SAMPO Sampo Oyj Class A

Sampo completes its share buyback programme

Sampo completes its share buyback programme

SAMPO PLC                STOCK EXCHANGE RELEASE        9 February 2023 at 8:40 am EET



Sampo completes its share buyback programme

Sampo plc has now completed its share buyback programme. The repurchases of shares began on 10 June 2022 and ended on 8 February 2023. During that period, Sampo repurchased 22,083,582 of its own A shares at an average price per share of EUR 45.28. The amount corresponds to 4.1 per cent of all Sampo plc’s shares based on the share count prior to the start of this programme. The repurchase of own shares has reduced the company's unrestricted equity by EUR 1 billion.

The purpose of the buyback programme was to return excess capital to shareholders by reducing Sampo plc’s capital, as the repurchased shares will be cancelled. Of the total shares repurchased through this programme, 16.7 million shares were already cancelled on 8 December 2022.



SAMPO PLC

Investor Relations and Group Communications

For further information, please contact:

Sami Taipalus

Head of Investor Relations

tel. 0

Maria Silander

Communications Manager, Media Relations

tel. 1

Distribution:

Nasdaq Helsinki

Nasdaq Stockholm

London Stock Exchange

The principal media

Financial Supervisory Authority





EN
09/02/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Sampo Oyj Class A

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR10.20) - Strong underwriting momentum

Although Q1 PTP declined by 19% YOY to EUR377m, due to a lower investment result, Sampo continued to see strong underwriting momentum, with 9% YOY GWP growth (in local FX) and a 2.5%-points stronger underlying combined ratio YOY. Based on a better synergy outlook from the integration of Topdanmark, it increased its cost improvement guidance. We have raised our 2026–2027e EPS by ~1% on higher growth and ongoing underwriting improvements. We have raised our target price to EUR10.2 (9.8), and reite...

Håkon Astrup
  • Håkon Astrup

Solid growth momentum into 2025e

Helped by benign weather with few storms, we expect solid underwriting across the Nordic P&C sector for Q1, with underlying performance further supported by earned repricing momentum and abating claims inflation. The sector is trading at an attractive average 2026e P/E of c15.2x and we see solid capital distribution prospects. We reiterate our recommendations on all our covered sector names and highlight Tryg as our top pick.

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR9.80) - Minor model adjustments

We have adjusted our estimates to reflect the now completed 4-to-1 share split announced by the board on 5 February. While we forecast unchanged earnings, we have revised our 2025–2027e EPS and DPS due to the increased share count. We do not consider these changes to be material, and we have not changed our BUY recommendation. We have adjusted our target price to EUR9.80 (49).

Sampo: 1 director

A director at Sampo bought 7,500 shares at 41.097EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing ...

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR49.00) - Strong underwriting momentum

Against a backdrop of soft financial markets and one-off integration costs, Sampo continues to deliver a solid underwriting performance, with the Q4 adjusted risk ratio improving by 0.3%-points YOY, helped by currency-adjusted GWP growth of 18% YOY. We believe the company’s efforts to mitigate claims inflation and increased frequencies should support growth and earnings, in line with the ambitions from the 2024 CMD, and have raised our 2025–2026e EPS by ~1%. We reiterate our BUY and have raised ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch