritys)
Suomi
73%
Zenito Oy
Suomi
66.6%
Evli Private Equity Co-Investment I GP Oy
Suomi
82%
Evli Infrastructure
III GP Oy
Suomi
82%
Northern Horizon A/S
Tanska
41%
Ahti Invest Oy
Suomi
30%
SAV Rahoitus Oy
Suomi
46%
Allshares Oy
Suomi
39%
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Entities outside the group
Companies in which the Group has a majority holding but in which a third party has control
are not
consolidated in the consolidated financial
statements. In
addition, holding companies owned in connection
with the management of customer company
incentive programs
have not been consolidated.
Evli is not
entitled to the variable returns
of these holding companies and Evli does not bear risk in
the companies\u2019
assets or liabilities. Furthermore, funds managed on behalf of clients
are also not consolidated, since the
Group has no control
over them.
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8.1.
Corporate structure
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\n
8.2. Financial success in
companies with non-controlling owners
2025
Assets
Liabilities
Revenue
Profit/Loss for
financial year
Dividends paid to
non-controlling interest
NCI of equity
Terra
Nova Capital
Advisors Ltd
1.4
0.8
9.1
7.7
4.1
0.3
Evli Research Partners
Ltd
0.2
0.1
0.4
-0.0
0.0
0.0
Evli Investment
Solutions Oy
0.6
0.2
2.0
1.3
0.2
0.1
EAI Residential
Partners Oy
0.8
0.1
1.6
0.6
0.1
0.2
Evli Residential
II GP Oy
0.4
0.1
0.5
0.3
0.1
0.1
Evli Private
Equity Co-Investment
I GP Oy
0.5
0.2
0.4
0.3
0.0
0.1
Evli HC I GP Oy
0.7
0.4
1.5
0.0
0.0
0.1
EGP General Partner
Oy
0.3
0.0
0.8
0.2
0.1
0.1
EGP General
Partner II Oy
0.9
0.0
1.5
0.8
0.3
0.3
Evli Infrastructure
III GP Oy
0.4
0.1
0.4
0.3
0.0
0.1
Evli Impact Forest
I GP Oy
0.1
0.1
0.7
-0.0
0.0
0.0
Evli Private
Debt I Gp Oy
0.8
0.1
0.7
0.5
0.0
0.1
Evli Private
Debt II GP Oy
0.3
0.1
0.3
0.1
0.0
0.0
Evli Private
Debt III GP Oy
0.1
0.0
0.0
-0.0
0.0
0.0
Evli Infrastructure
Partners Oy
0.1
0.0
1.6
1.6
0.3
0.3
Evli Private
Equity Partners
Oy
1.1
0.0
3.2
2.5
0.6
1.0
Evli Private
Equity III GP Oy
1.3
0.1
1.4
1.1
0.1
0.1
Evli Private
Equity IV GP Oy
1.6
0.5
1.5
1.2
0.0
0.1
Evli Private
Capital Oy
0.0
0.0
0.0
-0.0
0.0
0.2
EAB Private Equity
Oy
1.0
0.0
0.8
0.6
0.1
0.4
Evli AB
7.5
3.7
10.6
3.3
0.5
0.6
Zenito Oy
4.7
0.8
5.0
3.5
0.2
1.3
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
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\n
\n
8.4. Holdings in consolidated associated companies
2025
2024
2025
2024
2025
2024
2025
Northern
Northern
SAV-
SAV-
Horizon
Horizon
Ahti
Ahti
Rahoitus
Rahoitus
Company name
A/S
A/S
Invest Oy
Invest Oy
Oyj
Oyj
Allshares Oy
Registered
office
Denmark
Denmark
Finland
Finland
Finland
Finland
Finland
Assets
11.0
8.3
29.6
Liabilities
6.5
4.0
6.3
Revenue
7.3
6.4
20.0
Profit (loss) for
the financial period
0.1
Ownership (%)
41.0
47.0
30.0
30.0
46.3
46.3
39.3
Balance sheet value in the
Group
3.0
3.0
1.0
1.0
0.0
0.2
18.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_56": { "value": "
\n
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\n
\n
\n
\n
2.13. Share of profit or loss of associates
2025
2024
Northern Horizon A/S
0.1
0.0
Allshares Oy
-1.7
-0.5
Share of profit
or loss associates, total
-1.6
-0.5
\n
\n
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\n
\n
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\n
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\n
\n
\n
\n
3.7. Shares and participations in associates
and joint ventures
2025
2024
At the beginning
of the period
24.0
5.2
Share of profit/loss
-1.6
-0.5
Additions
0.1
20.3
Disposals
-0.5
-1.0
At the end of the
period
22.0
24.0
8. Consolidation and related
party
Consolidation principles
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
\n
\n
\n
\n
The consolidated financial statements
include the parent company Evli
Plc and the following subsidiaries
and
associates:
Company
Country
Ownership
Evli Oyj
Finland
100%
Terra
Nova Capital Advisors
UAE
51%
Evli Research Partners
Oy (ECF tyt\u00e4ryritys)
Finland
70%
Evli Investment
Solutions Oy
Finland
85%
Evli Life Oy
Finland
100%
Evli Fund Management
Company Ltd
Finland
100%
Evli AB
Sweden
83%
EAI Residential Partners
Oy
Finland
75%
Evli Private
Equity Partners Oy
(\"EPEP\")
Finland
80%
Evli Private
Equity I GP Oy (EPEP
tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity II GP Oy (EPEP tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity III GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
Evli Private
Equity IV GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
EAI Feeder GP Oy
Finland
100%
Evli HC I GP Oy
Finland
82%
EGP General Partner
Oy
Finland
70%
EGP General Partner
II Oy
Finland
70%
Evli Infrastructure
Partners
Oy (\"EIP\")
Finland
82%
Evli Infrastructure
I GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Infrastructure
II GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Impact Forest
I GP Oy
Finland
85%
Evli Impact Forest
II GP Oy
Finland
100%
Evli Private
Debt I GP Oy
Finland
85%
Evli Residential
II GP Oy
Finland
70%
EAB Private
Equity Oy (\"EAB PE\")
Finland
65%
Project First GP
Oy (EAB PE tyt\u00e4ryritys)
Finland
65%
Project Second GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Third GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Fourth GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p2i0\"\n
Company
Country
Ownership
EFVAF II GP Oy
Suomi
100%
EFVAF III GP Oy
Suomi
100%
EFVAF IV GP Oy
Suomi
100%
EAB RE Infra II GP Oy
Suomi
100%
EAB P\u00e4\u00e4omarahastot
I GP Oy
Suomi
100%
EAB Credit Fund I GP Oy
Suomi
100%
Elite \u00c4lyenergia Oy
Suomi
100%
Elite Intian Aurinko
Oy
Suomi
100%
Elite Kiinteist\u00f6kehitys
Oy
Suomi
100%
Elite Sijoitus Oy
Suomi
100%
EAB Palvelu Oy
Suomi
100%
Elite Vakuutuspalvelu
Oy
Suomi
100%
Evli Private
Debt II GP Oy
Suomi
85%
Evli Private
Debt III GP Oy
Suomi
85%
Evli Private Capital
Oy
Suomi
73%
Evli Private Capital
I GP Oy (Evli Private
Capital Oy tyt\u00e4ryritys)
Suomi
73%
Zenito Oy
Suomi
66.6%
Evli Private Equity Co-Investment I GP Oy
Suomi
82%
Evli Infrastructure
III GP Oy
Suomi
82%
Northern Horizon A/S
Tanska
41%
Ahti Invest Oy
Suomi
30%
SAV Rahoitus Oy
Suomi
46%
Allshares Oy
Suomi
39%
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
8.4. Holdings in consolidated associated companies
2025
2024
2025
2024
2025
2024
2025
Northern
Northern
SAV-
SAV-
Horizon
Horizon
Ahti
Ahti
Rahoitus
Rahoitus
Company name
A/S
A/S
Invest Oy
Invest Oy
Oyj
Oyj
Allshares Oy
Registered
office
Denmark
Denmark
Finland
Finland
Finland
Finland
Finland
Assets
11.0
8.3
29.6
Liabilities
6.5
4.0
6.3
Revenue
7.3
6.4
20.0
Profit (loss) for
the financial period
0.1
Ownership (%)
41.0
47.0
30.0
30.0
46.3
46.3
39.3
Balance sheet value in the
Group
3.0
3.0
1.0
1.0
0.0
0.2
18.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_57": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
2.13. Share of profit or loss of associates
2025
2024
Northern Horizon A/S
0.1
0.0
Allshares Oy
-1.7
-0.5
Share of profit
or loss associates, total
-1.6
-0.5
MANAGEMENT JUDGMENT
Evli does not participate in daily
management of associated companies\u2019 business
operations and instead
focuses on influencing strategic
decisions at the board level.
At the time of preparing Evli\u2019s
consolidated
financial statements,
the income statement and balance sheet
of associated companies are not yet
known,
which is why Evli\u2019s
management must use judgment in estimating
the share of associated companies\u2019
profit
for the financial year.
The estimate is based on the most recent
known profit performance,
prior experience of
possible last minute changes, and other possible factors
that indicate changes.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.7. Shares and participations in associates
and joint ventures
2025
2024
At the beginning
of the period
24.0
5.2
Share of profit/loss
-1.6
-0.5
Additions
0.1
20.3
Disposals
-0.5
-1.0
At the end of the
period
22.0
24.0
8. Consolidation and related
party
Consolidation principles
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
\n
\n
\n
\n
The consolidated financial statements
include the parent company Evli
Plc and the following subsidiaries
and
associates:
Company
Country
Ownership
Evli Oyj
Finland
100%
Terra
Nova Capital Advisors
UAE
51%
Evli Research Partners
Oy (ECF tyt\u00e4ryritys)
Finland
70%
Evli Investment
Solutions Oy
Finland
85%
Evli Life Oy
Finland
100%
Evli Fund Management
Company Ltd
Finland
100%
Evli AB
Sweden
83%
EAI Residential Partners
Oy
Finland
75%
Evli Private
Equity Partners Oy
(\"EPEP\")
Finland
80%
Evli Private
Equity I GP Oy (EPEP
tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity II GP Oy (EPEP tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity III GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
Evli Private
Equity IV GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
EAI Feeder GP Oy
Finland
100%
Evli HC I GP Oy
Finland
82%
EGP General Partner
Oy
Finland
70%
EGP General Partner
II Oy
Finland
70%
Evli Infrastructure
Partners
Oy (\"EIP\")
Finland
82%
Evli Infrastructure
I GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Infrastructure
II GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Impact Forest
I GP Oy
Finland
85%
Evli Impact Forest
II GP Oy
Finland
100%
Evli Private
Debt I GP Oy
Finland
85%
Evli Residential
II GP Oy
Finland
70%
EAB Private
Equity Oy (\"EAB PE\")
Finland
65%
Project First GP
Oy (EAB PE tyt\u00e4ryritys)
Finland
65%
Project Second GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Third GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Fourth GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p2i0\"\n
Company
Country
Ownership
EFVAF II GP Oy
Suomi
100%
EFVAF III GP Oy
Suomi
100%
EFVAF IV GP Oy
Suomi
100%
EAB RE Infra II GP Oy
Suomi
100%
EAB P\u00e4\u00e4omarahastot
I GP Oy
Suomi
100%
EAB Credit Fund I GP Oy
Suomi
100%
Elite \u00c4lyenergia Oy
Suomi
100%
Elite Intian Aurinko
Oy
Suomi
100%
Elite Kiinteist\u00f6kehitys
Oy
Suomi
100%
Elite Sijoitus Oy
Suomi
100%
EAB Palvelu Oy
Suomi
100%
Elite Vakuutuspalvelu
Oy
Suomi
100%
Evli Private
Debt II GP Oy
Suomi
85%
Evli Private
Debt III GP Oy
Suomi
85%
Evli Private Capital
Oy
Suomi
73%
Evli Private Capital
I GP Oy (Evli Private
Capital Oy tyt\u00e4ryritys)
Suomi
73%
Zenito Oy
Suomi
66.6%
Evli Private Equity Co-Investment I GP Oy
Suomi
82%
Evli Infrastructure
III GP Oy
Suomi
82%
Northern Horizon A/S
Tanska
41%
Ahti Invest Oy
Suomi
30%
SAV Rahoitus Oy
Suomi
46%
Allshares Oy
Suomi
39%
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\n
8.4. Holdings in consolidated associated companies
2025
2024
2025
2024
2025
2024
2025
Northern
Northern
SAV-
SAV-
Horizon
Horizon
Ahti
Ahti
Rahoitus
Rahoitus
Company name
A/S
A/S
Invest Oy
Invest Oy
Oyj
Oyj
Allshares Oy
Registered
office
Denmark
Denmark
Finland
Finland
Finland
Finland
Finland
Assets
11.0
8.3
29.6
Liabilities
6.5
4.0
6.3
Revenue
7.3
6.4
20.0
Profit (loss) for
the financial period
0.1
Ownership (%)
41.0
47.0
30.0
30.0
46.3
46.3
39.3
Balance sheet value in the
Group
3.0
3.0
1.0
1.0
0.0
0.2
18.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_58": { "value": "
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\n
2.14. Income taxes
2025
2024
Current tax expense
-11.3
-8.3
Taxes from previous years
-0.0
-0.0
Deferred taxes
-0.3
0.1
Other taxes
0.0
0.0
Income taxes,
total
-11.7
-8.2
The profit and loss account\u2019s
tax expenses comprise current
and deferred tax.
Current tax is calculated
on the
taxable profit for
the period determined on the basis of the enacted tax rate
of each country,
adjusted by any
taxes related
to previous periods.
Deferred tax
is generally calculated
on all temporary differences
between the carrying amount of an asset or
liability in the balance sheet and its tax base.
The largest temporary differences
arise from the depreciation of
fixed assets and tax
losses. No deferred tax
is recognized
on the undistributed profits of subsidiaries
to the
extent it is probable that the temporary
difference will
not reverse in the foreseeable
future. Deferred
tax is
measured by using the tax rates
enacted by the balance sheet date.
\n
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2.14.1. Reconciliation between the income tax expense recognized in the income
statement and the taxes
calculated using the parent company\u2019s domestic tax rate
2025
2024
Profit/loss before
taxes, Finland
43.5
49.9
Profit/loss before
taxes, other
countries
12.6
8.3
Profit/loss before
taxes, total
56.1
58.2
Tax at
domestic tax rate
-11.2
-11.6
Effect
of foreign subsidiaries'
differing tax rates
0.9
0.9
Tax at
source paid abroad
0.0
0.0
Income not subject to tax
0.0
2.8
Expenses not deductible for tax
purposes
-0.1
-0.1
Taxes from previous years
0.0
-0,0
Other change
0.0
0.1
Unrecognised tax
assets on previous
years' losses
0.0
-0.1
Other taxes
-1.2
-0.2
Income tax charge
in the consolidated
income statement
-11.7
-8.2
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3.14. Deferred tax assets
2025
2024
Tax assets
Due to timing differences
2.9
3.2
Other temporary differences
From tax losses
carried forward
0.7
0.4
Deferred taxes total
3.6
3.7
MANAGEMENT JUDGMENT
The entry of deferred tax
assets in the balance sheet calls for judgment.
Deferred tax
assets are recognized
to
the extent that future taxable
income is likely
to be generated, against
which the confirmed losses can be
used. The impairment of deferred tax
assets may be necessary
if the future taxable income does not
correspond with the estimate. Deferred
tax assets
are assessed annually in relation to
the Group\u2019s
ability to
generate sufficient
taxable income in the future.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_59": { "value": "
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2.14. Income taxes
2025
2024
Current tax expense
-11.3
-8.3
Taxes from previous years
-0.0
-0.0
Deferred taxes
-0.3
0.1
Other taxes
0.0
0.0
Income taxes,
total
-11.7
-8.2
The profit and loss account\u2019s
tax expenses comprise current
and deferred tax.
Current tax is calculated
on the
taxable profit for
the period determined on the basis of the enacted tax rate
of each country,
adjusted by any
taxes related
to previous periods.
Deferred tax
is generally calculated
on all temporary differences
between the carrying amount of an asset or
liability in the balance sheet and its tax base.
