The recovery that started in the spring continued until the end of the third quarter. Net subscriptions to Evli's funds grew and fund capital increased from the level at the end of June. Evli's operating profit improved, which was a result of an increase in revenue and a reduction in costs.
STRONG THIRD QUARTER
Financial performance January-September 2020
Financial performance July-September 2020
We estimate that the operating profit for 2020 will be clearly positive.
The view is supported by a high ratio of recurring revenue to operating costs, as well as sales of alternative investment products, which have brought new, stable revenue.
Previously we stated that, in the current market environment, we estimate that the operating profit for 2020 will be clearly positive. In a situation where market conditions would deteriorate from the current situation, we estimate the operating profit to be positive.