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ALM. Brand A/S (ALMB.CO)

ALMB.CO on Copenhagen Stock Exchange

70.70DKK
28 Sep 2020
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Latest Key Developments (Source: Significant Developments)

Alm. Brand Q2 Pre-tax Profit Up At DKK 371 Mln, Upgrades 2020 Guidance
Friday, 31 Jul 2020 

July 31 (Reuters) - ALM. Brand A/S ::REG-UPGRADE OF GUIDANCE FOR THE 2020 RESULTS.FULL-YEAR GUIDANCE IS UPGRADED TO A CONSOLIDATED PRE-TAX PROFIT OF DKK 750-850 MILLION AGAINST PREVIOUS GUIDANCE OF DKK 550-700 MILLION.TOTAL IMPACT OF COVID-19 ON GROUP'S ACTIVITIES IN FIRST HALF OF YEAR IS NOW NEUTRAL, HEREIN INCLUDED WRITE-DOWN ON LOANS IN BANK MADE IN Q1..POSITIVE DEVELOPMENT IN FINANCIAL MARKETS MEANS THAT GROUP HAS CURRENTLY RECOVERED UNREALIZED LOSSES ON INVESTMENT ASSETS.IN Q2 NON-LIFE BUSINESS HAS SEEN BETTER THAN EXPECTED DEVELOPMENT IN WEATHER-RELATED AND MAJOR CLAIMS AS WELL AS A POSITIVE DEVELOPMENT IN UNDERLYING INSURANCE OPERATION.Q2 PRE-TAX PROFIT DKK 371 MILLION VERSUS DKK 145 MILLION YEAR AGO.Q2 TOTAL INCOME DKK 2,013 MILLION VERSUS DKK 2,036 MILLION YEAR AGO.  Full Article

ALM. Brand Board Recommends Rasmus Werner Nielsen As CEO
Tuesday, 9 Jun 2020 

June 9 (Reuters) - ALM. Brand A/S ::REG-THE BOARD OF DIRECTORS RECOMMENDS RASMUS WERNER NIELSEN AS CEO OF ALM. BRAND A/S.HAS REQUESTED DANISH FSA FOR APPROVAL OF RASMUS WERNER NIELSEN AS CEO OF COMPANY.UNTIL PROCESS IN COMPLETED, BOARD OF DIRECTORS AND COMPANY HAVE NO FURTHER COMMENTS.  Full Article

ALM. Brand Q1 Pre-Tax Profit Down At DKK 33 Mln
Thursday, 14 May 2020 

May 14 (Reuters) - ALM. Brand A/S ::REG-ALM. BRAND A/S - INTERIM REPORT Q1 2020.POSTED A PRE-TAX PROFIT OF DKK 33 MILLION IN Q1 2020..PROFIT WAS IMPACTED BY SPECIAL SITUATION TRIGGERED BY COVID-19,.OUTLOOK FOR 2020 : EXPECTS TO GENERATE A PRE-TAX PROFIT OF DKK 550-700 MILLION EXCLUDING RUN-OFF RESULT IN NEXT NINE MONTHS.MAINTAINS FINANCIAL TARGETS FOR 2022.ALM. - GUIDANCE IS SUBJECT TO GREATER-THAN-USUAL UNCERTAINTY DUE TO FOLLOW-ON EFFECTS OF COVID-19 ON INVESTMENT RESULT AND IMPAIRMENT WRITEDOWNS ON LOANS IN PARTICULAR.TARGET FOR CUSTOMER SATISFACTION AS EXPRESSED BY NET PROMOTOR SCORE IS 70, WHILE TARGET FOR EMPLOYEE SATISFACTION IS A SCORE OF 80.ALM. BRAND - REVISES FY GUIDANCE FOR NON-LIFE INSURANCE TO PRE-TAX PROFIT OF ABOUT DKK 500 MILLION EX. RUN-OFF RESULT VERSUS EARLIER VIEW OF DKK 525 MILLION EX. RUN-OFF RESULT.FOR LIFE INSURANCE, GUIDANCE FOR A PRE-TAX PROFIT OF ABOUT DKK 100 MILLION IS MAINTAINED.GUIDANCE FOR BANKING REVISED TO PRE-TAX PROFIT OF ABOUT DKK 80 MILLION VERSUS EARLIER VIEW OF DKK 100 MILLION.Q1 TOTAL INCOME DKK 2.11 BILLION VERSUS DKK 2.20 BILLION YEAR AGO.  Full Article

Alm. Brand Postpones Annual General Meeting
Wednesday, 15 Apr 2020 

April 15 (Reuters) - ALM. Brand A/S ::POSTPONEMENT OF ALM. BRAND A/S’S ANNUAL GENERAL MEETING CONVENED FOR 29 APRIL 2020.A NOTICE WITH A NEW DATE AND TIME FOR ANNUAL GENERAL MEETING WILL BE SENT OUT ONCE WE HAVE A MORE CLEAR PICTURE OF WHEN SPECIAL SOCIETAL MEASURES IN RESPONSE TO COVID-19 WILL CEASE TO APPLY.BOARD OF DIRECTORS OF ALM. BRAND A/S HAS DECIDED TO POSTPONE ANNUAL GENERAL MEETING CONVENED FOR 29 APRIL 2020 DUE TO CORONAVIRUS SITUATION (COVID-19).BOARD OF DIRECTORS OF ALM. BRAND A/S HAS RECONSIDERED ITS PROPOSAL FOR APPROPRIATION OF PROFIT, INCLUDING PAYMENT OF DIVIDEND FOR 2019 FINANCIAL YEAR.BOARD OF DIRECTORS PROPOSES THAT DECISION ABOUT PAYMENT OF DIVIDEND IS POSTPONED TO AUTUMN OF 2020.  Full Article

ALM. Brand Financial Forecast For 2020 Earnings Affected By Covid-19
Thursday, 19 Mar 2020 

March 19 (Reuters) - ALM. Brand A/S ::STABLE UNDERLYING EARNINGS DEVELOPMENT – RETURN ON INVESTMENTS HIT BY DEVELOPMENT ON FINANCIAL MARKETS.FINANCIAL FORECAST FOR 2020 EARNINGS AFFECTED BY COVID-19.ALM. BRAND CHANGES EXPECTATIONS FOR PROFIT BEFORE TAX FOR YEAR.UPDATES GUIDANCE FOR PRE-TAX PROFIT IN 2020 TO DKK 550-700 MILLION AGAINST PREVIOUS GUIDANCE OF DKK 650-700 MILLION.FINANCIAL TARGETS FOR 2022 ARE NOT AFFECTED BY CURRENT DEVELOPMENT.  Full Article

Alm. Brand Completes Share Buyback Programme
Friday, 13 Mar 2020 

March 13 (Reuters) - ALM. Brand A/S ::SHARE BUYBACK PROGRAMME COMPLETED.IN PERIOD APRIL 30, 2019 TO MARCH 12, 2020, ALM. BRAND A/S HAS COMPLETED A SHARE BUYBACK PROGRAMME OF UP TO DKK 200 MILLION.A TOTAL OF 3,546,087 SHARES HAS BEEN ACQUIRED UNDER SHARE BUYBACK PROGRAMME AT AN AVERAGE PRICE OF DKK 56.40 PER SHARE.FOLLOWING ABOVE TRANSACTIONS, ALM. BRAND HOLDS 3,889,404 OWN SHARES, WHICH IS EQUAL TO 2.5% OF SHARE CAPITAL.  Full Article

ALM. Brand Q4 Pre-Tax Profit Ex. Extraordinary Costs At DKK 152 Mln
Thursday, 27 Feb 2020 

Feb 27 (Reuters) - ALM. Brand A/S ::REG-ANNUAL REPORT 2019.IN Q4 2019, ALM. BRAND GENERATED A PRE-TAX PROFIT EXCLUDING EXTRAORDINARY COSTS OF DKK 152 MILLION, AS COMPARED WITH A DKK 84 MILLION PROFIT IN 2018.Q4 TOTAL INCOME DKK 2.13 BILLION.RECOMMENDS DISTRIBUTION OF A DIVIDEND OF DKK 3.00 PER SHARE..THE TECHNICAL RESULT WAS A PROFIT OF DKK 98 MILLION BEFORE TAX IN Q4 2019, AGAINST DKK 124 MILLION IN Q4 2018.THE Q4 2019 EXPENSE RATIO WAS 17.0.TRANSFORMATION PROCESS WILL CHARACTERISE 2020 AND THE FOLLOWING YEARS.ALM. BRAND EXPECTS TO POST A PRE-TAX PROFIT OF DKK 650-700 MILLION IN 2020 EXCLUDING RUN-OFF RESULT, CORRESPONDING TO AN INCREASE OF ABOUT DKK 150 MILLION, OR CLOSE TO 30%, RELATIVE TO THE COMPARABLE 2019 PROFIT..2020 NON-LIFE INSURANCE IS EXPECTED TO GENERATE A PRE-TAX PROFIT EXCLUDING RUN-OFF RESULT OF ABOUT DKK 525 MILLION.PROFIT GUIDANCE FOR 2020 INCLUDES A PROFIT-ENHANCING FULL-YEAR EFFECT OF REDUNDANCIES OF APPROXIMATELY DKK 100 MILLION IN TOTAL.EXPECTS 2020 LIFE INSURANCE PRE-TAX PROFIT OF ABOUT DKK 100 MILLION.THE COMBINED RATIO IS EXPECTED TO BE IN THE REGION OF 91 IN 2020..COMBINED RATIO IS EXPECTED TO BE IN THE REGION OF 91 IN 2020..TARGET UNTIL 2022 IS GROWTH IN NON-LIFE INSURANCE DEFINED AS AN AVERAGE ANNUAL INCREASE IN GROSS PREMIUMS OF 3%.ALM. BRAND HAS INTRODUCED NEW FINANCIAL TARGETS TO BE ACHIEVED IN THE PERIOD UNTIL 2022: IMPROVED EARNINGS IN NON-LIFE INSURANCE AS EXPRESSED BY A COMBINED RATIO OF LESS THAN 90 AND A GROSS EXPENSE RATIO OF ABOUT 16.  Full Article

