Topdanmark A/S
Topdanmark Interim Report Q1-Q3 2012
Topdanmark A/S 13.11.2012 12:15 --------------------------------------------------------------------------- 13 November 2012 Announcement No. 11/2012 Key features Q1-Q3 2012 -- Post-tax profit increased 103.6% to DKK 1,370m (Q1-Q3 2011: DKK 673m). -- Profit per share increased 117.7% to DKK 105.8 (Q1-Q3 2011: DKK 48.6). -- The combined ratio improved to 88.0% (Q1-Q3 2011: 90.5%). Excluding run-off profits it improved to 89.9% (Q1-Q3 2011: 92.2%). -- Premiums increased 1.3% in non-life insurance and 2.9% in life insurance. -- Investment return increased to DKK 993m (Q1-Q3 2011: DKK 419m). Q3 2012 -- Post-tax profit: DKK 523m (Q3 2011: DKK 53m loss). -- Profit per share: DKK 41.1 (Q3 2011: DKK 3.9 loss). -- Combined ratio: 88.9% (Q3 2011: 91.8%). -- Combined ratio excluding run-off profits: 90.7% (Q3 2011: 94.3%). -- Premium growth: 1.4% in non-life insurance and 5.4% in life insurance. -- Investment return: DKK 413m (Q3 2011: DKK 119m loss). Profit forecast model for 2012 -- Topdanmark continues to assume premium growth of 1-2% for non-life insurance. For regular premiums in life insurance it assumes a decline of 8% (previously: 5% decline). -- The assumed combined ratio has been adjusted from around 90% to around 89%, excluding run-off results in Q4 2012. -- The post-tax profit forecast model for 2012 has been upgraded from DKK 1,300-1,400m to DKK 1,550-1,650m representing a profit per share of DKK 125. This assumption excludes run-off results in Q4 2012. -- The balance of the shadow account is assumed to be DKK 243m at the end of 2012. The shadow account can be included as income in a subsequent period. Share buy-back -- The share buy-back programme for 2012 has been expanded by DKK 250m to DKK 1,700m -- DKK 500m of the buy-back of DKK 1,700m has been postponed to 2013, see 'Solvency' on page 11. -- Topdanmark has bought back own shares of DKK 1,021m which leaves a balance of DKK 179m in 2012. Assumptions for 2013 -- In non-life insurance premium growth is assumed to be 1-2% and the combined ratio around 91% excluding run-off results. In a webcast today Topdanmark's CEO, Christian Sagild, will be presenting the financial highlights and comments on the forecast. A conference call will be held today at 15:30 (CET) when Christian Sagild, CEO, and Lars Thykier, CFO, will be available for questions regarding the interim report and the webcast. The call will be conducted in English. In order to participate in the conference call, please phone: UK dial-in number: +44 (0)20 7162 0125 US dial-in number: +1 866 803 8344 quoting reference 924518 10-15 minutes before the conference ask the operator to connect you to the Topdanmark conference call - or listen to the live transmission of the call. Please direct any queries to: Christian Sagild, Chief Executive Officer, Direct tel.: +45 4474 4450 Lars Thykier, Chief Financial Officer, Direct tel.: +45 4474 3714 Steffen Heegaard , Group Communications and IR Director, Direct tel.: +45 4474 4017, mobile: +45 4025 3524 Topdanmark A/S Reg.No. 78040017 Borupvang 4 2750 Ballerup News Source: NASDAQ OMX 13.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Topdanmark A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010259530 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden