Sampo Group reported good results again, dividend proposal EUR 1.95 per share
(Thomson Reuters ONE) -
SAMPO PLC PRESS RELEASE 11 February 2015 at 9.40 am
Sampo Group reported good results again, dividend proposal EUR 1.95 per share
Sampo Group's profit before taxes for 2014 amounted to EUR 1,759 million
compared to EUR 1,668 million a year earlier. Total comprehensive income for the
period, taking changes in the market value of assets into account, decreased to
EUR 1,179 million from EUR 1,425 million largely as a result of weakened Swedish
and Norwegian kronas.
- Sampo reported good results despite the lack of outside assistance in sticky
economic conditions, says Group CEO Kari Stadigh.
- If P&C reached its best ever combined ratio for the full year, Mandatum Life
reported all-time high premiums from unit-linked policies and Sampo's share of
Nordea's dividend proposal is EUR 533 million, Stadigh adds.
Combined ratio for the full year 2014 for If P&C amounted to 87.7 per cent
compared to 88.1 per cent in 2013. Premiums from unit-linked policies for
Mandatum Life reached an all-time high EUR 961 million compared to EUR 909
million a year earlier.
- Due to the good operating profit we are able to increase our dividend proposal
for the sixth consecutive year already, Stadigh says.
The Sampo Board of Directors proposes a dividend of EUR 1.95 per share. The
company paid a dividend of EUR 1.65 per share for the year 2013.
Other key figures
* Sampo's earnings per share were EUR 2.75 (2.59).
* The return on equity for the Group decreased to 10.9 per cent for 2014
(13.8).
* Net asset value per share at the end of 2014 increased to EUR 22.63 (22.15).
* The profit before taxes for the P&C insurance amounted to EUR 931 million
(929).
* Sampo's share of Nordea's net profit for 2014 amounted to EUR 680 million
(635).
* Life insurance operations reported for 2014 profit before taxes of EUR 163
million (153).
Outlook for 2015
Sampo Group's business areas are expected to report good operating results for
2015.
However, the mark-to-market results are, particularly in life insurance, highly
dependent on capital market developments. The continuing low interest rate level
also creates a challenging environment for reinvestment in fixed income
instruments.
The P&C insurance operations are expected to reach their long-term combined
ratio target of below 95 per cent in 2015 by a margin.
Nordea's contribution to the Group's profit is expected to be significant.
Please find Sampo Group's Financial Statements Release for 2014 as well as
Supplementary Financial Information Package at www.sampo.com/result.
For more information, please contact: Maria Silander, Communications Manager,
tel. +358 10 516 0031
Press Conference and Conference Call
Sampo will today arrange a Finnish-language press conference at Savoy
(Eteläesplanadi 14, Helsinki), at 12.30 pm Finnish time. An English-language
conference call will be arranged at 4 pm Finnish time (2 pm UK time). Please
call +44 (0)203 194 0550, +1 855 269 2605, +46 (0)8 5199 9355 or +358 (0)9
8171 0465. The title for the conference is 'Sampo Group's Results for 2014'. The
conference call can also be followed live at www.sampo.com/result.
Distribution:
The principal media
www.sampo.com
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sampo Oyj via GlobeNewswire
[HUG#1893500]
Unternehmensinformation / Kurzprofil:
Datum: 11.02.2015 - 08:40 Uhr
Sprache: Deutsch
News-ID 370752
Anzahl Zeichen: 4263
contact information:
Town:
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Kategorie:
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