Brief: Alm. Brand Announces New Financial Targets For 2025

ALM. Brand A/S

22/11/2022 07:39

Nov 22 (Reuters) - ALM. Brand A/S  ALMB.CO :
    * RELEASES NEW FINANCIAL TARGETS FOR 2025
    * IS ALSO INTRODUCING A NEW PROFITABILITY TARGET DEFINED AS RETURN ON TANGIBLE EQUITY (ROTE)
OF
MORE THAN 50% IN 2025
    * TARGET: TO REALISE A TECHNICAL RESULT OF DKK 2.1 BILLION INCLUDING RUN-OFFS
    * ALL FINANCIAL TARGETS ARE SUPPORTED BY REALISATION OF SYNERGIES FROM ACQUISITION OF CODAN
IN A
TOTAL AMOUNT OF DKK 600 MILLION IN PERIOD TOWARDS 2025
    * TARGET: TO REDUCE COMBINED RATIO TO 84, INCLUDING A REDUCTION OF EXPENSE RATIO TO 16
    * AIMS TO HAVE AN SCR RATIO OF 170% GOING FORWARD AND WILL, WITH DUE CONSIDERATION THERETO,
BE
ABLE TO DISTRIBUTE A HIGH PROPORTION OF ITS FUTURE EARNINGS TO ITS SHAREHOLDERS
    * IS CHANGING ITS DISTRIBUTION POLICY TO A PAYOUT RATIO OF AT LEAST 80% AND EXPECTS
DISTRIBUTION
IN COMING YEARS TO BE A COMBINATION OF DIVIDEND PAYMENTS AND SHARE BUY-BACKS

Source text for Eikon:  ID:nGNE4rdwJf 
Further company coverage:  ALMB.CO 
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