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Sampo

39.66

 

EUR

 

-0.33 %

SAMPO

NASDAQ Helsinki

Financial Services

Financials

26,689 following
-0.33%
-0.25%
-5.46%
-2.6%
-1.56%
+0.13%
+1.69%
-0.26%
+17.35%
+1,232.15%
www.sampo.com/investors

Sampo Group is a Nordic property and casualty insurer operating also in the UK and in the Baltics. In the Nordics, Sampo provides insurance services across all countries, customer segments and products. In the UK, the company offers motor and home insurance for private individuals. The Group is made up of If P&C, Topdanmark, Hastings, and the parent company Sampo plc. Sampo was founded in 1909 and it is headquartered in Helsinki, Finland.

P/E (adj.) (24e)
15.72
EV/EBIT (adj.) (24e)
12.31
P/B (24e)
2.79
Dividend yield-% (24e)
5.04 %
Target price
42.00 EUR
Recommendation
Reduce
Updated
6.11.2024
NASDAQ Helsinki
SAMPO
Daily low / high price
39.54 / 39.97 EUR
Market cap
21.81B EUR
Turnover
2.52M EUR
Volume
64K
Business risk
Valuation risk
Current
Previous

Latest research

Sampo Q3'24: Streak of strong quarters continues
2024-11-07
Sampo Q2'24: Insurance pays off
2024-08-08
Sampo: The stalemate is finally resolved
2024-06-18

Extensive report

Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the report

Analyst

Kasper Mellas
Kasper Mellas
Analyst

Latest videos

Conference call on Q3/2024 Interim Statement
2024-11-06
Sampo – Q&A with Head of Investor Relations Sami Taipalus Q3 2024
2024-11-06
Sampo Group - Video review on Q3/2024 results
2024-11-06

Financial calendar

Annual report
2025-02-06
General meeting
2025-04-23
Interim report
2025-05-07
Interim report
2025-08-06
Interim report
2025-11-05

Major Owners
Source: Millistream Market Data AB

OwnerCapitalVotes
Solidium Oy6.1 %6.1 %
Varma Mutual Pension Insurance Company4.1 %4.1 %
Sampo plc1.8 %1.8 %
Ilmarinen Mutual Pension Insurance Company1.3 %1.3 %
Elo Mutual Pension Insurance Company0.8 %0.8 %
Oy Lival AB0.7 %0.7 %
The State Pension Fund0.5 %0.5 %
OP Life Assurance Company Ltd0.3 %0.3 %
Svenska litteratursällskapet i Finland r.f.0.3 %0.3 %
Nordea Nordic Fund0.2 %0.2 %

Insider Transactions

InsiderDateTotal value
Ricard Wennerklint2024-11-07811,800EUR
Ricard Wennerklint2024-11-07249,982EUR
Ricard Wennerklint2024-11-07758,200EUR
Ricard Wennerklint2024-11-07811,800EUR
Ricard Wennerklint2024-11-07249,982EUR
Ricard Wennerklint2024-11-07758,200EUR
Torbjörn Magnusson2023-08-18359,003EUR
Björn Wahlroos2022-11-0427,600,000EUR
Torbjörn Magnusson2022-08-12586,583EUR
Björn Wahlroos2022-05-1611,542,175EUR

Forum updates

Stay up-to-date with the latest talk about Sampo
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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 Inderes Sampo Q2'24: Insurance pays off - Inderes Sampo's result was well above expectations due to investment income. Profitability in the insurance businesses remained strong and changes in forecasts for the coming years were relatively moderate.
börsen84
8/8/2024, 6:49 PM💙 2
Tack att du delade videon! 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.
Verneri Pulkkinen
8/8/2024, 5:24 AM💙 2
Verneri Pulkkinen intervjuade Sampos CFO efter Q2-resultatet. Inderes Sampo Q2'24: Topdanmark in Focus - Inderes Time: 2024-08-07 14:02 Sampo continued its steady performance. The most significant recent news is the acquisition of Topdanmark. Sampo's CFO Knut Arne Alsaker commented on Topdanmark, the profitability of Hastings, and the profitability of health... 00:00 Q2 development 01:05 Premium growth 02:20 Investment returns 04:05 Personal insurance profitability 08:00 Hastings profitability 10:37 Topdanmark 13:25 Synergies
börsen84
8/7/2024, 3:27 PM💙 2
Här är en ny analys av bolaget, läs den om du är intresserad av bolaget som en investering. Inderes analyser är verkligen av hög kvalitet. Inderes Sampo: The stalemate is finally resolved - Inderes Sampo announced on Monday that it has signed the long-awaited merger agreement with Topdanmark, which will increase its holding in the company to 100% from the previous 48.9%. In practice, Sampo acquires Topdanmark and merges its P&C insurance...
börsen84
6/18/2024, 3:21 PM💙 2
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. Inderes Sampo – Recording of Q&A session with Head of Investor Relations Sami... 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.
börsen84
9/2/2024, 9:35 PM💙 1
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. Här några snabbkommentarer på ämnet:
Isa Hudd
6/20/2024, 12:34 PM💙 1
BREAKING NEWS! Sampo offentliggör ett rekommenderat bästa och slutligt offentligt utbyteserbjudande till aktieägarna i Topdanmark Inderes Sampo offentliggör ett rekommenderat bästa och slutligt offentligt... SAMPO ABP PRESSMEDDELANDE 17 juni 2024 kl. 8.45 EJ FÖR OFFENTLIGGÖRANDE, PUBLICERING ELLER SPRIDNING, I HELHET ELLER DELVIS, DIREKT ELLER INDIREKT, I ELLER TILL AUSTRALIEN, HONG KONG, JAPAN,... Sampo erbjuder svar på frågor angående anbudserbjudandet för Topdanmark. Inderes Recommended public exchange offer to the shareholders of Topdanmark – Q&A... On 17 June 2024, Sampo and Topdanmark entered into a combination agreement. In this IR blog entry, Sampo address questions shareholders might ask regarding the offer at this point.
börsen84
6/17/2024, 10:37 AM💙 1

