Aktia published a weaker-than-expected Q1 report. This was due to the income side, with the net interest income in particular falling slightly faster than expected. We still consider Aktia’s valuation attractive and see the dividend yield combined with the upside in valuation multiples providing investors with a good expected return.

Aktia published its lower-than-expected Q1 report this morning. This was due to the income side, with the net interest income in particular falling slightly faster than expected. However, there is no big drama associated with this, as the direction is known to be downward. Asset management sales, on the other hand, were a clear disappointment, with net subscriptions remaining well in the red. As expected, the company did not adjust guidance and still expects comparable EBIT to be lower than last year.