Alm. Brand Q4 Pre-Tax Profit Down At DKK 37 Million
Thursday, 30 Jan 2020 

Jan 30 (Reuters) - ALM. Brand A/S ::REG-ALM. BRAND A/S - PRELIMINARY STATEMENT OF FINANCIAL RESULTS FOR 2019.Q4 PRE-TAX PROFIT DKK 37 MILLION VERSUS DKK 84 MILLION YEAR AGO.Q4 TOTAL INCOME DKK 2.13 BILLION VERSUS DKK 2.17 BILLION YEAR AGO.2019 CONSOLIDATED PRE-TAX PROFIT EXCLUDING EXTRAORDINARY COSTS WAS DKK 684 MILLION IN 2019.BOARD OF DIRECTORS RECOMMENDS DISTRIBUTION OF AN ORDINARY DIVIDEND OF DKK 3.00 PER SHARE.ALM. BRAND WILL DISTRIBUTE APPROXIMATELY DKK 460 MILLION FOR 2019 FINANCIAL YEAR, CORRESPONDING TO A PAYOUT RATIO OF 102% OF PROFIT AFTER TAX.ALM. BRAND HAS DEFINED A TARGET FOR FUTURE ORDINARY DIVIDENDS EQUIVALENT TO A PAYOUT RATIO OF AT LEAST 70% OF PROFIT FOR YEAR AFTER TAX..EXPERIENCE FIERCE COMPETITION, LOW INTEREST RATES AND RAPID DIGITALISATION.CHANGES ARE BEING IMPLEMENTED TO CREATE A MORE CUSTOMER-ORIENTED AND COMPETITIVE GROUP.HEADCOUNT IS REDUCED BY 120 EMPLOYEES.MOST REDUNDANCIES WILL BE EFFECTED AT GROUP'S HEAD OFFICE, INCLUDING IN BANK.EXPECTS TO POST A PRE-TAX PROFIT OF DKK 650-700 MILLION IN 2020 EXCLUDING RUN-OFF RESULT, CORRESPONDING TO AN INCREASE OF ABOUT DKK 150 MILLION, OR CLOSE TO 30%, RELATIVE TO COMPARABLE 2019 PROFIT.PROFIT GUIDANCE FOR 2020 INCLUDES A PROFIT-ENHANCING FULL-YEAR EFFECT OF REDUNDANCIES OF APPROXIMATELY DKK 100 MILLION IN TOTAL.IN 2020 NON-LIFE INSURANCE IS EXPECTED TO GENERATE A PRE-TAX PROFIT EXCLUDING RUN-OFF RESULT OF ABOUT DKK 525 MILLION.  Full Article

ALM. Brand Q3 Pre-tax Profit Down At DKK 162 Mln
Tuesday, 5 Nov 2019 

Nov 5 (Reuters) - ALM. Brand A/S ::REG-ALM. BRAND - INTERIM REPORT 9M 2019.ALM. BRAND GENERATED A SATISFACTORY PRE-TAX PROFIT OF DKK 532 MILLION IN 9M 2019.Q3 TOTAL INCOME DKK 2.08 BILLION VERSUS DKK 2.05 BILLION YEAR AGO.Q3 PRE-TAX PROFIT DKK 162 MILLION VERSUS DKK 230 MILLION YEAR AGO.CONSOLIDATED PROFIT FOR FY 2019 IS EXPECTED TO BE IN DKK 625-725 MILLION RANGE.WE FIRMLY BELIEVE THAT WE, AS A GROUP AND WITH OUR STRATEGY, HAVE POTENTIAL TO DO BETTER THAN OUR FINANCIAL RESULTS FOR FIRST NINE MONTHS OF 2019 REFLECT.GUIDANCE FOR FULL-YEAR PROFIT IS MAINTAINED AT DKK 625-725 MILLION BEFORE TAX..EXPECTATIONS FOR INDIVIDUAL BUSINESS AREAS ARE ALSO MAINTAINED AT A PROFIT OF APPROXIMATELY DKK 600 MILLION FOR NON-LIFE INSURANCE, A PROFIT OF APPROXIMATELY DKK 90 MILLION FOR LIFE INSURANCE AND A PROFIT OF DKK 50-70 MILLION FOR BANKING.  Full Article

Alm. Brand Appoints Andreas Ruben Madsen Acting CFO
Thursday, 31 Oct 2019 

Oct 31 (Reuters) - Alm. Brand A/S ::REG-ALM. BRAND A/S - CHANGES TO THE MANAGEMENT.APPOINTED CHIEF GROUP RISK OFFICER ANDREAS RUBEN MADSEN AS ACTING CFO UNTIL A NEW CEO HAS TAKEN UP OFFICE..  Full Article

BRIEF-ALM. Brand Appoints New CEO And CFO

* RASMUS WERNER NIELSEN IS APPOINTED CEO OF ALM. BRAND AFTER HAVING SERVED AS INTERIM CEO SINCE AUTUMN 2019.