Sampos strategic targets have been met when Mandatum was spun off. CFO Knut Arne Alsaker reflects on strategy period and Q3 performance on inderesTV interview.
Sampo’s Q3 report was well ahead of market expectations figure-wise, but under the hood the operational numbers were broadly in line with expectations as the earnings beat came mainly from investments. We have kept our estimates practically unchanged, and we expect Sampo to deliver stable earnings growth. In our view, the stock is correctly priced on several metrics, and we no longer see the risk/return ratio as sufficient.
Sampo’s Q4’23 development continued on its familiar excellent trajectory. Sampo’s Chief Financial Officer Knut Arne Alsaker commented on the results and why Sampo doesn’t take more investment risk.
Här är en högkvalitativ analys av detta mycket intressanta företag
Investment returns boosted Sampo’s results above expectations, offsetting the impact of the challenging weather conditions in the quarter on the insurance result. However, forecast changes for the coming years have remained quite moderate following the quarterly report and we continue to expect stable earnings growth from Sampo.
Att Sampo sneglat på Topdanmark mer än länge är, som @Kasper_Mellas uttrycker det en “publicly known secret”… Att väljer att ta “steget ut”, dvs till next level och ett 100% igt ägandeskap är ingen slump.
Det var intressant att höra att If kan göra sjukförsäkringar till en lönsam affär. Många konkurrenter har indikerat att de inte är lönsamma. Jag fick inte helt klart för mig, men kanske är det den stora storleken som gör det möjligt.
Det är bättre att lyckas med Topdanmarks synergier, annars blir affären dyr! Men, Sampo har alltid levererat vad de lovat.
Here is what I believe to be the best possible Sampo stock analysis, in the style of an Inderes analyst.
Sampo exceeded expectations with its Q2 results, mainly due to investment income, while the profitability of its insurance operations remained strong. In the interim report, it was stated that If P&C’s investment income significantly exceeded forecasts, which was the main reason for the earnings beat.
In the Nordic countries, insurance profitability remained excellent despite being impacted by large claims. Forecast changes remained moderate, but Sampo raised its annual forecast by 4% due to higher-than-expected investment income.
Inderes considers the risk/reward ratio to be neutral, thus maintaining the reduce recommendation and raising the target price to EUR 41
If you’re interested in Sampo as an investment, make sure to click and check these out.
In connection with Sampo’s exchange offers to Topdanmark shareholders, and ahead of the expected expiration of the offer period on the 9th of September, we hosted a Q&A session with Sampo’s Head of Investor Relations, Sami Taipalus.
The purpose of the event was to provide investors with a better understanding of the deal and to answer some of the most frequently asked questions about the transactions.