366 0 Kommentare Sampo Group's Interim Report for January-June 2014

SAMPO PLC INTERIM REPORT 13 August 2014 at 9.30 am

SAMPO GROUP'S INTERIM REPORT FOR JANUARY - JUNE 2014

Sampo Group's profit before taxes for January - June 2014 amounted to EUR 861 million (825). The total comprehensive income for the period, taking changes in the market values of assets into account, rose to EUR 790 million (579).

Earnings per share was EUR 1.34 (1.27) and mark-to-market EPS increased to EUR 1.41 per share (1.03). The return on equity for the Group was 14.9 per cent for the period (11.6).
Net asset value per share on 30 June 2014 was EUR 23.00 (22.15). In early May 2014 Sampo plc paid a dividend of 1.65 euro per share which reduced the net assets correspondingly. The fair value reserve after tax on the Group level strengthened to EUR 1,106 million (960).
In the first half of 2014 the combined ratio of the P&C insurance operations amounted to 88.3 per cent (88.8). This is the best ever combined ratio in If's history for the period of January - June. The profit before taxes rose to EUR 483 million (473). Return on equity was 25.1 per cent (21.7).
Nordea is accounted for as an associated company and Sampo's 21.2 per cent share of Nordea's profit for January - June 2014 was EUR 309 million (319). Nordea's second quarter results contain a restructuring charge of EUR 190 million.
In life insurance operations profit before taxes rose to EUR 73 million (69). The interest rate used to discount with profit liabilities in 2015 was lowered to 2 per cent and the rate used in 2016 to 3.25 per cent. For 2014 the discount rate has already earlier been lowered to 2 per cent. The return on equity at market values was 17.9 per cent (4.6).

Key figures	1-6/	1-6/	Change,	4-6/	4-6/	Change,
EURm	2014	2013	%	2014	2013	%
Profit before taxes	861	825	4	465	455	2
P&C insurance	483	473	2	289	270	7
Associate (Nordea)	309	319	-3	139	157	-11
Life insurance	73	69	6	36	33	8
Holding (excl. Nordea)	-3	-34	-92	1	-4	-
Profit for the period	749	710	6	399	390	2
			Change			Change
Earnings per share, EUR	1.34	1.27	0.07	0.71	0.70	0.01
EPS (incl. change in FVR) EUR	1.41	1.03	0.38	0.74	0.16	0.58
NAV per share, EUR *)	23.00	22.15	0.85	-	-	-
Average number of staff (FTE)	6,757	6,827	-70	-	-	-
Group solvency ratio, % *)	189.3	184.4	4.9	-	-	-
RoE, %	14.9	11.6	3.3	-	-	-