The largest temporary differences
arise from the depreciation of
fixed assets and tax
losses. No deferred tax
is recognized
on the undistributed profits of subsidiaries
to the
extent it is probable that the temporary
difference will
not reverse in the foreseeable
future. Deferred
tax is
measured by using the tax rates
enacted by the balance sheet date.
\n
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2.14.1. Reconciliation between the income tax expense recognized in the income
statement and the taxes
calculated using the parent company\u2019s domestic tax rate
2025
2024
Profit/loss before
taxes, Finland
43.5
49.9
Profit/loss before
taxes, other
countries
12.6
8.3
Profit/loss before
taxes, total
56.1
58.2
Tax at
domestic tax rate
-11.2
-11.6
Effect
of foreign subsidiaries'
differing tax rates
0.9
0.9
Tax at
source paid abroad
0.0
0.0
Income not subject to tax
0.0
2.8
Expenses not deductible for tax
purposes
-0.1
-0.1
Taxes from previous years
0.0
-0,0
Other change
0.0
0.1
Unrecognised tax
assets on previous
years' losses
0.0
-0.1
Other taxes
-1.2
-0.2
Income tax charge
in the consolidated
income statement
-11.7
-8.2
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3.14. Deferred tax assets
2025
2024
Tax assets
Due to timing differences
2.9
3.2
Other temporary differences
From tax losses
carried forward
0.7
0.4
Deferred taxes total
3.6
3.7
MANAGEMENT JUDGMENT
The entry of deferred tax
assets in the balance sheet calls for judgment.
Deferred tax
assets are recognized
to
the extent that future taxable
income is likely
to be generated, against
which the confirmed losses can be
used. The impairment of deferred tax
assets may be necessary
if the future taxable income does not
correspond with the estimate. Deferred
tax assets
are assessed annually in relation to
the Group\u2019s
ability to
generate sufficient
taxable income in the future.
\n
\n
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\n
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\n
3.20. Income tax liability
2025
2024
Direct income tax
liability
5.2
3.0
\n
\n
\n
\n
\n
\n
\n
\n
3.21. Deferred tax liabilities
2025
2024
Due to timing differences
0.0
0.0
Deferred tax
liability,
total
0.0
0.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_60": { "value": "
The profit and loss account\u2019s
tax expenses comprise current
and deferred tax.
Current tax is calculated
on the
taxable profit for
the period determined on the basis of the enacted tax rate
of each country,
adjusted by any
taxes related
to previous periods.
Deferred tax
is generally calculated
on all temporary differences
between the carrying amount of an asset or
liability in the balance sheet and its tax base.
The largest temporary differences
arise from the depreciation of
fixed assets and tax
losses. No deferred tax
is recognized
on the undistributed profits of subsidiaries
to the
extent it is probable that the temporary
difference will
not reverse in the foreseeable
future. Deferred
tax is
measured by using the tax rates
enacted by the balance sheet date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_61": { "value": "
Deferred tax
is generally calculated
on all temporary differences
between the carrying amount of an asset or
liability in the balance sheet and its tax base.
The largest temporary differences
arise from the depreciation of
fixed assets and tax
losses. No deferred tax
is recognized
on the undistributed profits of subsidiaries
to the
extent it is probable that the temporary
difference will
not reverse in the foreseeable
future. Deferred
tax is
measured by using the tax rates
enacted by the balance sheet date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_62": { "value": "
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\n
2.15. Earnings per share (eps)
2025
2024
Profit for the year
attributable
to shareholders
in Evli Plc
36.5
44.6
Avarage number
of A-shares
14401812
14405812
Avarage number
of B-shares
12083087
12079087
Share and option rights
for share-based incentive
programs
1.38
1.69
Own shares
1030000
859000
Comprehensive income
attributable to shareholders
in Evli Plc
1.33
1.63
As both A and B series shares entitle
holders to equal amounts of the company\u2019s
profit, these are not shown
separately.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_63": { "value": "
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\n
3.1.
Cash and equivalents
2025
2024
Petty Cash
-
0.0
Other
-
0.0
Cash and cash equivalents
total
-
0.0
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\n
3.2. Claims on credit institutions
2025
2024
Repayable
on demand
Domestic credit institutions
148.1
123.7
Foreign credit institutions
3.9
5.2
Repayable
on demand, total
152.0
128.9
Other than repayable
on demand
Domestic credit institutions
0.1
0.3
Foreign credit institutions
0.7
2.1
Other than repayable
on demand, total
0.8
2.3
Claims on credit institutions,
total
152.8
131.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_64": { "value": "
\n
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\n
3.2. Claims on credit institutions
2025
2024
Repayable
on demand
Domestic credit institutions
148.1
123.7
Foreign credit institutions
3.9
5.2
Repayable
on demand, total
152.0
128.9
Other than repayable
on demand
Domestic credit institutions
0.1
0.3
Foreign credit institutions
0.7
2.1
Other than repayable
on demand, total
0.8
2.3
Claims on credit institutions,
total
152.8
131.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_65": { "value": "
\n
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\n
3.3. Claims on the public and
public sector entities
2025
2024
Enterprises and housing associations
3.8
4.4
Financial and insurance
corporations
0.3
0.3
Households
4.8
5.0
Foreign countries
1.0
1.0
Claims on the public and
public sector entities by
sector,
total
9.9
10.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_66": { "value": "
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3.4. Debt securities
2025
2024
Publicly quoted
0.0
0.0
Others
Bonds issued by banks
2.0
2.0
Other debt securities
0.2
1.3
Debt securities, total
2.2
3.3
Debt certificates are valued at fair
value and relate to Finnish
investments.
\n
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\n
3.16. Debt securities issued to
the public
2025
2024
Certificate of deposits
-
-
Bonds
109.6
99.4
Debt securities issued to
the public, total
109.6
99.4
3.16.1. Changes in bonds issued
to the public
2025
2024
Issues
43.4
39.0
Repurchases
32.6
32.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_67": { "value": "
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3.5. Shares and participations
2025
2024
Publicly quoted
Other
30.4
30.5
Shares and participations,
total
30.4
30.5
Others
Other
12.0
11.6
Others, total
12.0
11.6
Shares and participations,
total
42.4
42.0
Net risk position is described in section Market Risk,
Notes on Risk Position.3.6. Derivative
contracts.
3.6. Derivative contracts
\n
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\n
\n
3.17. Derivative contracts and other liabilities held
for trading
2025
2024
Derivative contracts
6.8
7.1
Due to short selling of
shares
-
-
Derivative contracts
and other liabilities held for
trading, total
6.8
7.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_68": { "value": "
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\n
3.5. Shares and participations
2025
2024
Publicly quoted
Other
30.4
30.5
Shares and participations,
total
30.4
30.5
Others
Other
12.0
11.6
Others, total
12.0
11.6
Shares and participations,
total
42.4
42.0
Net risk position is described in section Market Risk,
Notes on Risk Position.3.6. Derivative
contracts.
3.6. Derivative contracts
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_69": { "value": "
3.6. Derivative contracts
\n
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\n
3.17. Derivative contracts and other liabilities held
for trading
2025
2024
Derivative contracts
6.8
7.1
Due to short selling of
shares
-
-
Derivative contracts
and other liabilities held for
trading, total
6.8
7.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_70": { "value": "
3.6. Derivative contracts
\n
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\n
3.17. Derivative contracts and other liabilities held
for trading
2025
2024
Derivative contracts
6.8
7.1
Due to short selling of
shares
-
-
Derivative contracts
and other liabilities held for
trading, total
6.8
7.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_71": { "value": "
3.6. Derivative contracts
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_72": { "value": "
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Overall effect
of risks associated with derivative contracts
2025
Remaining maturity
Less than 1 year
1-5 years
5-15 years
Fair value (+/-)
ASSETS
LIABILITIES
Held for trading
Interest rate
swaps
-
6.5
0.3
-
6.8
6.8
Futures
Options bought
Options sold
Currency-linked
derivatives
Held for trading, total
-
6.5
0.3
-
6.8
6.8
Overall effect
of risks associated with derivative contracts
2024
Remaining maturity
Less than 1 year
1-5 years
5-15 years
Fair value (+/-)
ASSETS
LIABILITIES
Held for trading
Interest rate
swaps
1.4
6.2
-0.4
-0.1
7.1
7.1
Futures
Options bought
Options sold
Currency-linked
derivatives
Held for trading, total
1.4
6.2
-0.4
-0.1
7.1
7.1
Derivative financial instruments
are initially recognized at cost,
which corresponds to their fair
value. Subsequently derivative
financial instruments are measured at fair
value. Resulting gains
and losses are treated in accordance
with the purpose of the derivative instrument.
The company does not apply hedge accounting,
and derivative financial instruments
are classified as held for trading. Changes
in the value of derivatives
in this category during the year and the realized
gains/losses are
presented
in the income statement under net
income from securities trading.
Financial derivatives
are embedded derivatives related
to structured bonds issued by Evli.
Their task is to protect against
changes in the value of the underlying asset.
The proportion of open risk in the gross amount is small.
6.1.
Market risks
Market risk refers
to the possibility of loss due to fluctuations in market
prices (price risk).
The market risk
affecting Evli
can be either direct or indirect. Direct
market risk refers
to the company\u2019s
sensitivity to market changes
through its own financial assets and liabilities. In
addition to direct market risks,
Evli is indirectly
exposed to market changes,
for example when a general
market downturn reduces
the
amount of assets under management for clients
and thus the management fees linked
to them. In addition, a
sharp fall in prices tends to drive
investors
to redeem their investments,
which decreases the amount of
assets under management. In addition, advisory services tend to be less in
demand in times of market stress
.
Market risks
can be divided into equity,
interest rate
and currency risks.
Equity risks mean the sensitivity of the
company\u2019s
profitability and market
value in the balance sheet to the changes in the general
price level of the
stock market.
The company\u2019s
direct equity risks consist
of Corporate Finance operations,
temporary position
of the brokerage
business and strategic
investments. The majority
of the company\u2019s
strategic investments
are
private equity funds in which the company
has acted as either a product developer and/or
distributor.
In
addition, the company has made investments
in liquid investment funds it manages and in
individual smaller
companies. Since 2.4.2022, Evli
has also an investment in Alisa
Bank Plc which fair value changes are
recognized directly
in equity.
In principle, all investments are
valued using market quotes.
When a public
market price is
not available, the investment
portfolio and the assets of the trading book are valuated
using
theoretical valuation methods.
Instruments measured by theoretical
means were recognized
entirely through
profit or loss during the financial year,
because the maturity periods of theoretically measured agreements
are short, and the accounting parameters
used are primarily based on information from
the markets. At
the
end of the fiscal year 2025, a
10 percent change in Evli\u2019s
investment portfolio
would have corresponded to
a
EUR 4.2 million change in equity.
Interest risk
means the sensitivity of the company\u2019s profitability
or balance sheet to the changes in the general
interest rate.
Interest rate
risk arises from, among other things, the company\u2019s
investments in fixed
-income
funds. Any current or non-current
interest-bearing loans also
expose Evli to interest
rate risk. A change of 100
basis points in interest
rates would have a EUR
0.4 million effect on Evli\u2019s
equity.
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Currency risk refers
to the uncertainty of cash flow and earnings caused by changes
in exchange rates.
Evli\u2019s
operative actions are mainly
denominated in euros. The Group has some cash
flow and assets in other
currencies than Euro, but this is
minor and does not expose the Group to significant
currency risk. Evli
does
not specifically monitor changes in exchange
rates with regard
to investment operations
but considers them
to be part of the change in the fair value of the investment.
The Group\u2019s
most significant currency position
was in Swedish
crowns, which the Group had at the end of the review
period for EUR 7.9 million. This
was
mainly related to Evli\u2019s
operations in Sweden. A 10 percent
change in the exchange rate
would have an effect
of EUR 0.8
million on the Group\u2019s
equity.
In solvency calculation, the Group\u2019s
market risk is measured by the positions
related to the trading book. In
accordance with minimum capital adequacy calculation,
the necessary amount of own funds is set aside
to
cover market risk.
The minimum capital requirement is
calculated for the position risk of the trading
book and
for the currency risk
of the operations as a whole. The Group\u2019s
investments classified
under the trading book
amounted to EUR 0.0 million at December 31,
2025. The minimum capital requirements for
market risk
were
accordingly EUR 0.0
million at December 31, 2025.
6.1.1. Minimum capital requirement from market risk
Original exposure
Risk-weighted
value
exposure value
Trading
book
Equity instruments
0.0
0.0
Total
0.0
0.0
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6.1.2. Assets and liabilities
in domestic and foreign currencies
Domestic
Foreign
2025
currency
currency
Total
Assets
Financial assets at amortized
cost
Cash and cash equivalents
-
-
-
Claims on credit institutions
141.6
11.3
152.8
Claims on the public and public sector
entities
9.5
0.4
9.9
Financial assets at fair
value through
profit or loss
Debt securities
2.2
-
2.2
Shares and participations
38.8
3.7
42.4
Derivative contracts
6.8
-
6.8
Other asset items
140.0
12.0
152.0
Total
338.9
27.3
366.2
Liabilities
Financial liabilities at amortized
cost
Liabilities to credit institutions
5.3
-
5.3
Liabilities to the public and public
sector entities
-
-
-
Debt securities issued to
the public
109.6
-
109.6
Financial liabilities at fair
value through profit
or loss
6.8
-
6.8
Other liabilities items
76.1
8.7
84.8
Total
197.8
8.7
206.5
6.2. Liquidity risk
Liquidity risk is the risk that Evli\u2019s
available cash and cash equivalents are
not sufficient to cover
the needs of
the business and thus jeopardizing continuity.
In terms of liquidity risk, the Group has a conservative
risk appetite. The Group\u2019s
liquidity is constantly
monitored, and it is maintained
by keeping a significant
part of the company\u2019s assets
either in bank deposits
available on demand or invested
in liquid low-risk
assets that can be quickly converted into
cash. In addition to
investments, the company\u2019s
assets are tied up in loans it has granted, against
which the company has sought
to raise longer-term financing by issuing
structured bonds. The financing from the bonds is
not fully available,
because part of the funds is committed to collateral
that Evli
places with various market counterparties
in
situations where the hedge on structured products
is loss-making. Funds are also used in settlement
due to
settlement issues and the provision of collateral
.
The Investment Firms
Regulation requires investment
services firms to hold liquid assets of at least
one third
of the capital requirement for
fixed overheads calculated
in accordance with the Regulation.
The capital
requirement calculated on
the basis of Evli\u2019s
fixed overheads is EUR 17.0
million and the liquidity requirement
calculated on this basis is EUR
5.7
million. Evli Group\u2019s
liquid assets amounted to EUR 152.8
million on
December 31, 2025.
The following table illustrates
the contractual maturity analysis
of financial liabilities.
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6.2.1 Maturities of assets and
liabilities
2025
2024
Maturity:less
Maturity:
Maturity:
Maturity:
Maturity:less
Maturity:
Maturity:
Maturity:
Total
than 3 months
3-12 months
1-5 years
over 5 years
Total
than 3 months
3-12 months
1-5 years
over 5 years
Assets
Financial assets measured at
amortized cost
-
-
-
-
-
-
-
-
-
-
Cash and cash equivalents
-
-
-
-
-
-
-
-
-
-
Receivables from
credit institutions
152.8
152.8
-
-
-
131.2
131.2
-
-
-
Receivables from
the public and public sector entities
9.9
3.8
1.0
4.9
0.3
10.7
1.9
3.0
5.9
-
Financial assets measured at
fair value through
profit or loss
Debt securities
2.2
-
-
2.2
-
3.3
-
-
3.3
-
Shares and holdings
42.4
30.4
-
-
12.0
42.0
29.7
-
-
12.4
Derivative contracts
6.8
0.6
1.2
4.9
-
7.1
1.4
0.0
6.2
-0.4
Accrued interest
0.2
0.0
0.2
-
-
0.4
0.1
0.4
-
-
Other assets
152.0
152.0
-
-
-
93.4
93.4
-
-
-
Liabilities
Financial liabilities measured
at amortized cost
Liabilities to credit institutions
5.3
5.3
-
-
-
6.0
6.0
-
-
-
Debt securities issued to
the public
109.6
2.4
-
96.0
11.3
99.6
15.8
0.5
73.6
9.7
Financial liabilities measured
at fair value through
profit or loss
6.8
0.6
1.2
4.9
-
7.1
1.4
0.0
6.2
-0.4
Accrued interest,
liabilities
-
-
-
-
-
-
-
-
-
-
Other liabilities
76.5
76.5
-
-
-
95.5
95.5
-
-
-
Off-balance
sheet commitments
3.9
0.4
-
-
3.5
3.2
0.4
0.0
0.1
2.7
Right-of-use liabilities
8.3
0.7
2.0
5.6
0.0
9.6
0.6
1.8
7.1
0.0
6.3. Credit risks
Credit risk is the risk of loss in the event that a
customer or a counterparty of an Evli
Group company fails
to
meet its obligations under a credit relationship
and any collateral
provided is insufficient
to cover the
receivable. Credit risk
also includes country and settlement risks.
