reports
Tryg A/S – total number of voting rights and capital
Tryg A/S – total number of voting rights and capital With reference to section 32 of the Danish Capital Markets Act (Kapitalmarkedsloven), Tryghereby publishes the company's total number of voting rights and the total share capital. After the capital decrease registered on 29 April 2024 the company's share capital was reduced by nominal DKK 92,214,355 to nominal DKK 3,081,960,545. Tryg's nominal share capital amounts to DKK 3,081,960,545 equivalent to 616.392.109 shares and 308,196,054,500 voting rights as of 30 April 2024. Attachment
Tryg A/S – capital reduction
Tryg A/S – capital reduction At Tryg’s annual general meeting on 21 March 2024, it was decided to cancel repurchased shares from the Group’s share buy back programmes. The Group’s share capital is reduced by nominal DKK 92,214,355 to nominal DKK 3,081,960,545. The reduction of the share capital was announced by the Danish Business Authority on 22 March 2024. Tryg has not received any objections to the capital reduction. Therefore, the reduction is effective as the Danish Business Authority has registered the capital reduction. After the cancellation of the 18,442,871 repurchased share...
- Martin Arnell
Evolution (Buy, TP: SEK1700.00) - Live buying opportunity
We reiterate our BUY and SEK1,700 target price after healthy but in-line Q1 results (Live revenue growth >25% YOY at constant FX). In our view, the weak share price despite a healthy start to the year, promising new games pipeline, high-conviction growth outlook (growth investments, e.g. recruitment), and long-awaited Live dealer contract with leading operator bet365 offers a solid buying opportunity.
- Håkon Astrup
SpareBank1 SR-Bank (Buy, TP: NOK158.00) - Solid growth and asset quali...
With NII remaining at high levels and modest loan losses, SRBNK reported a Q1 ROE of 14.6% versus its >13% target. Following strong lending growth of 2.3% QOQ, the CET1 ratio was flat QOQ, with the bank highlighting cNOK2.5bn synergy potential from the pending merger with SpareBank 1 Sørøst-Norge. We have made only minor changes to our 2025–2026e EPS. With the stock trading at a 2025e P/E of ~8.9x, we continue to find the valuation attractive. We reiterate our BUY and NOK158 target price.
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Capital Goods Research
- Adrian Gilani
- Karl Bokvist
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Capital Goods Research
- Adrian Gilani
- Karl Bokvist
- ABGSC Online Gaming Research
- Oscar Rönnkvist
- Simon Jönsson
- ABGSC Online Gaming Research
- Oscar Rönnkvist
- Simon Jönsson
- Håkon Astrup
Tryg (Buy, TP: DKK185.00) - Continued underlying improvement
Q1 PTP was down 15% YOY to DKK1,007m (as we and consensus expected), reflecting the harsh winter weather and a high-profile claim in Sweden. However, the underlying claims ratio extended its long run of improvements, ending 0.5%-points stronger YOY. Given the ongoing premium repricing and CMD in December, we expect focus to remain on maintaining underwriting discipline, supporting continued improvements. We have made limited changes to our 2025–2026e net profit, and reiterate our BUY and DKK185 ...
Reporting of granting of Tryg shares to Allan Kragh Thaysen (CFO) and ...
Reporting of granting of Tryg shares to Allan Kragh Thaysen (CFO) and Alexandra Bastkær Winther (CCO) Group CFO Allan Kragh Thaysen has been granted 5,002 Tryg shares for a total amount of DKK 687,775. Group CCO Alexandra Bastkær Winther has been granted 4,473 Tryg shares for a total amount of DKK 615,037. Granting of the shares are related to the bonus programme in 2020. Attachment
Tryg A/S – 1. kvartals rapport 2024
Tryg A/S – 1. kvartals rapport 2024 Trygs bestyrelse har i dag godkendt 1. kvartals rapport for 2024 Tryg rapporterede et insurance service result på 1.275 mio. DKK (1.474 mio. DKK) og en combined ratio på 86,6 (84,0) i 1. kvartal 2024 påvirket negativt af højere end normalt vejr- og storskader niveau for mere end 180 mio. DKK. Den underliggende erstatningsprocent for Tryg Koncernen blev forbedret med 0,5 procentpoint, hvorimod Privat havde en forværring i den underliggende erstatningsprocent på 0,5 procentpoint påvirket af en stigning i frekvensen for motor skader. Tryg rapporterede en...
Tryg A/S – Interim report Q1 2024
Tryg A/S – Interim report Q1 2024 Tryg’s Supervisory Board has today approved the Q1 2024 interim report. Tryg reported an insurance service result of DKK 1,275m (DKK 1,474m) and a combined ratio of 86.6 (84.0) in Q1 2024, adversely impacted by more than DKK 180m higher than normal weather and large claims level. The underlying claims ratio for the Group improved by 50bps, whilst the Private segment displayed a deterioration of 50bps driven by an increase in motor claims frequency. Tryg reported a top-line growth of 4.8% primarily driven by price increases to offset inflationary pressu...
- Martin Arnell
Evolution (Buy, TP: SEK1700.00) - Continued strong start to 2024
According to our tracker, the positive trend that we identified in Q1 (stabilising YOY growth after a period of deceleration) has continued in Q2: total daily average players has grown by 10% QOQ, corresponding to >35% YOY. We believe the strong trend YTD implies upside potential to our forecasts and consensus for Q1–Q2 Live revenue growth of 6–4% QOQ. Evolution continues to widen the gap to competition and we believe stabilising Live revenue growth YOY should prompt a share price re-rating.
- Håkon Astrup
Repricing the tonic for bad weather
We expect above-normal weather-related claims in Q1 as a result of heavy rain and snowfall (and record-low temperatures) in the Nordics at the start of the year. On the positive side, we believe the non-life insurers should see the effects of 2023’s repricing efforts, while their latest CMD presentations leave us confident the sector remains committed to maintaining underwriting discipline. Tryg is our top pick in the Nordic P&C sector, while we also reiterate our BUYs on Sampo and Gjensidige an...
Tryg A/S offentliggør resultat for 1. kvartal 2024 og afholder telekon...
Tryg A/S offentliggør resultat for 1. kvartal 2024 og afholder telekonference 17. april 2024 Tryg offentliggør resultat for 1. kvartal 2024 den 17. april 2024 cirka kl. 07:30 CET. Telekonference Tryg afholder telekonference på offentliggørelsesdagen kl. 10:00 CET. Koncernchef Johan Kirstein Brammer, koncernfinansdirektør Allan Kragh Thaysen og koncerndirektør Mikael Kärrsten vil præsentere resultatet, hvorefter der vil være mulighed for at stille spørgsmål. Telekonferencen foregår på engelsk. Dato17. april 2024Tid10:00 CET Telefonnumre Pinkode+45 (DK) 78 76 84 90+44 (UK) 203 769 6819+1...
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