Finland · Delayed Price · Currency is EUR Sampo Oyj Earnings Call Transcripts
Fiscal Year 2026
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Strong Q2 and H1 results featured robust top-line and underwriting growth, improved cost efficiency, and a rebound in investment returns. Upgraded full-year guidance reflects durable performance, digitalization gains, and stable solvency.
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Strong operational momentum in Q1 2026 drove 8% insurance revenue growth and a 9% increase in underwriting results, with robust balance sheet and solvency. Full-year guidance was raised, a EUR 350 million buyback was announced, and integration synergies accelerated, while inflation and legal risks remain closely managed.
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FY2025 delivered 8% revenue growth and 13% underwriting-result growth, with operating EPS up 7%. The proposed EUR 0.36 dividend accompanies a revised policy combining progressive dividends with buybacks.
Fiscal Year 2025
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Strong 2025 results featured 8% growth, robust underwriting profit, and a 6% dividend increase. 2026 guidance anticipates 5–8% insurance revenue growth, with continued focus on cost efficiency and disciplined capital returns through a more flexible dividend and buyback policy.
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Strong organic growth and margin improvement in Nordics and UK drove a 17% rise in underwriting profit and 14% increase in operating EPS. Nova Bank IPO delivered a EUR 355 million gain, with proceeds to be returned via share buybacks. Severe weather claims prompt cautious full-year outlook.
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Strong Q3 results with 17% YTD underwriting profit growth and 14% higher operating EPS, driven by broad-based premium growth and solid margins. Upgraded operating EPS target to above 9% for 2024–2026, announced a EUR 150 million share buyback, and delivered early Topdanmark synergies.
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Q2 saw strong organic growth, margin improvement, and a 16% year-over-year EPS increase, with upgraded guidance and a new EUR 200 million share buyback. High retention, digitalization, and disciplined pricing drove performance, while favorable weather and investment income provided additional upside.
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Q2 saw 21% growth in underwriting profits and 16% EPS growth, with strong premium increases and high retention across segments. The group raised its 2025 outlook, completed Industrial de-risking, and launched a EUR 200 million buyback, while maintaining robust solvency and cost discipline.
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Strong Q1 growth in Nordics and U.K. led to raised full-year revenue and underwriting outlooks. Topdanmark integration delivered higher cost synergies, digital sales surged, and retention improved, with favorable market conditions supporting continued momentum.
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FY2024 brought 12% insurance revenue growth, 13% operating EPS growth and a 84.3% combined ratio. Topdanmark integration is underway, with 2028 synergies targeted; a EUR 0.34 dividend was proposed and FY2025 guidance points to further growth.
Fiscal Year 2024
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Group delivered 12% growth in 2024, with strong underwriting profits and stable combined ratios. Dividend rises 10% to EUR 1.70 per share, with buybacks planned. Outlook targets EUR 8.7–9bn revenue and EUR 1.35–1.45bn underwriting result.
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Underwriting profits rose 8% year-over-year, with strong growth in both Nordic and UK segments. Topdanmark integration is on track, and Hastings delivered doubled pre-tax profits and robust margins. Dividend policy remains focused on regular growth and potential buybacks.
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Announced bid for remaining Topdanmark shares, with all approvals secured and strong Q2 results. Premium growth was robust across segments, especially in the UK, and claims inflation is moderating but remains a key focus. Financial leverage is stable and capital allocation is disciplined.
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The acquisition aims to fully combine two converging non-life insurers, leveraging operational synergies of EUR 95 million annually, mainly from IT and process integration. The share-based offer provides a 27% premium, with most synergies realized by 2027 and full benefits by 2028.