Country risk is the credit risk associated with
foreign claims allocated by country.
Settlement risk is the risk of loss of the receivable
being settled,
associated with the settlement process.
Credit risks are mainly
managed through customer and counterparty-specific
limits and collateral
requirements. These, in turn,
are monitored and managed on a daily basis.
The management of settlement
risk focuses on ensuring the suitability
and reliability of counterparties. In principle,
clearing is concentrated in
reliable clearing houses. Independent members
of the executive management approves
all counterparties
with whom non- standardized
derivatives agreements
are made. The company has pledged cash
to
marketplaces and clients have
pledged their client portfolios to
Evli.
The table below shows the collateral
given and received:
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6.3.1. Collaterals set and received
2025
2024
Fair value of
Fair value of
of which usable
Fair value of
Fair value of
of which usable
encumbered assets
unencumbered assets
as collateral
encumbered assets
unencumbered assets
as collateral
Assets
Liquid assets and Central
Bank deposits
-
-
-
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
Claims on credit institutions
0.7
152.1
152.1
2.3
128.9
128.9
Claims on the public and public sector
entities
-
9.9
-
-
10.8
-
Debt securities
-
2.2
2.2
-
3.3
3.3
Shares and participations
-
64.5
42.4
-
66.0
42.0
Other assets
-
137.6
-
-
152.6
-
Total
0.7
366.2
196.7
2.3
361.6
174.2
6.3.2. Usage of collateral
2025
2024
Set collaterals
Markeplace collateral,
stock-
and derivatives
trades
0.1
0.1
Collateral for OTC
derivatives trades
0.7
2.1
Collateral for securities
lending
0.0
0.1
Total
0.8
2.3
Received collateral
Received cash
5.3
6.0
Received secutiries
79.3
84.2
Total
84.6
90.3
6.4. Expected credit losses
Evli calculates
the Expected Credit Loss (ECL) for
financial assets measured at amortized cost for
each
reporting date. The expected credit
loss is a probability-weighted estimate
of the credit risks
that will
materialize.
The credit risks of financial assets
are under constant scrutiny at
the company.
The company monitors various
factors, both quantitative
and qualitative,
which are estimated to be significant in evaluating
credit risk.
Estimates of future economic trends
are also taken into
account.
Credit risk is assessed through a three-phase model,
where the credit loss for
Phase 1 exposures is estimated
for the following 12
months. If the credit risk of a receivable has grown substantially
after a loan is granted,
the receivable\u2019s
risk level is raised to Phase 2, in
which case the expected credit loss
is estimated for the entire
exercise period.
In a situation where one or more factors
negatively affecting
the solvency of the counterparty
has occurred, the credit is raised
to Phase 3. A loan is recognized as non-performing
when more than 90 days
have passed without the borrower paying
interest or making repayment
or if it is estimated
that the borrower
is unlikely to perform
on its future payment obligations.
If based on all available information
it is estimated that the
credit risk has decreased substantially
after the
loan\u2019s
risk level has been raised to phase 2, and the risk
is at the same level as at the time of granting the loan,
the loan\u2019s
risk level can be returned to phase 1.
The amount of expected credit losses
(ECL) is calculated using the formula:
ECL = exposure x probability
of default (%) x total loss
when realization of collateral
is included.
The parameters are
generally measured on the Group levels,
and financial assets are classified into Groups of
assets with similar risks and collateral.
The probability of default of counterparties
is primarily measured with
statistical
data on the problem receivables in
the credit stock on the national level.
For sales receivables,
a
simplified procedure is used. The Group has no
assets in the \u2018measured at fair
value through comprehensive
income\u2019 class and the debt securities are not valued at amortized
cost. For credits
that have been transferred
to Phase 2, unique calculation parameters
are always
defined at the time of transfer.
The table to the right shows the distribution
of loans granted and the number of non-performing
credits.
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6.4.1 distribution of loans
2025
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
4.8
0.3
0.0
0.0
Corporations Finland
5.1
1.8
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
9.9
1.0
0.0
0.0
2024
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
5.1
0.8
0.0
0.0
Corporations Finland
5.7
1.2
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
10.8
1.0
0.0
0.1
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The table below shows the balance sheet items
broken down
into the phases 1-3:
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6.4.2. IFRS 9, expected credit losses in stages
Opening balance 1.1.,
2025
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
152.8
152.8
-
-
-
-
Claims on the public
9.9
9.9
0.0
-
0.0
0.0
Corporates
5.1
5.1
-
-
0.0
0.0
Claims on the public, households
4.8
4.8
0.0
-
0.0
0.0
Other
-
-
-
-
-
-
Accounts receivable
2.2
2.2
0.0
-
-
-
Unused credit facilities
0.4
0.3
-
-
-
-
Total
165.3
165.3
0.0
-
0.0
0.0
Opening balance 1.1.,
2024
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
131.2
131.2
-
-
-
-
Claims on the public
10.8
10.8
0.0
-
0.0
0.0
Corporates
5.4
5.4
-
-
0.0
0.0
Claims on the public, households
5.4
5.4
0.0
-
0.0
-
Other
-
-
-
-
-
-
Accounts receivable
5.6
5.5
0.1
-
0.0
0.0
Unused credit facilities
0.5
0.5
-
-
0.0
0.0
Total
148.2
148.1
0.1
-
0.0
0.1
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7.1.
Classification of assets and liabilities
Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2025
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
152.8
-
-
-
152.8
-
-
-
Claims on the public and public sector
entities
9.9
-
-
-
9.9
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
2.2
-
-
2.2
-
0.0
2.2
Shares and participations
-
39.0
3.5
-
42.4
30.4
-
12.0
Derivative contracts
-
6.8
-
-
6.8
-
-
6.8
Shares and participations in
associates
-
-
-
22.0
22.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.1
44.1
-
-
-
Property,
plant and equipment
-
-
-
1.0
1.0
-
-
-
Other assets
-
-
-
65.5
65.5
-
-
-
Leasing assets
-
-
-
8.3
8.3
-
-
-
Accrued income and prepayments
-
-
-
6.0
6.0
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.6
3.6
-
-
-
Total
assets
162.7
48.0
3.5
152.1
366.2
30.4
0.0
21.1
Liabilities
-
Liabilities to credit institutions
and central banks
5.3
-
-
-
5.3
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
109.6
-
-
-
109.6
-
-
-
Financial liabilities at fair
value through profit
or loss
-
6.8
-
-
6.8
-
-
6.8
Other liabilities
-
-
-
50.1
50.1
-
-
-
Accrued expenses and
deferred income
-
-
-
29.5
29.5
-
-
-
Income tax liability
-
-
-
5.2
5.2
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
114.9
6.8
-
84.8
206.5
-
-
6.8
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Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2024
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
131.2
-
-
-
131.2
-
-
-
Claims on the public and public sector
entities
10.8
-
-
-
10.8
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
3.3
-
-
3.3
-
0.0
3.3
Shares and participations
-
39.5
2.6
-
42.0
30.5
-
11.6
Derivative contracts
-
7.1
-
-
7.1
-
-
7.1
Shares and participations in
associates
-
-
-
24.0
24.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.6
44.6
-
-
-
Property,
plant and equipment
-
-
-
1.1
1.1
-
-
-
Other assets
-
-
-
79.3
79.3
-
-
-
Leasing assets
-
-
-
9.6
9.6
-
-
-
Accrued income and prepayments
-
-
-
3.4
3.4
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.7
3.7
-
-
-
Total
assets
142.0
49.9
2.6
167.2
361.6
30.5
0.0
21.9
Liabilities
-
Liabilities to credit institutions
and central banks
6.0
-
-
-
6.0
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
99.4
-
-
-
99.4
-
-
-
Financial liabilities at fair
value through profit
or loss
-
7.1
-
-
7.1
-
-
7.1
Other liabilities
-
-
-
64.7
64.7
-
-
-
Accrued expenses and
deferred income
-
-
-
27.7
27.7
-
-
-
Income tax liability
-
-
-
3.0
3.0
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
105.5
7.1
-
95.5
208.1
-
-
7.1
Classification of assets and liabilities
The treatment of assets and liabilities is
explained in the accounting policies in section 1.4. When valuing
financial assets and liabilities, Evli classifies balance sheet items
into three levels depending on how the
valuation level is
determined. For Level 1 balance sheet items,
fair values are based on published price
quotations in active markets.
For Level 2, the values are
determined using valuation models with inputs other
than the quoted prices at Level 1 that are directly
or indirectly observable for
the asset or liability.
The fair
values of Level 3 items are
determined using valuation models
with inputs that are not directly observable for
the asset or liability.
Valuation level
1 includes quoted shares and participations, mutual funds, exchange
-traded derivatives,
and
debt securities quoted on active public and over-the-counter
markets.
Level 3 shares and participations are generally
instruments that are not
publicly quoted, such as equity and
real estate funds,
unquoted shares and warrants.
Level 2 derivatives are
forward contracts whose
valuation is
calculated using quoted market
parameters
such as interest
rates and exchange
rates. Derivatives
at level 3
are derivatives
whose valuations have been calculated
using commonly used derivative
pricing models such as
Black- Scholes, or,
in the case of OTC instrument,
obtained from a counterparty.
Valuation involves
parameters that are
not quoted on the market, such as volatility.
If the volatility used is the publicly available
historical volatility,
the change will not have a significant
impact on the fair values of level
3 options.
Valuations
of debt securities obtained from markets
that are not fully
active are assigned to valuation level
2.
Valuations
of debt securities at valuation level
3 are valuations of illiquid instruments
obtained directly from
the organizer
of the issue or calculated by Evli.
\n
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\n
\n
7.2. Financial instruments measured at
fair value through other comprehensive
income
Acquisition price per share as of 1 April 2022: (EUR/share)
0.59
Number of shares: (pcs)
15,288,303.00
Original acquisition, market
value
9.0
Share price as of 31 December 2024: (EUR/share)
0.17
Number of shares (pcs):
15,288,303.00
Market value as of
31 December 2024 (EUR million)
2.6
Share price as of 31 December 2025: (EUR/share)
0.23
Number of shares (pcs):
15,288,303.00
Market value as of
31 December 2025
3.50
Change in value during
the review period (EUR million)
(Market value 31 December
2025 - Market value
31 December 2024)
0.9
Deferred tax
effect of
the change in value: (EUR million)
0.2
Impact of measurement
on items of other comprehensive
income after taxes
0.7
Evli Plc was
created on April 2, 2022 as a result of a partial demerger.
As part of the overall
arrangement, Evli
made a significant investment
in Alisa Bank Plc, the other entity created in the arrangement.
The investment is
of a long-term nature and is not related
to the group\u2019s
operating activities. For
these reasons, the company
presents the effect
of the valuation of the investment
as a separate item in the statement
of comprehensive
income in accordance with IFRS
9. The table above illustrates
the impact of the revaluation on the group\u2019s
statement of comprehensive
income for the period. The shares
are included in the item \u2018other shares
level 1.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_73": { "value": "
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\n
3.7. Shares and participations in associates
and joint ventures
2025
2024
At the beginning
of the period
24.0
5.2
Share of profit/loss
-1.6
-0.5
Additions
0.1
20.3
Disposals
-0.5
-1.0
At the end of the
period
22.0
24.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_74": { "value": "
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3.8. Intangible assets and goodwill
Goodwill
2025
2024
Cost at 1.1.
42.9
46.1
Increases/Decreases
0.0
-3.2
Cost at 31.12.
42.9
42.9
Impairment losses for
the period
Book value at 31.12.
42.9
42.9
Applications and software
2025
2024
Cost at 1.1.
24.0
27.4
Increases/Decreases
0.1
0.7
Cost at 31.12.
24.0
24.0
Accumulated amortisation
and impairment losses at
1.1.
-23.0
-24.9
Amortisation for the
period
-0.4
-0.7
Accumulated amortisation
and impairment losses at 31.12.
-23.4
-23.0
Book value at 31.12.
0.6
0.9
Other intangible
assets
2025
2024
Cost at 1.1.
7.6
7.1
Increases/Decreases
0.0
0.5
Cost at 31.12.
7.6
7.6
Accumulated amortisation
and impairment losses at
1.1.
-6.9
-7.1
Amortisation for the
period
-0.2
0.2
Accumulated amortisation
and impairment losses at 31.12.
-7.1
-6.9
Book value at 31.12.
0.5
0.7
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
MANAGEMENT JUDGMENT
Impairment testing of goodwill is
based on the estimated future recoverable
net cash flows of the cash
generating units to which goodwill
has been allocated, which is then compared to the unit\u2019s
carrying amount.
The testing requires making of assumptions
concerning variables such as the growth rate
of returns, costs
of
operations and the discount rate
at which the incoming cash flows
are converted to the current
value.
At each balance sheet date,
the management assesses whether there is
any indication that an asset may be
impaired. If any
such indication exists, the recoverable
amount of the asset is estimated.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_75": { "value": "
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\n
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\n
\n
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\n
\n
\n
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\n
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
3.8. Intangible assets and goodwill
Goodwill
2025
2024
Cost at 1.1.
42.9
46.1
Increases/Decreases
0.0
-3.2
Cost at 31.12.
42.9
42.9
Impairment losses for
the period
Book value at 31.12.
42.9
42.9
Applications and software
2025
2024
Cost at 1.1.
24.0
27.4
Increases/Decreases
0.1
0.7
Cost at 31.12.
24.0
24.0
Accumulated amortisation
and impairment losses at
1.1.
-23.0
-24.9
Amortisation for the
period
-0.4
-0.7
Accumulated amortisation
and impairment losses at 31.12.
-23.4
-23.0
Book value at 31.12.
0.6
0.9
Other intangible
assets
2025
2024
Cost at 1.1.
7.6
7.1
Increases/Decreases
0.0
0.5
Cost at 31.12.
7.6
7.6
Accumulated amortisation
and impairment losses at
1.1.
-6.9
-7.1
Amortisation for the
period
-0.2
0.2
Accumulated amortisation
and impairment losses at 31.12.
-7.1
-6.9
Book value at 31.12.
0.5
0.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The most significant \u201cOther intangible
assets\u201d are client relationships.
Book value of intangible
assets at 31.12.
44.1
44.6
Intangible assets,
total at 31.12.
44.1
44.6
Intangible assets
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_76": { "value": "
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.8. Intangible assets and goodwill
Goodwill
2025
2024
Cost at 1.1.
42.9
46.1
Increases/Decreases
0.0
-3.2
Cost at 31.12.
42.9
42.9
Impairment losses for
the period
Book value at 31.12.
42.9
42.9
Applications and software
2025
2024
Cost at 1.1.
24.0
27.4
Increases/Decreases
0.1
0.7
Cost at 31.12.
24.0
24.0
Accumulated amortisation
and impairment losses at
1.1.
-23.0
-24.9
Amortisation for the
period
-0.4
-0.7
Accumulated amortisation
and impairment losses at 31.12.
-23.4
-23.0
Book value at 31.12.
0.6
0.9
Other intangible
assets
2025
2024
Cost at 1.1.
7.6
7.1
Increases/Decreases
0.0
0.5
Cost at 31.12.
7.6
7.6
Accumulated amortisation
and impairment losses at
1.1.
-6.9
-7.1
Amortisation for the
period
-0.2
0.2
Accumulated amortisation
and impairment losses at 31.12.
-7.1
-6.9
Book value at 31.12.
0.5
0.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The most significant \u201cOther intangible
assets\u201d are client relationships.
Book value of intangible
assets at 31.12.
44.1
44.6
Intangible assets,
total at 31.12.
44.1
44.6
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
Intangible assets
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
MANAGEMENT JUDGMENT
Impairment testing of goodwill is
based on the estimated future recoverable
net cash flows of the cash
generating units to which goodwill
has been allocated, which is then compared to the unit\u2019s
carrying amount.
