contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls {
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

alternatePageUrls

imgUrl

description

Sabbatical

Sauli Vilén

Analyst

Kasper Mellas

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.

Jag skulle lyfta fram olika saker som investerare har diskuterat när det gäller Sampo.  Synergipotentialen från fusionen mellan Sampo och Topdanmark har väckt diskussion, eftersom de uppskattade fördelarna kan överstiga tidigare angivna siffror. Synergierna beror till stor del på hur väl kostnadsförhållandet för den danska verksamheten kan optimeras efter fusionen. Om man når samma nivå som If:s övriga marknader kan synergipotentialen öka avsevärt. En annan intressant aspekt rör försäkringsbolagens float, det vill säga försäkringspremier som kunderna har betalat i förskott men som ännu inte har använts för skadeersättningar. Med hjälp av float kan försäkringsbolaget investera medlen och skapa extra intäkter. Även om det bokföringsmässigt syns som noll i balansräkningen, är dess betydelse för företagets resultat betydande, särskilt för lönsamma bolag som Sampo. Float kan ses som ett lån från kunderna till företaget, där “räntan” bestäms av lönsamheten i försäkringsverksamheten. I ett välfungerande bolag skapar detta ett betydande mervärde. Floatens värde begränsas dock av att den inte tillhör aktieägarna samt av regleringar som styr hur den kan investeras. Därför är det svårt att värdera float högre än eget kapital, även om den spelar en viktig roll i bolagets verksamhet.

Inderes analytiker Kasper Mellas har gjort en ny bra analys av Sampo. 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. We reiterate our Reduce recommendation and revise our target price to EUR 42.0 per share (was 41.0e), considering the value in our dividend model.                   Inderes              Sampo Q3'24: Streak of strong quarters continues - Inderes    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...

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.

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.

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 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

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:

Sampo

Sampo operates mainly in the very lucrative Nordic P&C insurance market with high-quality business operations. The company currently performs excellently, and we expect stable earnings growth...

<p>Sampo operates mainly in the very lucrative Nordic P&amp;C insurance market with high-quality business operations. The company currently performs excellently, and we expect stable earnings growth and a strong dividend stream for the upcoming years. The share’s valuation is in line with the valuation methods we use.</p> 

	2022	23e	24e
Revenue	8,267.0	8,219.0	8,707.6
growth-%	-15.18 %	-0.58 %	5.94 %
EBIT (adj.)	1,786.0	1,476.2	1,600.3
EBIT-% (adj.)	21.60 %	17.96 %	18.38 %
EPS (adj.)	3.71	2.41	2.70
Dividend	2.60	2.40	2.50
Dividend %	5.85 %	6.15 %	6.41 %
P/E (adj.)	11.96	16.19	14.45
EV/EBITDA	12.28	13.88	12.53

Sampo: The King of the Nordic P&C insurance market

Sampo

Key Estimate Figures2023-06-14

Sampo

Key Estimate Figures2023-06-14

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