Income statement

20202021202220232024e2025e2026e2027e
Revenue8,412.09,746.07,267.07,535.08,364.98,919.59,316.39,667.3
growth-%-3.8 %15.9 %-25.4 %3.7 %11.0 %6.6 %4.4 %3.8 %
EBITDA380.03,172.01,924.01,480.81,738.61,686.41,728.61,842.2
EBIT (adj.)1,541.02,190.01,786.01,480.81,813.61,761.41,728.61,842.2
EBIT380.03,172.01,924.01,480.81,738.61,686.41,728.61,842.2
Profit before taxes380.03,172.01,924.01,480.81,738.61,686.41,728.61,842.2
Net income38.02,568.02,107.01,322.81,283.91,315.41,348.31,436.9
EPS (adj.)2.152.863.712.602.522.582.562.73
growth-%6.1 %32.8 %29.8 %-29.9 %-3.1 %2.3 %-0.8 %6.6 %
Dividend1.704.092.601.802.002.102.102.20
Dividend ratio2,484.5 %87.3 %63.5 %68.3 %83.9 %85.9 %81.9 %80.5 %

Profitability and return on capital

20202021202220232024e2025e2026e2027e
EBITDA-%4.5 %32.5 %26.5 %19.7 %20.8 %18.9 %18.6 %19.1 %
EBIT-% (adj.)18.3 %22.5 %24.6 %19.7 %21.7 %19.7 %18.6 %19.1 %
EBIT-%4.5 %32.5 %26.5 %19.7 %20.8 %18.9 %18.6 %19.1 %
ROE0.3 %21.2 %18.8 %15.7 %17.2 %16.9 %16.9 %17.4 %
ROI2.2 %18.1 %12.4 %12.4 %16.0 %14.9 %15.0 %15.6 %

Valuation

20202021202220232024e2025e2026e2027e
Share price (EUR)35.2844.0948.8239.6139.6639.6639.6639.66
Shares556.6548.0514.5502.0538.5538.5526.3526.3
Market cap19,635.224,161.825,117.819,884.121,356.521,356.520,872.920,872.9
Enterprise value22,040.223,688.825,892.821,383.122,322.122,259.921,695.521,489.1
EV/S2.62.43.62.82.72.52.32.2
EV/EBITDA58.07.513.514.412.813.212.611.7
EV/EBIT (adj.)14.310.814.514.412.312.612.611.7
EV/EBIT58.07.513.514.412.813.212.611.7
P/E (adj.)16.415.413.115.215.715.415.514.5
P/E516.79.512.315.216.616.215.514.5
P/B1.71.92.62.72.82.72.62.5
P/S2.32.53.52.62.62.42.22.2
Dividend yield4.8 %9.3 %5.3 %4.5 %5.0 %5.3 %5.3 %5.6 %
Equity ratio21.7 %22.1 %26.0 %31.7 %32.6 %33.1 %33.7 %34.7 %
Gearing ratio19.6 %-3.5 %7.6 %19.5 %12.0 %10.9 %9.7 %7.0 %

Quarter data

Q4/232023Q1/24Q2/24Q3/24Q4/24e2024eQ1/25eQ2/25e
Revenue2,035.07,535.02,020.02,057.02,138.02,149.98,364.9
EBITDA368.81,480.8465.0443.5431.5398.61,738.6
EBIT368.81,480.8465.0443.5431.5398.61,738.6
Profit before taxes368.81,480.8465.0443.5431.5398.61,738.6
Net income382.81,322.8343.0310.3319.7310.91,283.9
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Research by
Kasper Mellas

Sampo Q3'24: Streak of strong quarters continues

The profitability of Sampo's insurance operations remained strong in the third quarter of the year, and the forecast changes for the coming years remained quite moderate. We still see the stock as correctly priced and thus consider the risk/reward ratio to be neutral.

Sampo