The testing requires making of assumptions
concerning variables such as the growth rate
of returns, costs
of
operations and the discount rate
at which the incoming cash flows
are converted to the current
value.
At each balance sheet date,
the management assesses whether there is
any indication that an asset may be
impaired. If any
such indication exists, the recoverable
amount of the asset is estimated.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_77": { "value": "
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_78": { "value": "
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
Intangible assets
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_79": { "value": "
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_80": { "value": "
Goodwill
Goodwill represents the excess
of the cost of an acquired entity
over the Group\u2019s
interest in the fair
value of
the identifiable net assets and liabilities acquired at the acquisition
date. Goodwill is measured at historical
cost less cumulative impairment
losses. Goodwill is not amortized. Goodwill arising in
connection with
acquisitions is tested annually or whenever events
or changes in circumstances indicate
that the carrying
amount may not be recoverable.
For this purpose, goodwill is allocated to cash-generating
units, or,
in the
case of a subsidiary,
goodwill is included in the subsidiary\u2019s acquisition cost,
and the subsidiary forms a cash-
generating unit. If
the carrying amount of goodwill for a cash-generating
unit exceeds its
recoverable amount,
an impairment loss equal to the difference
will be recognized.
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_81": { "value": "
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p65i0\"\n
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_82": { "value": "
For the testing of impairment, the recoverable
amounts of an asset are determined
by calculating the asset\u2019s
value in use. The calculations are
based on five-year cash flow
plans approved by the management.
In the cash flow model, items affecting
each cash-generating unit\u2019s
operational cash flow \u2013 mainly income and
expenses \u2013 are examined.
Cash flows extending after the five
-year forecast
period have been calculated
using
the \u201cfinal value method\u201d.
The income and expenses of each asset are estimated
based on the management\u2019s understanding
of future
developments.
In the final value method growth is
determined using the management\u2019s conservative
estimate of long-term
cash flow growth. The cash flows
used to measure value in use are
discounted to the present value
using the
discount rate that reflects
assessments of the time value of money and the risks
specific to the asset.
In conjunction with goodwill testing,
the sensitivity of the testing to changes in the variable affecting
each
result is also assessed. Sensitivity analyses
are performed on goodwill impairment testing
calculations using
worst-
case scenario forecasts.
These scenarios were used to examine the
change in value in use by changing
the basic assumptions in the definition of value. Future income
and expense cash flows,
the discount rate and
final value growth rate
were changed in the sensitivity
analyses. Among other things, the following tests were
performed:
\u2012
income expectations for
the five-year period under review
were stressed using
20 percent lower return
assumptions than originally assumed;
\u2012
the cost trend was stressed
using 30 percent higher cost-development
than originally assumed;
\u2012
the terminal value was set at
0 percent; and
\u2012
the discount rate was
increased by three percent.
\n
\n
\n
On the basis of the sensitivity analyses carried out, the change in the recoverable
amount for the units tested
does not lead to a situation in which the carrying amount is
greater than the value in use.
2025
Wealth Management
and Investor clients
Goodwill, EUR million
42.9
Assumption of growth
in turnover
4%
Assumption of growth
in costs
3%
Discount rate
13.3%
Terminal
growth rate
2%
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
MANAGEMENT JUDGMENT
Impairment testing of goodwill is
based on the estimated future recoverable
net cash flows of the cash
generating units to which goodwill
has been allocated, which is then compared to the unit\u2019s
carrying amount.
The testing requires making of assumptions
concerning variables such as the growth rate
of returns, costs
of
operations and the discount rate
at which the incoming cash flows
are converted to the current
value.
At each balance sheet date,
the management assesses whether there is
any indication that an asset may be
impaired. If any
such indication exists, the recoverable
amount of the asset is estimated.
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_83": { "value": "
Intangible assets
Intangible assets are recognized
in the balance sheet only if their acquisition cost
can be reliably measured
and if it is probable that the expected future
economic benefits attributable
to the assets will flow to the
company.
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
Impairment of tangible and intangible assets
At each balance sheet date the Group
assesses whether there is
any indication that an asset may be impaired.
If any such indication exists,
the recoverable amount of the
asset is estimated. In
addition, goodwill and
intangible assets not yet available
for use are tested
for impairment annually,
regardless of the existence
of
indication of impairment. The need for
impairment is assessed for each cash-generating
unit.
The recoverable amount
is the higher of an asset\u2019s
fair value less costs
to sell and its value in use. The value in
use is determined as the future net cash flows
expected to be derived from the said asset
or cash-generating
unit which are discounted to present value.
The discount rate
used is a pre-tax discount
rate that reflects
current market assessments
of the time value of money and the risks
specific to the asset.
An impairment loss is recognized if
the carrying amount of an asset is higher than its recoverable
amount. The
useful life
of the asset is reviewed when the impairment loss is recognized.
An impairment loss is reversed
if
circumstances have
changed, and the recoverable
amount has changed since the date of recognizing the
impairment loss. Impairment losses recognized
for goodwill
are not reversed under any
circumstances.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_84": { "value": "
Intangible assets with definite
useful lives are recognized in
the balance sheet at historical
cost and are
amortized in the profit and loss
account on a straight-line basis
over their known or estimated useful lives.
Intangible assets include software
licenses and other intangible
rights whose useful life
is 3-5 years.
Tangible
fixed assets are
measured at historical cost
less accumulated depreciation and impairment losses.
Subsequent costs are included in the carrying
amount of tangible fixed
assets only if it is probable that the
future economic benefits attributable
to the assets will flow to the Group and that the
cost of acquiring the
assets can be reliably measured.
Other repair and maintenance costs
are recognized in profit
or loss in the
period in which they were incurred.
Assets are depreciated on a straight
-line basis over their estimated
useful lives. The estimated
useful lives are
as follows:
Machinery and equipment: 5 years
\u2012
IT equipment: 3 years
\u2012
Assets under finance leases: 3-5 years
\u2012
Renovations of leased premises:
term of lease
The residual values and useful lives
of assets are reviewed at each reporting date
and, if necessary,
are
adjusted to reflect changes
occurring in expectations of useful
life.
The depreciation of an item of property,
plant and equipment will cease when the tangible fixed
asset is
classified as held for sale under IFRS
5 Non-current assets held for sale and discontinued operations.
Gains and losses from the sales
or disposals of tangible fixed assets are included in other operating
income
and expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_85": { "value": "
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3.9. Property,
plant and equipment
2025
2024
Equipment and
furniture
Cost at 1.1.
2.3
2.2
Exchange difference
0.0
0.0
Increases/Decreases
0.1
0.2
Cost at 31.12.
2.4
2.3
Accumulated amortisation
and impairment losses at 1.1.
-1.8
-1.8
Translation
difference
from depreciation
for the period
0.0
0.0
Amortisation for the
period
-0.2
-0.1
Accumulated amortisation
and impairment losses at 31.12.
-2.0
-1.8
Book value at 31.12.
0.4
0.5
Leasehold improvements
Cost at 1.1.
Cost at 31.12.
1.4
1.4
Accumulated depreciation
at 1.1.
1.4
1.4
Depreciation for
the period
-1.4
-1.4
Accumulated depreciation
at 31.12.
0.0
0.0
Book value at 31.12.
-1.4
-1.4
Book value at 31.12.
0.0
0.0
Other tangible assets
Cost at 1.1.
0.6
0.6
Cost at 31.12.
0.6
0.6
Book value at 31.12.
0.6
0.6
Property,
plant and equipment, total
at 31.12.
1.0
1.1
Book value of tangible
assets at 31.12.
1.0
1.1
\n
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\n
\n
Tangible
fixed assets are
measured at historical cost
less accumulated depreciation and impairment losses.
Subsequent costs are included in the carrying
amount of tangible fixed
assets only if it is probable that the
future economic benefits attributable
to the assets will flow to the Group and that the
cost of acquiring the
assets can be reliably measured.
Other repair and maintenance costs
are recognized in profit
or loss in the
period in which they were incurred.
Assets are depreciated on a straight
-line basis over their estimated
useful lives. The estimated
useful lives are
as follows:
\u2012
Machinery and equipment: 5 years
\u2012
IT equipment: 3 years
\u2012
Assets under finance leases: 3-5 years
\u2012
Renovations of leased premises:
term of lease
The residual values and useful lives
of assets are reviewed at each reporting date
and, if necessary,
are
adjusted to reflect changes
occurring in expectations of useful
life.
The depreciation of an item of property,
plant and equipment will cease when the tangible fixed
asset is
classified as held for sale under IFRS
5 Non-current assets held for sale and discontinued operations.
Gains and losses from the sales
or disposals of tangible fixed assets are included in other operating
income
and expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_86": { "value": "
Tangible
fixed assets are
measured at historical cost
less accumulated depreciation and impairment losses.
Subsequent costs are included in the carrying
amount of tangible fixed
assets only if it is probable that the
future economic benefits attributable
to the assets will flow to the Group and that the
cost of acquiring the
assets can be reliably measured.
Other repair and maintenance costs
are recognized in profit
or loss in the
period in which they were incurred.
Assets are depreciated on a straight
-line basis over their estimated
useful lives. The estimated
useful lives are
as follows:
\u2012
Machinery and equipment: 5 years
\u2012
IT equipment: 3 years
\u2012
Assets under finance leases: 3-5 years
\u2012
Renovations of leased premises:
term of lease
The residual values and useful lives
of assets are reviewed at each reporting date
and, if necessary,
are
adjusted to reflect changes
occurring in expectations of useful
life.
The depreciation of an item of property,
plant and equipment will cease when the tangible fixed
asset is
classified as held for sale under IFRS
5 Non-current assets held for sale and discontinued operations.
Gains and losses from the sales
or disposals of tangible fixed assets are included in other operating
income
and expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_87": { "value": "
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\n
3.10. Right of use assets
2025
2024
Right of use assets at
the beginning 1.1
9.6
11.3
Additions
1.1
0.8
Disposals
0.0
0.0
Depreciations
-2.4
-2.6
Right of use assets at
the end of the period
8.3
9.6
As a general rule, all leases
are recognized in the balance sheet as a right-of-use asset
and as a lease liability,
except for short-term
leases and contracts
for low-value assets,
to which Evli applies the expedients allowed
by accounting standards.
An asset (the right-of-use a leased asset) and a financial liability
for the payment of
rents are recognized
in the balance sheet. The most significant lease agreements
concluded by Evli
Group
concern leased premises and storage
space related to the premises.
The leases of premises are
for a fixed term and do not include covenants
or
rents that vary according to
revenue, for
example low-value
lease contracts entered into
by Evli Group relate
to leased IT equipment.
The right-of-use is amortized on a straight
-line basis and deferred
interest expense
on the lease liability is
recognized on the income statement.
The Evli Group recognizes
the right-of-use asset and the lease liability at
the inception of the lease. Initially,
the lease liability is measured at current value of the rents
that have not
been paid at the inception of the lease. The future cash flows
of the leases have been discounted to the
current value using the company\u2019s
cost of funds rate. Rents
payable are allocated to
equity and interest
expense. The interest expense
is recognized in the income
statement over
the lease term through profit
or
loss so that the interest
rate on the outstanding debt
is the same in each period. The company has not
calculated a separate interest
component for
the assets required for financing the
lease liabilities due to the
company\u2019s
assessment of the effect beeing immaterial
when assessing the right-of-use assets and
corresponding liabilities.. Depreciation on the right
-of-use
asset is recognized on a straight
-line basis from the
inception of the lease over the lease term.
Typically,
lease contract terms range between
two and five years
and may contain an option to extend the
lease term. The Company has negotiated individual
contracts with potentially differing
terms and conditions
for each location. Potential
options to extend current
leases have not been considered due to uncertainty
related to the use of those options.
Leases in which substantially
all the risks and rewards of ownership
are retained by the lessor
are classified as
other leases. Payments made on operating
leases are recognized
in profit or loss on a straight
-line basis over
the lease term.
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.18. Other liabilities
2025
2024
Securities broking liabilities
35.5
48.1
Securities purchase liabilities
1.2
1.2
Finance lease payables
0.0
0.0
right-of-use liability
8.3
9.6
Income tax payable
0.1
0.1
Personnel related
0.9
0.8
Other short-term
liabilities
3.9
4.7
Prepayments
of cash customers
0.0
0.0
VAT
payable
0.2
0.3
Other liabilities, total
50.1
64.7
Other short term liabilities
include brokerage
related short term
liabilities.
Right-of-use-liabilities
2025
2024
Rental liabilities
up to one year
2.7
2.4
Rental liabilities
over one year and less
than 5 years
5.6
7.1
Rental liabilities
over 5 years
0.0
0.0
Leasing liabilities not later than
one year
0.0
0.0
Leasing liabilities over year
not later than five
year
0.0
0.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_88": { "value": "
As a general rule, all leases
are recognized in the balance sheet as a right-of-use asset
and as a lease liability,
except for short-term
leases and contracts
for low-value assets,
to which Evli applies the expedients allowed
by accounting standards.
An asset (the right-of-use a leased asset) and a financial liability
for the payment of
rents are recognized
in the balance sheet. The most significant lease agreements
concluded by Evli
Group
concern leased premises and storage
space related to the premises.
The leases of premises are
for a fixed term and do not include covenants
or
rents that vary according to
revenue, for
example low-value
lease contracts entered into
by Evli Group relate
to leased IT equipment.
The right-of-use is amortized on a straight
-line basis and deferred
interest expense
on the lease liability is
recognized on the income statement.
The Evli Group recognizes
the right-of-use asset and the lease liability at
the inception of the lease. Initially,
the lease liability is measured at current value of the rents
that have not
been paid at the inception of the lease. The future cash flows
of the leases have been discounted to the
current value using the company\u2019s
cost of funds rate. Rents
payable are allocated to
equity and interest
expense. The interest expense
is recognized in the income
statement over
the lease term through profit
or
loss so that the interest
rate on the outstanding debt
is the same in each period. The company has not
calculated a separate interest
component for
the assets required for financing the
lease liabilities due to the
company\u2019s
assessment of the effect beeing immaterial
when assessing the right-of-use assets and
corresponding liabilities.. Depreciation on the right
-of-use
asset is recognized on a straight
-line basis from the
inception of the lease over the lease term.
Typically,
lease contract terms range between
two and five years
and may contain an option to extend the
lease term. The Company has negotiated individual
contracts with potentially differing
terms and conditions
for each location. Potential
options to extend current
leases have not been considered due to uncertainty
related to the use of those options.
Leases in which substantially
all the risks and rewards of ownership
are retained by the lessor
are classified as
other leases. Payments made on operating
leases are recognized
in profit or loss on a straight
-line basis over
the lease term.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_89": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.11. Other assets
2025
2024
Securities sale receivables
0.7
0.5
Commission receivables
27.1
30.8
Securities broking receivables
37.6
47.9
Other receivables
0.0
0.0
Other assets total
65.4
79.3
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.12. Accrued income and
prepayments
2025
2024
Interest
0.2
0.4
Staff-related
0.0
0.1
Other items
5.7
3.0
Accrued income
and prepayments total
6.0
3.4
\n
\n
\n
\n
\n
\n
\n
3.13. Income tax receivables
2025
2024
Income tax receivables
1.6
1.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_90": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.11. Other assets
2025
2024
Securities sale receivables
0.7
0.5
Commission receivables
27.1
30.8
Securities broking receivables
37.6
47.9
Other receivables
0.0
0.0
Other assets total
65.4
79.3
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
7.5.
Assets under management - as
of 31 december
Billion euros
2025
2024
Gross
21.4
18.9
Net
18.9
16.6
Assets under management
on the basis of power of attorney
Discretionary asset management
6.7
6.1
Consultative asset
management
0.2
0.2
Total
6.9
6.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_91": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.11. Other assets
2025
2024
Securities sale receivables
0.7
0.5
Commission receivables
27.1
30.8
Securities broking receivables
37.6
47.9
Other receivables
0.0
0.0
Other assets total
65.4
79.3
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.12. Accrued income and
prepayments
2025
2024
Interest
0.2
0.4
Staff-related
0.0
0.1
Other items
5.7
3.0
Accrued income
and prepayments total
6.0
3.4
\n
\n
\n
\n
\n
\n
\n
3.13. Income tax receivables
2025
2024
Income tax receivables
1.6
1.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_92": { "value": "
\n
\n
\n
\n
\n
\n
\n
3.13. Income tax receivables
2025
2024
Income tax receivables
1.6
1.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.14. Deferred tax assets
2025
2024
Tax assets
Due to timing differences
2.9
3.2
Other temporary differences
From tax losses
carried forward
0.7
0.4
Deferred taxes total
3.6
3.7
The entry of deferred tax
assets in the balance sheet calls for judgment.
