| Group overview | Q1 2024 | Q1 2025e | Low | High | Median | # Est. | FY 2024 | FY 2025e | FY 2026e | FY 2027e | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group GWP (incl. brokerage), EURm | 3,297 | 3,497 | 3,426 | 3,571 | 3,497 | 9 | 9,931 | 10,559 | 11,181 | 11,786 | |
| Group insurance revenue, net (incl. brokerage), EURm | 2,020 | 2,189 | 2,137 | 2,231 | 2,190 | 12 | 8,386 | 9,025 | 9,522 | 10,018 | |
| - Private, insurance revenue, net, EURm | 897 | 946 | 937 | 966 | 944 | 10 | 3,667 | 3,871 | 4,052 | 4,220 | |
| - Commercial, insurance revenue, net, EURm | 522 | 556 | 547 | 574 | 553 | 10 | 2,128 | 2,274 | 2,394 | 2,519 | |
| - Industrial, insurance revenue, net, EURm | 165 | 175 | 172 | 182 | 173 | 10 | 657 | 708 | 737 | 772 | |
| - UK, insurance revenue, net (incl. brokerage), EURm | 369 | 435 | 399 | 470 | 433 | 10 | 1,659 | 1,885 | 2,047 | 2,218 | |
| - Other operations, insurance revenue, net, EURm | 67 | 70 | 67 | 72 | 70 | 10 | 275 | 282 | 292 | 303 | |
| Group underwriting result, EURm | 260 | 325 | 290 | 368 | 324 | 12 | 1,316 | 1,464 | 1,585 | 1,690 | |
| - Private, underwriting result, EURm | 104 | 143 | 106 | 159 | 152 | 8 | 628 | 697 | 751 | 799 | |
| - Commercial, underwriting result, EURm | 86 | 94 | 90 | 99 | 94 | 8 | 352 | 392 | 420 | 452 | |
| - Industrial, underwriting result, EURm | 27 | 21 | -3 | 31 | 24 | 8 | 74 | 91 | 98 | 104 | |
| - UK, underwriting result, EURm | 32 | 44 | 33 | 52 | 45 | 10 | 190 | 214 | 236 | 252 | |
| - Other operations, underwriting result, EURm | 11 | 13 | 4 | 18 | 13 | 10 | 72 | 62 | 66 | 68 | |
| Group combined ratio, % | 87.1 | 85.1 | 83.4 | 87.0 | 84.9 | 11 | 84.3 | 83.8 | 83.4 | 83.1 | |
| Net financial result, EURm | 265 | 85 | 27 | 131 | 88 | 12 | 636 | 398 | 459 | 469 | |
| - Net investment income | 295 | 104 | 67 | 173 | 86 | 9 | 888 | 610 | 706 | 716 | |
| - Insurance finance income or expense | -30 | -31 | -146 | 20 | -13 | 9 | -252 | -221 | -244 | -249 | |
| Profit before taxes, EURm | 465 | 350 | 267 | 426 | 351 | 12 | 1,559 | 1,632 | 1,820 | 1,932 | |
| Net income for the equity holders, EURm | 343 | 273 | 211 | 328 | 271 | 12 | 1,154 | 1,274 | 1,421 | 1,509 | |
| Earnings per share, EUR | 0.14 | 0.10 | 0.08 | 0.12 | 0.10 | 12 | 0.45 | 0.48 | 0.54 | 0.58 | |
| Operating result, EURm | 253 | 309 | 268 | 353 | 301 | 10 | 1,193 | 1,380 | 1,500 | 1,588 | |
| Operating EPS, EUR | 0.10 | 0.12 | 0.10 | 0.13 | 0.11 | 10 | 0.47 | 0.52 | 0.57 | 0.61 | |
| Dividend per share, EUR | NA | NA | NA | NA | NA | NA | 0.34 | 0.37 | 0.39 | 0.41 | |
| Buybacks (announded YTD), EURm | 0 | 0 | 0 | 0 | 0 | 9 | 800 | 341 | 379 | 289 | |
| Solvency II ratio (incl. div. accrual), % | 180 | 176 | 169 | 180 | 178 | 8 | 177 | 175 | NA | NA | |
| Share count (end of period), million shares | 2,509 | 2,686 | 2,654 | 2,691 | 2,691 | 12 | 2,561 | 2,665 | 2,626 | 2,597 |
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.