Deferred tax
assets are recognized
to
the extent that future taxable
income is likely
to be generated, against
which the confirmed losses can be
used. The impairment of deferred tax
assets may be necessary
if the future taxable income does not
correspond with the estimate. Deferred
tax assets
are assessed annually in relation to
the Group\u2019s
ability to
generate sufficient
taxable income in the future.
\n
\n
\n
\n
\n
\n
\n
3.20. Income tax liability
2025
2024
Direct income tax
liability
5.2
3.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_93": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.18. Other liabilities
2025
2024
Securities broking liabilities
35.5
48.1
Securities purchase liabilities
1.2
1.2
Finance lease payables
0.0
0.0
right-of-use liability
8.3
9.6
Income tax payable
0.1
0.1
Personnel related
0.9
0.8
Other short-term
liabilities
3.9
4.7
Prepayments
of cash customers
0.0
0.0
VAT
payable
0.2
0.3
Other liabilities, total
50.1
64.7
Other short term liabilities
include brokerage
related short term
liabilities.
Right-of-use-liabilities
2025
2024
Rental liabilities
up to one year
2.7
2.4
Rental liabilities
over one year and less
than 5 years
5.6
7.1
Rental liabilities
over 5 years
0.0
0.0
Leasing liabilities not later than
one year
0.0
0.0
Leasing liabilities over year
not later than five
year
0.0
0.0
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.19. Accrued expenses and
deferred income
2025
2024
Interest
0.0
0.1
Personnel related
15.8
15.7
Other accrued expenses
13.8
11.6
Accrued expenses and
deferred income,
total
29.5
27.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_94": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.18. Other liabilities
2025
2024
Securities broking liabilities
35.5
48.1
Securities purchase liabilities
1.2
1.2
Finance lease payables
0.0
0.0
right-of-use liability
8.3
9.6
Income tax payable
0.1
0.1
Personnel related
0.9
0.8
Other short-term
liabilities
3.9
4.7
Prepayments
of cash customers
0.0
0.0
VAT
payable
0.2
0.3
Other liabilities, total
50.1
64.7
Other short term liabilities
include brokerage
related short term
liabilities.
Right-of-use-liabilities
2025
2024
Rental liabilities
up to one year
2.7
2.4
Rental liabilities
over one year and less
than 5 years
5.6
7.1
Rental liabilities
over 5 years
0.0
0.0
Leasing liabilities not later than
one year
0.0
0.0
Leasing liabilities over year
not later than five
year
0.0
0.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_95": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.18. Other liabilities
2025
2024
Securities broking liabilities
35.5
48.1
Securities purchase liabilities
1.2
1.2
Finance lease payables
0.0
0.0
right-of-use liability
8.3
9.6
Income tax payable
0.1
0.1
Personnel related
0.9
0.8
Other short-term
liabilities
3.9
4.7
Prepayments
of cash customers
0.0
0.0
VAT
payable
0.2
0.3
Other liabilities, total
50.1
64.7
Other short term liabilities
include brokerage
related short term
liabilities.
Right-of-use-liabilities
2025
2024
Rental liabilities
up to one year
2.7
2.4
Rental liabilities
over one year and less
than 5 years
5.6
7.1
Rental liabilities
over 5 years
0.0
0.0
Leasing liabilities not later than
one year
0.0
0.0
Leasing liabilities over year
not later than five
year
0.0
0.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_96": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.19. Accrued expenses and
deferred income
2025
2024
Interest
0.0
0.1
Personnel related
15.8
15.7
Other accrued expenses
13.8
11.6
Accrued expenses and
deferred income,
total
29.5
27.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_97": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.22. Share capital
Unrestricted
Share capital
equity fund
2025
A-shares
B-shares
Shares total
EUR
M\u20ac
At the beginning
of period 1.1.
14,405,812
12,079,087
26,484,899
53.7
15.9
Additions
-
8,000
8,000
Decreases
-8,000
-
-8,000
-0.1
At the end of period
31.12.
14,397,812
12,087,087
26,484,899
53.7
15.8
2024
At the beginning
of period 1.1.
14,425,812
12,059,087
26,484,899
53.7
17.5
Additions
-
20,000
20,000
-
Decreases
(20,000)
-
(20,000)
-
-1.5
At the end of period
31.12.
14,405,812
12,079,087
26,484,899
53.7
15.9
Share capital consists
of shares in the parent company,
which are classified as equity.
The share capital
includes the subscription price received in connection with
share issues to the extent that the subscription
price is not recognized in the reserve for
invested unrestricted
equity under the decision to issue shares.
The
company has two series of shares,
series A and B. The shares have uniform rights
to the company\u2019s
profits and
assets, but A shares have 20
votes and B shares one (1) vote for
each share at the general
meeting The shares
have no nominal value. All issued
shares have been fully paid up.
Treasury
shares
The consideration paid for treasury
shares and the transaction
costs directly attributable
to the acquisition,
adjusted for tax effects,
are deducted from equity until the
shares are cancelled or reissued.
If these treasury
shares are subsequently reissued,
the consideration received is
recognized directly in equity,
net of any
transaction costs directly
attributable to the issue and of the tax
portion.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p2i0\"\n
Existing share issue authorizations
On March 18, 2025, the Annual General Meeting of the Company
authorized the Board of Directors
to decide
on the issue of shares and special rights entitling
to shares. The authorization allows
the Board of Directors to
decide on the issue or transfer
of up to 2,648,489 B shares in the company.
Of the above-mentioned total
number,
however,
a maximum of 264,848
shares may be used as part of the company\u2019s
share-based incentive
programs. The authorization
is valid until the end of the next
Annual General Meeting, but not later than June
30, 2026.
Existing authorizations to acquire shares in the company
The Board of Directors
is authorized by the General Meeting
to acquire a maximum of 1,44
0,581 A shares and
a maximum of 1,207,908 B shares.
Under the authorization, treasury shares
may only be acquired with
unrestricted equity.
The authorization is valid until
the end of the next Annual General Meeting, but not later
than June 30, 2025.
3.23. treasury shares held by the
company
The company did not hold any treasury
shares at December 31, 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_98": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.22. Share capital
Unrestricted
Share capital
equity fund
2025
A-shares
B-shares
Shares total
EUR
M\u20ac
At the beginning
of period 1.1.
14,405,812
12,079,087
26,484,899
53.7
15.9
Additions
-
8,000
8,000
Decreases
-8,000
-
-8,000
-0.1
At the end of period
31.12.
14,397,812
12,087,087
26,484,899
53.7
15.8
2024
At the beginning
of period 1.1.
14,425,812
12,059,087
26,484,899
53.7
17.5
Additions
-
20,000
20,000
-
Decreases
(20,000)
-
(20,000)
-
-1.5
At the end of period
31.12.
14,405,812
12,079,087
26,484,899
53.7
15.9
Share capital consists
of shares in the parent company,
which are classified as equity.
The share capital
includes the subscription price received in connection with
share issues to the extent that the subscription
price is not recognized in the reserve for
invested unrestricted
equity under the decision to issue shares.
The
company has two series of shares,
series A and B. The shares have uniform rights
to the company\u2019s
profits and
assets, but A shares have 20
votes and B shares one (1) vote for
each share at the general
meeting The shares
have no nominal value. All issued
shares have been fully paid up.
Existing authorizations to acquire shares in the company
The Board of Directors
is authorized by the General Meeting
to acquire a maximum of 1,44
0,581 A shares and
a maximum of 1,207,908 B shares.
Under the authorization, treasury shares
may only be acquired with
unrestricted equity.
The authorization is valid until
the end of the next Annual General Meeting, but not later
than June 30, 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_99": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
3.22. Share capital
Unrestricted
Share capital
equity fund
2025
A-shares
B-shares
Shares total
EUR
M\u20ac
At the beginning
of period 1.1.
14,405,812
12,079,087
26,484,899
53.7
15.9
Additions
-
8,000
8,000
Decreases
-8,000
-
-8,000
-0.1
At the end of period
31.12.
14,397,812
12,087,087
26,484,899
53.7
15.8
2024
At the beginning
of period 1.1.
14,425,812
12,059,087
26,484,899
53.7
17.5
Additions
-
20,000
20,000
-
Decreases
(20,000)
-
(20,000)
-
-1.5
At the end of period
31.12.
14,405,812
12,079,087
26,484,899
53.7
15.9
Share capital consists
of shares in the parent company,
which are classified as equity.
The share capital
includes the subscription price received in connection with
share issues to the extent that the subscription
price is not recognized in the reserve for
invested unrestricted
equity under the decision to issue shares.
The
company has two series of shares,
series A and B. The shares have uniform rights
to the company\u2019s
profits and
assets, but A shares have 20
votes and B shares one (1) vote for
each share at the general
meeting The shares
have no nominal value. All issued
shares have been fully paid up.
Treasury
shares
The consideration paid for treasury
shares and the transaction
costs directly attributable
to the acquisition,
adjusted for tax effects,
are deducted from equity until the
shares are cancelled or reissued.
If these treasury
shares are subsequently reissued,
the consideration received is
recognized directly in equity,
net of any
transaction costs directly
attributable to the issue and of the tax
portion.
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p2i0\"\n
Existing share issue authorizations
On March 18, 2025, the Annual General Meeting of the Company
authorized the Board of Directors
to decide
on the issue of shares and special rights entitling
to shares. The authorization allows
the Board of Directors to
decide on the issue or transfer
of up to 2,648,489 B shares in the company.
Of the above-mentioned total
number,
however,
a maximum of 264,848
shares may be used as part of the company\u2019s
share-based incentive
programs. The authorization
is valid until the end of the next
Annual General Meeting, but not later than June
30, 2026.
Existing authorizations to acquire shares in the company
The Board of Directors
is authorized by the General Meeting
to acquire a maximum of 1,44
0,581 A shares and
a maximum of 1,207,908 B shares.
Under the authorization, treasury shares
may only be acquired with
unrestricted equity.
The authorization is valid until
the end of the next Annual General Meeting, but not later
than June 30, 2025.
Invested unrestricted equity reserve
The invested unrestricted
equity reserve includes other investments
of an equity nature and the share
subscription price to the extent that it
is not explicitly included by decision in the share
capital.
Retained earnings
Retained earnings include assets accumulated
from previous
financial years that have
not been distributed as
dividends to owners.
3.23. treasury shares held by the
company
The company did not hold any treasury
shares at December 31, 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_100": { "value": "
Treasury
shares
The consideration paid for treasury
shares and the transaction
costs directly attributable
to the acquisition,
adjusted for tax effects,
are deducted from equity until the
shares are cancelled or reissued.
If these treasury
shares are subsequently reissued,
the consideration received is
recognized directly in equity,
net of any
transaction costs directly
attributable to the issue and of the tax
portion.
Existing authorizations to acquire shares in the company
The Board of Directors
is authorized by the General Meeting
to acquire a maximum of 1,44
0,581 A shares and
a maximum of 1,207,908 B shares.
Under the authorization, treasury shares
may only be acquired with
unrestricted equity.
The authorization is valid until
the end of the next Annual General Meeting, but not later
than June 30, 2025.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_101": { "value": "
Invested unrestricted equity reserve
The invested unrestricted
equity reserve includes other investments
of an equity nature and the share
subscription price to the extent that it
is not explicitly included by decision in the share
capital.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_102": { "value": "
Retained earnings
Retained earnings include assets accumulated
from previous
financial years that have
not been distributed as
dividends to owners.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_103": { "value": "
\n
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\n
\n
4. Off
-balance-sheet commitments
4.1. Breakdown of off-balance sheet commitments
2025
2024
Investment
commitments
3.5
2.7
Unused credit facilities
0.4
0.5
Business mortgages
-
-
Commitments given on behalf of a customer for
a third party include collaterals
for derivatives
positions given
on behalf of customers. The customers
have covered
their derivatives collateral
to Evli in full. Other
irrevocable commitments
given on behalf of a customer comprise
subscription commitments guaranteed on
behalf of customers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_104": { "value": "
\n
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\n
\n
\n
\n
4. Off
-balance-sheet commitments
4.1. Breakdown of off-balance sheet commitments
2025
2024
Investment
commitments
3.5
2.7
Unused credit facilities
0.4
0.5
Business mortgages
-
-
Commitments given on behalf of a customer for
a third party include collaterals
for derivatives
positions given
on behalf of customers. The customers
have covered
their derivatives collateral
to Evli in full. Other
irrevocable commitments
given on behalf of a customer comprise
subscription commitments guaranteed on
behalf of customers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_105": { "value": "
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\n
5. Segment reporting
5.1. Segment income statement
2025
2024
Wealth Management
and Investor Clients
Advisory and
Corporate Clients
Group Operations
Unallocated
Group
Wealth Management
and Investor Clients
Advisory and
Corporate Clients
Group Operations
Unallocated
Group
REVENUE
Net Interest
Income
0.0
0.0
2.6
0.0
2.6
0.0
0.0
4.9
0.0
4.9
Commission income and
expense, net
115.2
6.8
0.0
0.0
122.0
96.4
9.9
0.0
0.0
106.3
Net income from
securities transactions
and foreign
exchange dealing
0.0
0.0
3.6
0.0
3.6
0.0
0.0
1.2
0.0
1.2
Other operating income
0.0
0.0
0.3
0.0
0.3
0.0
0.0
14.3
0.0
14.3
External sales
115.2
6.8
6.5
0.0
128.5
96.4
9.9
20.5
0.0
126.8
Inter-segment sales
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Total
revenue
115.2
6.8
6.5
0.0
128.5
96.4
9.9
20.5
0.0
126.8
Timing of revenue
recognition
Over time
87.5
0.4
0.0
0.0
87.9
81.9
2.9
0.0
0.0
84.8
At a point of time
27.6
6.4
0.0
0.0
34.1
14.5
7.0
0.0
0.0
21.5
RESULT
Segment operating
expenses
-47.6
-4.9
-14.7
0.0
-67.2
-45.7
-5.1
-13.1
0.0
-63.8
Business units operating
profit before
depreciations and
Group allocations
67.6
1.9
-8.2
0.0
61.3
50.8
4.8
7.4
0.0
63.0
Depreciation, amortisation
and write-down
-0.7
-0.3
-2.6
0.0
-3.5
-1.0
-0.4
-2.4
0.0
-3.8
Impairment losses on loans
and other receivables
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.5
0.0
-0.5
Share of profits (losses)
of associates
0.0
0.0
-1.6
0.0
-1.6
0.0
0.0
-0.5
0.0
-0.5
Business units operating
profit before
Group allocations
67.0
1.6
-12.4
0.0
56.1
49.7
4.4
3.9
0.0
58.1
Allocated corporate
expenses
-13.0
-1.1
14.1
0.0
0.0
-9.9
-1.1
11.0
0.0
0.0
Operating profit
including Group allocations
54.0
0.5
1.7
0.0
56.1
39.8
3.3
15.0
0.0
58.1
Income taxes*
0.0
0.0
0.0
-11.7
-11.7
0.0
0.0
0.0
-8.2
-8.2
Segment profit/loss after
taxes
54.0
0.5
1.7
-11.7
44.5
39.8
3.3
15.0
-8.2
49.9
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\n
5.2.
Geographical revenues
2025
2024
Finland
108.9
111.6
Sweden
10.5
9.5
Other countries
9.1
5.6
Total
128.5
126.8
Segment information is reported in
accordance with the Group\u2019s
division of business and geographical
segments. The business segments consist
of business units whose products and services and earnings logic
and profitability
differ from one another.
The business risks related
to the business segments are also
different.
Evli\u2019s
operations are divided by client type and services into
two segments: the Wealth Management
and Investor Clients
segment and the Advisory and Corporate Clients
segment. Operations not included above
are classified as Group Operations.
and the business segments mentioned above make
use of these
operations.
The Wealth Management and Investor
Clients segment offers
personal asset management services to present
and future high net worth private individuals
and institutions. The product and service selection includes fund
products offered
by Evli and its
partners. and various capital market
services and alternative investment
products. The segment also includes production and implementation
activities that directly support core
activities.
The Advisory and Corporate Clients segment provides
services related to M&A transactions. including
corporate acquisitions
and divestments. and advisory services related to IPOs
and share issues. The segment
also provides corporate
analysis services for listed
companies.
The Group Operations segment
includes support functions serving the business areas. such as Information
Management. Financial Administration.
Group Marketing, Communications and Investor
Relations. Legal
Department. Human Resources and Internal
Services. The company\u2019s
own investment operations
that support
the company\u2019s
operations. and the Group\u2019s
supervisory functions; Compliance. Risk Control and Internal
Audit. are also part of Group Operations.
Inter-segment pricing occurs in arm\u2019s
length transactions at fair
value. The revenue and expenses that are
deemed as directly attributable to or can
be allocated on a reasonable basis
to a particular business area are
allocated to that business
area. The revenue and expenses
that are not allocated to a particular business
area.
and the inter-business area eliminations in
the Group. are reported under Group Operations.
The distribution
of the Group\u2019s
assets and liabilities among the business areas is not monitored on a regular
basis and is
therefore not reported
in connection with the segment reporting.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_106": { "value": "
Segment information is reported in
accordance with the Group\u2019s
division of business and geographical
segments. The business segments consist
of business units whose products and services and earnings logic
and profitability
differ from one another.
The business risks related
to the business segments are also
different.
Evli\u2019s
operations are divided by client type and services into
two segments: the Wealth Management
and Investor Clients
segment and the Advisory and Corporate Clients
segment. Operations not included above
are classified as Group Operations.
and the business segments mentioned above make
use of these
operations.
The Wealth Management and Investor
Clients segment offers
personal asset management services to present
and future high net worth private individuals
and institutions. The product and service selection includes fund
products offered
by Evli and its
partners. and various capital market
services and alternative investment
products. The segment also includes production and implementation
activities that directly support core
activities.
The Advisory and Corporate Clients segment provides
services related to M&A transactions. including
corporate acquisitions
and divestments. and advisory services related to IPOs
and share issues. The segment
also provides corporate
analysis services for listed
companies.
The Group Operations segment
includes support functions serving the business areas. such as Information
Management. Financial Administration.
Group Marketing, Communications and Investor
Relations. Legal
Department. Human Resources and Internal
Services. The company\u2019s
own investment operations
that support
the company\u2019s
operations. and the Group\u2019s
supervisory functions; Compliance. Risk Control and Internal
Audit. are also part of Group Operations.
Inter-segment pricing occurs in arm\u2019s
length transactions at fair
value. The revenue and expenses that are
deemed as directly attributable to or can
be allocated on a reasonable basis
to a particular business area are
allocated to that business
area. The revenue and expenses
that are not allocated to a particular business
area.
and the inter-business area eliminations in
the Group. are reported under Group Operations.
The distribution
of the Group\u2019s
assets and liabilities among the business areas is not monitored on a regular
basis and is
therefore not reported
in connection with the segment reporting.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_107": { "value": "
6.1.
Market risks
Market risk refers
to the possibility of loss due to fluctuations in market
prices (price risk).
The market risk
affecting Evli
can be either direct or indirect. Direct
market risk refers
to the company\u2019s
sensitivity to market changes
through its own financial assets and liabilities. In
addition to direct market risks,
Evli is indirectly
exposed to market changes,
for example when a general
market downturn reduces
the
amount of assets under management for clients
and thus the management fees linked
to them. In addition, a
sharp fall in prices tends to drive
investors
to redeem their investments,
which decreases the amount of
assets under management. In addition, advisory services tend to be less in
demand in times of market stress
.
Market risks
can be divided into equity,
interest rate
and currency risks.
Equity risks mean the sensitivity of the
company\u2019s
profitability and market
value in the balance sheet to the changes in the general
price level of the
stock market.
The company\u2019s
direct equity risks consist
of Corporate Finance operations,
temporary position
of the brokerage
business and strategic
investments. The majority
of the company\u2019s
strategic investments
are
private equity funds in which the company
has acted as either a product developer and/or
distributor.
In
addition, the company has made investments
in liquid investment funds it manages and in
individual smaller
companies. Since 2.4.2022, Evli
has also an investment in Alisa
Bank Plc which fair value changes are
recognized directly
in equity.
In principle, all investments are
valued using market quotes.
When a public
market price is
not available, the investment
portfolio and the assets of the trading book are valuated
using
theoretical valuation methods.
Instruments measured by theoretical
means were recognized
entirely through
profit or loss during the financial year,
because the maturity periods of theoretically measured agreements
are short, and the accounting parameters
used are primarily based on information from
the markets. At
the
end of the fiscal year 2025, a
10 percent change in Evli\u2019s
investment portfolio
would have corresponded to
a
EUR 4.2 million change in equity.
Interest risk
means the sensitivity of the company\u2019s profitability
or balance sheet to the changes in the general
interest rate.
Interest rate
risk arises from, among other things, the company\u2019s
investments in fixed
-income
funds. Any current or non-current
interest-bearing loans also
expose Evli to interest
rate risk. A change of 100
basis points in interest
rates would have a EUR
0.4 million effect on Evli\u2019s
equity.
\n
\n
\n
\n
\n
\n
\n
\n
Currency risk refers
to the uncertainty of cash flow and earnings caused by changes
in exchange rates.
Evli\u2019s
operative actions are mainly
denominated in euros. The Group has some cash
flow and assets in other
currencies than Euro, but this is
minor and does not expose the Group to significant
currency risk. Evli
does
not specifically monitor changes in exchange
rates with regard
to investment operations
but considers them
to be part of the change in the fair value of the investment.
The Group\u2019s
most significant currency position
was in Swedish
crowns, which the Group had at the end of the review
period for EUR 7.9 million. This
was
mainly related to Evli\u2019s
operations in Sweden. A 10 percent
change in the exchange rate
would have an effect
of EUR 0.8
million on the Group\u2019s
equity.
In solvency calculation, the Group\u2019s
market risk is measured by the positions
related to the trading book. In
accordance with minimum capital adequacy calculation,
the necessary amount of own funds is set aside
to
cover market risk.
The minimum capital requirement is
calculated for the position risk of the trading
book and
for the currency risk
of the operations as a whole. The Group\u2019s
investments classified
under the trading book
amounted to EUR 0.0 million at December 31,
2025. The minimum capital requirements for
market risk
were
accordingly EUR 0.0
million at December 31, 2025.
6.1.1. Minimum capital requirement from market risk
Original exposure
Risk-weighted
value
exposure value
Trading
book
Equity instruments
0.0
0.0
Total
0.0
0.0
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6.1.2. Assets and liabilities
in domestic and foreign currencies
Domestic
Foreign
2025
currency
currency
Total
Assets
Financial assets at amortized
cost
Cash and cash equivalents
-
-
-
Claims on credit institutions
141.6
11.3
152.8
Claims on the public and public sector
entities
9.5
0.4
9.9
Financial assets at fair
value through
profit or loss
Debt securities
2.2
-
2.2
Shares and participations
38.8
3.7
42.4
Derivative contracts
6.8
-
6.8
Other asset items
140.0
12.0
152.0
Total
338.9
27.3
366.2
Liabilities
Financial liabilities at amortized
cost
Liabilities to credit institutions
5.3
-
5.3
Liabilities to the public and public
sector entities
-
-
-
Debt securities issued to
the public
109.6
-
109.6
Financial liabilities at fair
value through profit
or loss
6.8
-
6.8
Other liabilities items
76.1
8.7
84.8
Total
197.8
8.7
206.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_108": { "value": "
6.2. Liquidity risk
Liquidity risk is the risk that Evli\u2019s
available cash and cash equivalents are
not sufficient to cover
the needs of
the business and thus jeopardizing continuity.
In terms of liquidity risk, the Group has a conservative
risk appetite. The Group\u2019s
liquidity is constantly
monitored, and it is maintained
by keeping a significant
part of the company\u2019s assets
either in bank deposits
available on demand or invested
in liquid low-risk
assets that can be quickly converted into
cash. In addition to
investments, the company\u2019s
assets are tied up in loans it has granted, against
which the company has sought
to raise longer-term financing by issuing
structured bonds. The financing from the bonds is
not fully available,
because part of the funds is committed to collateral
that Evli
places with various market counterparties
in
situations where the hedge on structured products
is loss-making. Funds are also used in settlement
due to
settlement issues and the provision of collateral
.
The Investment Firms
Regulation requires investment
services firms to hold liquid assets of at least
one third
of the capital requirement for
fixed overheads calculated
in accordance with the Regulation.
The capital
requirement calculated on
the basis of Evli\u2019s
fixed overheads is EUR 17.0
million and the liquidity requirement
calculated on this basis is EUR
5.7
million. Evli Group\u2019s
liquid assets amounted to EUR 152.8
million on
December 31, 2025.
The following table illustrates
the contractual maturity analysis
of financial liabilities.
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6.2.1 Maturities of assets and
liabilities
2025
2024
Maturity:less
Maturity:
Maturity:
Maturity:
Maturity:less
Maturity:
Maturity:
Maturity:
Total
than 3 months
3-12 months
1-5 years
over 5 years
Total
than 3 months
3-12 months
1-5 years
over 5 years
Assets
Financial assets measured at
amortized cost
-
-
-
-
-
-
-
-
-
-
Cash and cash equivalents
-
-
-
-
-
-
-
-
-
-
Receivables from
credit institutions
152.8
152.8
-
-
-
131.2
131.2
-
-
-
Receivables from
the public and public sector entities
9.9
3.8
1.0
4.9
0.3
10.7
1.9
3.0
5.9
-
Financial assets measured at
fair value through
profit or loss
Debt securities
2.2
-
-
2.2
-
3.3
-
-
3.3
-
Shares and holdings
42.4
30.4
-
-
12.0
42.0
29.7
-
-
12.4
Derivative contracts
6.8
0.6
1.2
4.9
-
7.1
1.4
0.0
6.2
-0.4
Accrued interest
0.2
0.0
0.2
-
-
0.4
0.1
0.4
-
-
Other assets
152.0
152.0
-
-
-
93.4
93.4
-
-
-
Liabilities
Financial liabilities measured
at amortized cost
Liabilities to credit institutions
5.3
5.3
-
-
-
6.0
6.0
-
-
-
Debt securities issued to
the public
109.6
2.4
-
96.0
11.3
99.6
15.8
0.5
73.6
9.7
Financial liabilities measured
at fair value through
profit or loss
6.8
0.6
1.2
4.9
-
7.1
1.4
0.0
6.2
-0.4
Accrued interest,
liabilities
-
-
-
-
-
-
-
-
-
-
Other liabilities
76.5
76.5
-
-
-
95.5
95.5
-
-
-
Off-balance
sheet commitments
3.9
0.4
-
-
3.5
3.2
0.4
0.0
0.1
2.7
Right-of-use liabilities
8.3
0.7
2.0
5.6
0.0
9.6
0.6
1.8
7.1
0.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_109": { "value": "
6.3. Credit risks
Credit risk is the risk of loss in the event that a
customer or a counterparty of an Evli
Group company fails
to
meet its obligations under a credit relationship
and any collateral
provided is insufficient
to cover the
receivable. Credit risk
also includes country and settlement risks.
Country risk is the credit risk associated with
foreign claims allocated by country.
Settlement risk is the risk of loss of the receivable
being settled,
associated with the settlement process.
Credit risks are mainly
managed through customer and counterparty-specific
limits and collateral
requirements. These, in turn,
are monitored and managed on a daily basis.
The management of settlement
risk focuses on ensuring the suitability
and reliability of counterparties. In principle,
clearing is concentrated in
reliable clearing houses. Independent members
of the executive management approves
all counterparties
with whom non- standardized
derivatives agreements
are made. The company has pledged cash
to
marketplaces and clients have
pledged their client portfolios to
Evli.
The table below shows the collateral
given and received:
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\n
\n
6.3.1. Collaterals set and received
2025
2024
Fair value of
Fair value of
of which usable
Fair value of
Fair value of
of which usable
encumbered assets
unencumbered assets
as collateral
encumbered assets
unencumbered assets
as collateral
Assets
Liquid assets and Central
Bank deposits
-
-
-
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
Claims on credit institutions
0.7
152.1
152.1
2.3
128.9
128.9
Claims on the public and public sector
entities
-
9.9
-
-
10.8
-
Debt securities
-
2.2
2.2
-
3.3
3.3
Shares and participations
-
64.5
42.4
-
66.0
42.0
Other assets
-
137.6
-
-
152.6
-
Total
0.7
366.2
196.7
2.3
361.6
174.2
6.3.2. Usage of collateral
2025
2024
Set collaterals
Markeplace collateral,
stock-
and derivatives
trades
0.1
0.1
Collateral for OTC
derivatives trades
0.7
2.1
Collateral for securities
lending
0.0
0.1
Total
0.8
2.3
Received collateral
Received cash
5.3
6.0
Received secutiries
79.3
84.2
Total
84.6
90.3
6.4. Expected credit losses
Evli calculates
the Expected Credit Loss (ECL) for
financial assets measured at amortized cost for
each
reporting date. The expected credit
loss is a probability-weighted estimate
of the credit risks
that will
materialize.
The credit risks of financial assets
are under constant scrutiny at
the company.
The company monitors various
factors, both quantitative
and qualitative,
which are estimated to be significant in evaluating
credit risk.
Estimates of future economic trends
are also taken into
account.
Credit risk is assessed through a three-phase model,
where the credit loss for
Phase 1 exposures is estimated
for the following 12
months. If the credit risk of a receivable has grown substantially
after a loan is granted,
the receivable\u2019s
risk level is raised to Phase 2, in
which case the expected credit loss
is estimated for the entire
exercise period.
In a situation where one or more factors
negatively affecting
the solvency of the counterparty
has occurred, the credit is raised
to Phase 3. A loan is recognized as non-performing
when more than 90 days
have passed without the borrower paying
interest or making repayment
or if it is estimated
that the borrower
is unlikely to perform
on its future payment obligations.
If based on all available information
it is estimated that the
credit risk has decreased substantially
after the
loan\u2019s
risk level has been raised to phase 2, and the risk
is at the same level as at the time of granting the loan,
the loan\u2019s
risk level can be returned to phase 1.
The amount of expected credit losses
(ECL) is calculated using the formula:
ECL = exposure x probability
of default (%) x total loss
when realization of collateral
is included.
The parameters are
generally measured on the Group levels,
and financial assets are classified into Groups of
assets with similar risks and collateral.
The probability of default of counterparties
is primarily measured with
statistical
data on the problem receivables in
the credit stock on the national level.
For sales receivables,
a
simplified procedure is used. The Group has no
assets in the \u2018measured at fair
value through comprehensive
income\u2019 class and the debt securities are not valued at amortized
cost. For credits
that have been transferred
to Phase 2, unique calculation parameters
are always
defined at the time of transfer.
The table to the right shows the distribution
of loans granted and the number of non-performing
credits.
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\n
6.4.1 distribution of loans
2025
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
4.8
0.3
0.0
0.0
Corporations Finland
5.1
1.8
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
9.9
1.0
0.0
0.0
2024
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
5.1
0.8
0.0
0.0
Corporations Finland
5.7
1.2
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
10.8
1.0
0.0
0.1
The table below shows the balance sheet items
broken down
into the phases 1-3:
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\n
\n
\n
6.4.2. IFRS 9, expected credit losses in stages
Opening balance 1.1.,
2025
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
152.8
152.8
-
-
-
-
Claims on the public
9.9
9.9
0.0
-
0.0
0.0
Corporates
5.1
5.1
-
-
0.0
0.0
Claims on the public, households
4.8
4.8
0.0
-
0.0
0.0
Other
-
-
-
-
-
-
Accounts receivable
2.2
2.2
0.0
-
-
-
Unused credit facilities
0.4
0.3
-
-
-
-
Total
165.3
165.3
0.0
-
0.0
0.0
Opening balance 1.1.,
2024
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
131.2
131.2
-
-
-
-
Claims on the public
10.8
10.8
0.0
-
0.0
0.0
Corporates
5.4
5.4
-
-
0.0
0.0
Claims on the public, households
5.4
5.4
0.0
-
0.0
-
Other
-
-
-
-
-
-
Accounts receivable
5.6
5.5
0.1
-
0.0
0.0
Unused credit facilities
0.5
0.5
-
-
0.0
0.0
Total
148.2
148.1
0.1
-
0.0
0.1
From January 1 to December 31, 2025,
there was no transfer
from Phase 1 to Phase 2 or transfers
from Phase 2 to Phase 3. Evli
has no loan payments overdue by 90 days.
The expected credit losses are
recognized in the profit
and loss account.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_110": { "value": "
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\n
6.3.1. Collaterals set and received
2025
2024
Fair value of
Fair value of
of which usable
Fair value of
Fair value of
of which usable
encumbered assets
unencumbered assets
as collateral
encumbered assets
unencumbered assets
as collateral
Assets
Liquid assets and Central
Bank deposits
-
-
-
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
Claims on credit institutions
0.7
152.1
152.1
2.3
128.9
128.9
Claims on the public and public sector
entities
-
9.9
-
-
10.8
-
Debt securities
-
2.2
2.2
-
3.3
3.3
Shares and participations
-
64.5
42.4
-
66.0
42.0
Other assets
-
137.6
-
-
152.6
-
Total
0.7
366.2
196.7
2.3
361.6
174.2
6.3.2. Usage of collateral
2025
2024
Set collaterals
Markeplace collateral,
stock-
and derivatives
trades
0.1
0.1
Collateral for OTC
derivatives trades
0.7
2.1
Collateral for securities
lending
0.0
0.1
Total
0.8
2.3
Received collateral
Received cash
5.3
6.0
Received secutiries
79.3
84.2
Total
84.6
90.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_111": { "value": "
6.4. Expected credit losses
Evli calculates
the Expected Credit Loss (ECL) for
financial assets measured at amortized cost for
each
reporting date. The expected credit
loss is a probability-weighted estimate
of the credit risks
that will
materialize.
The credit risks of financial assets
are under constant scrutiny at
the company.
The company monitors various
factors, both quantitative
and qualitative,
which are estimated to be significant in evaluating
credit risk.
Estimates of future economic trends
are also taken into
account.
Credit risk is assessed through a three-phase model,
where the credit loss for
Phase 1 exposures is estimated
for the following 12
months. If the credit risk of a receivable has grown substantially
after a loan is granted,
the receivable\u2019s
risk level is raised to Phase 2, in
which case the expected credit loss
is estimated for the entire
exercise period.
In a situation where one or more factors
negatively affecting
the solvency of the counterparty
has occurred, the credit is raised
to Phase 3. A loan is recognized as non-performing
when more than 90 days
have passed without the borrower paying
interest or making repayment
or if it is estimated
that the borrower
is unlikely to perform
on its future payment obligations.
If based on all available information
it is estimated that the
credit risk has decreased substantially
after the
loan\u2019s
risk level has been raised to phase 2, and the risk
is at the same level as at the time of granting the loan,
the loan\u2019s
risk level can be returned to phase 1.
The amount of expected credit losses
(ECL) is calculated using the formula:
ECL = exposure x probability
of default (%) x total loss
when realization of collateral
is included.
The parameters are
generally measured on the Group levels,
and financial assets are classified into Groups of
assets with similar risks and collateral.
The probability of default of counterparties
is primarily measured with
statistical
data on the problem receivables in
the credit stock on the national level.
For sales receivables,
a
simplified procedure is used. The Group has no
assets in the \u2018measured at fair
value through comprehensive
income\u2019 class and the debt securities are not valued at amortized
cost. For credits
that have been transferred
to Phase 2, unique calculation parameters
are always
defined at the time of transfer.
The table to the right shows the distribution
of loans granted and the number of non-performing
credits.
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6.4.1 distribution of loans
2025
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
4.8
0.3
0.0
0.0
Corporations Finland
5.1
1.8
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
9.9
1.0
0.0
0.0
2024
Loans
Average
remaining
maturity years
Overdue by at
least 90 days
Impaired loans
Exposure and home country
Private Persons
Finland
5.1
0.8
0.0
0.0
Corporations Finland
5.7
1.2
0.0
0.0
Other sectors Finland
0.0
0.0
0.0
0.0
Private persons
EU countries
0.0
0.0
0.0
0.0
Corporations EU countries
0.0
0.0
0.0
0.0
Private persons
other countries
0.0
0.0
0.0
0.0
Total
10.8
1.0
0.0
0.1
The table below shows the balance sheet items
broken down
into the phases 1-3:
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6.4.2. IFRS 9, expected credit losses in stages
Opening balance 1.1.,
2025
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
152.8
152.8
-
-
-
-
Claims on the public
9.9
9.9
0.0
-
0.0
0.0
Corporates
5.1
5.1
-
-
0.0
0.0
Claims on the public, households
4.8
4.8
0.0
-
0.0
0.0
Other
-
-
-
-
-
-
Accounts receivable
2.2
2.2
0.0
-
-
-
Unused credit facilities
0.4
0.3
-
-
-
-
Total
165.3
165.3
0.0
-
0.0
0.0
Opening balance 1.1.,
2024
Amount
Phase 1
Phase 2
Phase 3
Expected credit loss
credit loss provision
Balance sheet item
-
-
-
-
-
-
Claims on credit institutions
131.2
131.2
-
-
-
-
Claims on the public
10.8
10.8
0.0
-
0.0
0.0
Corporates
5.4
5.4
-
-
0.0
0.0
Claims on the public, households
5.4
5.4
0.0
-
0.0
-
Other
-
-
-
-
-
-
Accounts receivable
5.6
5.5
0.1
-
0.0
0.0
Unused credit facilities
0.5
0.5
-
-
0.0
0.0
Total
148.2
148.1
0.1
-
0.0
0.1
From January 1 to December 31, 2025,
there was no transfer
from Phase 1 to Phase 2 or transfers
from Phase 2 to Phase 3. Evli
has no loan payments overdue by 90 days.
The expected credit losses are
recognized in the profit
and loss account.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_112": { "value": "
6.7. Managing capital adequacy
An essential element of the regulations is
compliance with the solvency requirement set by the regulations
and the Internal Capital And Risk Assesment
(ICARA). The capital adequacy regulation is
based on the principle
that the quantity,
quality and allocation of the company\u2019s
own assets must be continuously sufficient
to cover
the material risks applied to the supervised party.
It is not possible, however,
to use capital to replace
deficiencies in the qualitative aspects of risk
bearing capacity.
Broadly speaking, risk bearing capacity includes
not only capital and profitability,
but also reliable management, well-organized
internal control
and risk
management.
As an investment services firm,
Evli complies with the EU Investment Firms
Directive (EU 2019/3034 IFD) and
the EU Investment Firms
Regulation (EU 2019/2033 IFR).
Evli\u2019s
Board of Directors has set
a minimum target
solvency requirement of 13
percent for the Group. The Group\u2019s
capital adequacy ratio was
20.1
percent on
December 31, 2025. More detailed information
on the Group\u2019s
capital adequacy and capital adequacy
management is available
in the Managing capital adequacy section of the annual report.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_113": { "value": "
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7.1.
Classification of assets and liabilities
Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2025
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
152.8
-
-
-
152.8
-
-
-
Claims on the public and public sector
entities
9.9
-
-
-
9.9
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
2.2
-
-
2.2
-
0.0
2.2
Shares and participations
-
39.0
3.5
-
42.4
30.4
-
12.0
Derivative contracts
-
6.8
-
-
6.8
-
-
6.8
Shares and participations in
associates
-
-
-
22.0
22.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.1
44.1
-
-
-
Property,
plant and equipment
-
-
-
1.0
1.0
-
-
-
Other assets
-
-
-
65.5
65.5
-
-
-
Leasing assets
-
-
-
8.3
8.3
-
-
-
Accrued income and prepayments
-
-
-
6.0
6.0
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.6
3.6
-
-
-
Total
assets
162.7
48.0
3.5
152.1
366.2
30.4
0.0
21.1
Liabilities
-
Liabilities to credit institutions
and central banks
5.3
-
-
-
5.3
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
109.6
-
-
-
109.6
-
-
-
Financial liabilities at fair
value through profit
or loss
-
6.8
-
-
6.8
-
-
6.8
Other liabilities
-
-
-
50.1
50.1
-
-
-
Accrued expenses and
deferred income
-
-
-
29.5
29.5
-
-
-
Income tax liability
-
-
-
5.2
5.2
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
114.9
6.8
-
84.8
206.5
-
-
6.8
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Financial assets
Fair value
Fair value through
measured
through profit
comprehensive
2024
at amortized cost
and loss
income
Other assets
Total
book value
Level 1
Level 2
Level 3
Assets
Cash and cash equivalents
0.0
-
-
-
0.0
-
-
-
Claims on credit institutions
131.2
-
-
-
131.2
-
-
-
Claims on the public and public sector
entities
10.8
-
-
-
10.8
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
-
-
-
-
Debt securities
-
3.3
-
-
3.3
-
0.0
3.3
Shares and participations
-
39.5
2.6
-
42.0
30.5
-
11.6
Derivative contracts
-
7.1
-
-
7.1
-
-
7.1
Shares and participations in
associates
-
-
-
24.0
24.0
-
-
-
Intangible assets and
goodwill
-
-
-
44.6
44.6
-
-
-
Property,
plant and equipment
-
-
-
1.1
1.1
-
-
-
Other assets
-
-
-
79.3
79.3
-
-
-
Leasing assets
-
-
-
9.6
9.6
-
-
-
Accrued income and prepayments
-
-
-
3.4
3.4
-
-
-
Income tax receivables
-
-
-
1.6
1.6
-
-
-
Deferred tax
assets
-
-
-
3.7
3.7
-
-
-
Total
assets
142.0
49.9
2.6
167.2
361.6
30.5
0.0
21.9
Liabilities
-
Liabilities to credit institutions
and central banks
6.0
-
-
-
6.0
-
-
-
Liabilities to the public and public
sector entities
-
-
-
-
-
-
-
-
Debt securities issued to
the public
99.4
-
-
-
99.4
-
-
-
Financial liabilities at fair
value through profit
or loss
-
7.1
-
-
7.1
-
-
7.1
Other liabilities
-
-
-
64.7
64.7
-
-
-
Accrued expenses and
deferred income
-
-
-
27.7
27.7
-
-
-
Income tax liability
-
-
-
3.0
3.0
-
-
-
Deferred tax
liabilities
-
-
-
-
-
-
-
-
Liablities total
105.5
7.1
-
95.5
208.1
-
-
7.1
Classification of assets and liabilities
The treatment of assets and liabilities is
explained in the accounting policies in section 1.4. When valuing
financial assets and liabilities, Evli classifies balance sheet items
into three levels depending on how the
valuation level is
determined. For Level 1 balance sheet items,
fair values are based on published price
quotations in active markets.
For Level 2, the values are
determined using valuation models with inputs other
than the quoted prices at Level 1 that are directly
or indirectly observable for
the asset or liability.
The fair
values of Level 3 items are
determined using valuation models
with inputs that are not directly observable for
the asset or liability.
Valuation level
1 includes quoted shares and participations, mutual funds, exchange
-traded derivatives,
and
debt securities quoted on active public and over-the-counter
markets.
Level 3 shares and participations are generally
instruments that are not
publicly quoted, such as equity and
real estate funds,
unquoted shares and warrants.
Level 2 derivatives are
forward contracts whose
valuation is
calculated using quoted market
parameters
such as interest
rates and exchange
rates. Derivatives
at level 3
are derivatives
whose valuations have been calculated
using commonly used derivative
pricing models such as
Black- Scholes, or,
in the case of OTC instrument,
obtained from a counterparty.
Valuation involves
parameters that are
not quoted on the market, such as volatility.
If the volatility used is the publicly available
historical volatility,
the change will not have a significant
impact on the fair values of level
3 options.
Valuations
of debt securities obtained from markets
that are not fully
active are assigned to valuation level
2.
Valuations
of debt securities at valuation level
3 are valuations of illiquid instruments
obtained directly from
the organizer
of the issue or calculated by Evli.
\n
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\n
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\n
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\n
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\n
\n
\n
\n
7.2. Financial instruments measured at
fair value through other comprehensive
income
Acquisition price per share as of 1 April 2022: (EUR/share)
0.59
Number of shares: (pcs)
15,288,303.00
Original acquisition, market
value
9.0
Share price as of 31 December 2024: (EUR/share)
0.17
Number of shares (pcs):
15,288,303.00
Market value as of
31 December 2024 (EUR million)
2.6
Share price as of 31 December 2025: (EUR/share)
0.23
Number of shares (pcs):
15,288,303.00
Market value as of
31 December 2025
3.50
Change in value during
the review period (EUR million)
(Market value 31 December
2025 - Market value
31 December 2024)
0.9
Deferred tax
effect of
the change in value: (EUR million)
0.2
Impact of measurement
on items of other comprehensive
income after taxes
0.7
Evli Plc was
created on April 2, 2022 as a result of a partial demerger.
As part of the overall
arrangement, Evli
made a significant investment
in Alisa Bank Plc, the other entity created in the arrangement.
The investment is
of a long-term nature and is not related
to the group\u2019s
operating activities. For
these reasons, the company
presents the effect
of the valuation of the investment
as a separate item in the statement
of comprehensive
income in accordance with IFRS
9. The table above illustrates
the impact of the revaluation on the group\u2019s
statement of comprehensive
income for the period. The shares
are included in the item \u2018other shares
level 1.
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\n
7.3. Analysis of financial instruments
categorized in level 3
2025
2024
Financial assets:
Shares and participations classified
as held for trading
-
-
Unlisted shares
and participations
-
1.7
Venture
capital funds and real estate
funds
12.0
9.8
Debt securities
2.2
3.3
Quoted equity derivatives
-
-
OTC equity derivatives
6.8
7.1
Total
financial assets held at
fair value
21.1
21.9
Financial liabilities:
Shares and participations classified
as held for trading
-
-
Quoted equity derivatives
-
-
OTC equity derivatives
6.8
7.1
Total
financial liabilities held
at fair value
6.8
7.1
Changes in level 3 instruments
Private equity
OTC
OTC
Unlisted
and real
Debt
derivatives -
derivatives -
2025
shares
estate funds
securities
assets
liabilities
At the beginning of period 1.1
0.0
11.6*
3.3
7.1
7.1
Purchased
1.9
2.8
Sold
0.0
-0.2
-4.3
Fair value change
-profit and loss statement
0.0
-1.2
0.0
-0.3
-0.3
Total
at end 31.12
0.0
12.0
2.2
6.8
6.8
*Unlisted shares and participations have been reclassified
under private equity and real estate funds, as these
investments are, by
their nature, similar to private equity and real estate fund investments.
Private equity
OTC
OTC
Unlisted
and real
Debt
derivatives -
derivatives -
2024
shares
estate funds
securities
assets
liabilities
At the beginning of period 1.1
2.2
10.8
2.0
5.9
6.0
Purchased
1.0
1.5
Sold
-0.4
0.0
-0.2
Fair value change
-profit and loss statement
-0.1
-1.9
0.0
1.2
1.1
Total
at end 31.12
1.7
9.9
3.3
7.1
7.1
Total
unrealized profit is
recorded in net income from securities
transactions.
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\n
7.4. Fair values and book values of financial
assets and financial
liabilities
2025
2024
Book value
Fair Value
Book value
Fair Value
Financial assets
Liquid assets
-
-
-
-
Debt securities eligible for
refinancing with central
banks
-
-
-
-
Claims on credit institutions
152.8
152.8
131.2
131.2
Claims on the public and public sector
entities
9.9
9.9
10.8
10.8
Debt securities
2.2
2.2
3.3
3.3
Shares and participations
42.4
42.4
42.0
42.0
Derivative contracts
6.8
6.8
7.1
7.1
Financial liabilities
Liabilities to credit institutions
and central banks
5.3
5.3
6.0
6.0
Liabilities to the public and public
sector entities
-
-
-
-
Debt securities issued to
the public
109.6
114.8
99.4
98.5
Derivative contracts
and other liabilities held
for trading
6.8
6.8
7.1
7.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_114": { "value": "
8. Consolidation and related
party
Consolidation principles
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
\n
\n
\n
\n
The consolidated financial statements
include the parent company Evli
Plc and the following subsidiaries
and
associates:
Company
Country
Ownership
Evli Oyj
Finland
100%
Terra
Nova Capital Advisors
UAE
51%
Evli Research Partners
Oy (ECF tyt\u00e4ryritys)
Finland
70%
Evli Investment
Solutions Oy
Finland
85%
Evli Life Oy
Finland
100%
Evli Fund Management
Company Ltd
Finland
100%
Evli AB
Sweden
83%
EAI Residential Partners
Oy
Finland
75%
Evli Private
Equity Partners Oy
(\"EPEP\")
Finland
80%
Evli Private
Equity I GP Oy (EPEP
tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity II GP Oy (EPEP tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity III GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
Evli Private
Equity IV GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
EAI Feeder GP Oy
Finland
100%
Evli HC I GP Oy
Finland
82%
EGP General Partner
Oy
Finland
70%
EGP General Partner
II Oy
Finland
70%
Evli Infrastructure
Partners
Oy (\"EIP\")
Finland
82%
Evli Infrastructure
I GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Infrastructure
II GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Impact Forest
I GP Oy
Finland
85%
Evli Impact Forest
II GP Oy
Finland
100%
Evli Private
Debt I GP Oy
Finland
85%
Evli Residential
II GP Oy
Finland
70%
EAB Private
Equity Oy (\"EAB PE\")
Finland
65%
Project First GP
Oy (EAB PE tyt\u00e4ryritys)
Finland
65%
Project Second GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Third GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Fourth GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p2i0\"\n
Company
Country
Ownership
EFVAF II GP Oy
Suomi
100%
EFVAF III GP Oy
Suomi
100%
EFVAF IV GP Oy
Suomi
100%
EAB RE Infra II GP Oy
Suomi
100%
EAB P\u00e4\u00e4omarahastot
I GP Oy
Suomi
100%
EAB Credit Fund I GP Oy
Suomi
100%
Elite \u00c4lyenergia Oy
Suomi
100%
Elite Intian Aurinko
Oy
Suomi
100%
Elite Kiinteist\u00f6kehitys
Oy
Suomi
100%
Elite Sijoitus Oy
Suomi
100%
EAB Palvelu Oy
Suomi
100%
Elite Vakuutuspalvelu
Oy
Suomi
100%
Evli Private
Debt II GP Oy
Suomi
85%
Evli Private
Debt III GP Oy
Suomi
85%
Evli Private Capital
Oy
Suomi
73%
Evli Private Capital
I GP Oy (Evli Private
Capital Oy tyt\u00e4ryritys)
Suomi
73%
Zenito Oy
Suomi
66.6%
Evli Private Equity Co-Investment I GP Oy
Suomi
82%
Evli Infrastructure
III GP Oy
Suomi
82%
Northern Horizon A/S
Tanska
41%
Ahti Invest Oy
Suomi
30%
SAV Rahoitus Oy
Suomi
46%
Allshares Oy
Suomi
39%
8.1.
Corporate structure
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\n
8.4. Holdings in consolidated associated companies
2025
2024
2025
2024
2025
2024
2025
Northern
Northern
SAV-
SAV-
Horizon
Horizon
Ahti
Ahti
Rahoitus
Rahoitus
Company name
A/S
A/S
Invest Oy
Invest Oy
Oyj
Oyj
Allshares Oy
Registered
office
Denmark
Denmark
Finland
Finland
Finland
Finland
Finland
Assets
11.0
8.3
29.6
Liabilities
6.5
4.0
6.3
Revenue
7.3
6.4
20.0
Profit (loss) for
the financial period
0.1
Ownership (%)
41.0
47.0
30.0
30.0
46.3
46.3
39.3
Balance sheet value in the
Group
3.0
3.0
1.0
1.0
0.0
0.2
18.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_115": { "value": "
8. Consolidation and related
party
Consolidation principles
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
\n
\n
\n
\n
The consolidated financial statements
include the parent company Evli
Plc and the following subsidiaries
and
associates:
Company
Country
Ownership
Evli Oyj
Finland
100%
Terra
Nova Capital Advisors
UAE
51%
Evli Research Partners
Oy (ECF tyt\u00e4ryritys)
Finland
70%
Evli Investment
Solutions Oy
Finland
85%
Evli Life Oy
Finland
100%
Evli Fund Management
Company Ltd
Finland
100%
Evli AB
Sweden
83%
EAI Residential Partners
Oy
Finland
75%
Evli Private
Equity Partners Oy
(\"EPEP\")
Finland
80%
Evli Private
Equity I GP Oy (EPEP
tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity II GP Oy (EPEP tyt\u00e4ryritys)
Finland
80%
Evli Private
Equity III GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
Evli Private
Equity IV GP Oy (EPEP tyt\u00e4ryritys)
Finland
74%
EAI Feeder GP Oy
Finland
100%
Evli HC I GP Oy
Finland
82%
EGP General Partner
Oy
Finland
70%
EGP General Partner
II Oy
Finland
70%
Evli Infrastructure
Partners
Oy (\"EIP\")
Finland
82%
Evli Infrastructure
I GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Infrastructure
II GP Oy (EIP tyt\u00e4ryritys)
Finland
82%
Evli Impact Forest
I GP Oy
Finland
85%
Evli Impact Forest
II GP Oy
Finland
100%
Evli Private
Debt I GP Oy
Finland
85%
Evli Residential
II GP Oy
Finland
70%
EAB Private
Equity Oy (\"EAB PE\")
Finland
65%
Project First GP
Oy (EAB PE tyt\u00e4ryritys)
Finland
65%
Project Second GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Third GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
Project Fourth GP Oy
(EAB PE tyt\u00e4ryritys)
Finland
65%
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\"doc1p2i0\"\n
Company
Country
Ownership
EFVAF II GP Oy
Suomi
100%
EFVAF III GP Oy
Suomi
100%
EFVAF IV GP Oy
Suomi
100%
EAB RE Infra II GP Oy
Suomi
100%
EAB P\u00e4\u00e4omarahastot
I GP Oy
Suomi
100%
EAB Credit Fund I GP Oy
Suomi
100%
Elite \u00c4lyenergia Oy
Suomi
100%
Elite Intian Aurinko
Oy
Suomi
100%
Elite Kiinteist\u00f6kehitys
Oy
Suomi
100%
Elite Sijoitus Oy
Suomi
100%
EAB Palvelu Oy
Suomi
100%
Elite Vakuutuspalvelu
Oy
Suomi
100%
Evli Private
Debt II GP Oy
Suomi
85%
Evli Private
Debt III GP Oy
Suomi
85%
Evli Private Capital
Oy
Suomi
73%
Evli Private Capital
I GP Oy (Evli Private
Capital Oy tyt\u00e4ryritys)
Suomi
73%
Zenito Oy
Suomi
66.6%
Evli Private Equity Co-Investment I GP Oy
Suomi
82%
Evli Infrastructure
III GP Oy
Suomi
82%
Northern Horizon A/S
Tanska
41%
Ahti Invest Oy
Suomi
30%
SAV Rahoitus Oy
Suomi
46%
Allshares Oy
Suomi
39%
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_116": { "value": "
The consolidated financial statements
comprise the financial statements
of Evli Plc and all its subsidiaries in
which the parent company has control.
The Group controls an entity when the Group
is exposed to, or has
rights to, variable
returns from its involvement
with the entity and has the ability to affect
those returns
through its power over the entity.
Subsidiaries are consolidated from the
date on which control is
transferred
to the Group. They are deconsolidated
from the date that control
ceases.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_117": { "value": "
The consolidated financial statements
also encompass those associates in which the parent company
directly
or indirectly owns 20\u201350 percent of the shares
with voting rights or in which it otherwise exercises
significant
influence but not control. Associates
are consolidated using the equity method. The Group\u2019s
share of
associates\u2019 profit is
presented separately
in the income statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_118": { "value": "
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_119": { "value": "
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
\n
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\n
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\n
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\n
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\n
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\n
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\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
8.2. Financial success in
companies with non-controlling owners
2025
Assets
Liabilities
Revenue
Profit/Loss for
financial year
Dividends paid to
non-controlling interest
NCI of equity
Terra
Nova Capital
Advisors Ltd
1.4
0.8
9.1
7.7
4.1
0.3
Evli Research Partners
Ltd
0.2
0.1
0.4
-0.0
0.0
0.0
Evli Investment
Solutions Oy
0.6
0.2
2.0
1.3
0.2
0.1
EAI Residential
Partners Oy
0.8
0.1
1.6
0.6
0.1
0.2
Evli Residential
II GP Oy
0.4
0.1
0.5
0.3
0.1
0.1
Evli Private
Equity Co-Investment
I GP Oy
0.5
0.2
0.4
0.3
0.0
0.1
Evli HC I GP Oy
0.7
0.4
1.5
0.0
0.0
0.1
EGP General Partner
Oy
0.3
0.0
0.8
0.2
0.1
0.1
EGP General
Partner II Oy
0.9
0.0
1.5
0.8
0.3
0.3
Evli Infrastructure
III GP Oy
0.4
0.1
0.4
0.3
0.0
0.1
Evli Impact Forest
I GP Oy
0.1
0.1
0.7
-0.0
0.0
0.0
Evli Private
Debt I Gp Oy
0.8
0.1
0.7
0.5
0.0
0.1
Evli Private
Debt II GP Oy
0.3
0.1
0.3
0.1
0.0
0.0
Evli Private
Debt III GP Oy
0.1
0.0
0.0
-0.0
0.0
0.0
Evli Infrastructure
Partners Oy
0.1
0.0
1.6
1.6
0.3
0.3
Evli Private
Equity Partners
Oy
1.1
0.0
3.2
2.5
0.6
1.0
Evli Private
Equity III GP Oy
1.3
0.1
1.4
1.1
0.1
0.1
Evli Private
Equity IV GP Oy
1.6
0.5
1.5
1.2
0.0
0.1
Evli Private
Capital Oy
0.0
0.0
0.0
-0.0
0.0
0.2
EAB Private Equity
Oy
1.0
0.0
0.8
0.6
0.1
0.4
Evli AB
7.5
3.7
10.6
3.3
0.5
0.6
Zenito Oy
4.7
0.8
5.0
3.5
0.2
1.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_120": { "value": "
The Group\u2019s
internal shareholdings are eliminated
using the acquisition method of accounting. The assets,
liabilities, contingent assets and contingent
liabilities of a company acquired according
to the acquisition
method ddeare assessed at fair
value at the time of acquisition. Intangible assets,
such as trademarks, patents
or client relationships,
that are not included in the acquired company\u2019s
balance sheet are identified and
assessed in connection with the acquisition. Goodwill is
recognized for the amount by which the transferred
consideration, the share of non-controlling
interests of the target
of acquisition and the previously held share
of the target of acquisition exceed
the Group\u2019s
share of the fair
value of acquired net assets and liabilities.
All intra-group transactions,
receivables, liabilities, unrealized gains
and internal distribution of profits
are
eliminated in preparing the consolidated financial
statements.
Unrealized losses are
not eliminated if the loss
is due to impairment of an asset. The profit
for the period attributable to
the parent company\u2019s
equity holders
and non-controlling interests
is presented in the income statement.
The non-controlling interests\u2019
share of
equity is presented separately
in the balance sheet within equity.
Comprehensive income is allocated
to the
parent company\u2019s
owners and to non-controlling
interests even if this
would lead to the non-controlling
interests\u2019
share becoming negative, unless
the non-controlling interests
have an exemption not to meet
obligations which exceed the
non-controlling interests\u2019
investment in the company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_121": { "value": "
8.3. Changes in corporate structure
Other changes
During the period, four new companies were
established: Evli
Infrastructure III GP
Oy (Group ownership 82%),
Evli Private
Equity Co-Investment I GP
Oy (Group ownership 82%), Evli
Private Debt III GP Oy (Group
ownership 85%), and EFVAF
IV GP Oy (Group ownership 100%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_122": { "value": "
\n
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\n
\n
8.5. Related party disclosures
2025
2024
Board
Board fees
0.4
0.4
CEO
Salary and short term benefits
0.5
0.5
Pension benefits
0.1
0.1
Deferred compensation
0.5
0.4
Other executive
Group members
1.1
1.0
Other executive
Group members
Salary and short term benefits
1.2
1.2
Pension benefits
-
-
Deferred compensation
0.8
0.5
Total
2.0
1.7
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
\n
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\n
\n
\n
\n
8.6. Transactions
with related parties
Associated
Group
companies
management
2025
Sales
0.8
0.0
Purchases
1.4
0.0
Receivables
0.0
0.0
Liabilities
0.0
0.0
2024
Sales
1.6
0.0
Purchases
1.1
0.0
Receivables
1.0
0.0
Liabilities
0.3
0.0
Evli Plc\u2019s
(\u201cEvli\u201d) related parties include the associated companies
Allshares Ltd,
Northern Horizon A/S, SAV-
Rahoitus Oyj and Ahti Invest
Oy.
Related parties also include key
management personnel, their
close family
members and companies controlled
by these persons. The parent company
of the group has granted its
subsidiaries internal, interest
-free group loans to meet the daily
operational needs and requirements of their
business.
Transactions
between management and the company
are typical of transactions
between an investment
services firm and a client. The company\u2019s
receivables from management relate
to any investment
loans
granted to management
on market terms.
There are no loan arrangements between the
company and
management that differ
from other Evli customers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_123": { "value": "
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
8.5. Related party disclosures
2025
2024
Board
Board fees
0.4
0.4
CEO
Salary and short term benefits
0.5
0.5
Pension benefits
0.1
0.1
Deferred compensation
0.5
0.4
Other executive
Group members
1.1
1.0
Other executive
Group members
Salary and short term benefits
1.2
1.2
Pension benefits
-
-
Deferred compensation
0.8
0.5
Total
2.0
1.7
The amounts shown in the table above correspond
to the expenditure recognized
as expenses in the financial
periods concerned. Salary amounts include any fringe benefits.
Share-based payments include share-based
incentive programs awards
amortized over the financial period.
Some of the awards are deferred
and their
final value will be determined at a later
date when the fees are
confirmed and paid.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
8.6. Transactions
with related parties
Associated
Group
companies
management
2025
Sales
0.8
0.0
Purchases
1.4
0.0
Receivables
0.0
0.0
Liabilities
0.0
0.0
2024
Sales
1.6
0.0
Purchases
1.1
0.0
Receivables
1.0
0.0
Liabilities
0.3
0.0
Evli Plc\u2019s
(\u201cEvli\u201d) related parties include the associated companies
Allshares Ltd,
Northern Horizon A/S, SAV-
Rahoitus Oyj and Ahti Invest
Oy.
Related parties also include key
management personnel, their
close family
members and companies controlled
by these persons. The parent company
of the group has granted its
subsidiaries internal, interest
-free group loans to meet the daily
operational needs and requirements of their
business.
Transactions
between management and the company
are typical of transactions
between an investment
services firm and a client. The company\u2019s
receivables from management relate
to any investment
loans
granted to management
on market terms.
There are no loan arrangements between the
company and
management that differ
from other Evli customers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_124": { "value": "
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
8.7. Fees paid to auditors
Group
2025
2024
Audit
Ernst & Young
Oy
0.4
0.4
Engagements
referred to
in Section 1(1)(2) of the Finnish Auditing
Act
Ernst & Young
Oy
0.0
0.0
Tax advisory
Ernst & Young
Oy
0.0
0.0
Other services
Ernst & Young
Oy
0.0
0.0
Total
0.4
0.4
Parent company
2025
2024
Audit
Ernst & Young
Oy
0.2
0.1
Engagements
referred to
in Section 1(1)(2) of the Finnish Auditing
Act
Ernst & Young
Oy
0.0
0.0
Tax advisory
Ernst & Young
Oy
0.0
0.0
Other services
Ernst & Young
Oy
0.0
0.0
Total
0.2
0.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_125": { "value": "Evli Plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_126": { "value": "Helsinki", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_127": { "value": "Public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_128": { "value": "Finland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_129": { "value": "Aleksanterinkatu 19, 00100 Helsinki", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_130": { "value": "Helsinki", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_131": { "value": "Evli Plc is Evli Group\u2019s (\u201cEvli\u201d) parent company, which is listed on the Nasdaq Helsinki stock exchange. Evli is Finland\u2019s leading asset manager, serving institu- tional, corporate and private clients. Its services in- clude mutual funds, asset management and capital markets services, alternative investment products, corporate analysis and M&A services.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_132": { "value": "Evli Plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_133": { "value": "Evli Plc", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:984500F4CCF3AD74F766", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }