The document summarizes the financial results of SpareBank 1 Gruppen for the first half of 2012. Some key points:
- Pre-tax profit was NOK 296 million, similar to the previous year.
- Net profit was NOK 263 million, up from NOK 249 million the previous year.
- Return on equity was 10.5%, the same as the previous year.
- Total assets increased to NOK 45.2 billion from NOK 42 billion at the end of 2011.
The document summarizes the financial results of SpareBank 1 Gruppen for the first quarter of 2012. Some key points:
- Pre-tax profit was NOK 173 million, the best Q1 result in five years. Return on equity was 15.9%.
- Most business areas saw improved results, including life insurance, property and casualty insurance, and asset management.
- Total assets in the group increased to NOK 44.5 billion from NOK 42 billion at the end of 2011.
- The company remains well-capitalized with a capital adequacy ratio of 14.8% meeting new Solvency II requirements.
- The company reported record sales of $4.5 billion in 2005, an 8% increase over 2004. Operating income increased 11% to $542 million.
- Raw material costs increased significantly which posed a challenge, but the company effectively managed these rising costs.
- The company expects higher raw material and freight costs to continue impacting operating income in 2006 and presents an ongoing challenge.
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its earnings presentations and forecasts. It provides reconciliations for several measures from 2006-2007, including ongoing EPS, segment EBIT, equity earnings, and funds from operations. The measures exclude special items that are non-recurring in order to provide a more accurate comparison of ongoing performance across periods. However, reconciliations to GAAP measures cannot be provided for forward-looking periods since special items cannot be predicted.
Annual accounts 2010 - Presentation of results from SpareBank 1 Gruppen ASSpareBank 1 Gruppen AS
SpareBank 1 Gruppen reported solid earnings performance in 2010 with improvements in return on equity. Highlights included a pre-tax profit of NOK 985 million in 2010 and NOK 343 million in Q4 2010. The Delta profitability project was completed with an estimated annual profitability effect of NOK 400 million from 2011. Subsidiaries such as SpareBank 1 Livsforsikring and SpareBank 1 Skadeforsikring Group reported strong profits throughout 2010.
The document provides reconciliation of non-GAAP financial measures for The Pepsi Bottling Group for 2008. It summarizes items affecting comparability between years such as impairment charges, restructuring charges, and accounting standard changes. Tables show the impact of these items on operating income, net revenues, operating profit, and earnings per share for 2008 compared to 2005, 2007, and 2003. The document also provides 2009 guidance forecasts for revenue growth, operating income growth, earnings per share, and operating free cash flow.
Third Quarter 2012 Investor PresentationCNOServices
3Q12 results reflect management's successful recapitalization which lowered CNO's cost of capital while maintaining strong capital ratios. Significant progress was also made on resolving the OCB litigation.
CNO's businesses continued to perform well with core earnings building. Investments were made to strengthen distribution and product offerings.
Capital and liquidity remained strong after deploying $455 million to reduce diluted shares by 15% YTD. Metrics like RBC ratio and debt to capital excluding AOCI remained high.
The document provides an overview of Premier Oil's 2011 annual results presentation. It discusses key highlights from 2011 including increased production to 60,000 boepd, increased reserves and resources to 527 mmboe, and increased financial strength. The presentation outlines Premier's path to reaching 100,000 boepd of production from existing projects in its portfolio and provides operational and exploration updates.
The document summarizes the financial results of SpareBank 1 Gruppen for the first quarter of 2012. Some key points:
- Pre-tax profit was NOK 173 million, the best Q1 result in five years. Return on equity was 15.9%.
- Most business areas saw improved results, including life insurance, property and casualty insurance, and asset management.
- Total assets in the group increased to NOK 44.5 billion from NOK 42 billion at the end of 2011.
- The company remains well-capitalized with a capital adequacy ratio of 14.8% meeting new Solvency II requirements.
- The company reported record sales of $4.5 billion in 2005, an 8% increase over 2004. Operating income increased 11% to $542 million.
- Raw material costs increased significantly which posed a challenge, but the company effectively managed these rising costs.
- The company expects higher raw material and freight costs to continue impacting operating income in 2006 and presents an ongoing challenge.
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its earnings presentations and forecasts. It provides reconciliations for several measures from 2006-2007, including ongoing EPS, segment EBIT, equity earnings, and funds from operations. The measures exclude special items that are non-recurring in order to provide a more accurate comparison of ongoing performance across periods. However, reconciliations to GAAP measures cannot be provided for forward-looking periods since special items cannot be predicted.
Annual accounts 2010 - Presentation of results from SpareBank 1 Gruppen ASSpareBank 1 Gruppen AS
SpareBank 1 Gruppen reported solid earnings performance in 2010 with improvements in return on equity. Highlights included a pre-tax profit of NOK 985 million in 2010 and NOK 343 million in Q4 2010. The Delta profitability project was completed with an estimated annual profitability effect of NOK 400 million from 2011. Subsidiaries such as SpareBank 1 Livsforsikring and SpareBank 1 Skadeforsikring Group reported strong profits throughout 2010.
The document provides reconciliation of non-GAAP financial measures for The Pepsi Bottling Group for 2008. It summarizes items affecting comparability between years such as impairment charges, restructuring charges, and accounting standard changes. Tables show the impact of these items on operating income, net revenues, operating profit, and earnings per share for 2008 compared to 2005, 2007, and 2003. The document also provides 2009 guidance forecasts for revenue growth, operating income growth, earnings per share, and operating free cash flow.
Third Quarter 2012 Investor PresentationCNOServices
3Q12 results reflect management's successful recapitalization which lowered CNO's cost of capital while maintaining strong capital ratios. Significant progress was also made on resolving the OCB litigation.
CNO's businesses continued to perform well with core earnings building. Investments were made to strengthen distribution and product offerings.
Capital and liquidity remained strong after deploying $455 million to reduce diluted shares by 15% YTD. Metrics like RBC ratio and debt to capital excluding AOCI remained high.
The document provides an overview of Premier Oil's 2011 annual results presentation. It discusses key highlights from 2011 including increased production to 60,000 boepd, increased reserves and resources to 527 mmboe, and increased financial strength. The presentation outlines Premier's path to reaching 100,000 boepd of production from existing projects in its portfolio and provides operational and exploration updates.
The document outlines a restructuring plan for Project Rescue Restructuring. It includes a SWOT analysis, analysis of the causes of financial distress both internally and externally, and plans to stabilize the business operations and finances in both the short and long-term. The plan proposes assessing options to overcome the financial crisis through restructuring the organization, improving results, and managing stakeholders. It provides details on assessing short-term survivability and developing a funding survival plan if needed.
The document provides reconciliations of non-GAAP financial measures reported by The Pepsi Bottling Group for 2008. It identifies items affecting comparability between years, including restructuring charges, asset disposal charges, and stock-based compensation. The document summarizes the quantitative impact of these items on key financial metrics like operating income growth, earnings per share, and cash flow. It also provides guidance for 2008 operating free cash flow.
This document provides reconciliations between Duke Energy Corporation's ("Duke Energy") non-GAAP financial measures and the most directly comparable GAAP measures for various periods. It discusses Duke Energy's use of "ongoing" measures which exclude special items that management believes are not recurring, such as gains, losses and impairment charges. The document also references Duke Energy's expectation to achieve ongoing EPS targets and segment earnings growth rates through 2012.
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its First Quarter 2007 Earnings Review presentation. Specifically, it discusses measures such as ongoing diluted EPS, ongoing segment EBIT, and expected ongoing diluted EPS growth rates which exclude special items that management believes are not recurring. It provides reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for previous periods to facilitate understanding of the non-GAAP information.
3/2/07 DF Special Dividend ConferenceCallSlidesfinance23
Dean Foods Company announced a special one-time dividend of $15 per share for shareholders, totaling approximately $2 billion. The dividend is conditioned upon completing a $4.8 billion credit facility to fund the payout and refinance existing debt. The presentation reviewed Dean Foods' strong financial performance and growth strategy, and argued that now is an opportune time for the recapitalization given internal growth opportunities and favorable debt market conditions. Guidance for 2007 was updated to reflect the transaction.
Highlights of the fourth quarter of 2011. Net sales amounted to SEK 28,369m (27,556) and income for the period was SEK 221m (677), or SEK 0.77 (2.38) per share. Operating income amounted to SEK 1,441m (1,714), corresponding to a margin of 5.1% (6.2), excluding items affecting comparability and non-recurring items.
1) DLF's exit to private equity investors, post-merger structure, and high debt levels have strained its balance sheet.
2) Cash generation from core operations will go towards debt servicing, and only divestment of non-core assets will meaningfully reduce debt.
3) DLF's new strategy of focusing on plotted developments is well-suited for the current economic environment and improves the company's financial position, despite generating lower revenues, by reducing costs and inventory risks.
- CNO Financial Group reported its financial and operating results for the second quarter of 2012, ended June 30, 2012.
- Key highlights included operating earnings increasing 22% year-over-year and sales growth of 6% over the second quarter of 2011.
- The company continued to generate and proactively deploy significant amounts of excess capital through share buybacks, initiating a common stock dividend, and improving key financial ratios.
This document is CLP Holdings' annual report for 2008. It includes the following sections: Financial Highlights, Chairman's Statement, Directors and Senior Management, CEO's Review, and others.
The Chairman's Statement discusses CLP's financial performance in 2008, noting operating earnings increased 4.6% to HK$9.7 billion while total earnings declined only 1.7% to HK$10.4 billion despite a significant reduction in permitted returns from the Hong Kong electricity business under a new Scheme of Control agreement. The Board recommended a final dividend of HK$0.92 per share, maintaining the total dividend at HK$2.48 per share.
The Chairman focuses on political and regulatory
1) The document summarizes Teekay LNG Partners' first quarter 2012 earnings presentation. It reported a 30% increase in distributable cash flow from the same period last year.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February through a joint venture.
3) Strong LNG demand growth from Japan is leading to higher shipping rates in 2012 after Japan's nuclear plants were taken offline, increasing LNG imports.
4) Teekay LNG Partners has strong liquidity of $440 million as of March 31, 2012 and no near-term debt maturities, giving it a solid financial position.
1) The company reported strong financial results in the first quarter of 2012, with distributable cash flow up 30% compared to the same period in 2011.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February that expanded its fleet.
3) Japanese LNG imports increased 24% in the first quarter compared to the previous year due to all nuclear power plants being offline, leading to higher shipping rates and a positive outlook for the LNG shipping industry in 2012.
The document provides a quarterly financial report for SpareBank 1 Gruppen. Some key points:
- Pre-tax profits increased significantly compared to the same quarter last year, reaching MNOK 553 for the first three quarters of 2012 compared to MNOK 248 for the same period in 2011.
- The return on equity was 12.7% for the first three quarters compared to 7% for the same period last year.
- Total assets increased to NOK 46.6 billion from NOK 42 billion at the end of 2011.
- Capital adequacy ratios remained strong and above regulatory requirements.
The annual report summarizes Computacenter's financial performance in 2009. Key points include:
- Adjusted profit before tax increased 25.8% to £54.2 million.
- Net funds before customer specific financing increased £81.8 million to £86.4 million.
- The ERP implementation, a group-wide project, remained on plan and budget.
- Customers gave the company high and improved satisfaction ratings.
- The Chairman expresses satisfaction with progress made in 2009 focusing on profitability, working capital optimization, and cash flow while investing in people, processes, and systems.
This document summarizes Hexion's second quarter 2007 earnings conference call. The summary includes:
- Hexion delivered strong revenue and EBITDA growth compared to the prior year period due to global diversification offsetting weakness in North American markets.
- Synergies from acquisitions are on track to achieve $175 million target.
- Hexion entered into a definitive merger agreement with Huntsman Corporation on July 12, 2007 to create one of the world's largest chemical companies, pending regulatory and shareholder approval.
The document is the 2004 annual report of WPS Resources Corporation. It discusses the company's financial performance in 2004 including increased revenues, net income, and earnings per share compared to 2003. It highlights projects and agreements signed in 2004 that will benefit future energy supply, environmental stewardship, and partnerships. These included a new power plant construction, renewable energy contracts, and long-term supply agreements. The report also notes the company's focus on delivering value to shareholders through earnings growth, dividend payments, and shareholder returns.
The document provides a letter from the Chairman of Interpublic Group to shareholders summarizing the company's performance in 2003 and outlining plans for the future.
The key points are:
1) 2003 was a year of transition as Interpublic stabilized the company and began a turnaround, though financial results were disappointing due to restructuring charges.
2) Significant progress was made strengthening the balance sheet and improving financial accountability.
3) Restructuring efforts improved margins and the company is on track to achieve margin targets.
4) Initiatives to boost organic growth and recruit top talent showed early success and will be important drivers of future performance.
5) Interpublic is well positioned to capital
Abengoa presented its 2011 earnings and provided an outlook for 2012. Key highlights included:
- Revenues increased 46% to 7,089 million euros and EBITDA grew 36% to 1,103 million euros in 2011.
- The company's backlog remained strong at 7.5 billion euros at the end of 2011.
- Abengoa is diversifying its business across regions and sectors through new projects in the solar, transmission, and water industries.
- The company aims to further reduce debt and continue growing through international expansion in 2012.
The document provides Sony's consolidated financial results for FY2011 and Q4 FY2011, as well as forecasts for FY2012. Key highlights include:
- Sales and operating income decreased in FY2011 due to unfavorable foreign exchange rates, the impact of natural disasters, and deteriorating market conditions. A large net loss was recorded.
- Sales were forecast to increase 14% in FY2012, with an operating income forecast due to improvements in Consumer Products & Services and Professional, Device & Solutions segments.
- Results by segment showed lower sales and losses in Consumer Products & Services and Professional, Device & Solutions in FY2011, with forecasts of recovery in FY2012.
This document summarizes CNO Financial Group's financial and operating results for the 4th quarter of 2012 ending December 31, 2012. It discusses growth in core earnings and sales across all business segments. CNO continued investing in distribution and new product offerings while maintaining strong capital levels and returning value to shareholders through stock repurchases and dividends. The outlook expects further sales growth through expansion of locations, agents, and products in 2013.
ANFO-seminar - Blogging - Case SpareBank 1-bloggen Penger og livet Christian ...Christian Brosstad
6 tips om bedriftsblogging.
Case: SpareBank 1-bloggen Penger og livet – Nordens første bankblogg
Christian Brosstad, informasjonsdirektør, SpareBank 1 Gruppen AS
ANFO-seminar Content Based Marketing, Oslo, 2. november 2010
Annonsørforeningen 2010
The document outlines a restructuring plan for Project Rescue Restructuring. It includes a SWOT analysis, analysis of the causes of financial distress both internally and externally, and plans to stabilize the business operations and finances in both the short and long-term. The plan proposes assessing options to overcome the financial crisis through restructuring the organization, improving results, and managing stakeholders. It provides details on assessing short-term survivability and developing a funding survival plan if needed.
The document provides reconciliations of non-GAAP financial measures reported by The Pepsi Bottling Group for 2008. It identifies items affecting comparability between years, including restructuring charges, asset disposal charges, and stock-based compensation. The document summarizes the quantitative impact of these items on key financial metrics like operating income growth, earnings per share, and cash flow. It also provides guidance for 2008 operating free cash flow.
This document provides reconciliations between Duke Energy Corporation's ("Duke Energy") non-GAAP financial measures and the most directly comparable GAAP measures for various periods. It discusses Duke Energy's use of "ongoing" measures which exclude special items that management believes are not recurring, such as gains, losses and impairment charges. The document also references Duke Energy's expectation to achieve ongoing EPS targets and segment earnings growth rates through 2012.
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its First Quarter 2007 Earnings Review presentation. Specifically, it discusses measures such as ongoing diluted EPS, ongoing segment EBIT, and expected ongoing diluted EPS growth rates which exclude special items that management believes are not recurring. It provides reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for previous periods to facilitate understanding of the non-GAAP information.
3/2/07 DF Special Dividend ConferenceCallSlidesfinance23
Dean Foods Company announced a special one-time dividend of $15 per share for shareholders, totaling approximately $2 billion. The dividend is conditioned upon completing a $4.8 billion credit facility to fund the payout and refinance existing debt. The presentation reviewed Dean Foods' strong financial performance and growth strategy, and argued that now is an opportune time for the recapitalization given internal growth opportunities and favorable debt market conditions. Guidance for 2007 was updated to reflect the transaction.
Highlights of the fourth quarter of 2011. Net sales amounted to SEK 28,369m (27,556) and income for the period was SEK 221m (677), or SEK 0.77 (2.38) per share. Operating income amounted to SEK 1,441m (1,714), corresponding to a margin of 5.1% (6.2), excluding items affecting comparability and non-recurring items.
1) DLF's exit to private equity investors, post-merger structure, and high debt levels have strained its balance sheet.
2) Cash generation from core operations will go towards debt servicing, and only divestment of non-core assets will meaningfully reduce debt.
3) DLF's new strategy of focusing on plotted developments is well-suited for the current economic environment and improves the company's financial position, despite generating lower revenues, by reducing costs and inventory risks.
- CNO Financial Group reported its financial and operating results for the second quarter of 2012, ended June 30, 2012.
- Key highlights included operating earnings increasing 22% year-over-year and sales growth of 6% over the second quarter of 2011.
- The company continued to generate and proactively deploy significant amounts of excess capital through share buybacks, initiating a common stock dividend, and improving key financial ratios.
This document is CLP Holdings' annual report for 2008. It includes the following sections: Financial Highlights, Chairman's Statement, Directors and Senior Management, CEO's Review, and others.
The Chairman's Statement discusses CLP's financial performance in 2008, noting operating earnings increased 4.6% to HK$9.7 billion while total earnings declined only 1.7% to HK$10.4 billion despite a significant reduction in permitted returns from the Hong Kong electricity business under a new Scheme of Control agreement. The Board recommended a final dividend of HK$0.92 per share, maintaining the total dividend at HK$2.48 per share.
The Chairman focuses on political and regulatory
1) The document summarizes Teekay LNG Partners' first quarter 2012 earnings presentation. It reported a 30% increase in distributable cash flow from the same period last year.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February through a joint venture.
3) Strong LNG demand growth from Japan is leading to higher shipping rates in 2012 after Japan's nuclear plants were taken offline, increasing LNG imports.
4) Teekay LNG Partners has strong liquidity of $440 million as of March 31, 2012 and no near-term debt maturities, giving it a solid financial position.
1) The company reported strong financial results in the first quarter of 2012, with distributable cash flow up 30% compared to the same period in 2011.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February that expanded its fleet.
3) Japanese LNG imports increased 24% in the first quarter compared to the previous year due to all nuclear power plants being offline, leading to higher shipping rates and a positive outlook for the LNG shipping industry in 2012.
The document provides a quarterly financial report for SpareBank 1 Gruppen. Some key points:
- Pre-tax profits increased significantly compared to the same quarter last year, reaching MNOK 553 for the first three quarters of 2012 compared to MNOK 248 for the same period in 2011.
- The return on equity was 12.7% for the first three quarters compared to 7% for the same period last year.
- Total assets increased to NOK 46.6 billion from NOK 42 billion at the end of 2011.
- Capital adequacy ratios remained strong and above regulatory requirements.
The annual report summarizes Computacenter's financial performance in 2009. Key points include:
- Adjusted profit before tax increased 25.8% to £54.2 million.
- Net funds before customer specific financing increased £81.8 million to £86.4 million.
- The ERP implementation, a group-wide project, remained on plan and budget.
- Customers gave the company high and improved satisfaction ratings.
- The Chairman expresses satisfaction with progress made in 2009 focusing on profitability, working capital optimization, and cash flow while investing in people, processes, and systems.
This document summarizes Hexion's second quarter 2007 earnings conference call. The summary includes:
- Hexion delivered strong revenue and EBITDA growth compared to the prior year period due to global diversification offsetting weakness in North American markets.
- Synergies from acquisitions are on track to achieve $175 million target.
- Hexion entered into a definitive merger agreement with Huntsman Corporation on July 12, 2007 to create one of the world's largest chemical companies, pending regulatory and shareholder approval.
The document is the 2004 annual report of WPS Resources Corporation. It discusses the company's financial performance in 2004 including increased revenues, net income, and earnings per share compared to 2003. It highlights projects and agreements signed in 2004 that will benefit future energy supply, environmental stewardship, and partnerships. These included a new power plant construction, renewable energy contracts, and long-term supply agreements. The report also notes the company's focus on delivering value to shareholders through earnings growth, dividend payments, and shareholder returns.
The document provides a letter from the Chairman of Interpublic Group to shareholders summarizing the company's performance in 2003 and outlining plans for the future.
The key points are:
1) 2003 was a year of transition as Interpublic stabilized the company and began a turnaround, though financial results were disappointing due to restructuring charges.
2) Significant progress was made strengthening the balance sheet and improving financial accountability.
3) Restructuring efforts improved margins and the company is on track to achieve margin targets.
4) Initiatives to boost organic growth and recruit top talent showed early success and will be important drivers of future performance.
5) Interpublic is well positioned to capital
Abengoa presented its 2011 earnings and provided an outlook for 2012. Key highlights included:
- Revenues increased 46% to 7,089 million euros and EBITDA grew 36% to 1,103 million euros in 2011.
- The company's backlog remained strong at 7.5 billion euros at the end of 2011.
- Abengoa is diversifying its business across regions and sectors through new projects in the solar, transmission, and water industries.
- The company aims to further reduce debt and continue growing through international expansion in 2012.
The document provides Sony's consolidated financial results for FY2011 and Q4 FY2011, as well as forecasts for FY2012. Key highlights include:
- Sales and operating income decreased in FY2011 due to unfavorable foreign exchange rates, the impact of natural disasters, and deteriorating market conditions. A large net loss was recorded.
- Sales were forecast to increase 14% in FY2012, with an operating income forecast due to improvements in Consumer Products & Services and Professional, Device & Solutions segments.
- Results by segment showed lower sales and losses in Consumer Products & Services and Professional, Device & Solutions in FY2011, with forecasts of recovery in FY2012.
This document summarizes CNO Financial Group's financial and operating results for the 4th quarter of 2012 ending December 31, 2012. It discusses growth in core earnings and sales across all business segments. CNO continued investing in distribution and new product offerings while maintaining strong capital levels and returning value to shareholders through stock repurchases and dividends. The outlook expects further sales growth through expansion of locations, agents, and products in 2013.
ANFO-seminar - Blogging - Case SpareBank 1-bloggen Penger og livet Christian ...Christian Brosstad
6 tips om bedriftsblogging.
Case: SpareBank 1-bloggen Penger og livet – Nordens første bankblogg
Christian Brosstad, informasjonsdirektør, SpareBank 1 Gruppen AS
ANFO-seminar Content Based Marketing, Oslo, 2. november 2010
Annonsørforeningen 2010
Utdrag fra forelesning på Handelshøyskolen BI torsdag 21. oktober 2010.
Christian Brosstad, informasjonsdirektør , SpareBank 1 Gruppen AS
Stor takk til - som kilder og inspirasjon: Bloggskolen.no, Ole Emil Johnsen og SpareBank 1.
De 6 viktigste trendene - og cases. Kundekommunikasjon og sosiale medier. Chr...Christian Brosstad
Her er oppdatert presentasjon som ble brukt på tre forskjellige seminarer siste uken: Nets betalingskonferanse i Tønsberg, Rygge-Vaaler Sparebank og SpareBank 1 Oslo Akershus kundesenter.
Sosiale medier i næringslivet - Se presentasjonen fra Ciscos Women's Action N...Christian Brosstad
Her finner du presentasjonen fra følgende seminarer:
Ciscos Women's Action Network og Od@-nettverket, Oslo, 2. februar 2010
Innovasjon Norge og TV2
Bergen - 11. februar 2010
SpareBank 1 Buskerud-Vestfold
Oslo - 18. februar 2010.
1) Adelaide lost the opportunity to host the inaugural Asia-Pacific climate change summit attended by Condoleezza Rice because a secure venue could not be organized for the high-powered delegation on such short notice.
2) The preferred site, Government House, was unavailable in November as originally scheduled, forcing the Federal Government to abandon its plans to hold the summit in Adelaide.
3) As a major blow to Foreign Affairs Minister Alexander Downer, who wanted his home city to host the historic meeting, the forum will now be held in either Sydney or Canberra next year due to security issues and the logistics of bringing all international delegates together at one time precluding Adelaide as the host city.
The pre-tax profit for SpareBank 1 Gruppen doubled in 2012 compared to 2011. Net profit was lower due to a large one-time tax effect from new life insurance tax rules. All business areas improved except ODIN and SpareBank 1 Gruppen Finans. SpareBank 1 Livsforsikring had a record high profit from improved administration and risk results. SpareBank 1 Skadeforsikring significantly improved results from higher investment income and a lower claims ratio. SpareBank 1 Markets strengthened its bond market position. ODIN's results were hurt by one-time restructuring costs. SpareBank 1 Gruppen Finans faced margin pressure in factoring and weak debt collection markets
1) SpareBank 1 Gruppen reported significantly improved profits for the first quarter of 2011, with pre-tax profits of NOK 162 million, up from NOK 131 million in the same period the previous year.
2) Good investment returns contributed to strong profits of NOK 129 million in SpareBank 1 Livsforsikring, up from NOK 92 million the previous year.
3) Fewer winter-related insurance claims led to an improved claims ratio for SpareBank 1 Skadeforsikring.
Presentation of results from SpareBank 1 Gruppen - 1st half-year and 2nd quar...SpareBank 1 Gruppen AS
1) The SpareBank 1 Gruppen reported a pre-tax profit of NOK 308 million for the first half of 2011, down slightly from NOK 295 million in the same period in 2010. Profit after tax was NOK 249 million.
2) SpareBank 1 Skadeforsikring Group saw good portfolio growth of NOK 277 million or 5.9% in the first half of 2011. However, its pre-tax profit was impacted by large claims in Q1 and flood damage in Q2.
3) Overall, the SpareBank 1 Gruppen reported improved underlying earnings, but weak equity markets and natural disasters lowered profits compared to the previous year.
Q4 2008 Financial results for SpareBank 1 Gruppen presented by acting CEO Kir...SpareBank 1 Gruppen AS
- The pre-tax loss for SpareBank 1 Gruppen in 2008 was MNOK -724, down from a profit of MNOK 1,179.8 in 2007, largely due to losses at SpareBank 1 Livsforsikring from negative investment results and one-off write-downs.
- Bank 1 Oslo had an underlying profit but overall pre-tax profit of MNOK 4 due to write-downs of securities and increased loan losses.
- Capital adequacy and core ratios remain solid at 12.0% and 9.0% respectively.
The document summarizes Generali Group's 2012 financial results. Key points include:
- Operating result increased 10.5% to €4.2 billion, while operating RoE rose to 11.9%.
- Life business premiums grew 3.1% to €46.8 billion despite challenging markets. Operating result increased 9.7% to €2.7 billion through improved technical margins and investment returns.
- Impairment charges of €1.4 billion were taken in Q4 2012 to align impairment criteria with European peers, reducing net income 89.5% to €90 million.
- A new management team and remuneration structure was put in place to focus on the
Nationwide had a record year in 2006, earning over $2.1 billion in net income. This performance was driven by growth across its business segments, favorable weather conditions, and lower than expected auto losses. Nationwide's property and casualty operations and financial services businesses performed well. Nationwide remains committed to helping customers protect what matters most through a variety of insurance and financial products. It continues to focus on building its capital strength and extending its customer-focused mission.
This document discusses Ecolab's financial performance in 2000. Key points include:
- Net sales reached nearly $2.3 billion, a 9% increase over 1999, due to business acquisitions, new products, and growth in core businesses.
- Operating income was a record $343 million. Excluding unusual items, operating income rose 12% to $324 million, or 14.3% of net sales.
- Net income was $206 million. Excluding unusual items, net income increased 13% to $198 million, or 8.7% of net sales, reflecting strong operating income growth and a lower tax rate.
- The company continued its trend of strong financial results and
1) Global Financial Review reported that EBIT rose 11% from 1999 to 2000 due to strong sales growth and cost-cutting initiatives. EBIT also increased 10% from 1998 to 1999.
2) Gross profit margin increased to 54.4% in 2000, above both 1999 and 1998 levels, reflecting the company's strategy to improve its supply chain and focus on higher margin products.
3) Selling, general and administrative expenses declined slightly as a percentage of sales due to continued expense containment efforts, though this was offset by higher advertising costs.
Hexion Specialty Chemicals reported financial results for the fourth quarter and fiscal year 2007. Revenue increased 13% in the fourth quarter and 12% for the fiscal year. Operating income was $21 million for the quarter, impacted by $40 million of asset impairments and manufacturing issues, and $302 million for the fiscal year, up 22% excluding gains. Segment EBITDA increased 2% for the quarter to $125 million and 17% for the fiscal year to $611 million. Hexion remains on track to achieve $175 million in targeted synergies and had a strong liquidity position at year-end.
Hexion Specialty Chemicals reported financial results for the fourth quarter and fiscal year 2007. Revenue increased 13% in the fourth quarter and 12% for the fiscal year. Operating income was $21 million for the quarter, impacted by $40 million of asset impairments and manufacturing issues, and $302 million for the fiscal year, up 22% excluding gains. Segment EBITDA increased 2% for the quarter to $125 million and 17% for the fiscal year to $611 million. Hexion remains on track to achieve $175 million in targeted synergies and had a strong liquidity position at year-end.
Garanti Bankası Earnings Presentation-BRSA Consolidated Financials December 3...Garanti Bank
This document provides a summary of BRSA's consolidated earnings presentation for the fourth quarter of 2012. Some key points:
- BRSA reported a net income of TL 3.729 billion in 2012 but adjusted net income excluding one-time effects was TL 3.030 billion, an increase of 23% over 2011.
- Core banking revenues grew, with net interest income excluding CPI linkers up 26% year-over-year and continuously growing fee income.
- Gross cost of risk remained below 100 basis points as expected, and prudent provisioning was maintained despite pressured profitability.
- Adjusted return on average equity was 18.9%, underscoring BRSA's sound core banking performance
Garanti Bankası Earnings Presentation-BRSA Unconsolidated Financials December...Garanti Bank
This document provides an earnings presentation for BRSA Bank for the fourth quarter and full year of 2012. Some key highlights include:
- Net income increased 25% year-over-year on a comparable basis, with a focus on improving core banking revenues and prudent provisioning.
- The bank leveraged its reduced securities holdings into higher-yielding loans, with a focus on profitable retail products like mortgages and auto loans.
- The loan portfolio composition became increasingly customer-driven, while the liquidity and funding positions remained strong, with low-risk deposits making up two-thirds of total deposits.
- Overall, the results demonstrated sound core banking performance and sustained profit generation based on strong fundamentals.
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Presentation SpareBank 1 Gruppen Q2- 2012 English Version
1. Q2
1st half-year and 2nd quarter 2012
Presentation of results
from SpareBank 1 Gruppen
Kirsten Idebøen, CEO
9 August 2012
2. Year-to-date profit in line with last year
Pre-tax profit Group quarterly (MNOK) • Pre-tax profit for 1st half-year: MNOK 296 (308)
Pre tax half year:
Q1 Q2 • Net profit for 1st half-year: MNOK 263 (249)
173
162
• Annualised return on equity:
145
10.5 (10.5) %
123
•G
Group’s total assets were NOK 45.2 billi
’ t t l t 45 2 billion,
compared to NOK 42.0 billion at year-end 2011
• Good solvency:
– Capital adequacy ratio: 15.9 % against 16.2
% as at 31.12.2011
2011 2012 – Core capital adequacy ratio: 14.5 % against
14.6
14 6 % as at 31.12.2011
t 31 12 2011
– Well capitalised to satisfy the new, stricter
capital requirements upon introduction of the
Solvency II regulations
y g
2
3. Financial performance per business area
• SpareBank 1 Livsforsikring has built up
Pre-tax profit per subsidiary (MNOK) further reserves during 1st half-year.
Administration result continued to improve.
238 236 236
1H2011
1H2012
• Good financial result and improved
insurance result contributed to a
significantly improved profit for Sparebank
g y p p p
1 Skadeforsikring.
107
• A decrease in total assets under
management in ODIN Fo altning gave
Forvaltning ga e
24 reduced management fees.
10 14
-2
• SB1G Finans: strong pressure on margins in
-26
factoring and weaker performance in debt
-90
collection market, but good growth in
portfolio business.
ans
ade
ets
SB1 Liv
L
SB1 Marke
SB1G Fina
SB1 Ska
ODIN
• Higher turnover in SpareBank 1 Markets,
despite reduced activity in the financial
markets. Strengthened market share in
bond
b d market during the course of Q2.
k d h f Q2
3
4. SpareBank 1
Livsforsikring
Improved administration result and
increased b ffe
inc eased buffer capital
4
5. SpareBank 1 Livsforsikring
Improved administration result and increased buffer
capital
• Pre-tax profit: MNOK 236 (238) for 1st half-year and
MNOK 142 (109) in Q2
P t
Pre-tax profit (MNOK) quarterly
fit (MNOK), t l
Q1 • Administration result: MNOK -26 (-43) for 1st half-year
Q2 and MNOK -19 (-24) in Q2
Q3 – Stable ope at g costs a d increased income from fees
Stab e operating and c eased co e o ees
Q4 142
129
• Risk result: MNOK 122 (140) for 1st half-year and MNOK
109 93 (70) in Q2
100 98
92 94 – Strong risk result in Q2 after Q1 saw some large compensation
86 payments
78
72
– Increased reserves in connection with disability compensation
reduced year-to-date risk result
• Investment result: MNOK 120 (314) for 1st half-year and
MNOK 47 (108) in Q2
– MNOK 42 allocated to strengthen provisions for longer life
2010 2011 2012 expectancy
– Net foreign exchange loss of MNOK 11 has been realised in the
year-to-date. In comparison last year saw a total gain on
forward exchange of MNOK 156
– At the end of 1st half-year 2012, the securities adjustment
reserve totalled MNOK 390, against MNOK 185 at year-end 2011
5
6. SpareBank 1 Livsforsikring
The company built up further buffers during 1st half-year
half year
Buffer capital trend, per quarter (%)
Buffer capital trend, per quarter (%) Securities adjustment reserve (MNOK)
14.6 % 15.2 % 14.8 %
14.0 % 14.1 % 617
12.8 %
11.0 %
390
327
185
Q4 Q1 Q2 Q3 Q4 Q1 Q2
2010 2011 2011 2011 2011 2012 2012
Core capital in excess of minimum Interim profit 2009 2010 2011 1H2012
Additional provisions Securities adjustment reserve
• Total assets: NOK 28 (27) billion • From the securities adjustment reserve:
– MNOK 182 belongs to the ordinary group
portfolio
• Capital adequacy ratio: 20.0 % against 18.5 % as
Cap ta at o 0 0 aga st 8 5 – MNOK 76 belongs to paid up policy portfolio
paid-up
at 31.12.2011
– MNOK 131 belongs to the portfolio for
– The entire subordinated loan comprises core capital previously established individual savings
– Estimated solvency margin of 320.5 %, compared to products
303.5 % at year-end 2011
year end
6
7. Asset allocation per portfolio as at 30/06/2012
(31/12/11)
SB1 Livsforsikring SB1 Skadeforsikring Group
Investment choice portfolio Group portfolio Company portfolio
0.0 (0.0) %
12.9 (13.8) % 1.0 (-4.5) % 10.3 (10.4) %
( )
0.0 (0.0) %
38.9 (37.4) % 0.5 (-0.2) % 20.9 (18.8) % 8.2 (7.9) % 12.2 (12.7) %
45.7 (45.9) %
54.3 (54.2) % 61.1 (60.9) %
19.8 (21.0) %
27.9 (28.0) % 16.9 (24.8) %
0.0 (-0.1) %
69.3 (69.0) %
Stocks Stocks
Other Other Stocks Other
Stocks Other Bonds Real estate Real estate Real Estate Bonds at amortised cost
Bonds - amortized cost Bonds - amortized cost
Bonds at Market value
Bonds - market value Bonds - market value
NOK 7.5 (6.9) billion NOK 16.4 (15.7) billion NOK 2.8 (2.9) billion NOK 10.0 (9.6) billion
7
8. SpareBank 1 Livsforsikring
New occupational p
p pension pproducts are expected as of 01/01/2014
p / /
Basic model Standard model
• Maximum premiums: 7% of salary up to 7.1G* and • Maximum premiums: 8% of salary up to 7.1G* and
25.1% of salary from 7.1G-12G 26.1% of salary from 7.1G-12G
• The company must guarantee an annual adjustment of • No guaranteed return, meaning employees bear some
the saved capital equal to wage inflation against it return risk. Returns are paid to employees.
receiving the returns on pension capital
• Slightly more advanced on the return side than the
• Similar to the current defined contribution pension in basic model
SpareBank 1 Livsforsikring with the exception of
mortality inheritance
SpareBank 1 Livsforsikring views the new occupational pension models positively
• Lower Solvency II requirements than under current regulations
• 0% annual guarantee and reduced risk due to longer life expectancy (life expectancy
adjustment)
• The transition from current defined benefit pensions to the hybrid product will require
advisory services because there are many options when it comes to the choice of model,
size of premiums and guarantees. The SpareBank 1-alliance will have a greater
opportunity to strengthen its role within the pensions area
*G= National insurance basic amount
8
10. SpareBank 1 Skadeforsikring Group
Good financial result and improved insurance result
Pre tax profit
Pre-tax profit, quarterly (MNOK)
308 Q1 • Pre-tax profit: MNOK 236 (107) for 1st half-year
254
Q2 and MNOK 70 (56) in Q2
Q3
Q4
• Insurance result*: MNOK 12 (-22) for 1st half-year
168 166
and MNOK 31 (8) in Q2
– Lower claims ratio for both PM and BM in the parent
company
70
50 56
36 43
• Net financial income: MNOK 245 (162) for 1st half-
year and MNOK 51 (67) in Q2
– Financial return: 2.5 (1.8) %
-89
2010 2011 2012 • Portfolio growth in 1st half year 2012 of 4 0 %, to
half-year 4.0 %
NOK 5.4 billion.
* Insurance result in 1st half-year 2011 and 2012 includes
Unison F
U i Forsikring
ik i
10
11. SpareBank 1 Skadeforsikring Group
Good underlying profitability in main products and lower
proportion of large claims
Combined ratio for own account – quarterly (%) Combined ratio for own account (%)
105.5 105.8 103.5 96.9*
100.3 101.9 100.7 101.6 97.7 99.0 93.4*
96.5 94.0 96.2
92.9 21.1
89.8 21.9 22.9
23.8 22.4 21.3 21.0 21.8
26.0 22.3 22.5
17.1 21.9
22.7
22 7
83.6 79.4
79 4 84.7 80.4
75.9
75 9 76.6
76 6 74.7
74 7 74.1
74 1
67.1 76.7 80.6
72.1 73.8 77.2
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2010 2010 2010 2011 2011 2011 2011 2012 2012
2008 2009 2010 2011 1H2012
Net claims ratio Net cost ratio
Net claims ratio Net cost ratio
- Lower total claims ratio in both PM and BM in the parent company
- Lower proportion of large claims in BM portfolio in year-to-date * Combined ratio for own account for respectively 2011 and 1st
half-year 2012 including personal insurance
Gross combined ratio for 1st half-year was 99.8% (claims ratio of 78.5% and cost ratio of 21.3%). Including personal
insurance, the combined ratio in 1st half-year is reduced to 93.2%, of which the claims ratio accounts for 72.0% and the
cost ratio 21.2%
11
12. SpareBank 1 Skadeforsikring Group
Good portfolio growth in 1st half-year 2012
half year
Portfolio growth per year (MNOK)
5 407
• Total portfolio growth of MNOK 209 (277) to
NOK 5.4 (5.0) billion as at 30/06/2012,
equivalent to a growth of 4.0 %
3 358
– Unison Forsikring saw growth in 1st half-year of
MNOK 69 (97)
– Portfolio growth in the Group in Q2 alone amounted
to MNOK 79 (161)
• Net earned premium of NOK 2 5 (2.2) billion,
2.5 (2 2) billion
04
30.06.20 12
2011
05
06
07
08
09
10
31.12.200
200
200
200
200
200
201
corresponding to a growth of 11.3 %
12
14. SpareBank 1 Markets
Visible effects from result-oriented work
Results SB1 Markets - Market share bond issues
• Total turnover 12 %
• 1st half-year: MNOK 73 (58), up 25 %
• Q2: MNOK 40 (24), up 70 %
• Pre tax
Pre-tax profit 5%
• 1st half-year: MNOK -90 (-26)
3% 3%
2%
• Q2: MNOK -45 (-22) 1%
Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012
MARKET SHARE
Q2 2012
BOND ISSUE
DNB 23%
Swedbank / First Securities 20%
Nordea 14%
Operational matters SEB Merchant Banking 13%
SpareBank 1 Markets 12%
• Goal of profitable operations from Q4 stand firm Danske Bank 5%
provided normalised markets. AGB Sundal Collier 5%
Handelsbanken 4%
• Cooperation with SpareBank 1 SMN on rated
SpareBank 1 can, through SpareBank 1
balance sheet is operative and has had Markets, provide the entire capital
immediate effects on the company's market structure, from bank loans to bonds and
share and in the bond market. equity
Source: Norsk Tillitsmann
14
15. O
ODIN Forvaltning
o a g
Nine out of twelve equity funds performed better
than their benchmark in 1st half-year
15
16. ODIN Forvaltning
Nine out of twelve equity funds performed better than
their benchmark in 1st half-year
• Pre-tax profit for 1st half-year: MNOK -2 (24)
Pre tax half year: 2
Pre-tax profit (MNOK), quarterly – Management fees totalled MNOK 131 (172)
17 17 16
14 Q1
• Pre-tax profit for Q2: MNOK -1.5 (12)
Pre tax 1.5
12 12 Q2
Q3 • Total assets under management of NOK 23.5
6
Q4 / /
billion as at 30/06/2012
– Reduced by NOK 6.6 billion from 30/06/2011
– Increased by NOK 0.1 billion from 31/12/2011
-0.5
-1.5 • 8.4 % market share for equity funds in 1st
half-year 2012, down 0.5 percentage points
-9
from year-end 2011
2010 2011 2012
• 4.1 % market share for combination funds
for 1st half-year 2012, up 0.3 percentage
points from 31/12/2011
16
17. ODIN Forvaltning
Nine out of twelve equity funds performed better than
their benchmark in 1st half-year. New CEO
Return on equity fund as at 30/06/2012 (%)
q y / / ( )
11.6 Fund Benchmark
8.8 8.2 8.8
7.1 6.9
6.2 5.7 5.8
5.3 5.4 5.3
4.7 4.6
3.9
2.8 2.9 3.0
1.9 1.8
18
-0.6
-2.2 -1.6
-7.5
ODIN ODIN ODIN ODIN ODIN ODIN ODIN ODIN ODIN ODIN ODIN ODIN Rune S l
R Selmar h been appointed the
has b i t d th
new CEO of ODIN Forvaltning
Norden Finland Norge Sverige Maritim Offshore Eiendom I Europa Europa Global Global Emerging
SMB SMB Markets
• ODIN has signed up to the UN's Principles for Responsible Investment (PRI)
− The UN's Principles for Responsible Investment set out six rules for a sustainable,
socially responsible and owner-managed i
i ll ibl d d investment philosophy
t t hil h
− The goal of signing up to the principles is to promote sustainable value creation
through active corporate governance and by increasing value for the company and
society's investments
17
18. SpareBank 1 Gruppen Finans Group
Continued focus on growth and cost-efficiency
18
19. SpareBank 1 Gruppen Finans Group
Continued focus on growth and cost-efficiency
cost efficiency
Pre-tax profit (MNOK)
• SpareBank 1 Gruppen Finans Group reported a p
p pp p p pre-tax
14.2 profit for 1st half-year of MNOK 14.2 (9.8)
1H2011 12.2
11.6 • Higher costs in the factoring business area reduced the
y
year-to-date result somewhat, MNOK 4.4 (4.9)
, ( )
1H2012
9.8 − Good growth in turnover in Q2 helped to improve pre-tax profit in
the quarter of MNOK 2.7 (2.1)
− Factoring's market share continued to grow; market share as at
Q2 2012 of 14.6 % against 14.1 % as at 31/12/2011
4.9
4.4 • Good growth in portfolio (long-term monitoring) due to
3.8 new portfolio acquisitions in 1st half-year
− Pre-tax profit: MNOK 3.8 (1.6) in 1st half-year and MNOK 1.2
1.6 (0.4)
(0 4) in Q2
• Weak growth in the debt collection market
factoring portfolio Conecto SB1G Finans − Pre-tax profit: MNOK 11.6 (12.2) in 1st half-year and MNOK 7.0
(debt Group (5.1) in Q2
collection)
− Low debt collection income in year-to-date, but improved result
in Q2 alone due to the sale of a larger portfolio
Pre tax
Pre-tax profit for SpareBank 1 Gruppen Finans Group also includes
management and amortisation.
19
20. Outlook
SPAREBANK 1 GRUPPEN
• SpareBank 1 Skadeforsikring has started a number of measures aimed at improving
profitability.
profitability The effect of the measures has been satisfactory so far and is expected to
increase throughout 2nd half-year.
• SpareBank 1 Livsforsikring is well positioned with respect to the opportunities that will
open up in the pension market in the future due to the new occupational pension
policy that will take effect from 01/01/2014.
• The Group will continue its work on cooperation right across the companies to extract
efficiency gains within costs, income and know-how.
• At the start of 2nd half-year, considerable uncertainty exists concerning the
macroeconomic trends in Europe and how this will affect the financial markets.
SpareBank 1 Gruppen is exposed to the securities market through its various
subsidiaries, and the development of equity prices and interest rates will have a major
effect on the Group s earnings
Group's earnings.
• SpareBank 1 Gruppen is well equipped to face new capital requirements in relation to
the introduction of the Solvency II.
20
23. SpareBank 1 Alliance
SpareBank 1 SpareBank 1 SpareBank 1 Sparebanken Samarbeidende
LO (Trade Union)
SR-Bank SMN Nord-Norge Hedmark Sparebanker
(10%)
(19.5%) (19.5%) (19.5%) (12%) (19.5%)
SpareBank 1 Gruppen AS
SpareBank 1 ODIN
SpareBank 1 Markets
Livsforsikring Forvaltning
(97.47%)
(100%) (100%)
Alliance Cooperation
SpareBank 1 SpareBank 1 SpareBank 1
Medlemskort Gruppen Finans Skadeforsikring
(100%) (100%) (100%)
Broad cooperation
- Technology
/
- Brand/communication
Conecto
Unison Forsikring - Expertise
(100%) - Common processes and use of best practice
(100%)
- Purchasing
Regional competence centres
(Bank-owned companies)
- Payment services: Trondheim
SpareBank 1 Boligkreditt
EiendomsMegler 1 - Credit: Stavanger
BNbank - Training: Tromsø
SpareBank 1 Oslo og Akershus
23
24. Return on equity after tax among selected Nordic
financial institutions
Average
1H2012 2011 2010 2009 2009-2011
Gjensidige* 17.7% 11.9% 13.1% 11.1% 12.0%
Handelsbanken 14.0% 13.5% 12.9% 12.6% 13.0%
Nordea 12.1% 10.6% 11.5% 11.3% 11.1%
DNB 10.7% 11.4% 13.6% 10.6% 11.9%
SpareBank 1 Gruppen 10.5% 11.1% 18.7% 18.1% 16.0%
Storebrand 9.1% 6.0% 10.8% 8.2% 8.3%
Danske Bank 3.6% 1.4% 3.6% 1.7% 2.2%
* Calculated as net profit distributed over average equity.
Source: The companies' interim reports for 1st half-year 2012
24
25. SpareBank 1 Gruppen
Key figures
Q2 Q1 Q4 Q3 Q2 Q1 Year
2012 2012 2011 2011 2011 2011 2011
Groupp
Net result for the period (MNOK) 63.4 199.9 281.5 -4.8 97.2 151.9 525.8
Return on equity (%) 10.5 % 15.9 % 23.2 % -0.3 % 8.1 % 12.9 % 11.1 %
Capital adequacy ratio, cumulative (%) 15.9 % 14.8 % 16.2 % 16.3 % 16.2 % 16.1 % 16.2 %
Core capital adequacy ratio, cumulative (%) 14.5 % 13.1 % 14.6 % 14.0 % 13.9 % 12.6 % 14.6 %
SB1 Livsforsikring
Risk result (MNOK) 92.6 29.4 38.5 63.5 70.1 69.4 241.4
Administration result (MNOK) -19.0 -7.5 -3.2 -19.8 -24.2 -18.7 -65.9
Investment result (MNOK)
I t t lt 47.0
47 0 73.2
73 2 3.1
31 51.6
51 6 108.0
108 0 205.8
205 8 368.5
368 5
Net result for the period (MNOK) 89.1 125.8 193.7 114.6 73.8 129.9 511.9
Buffer capital in % of insurance provisions*, cumulative (%) 14.8 % 12.8 % 11.0 % 14.1 % 14.0 % 15.2 % 11.0 %
Capital adequacy ratio, cumulative (%) 20.0 % 17.5 % 18.5 % 18.5 % 17.1 % 19.2 % 18.5 %
Securities adjustment reserve, cumulative (MNOK) 389.6 465.9 184.9 13.0 326.3 448.2 184.9
SB1 Skadeforsikring Group
Operating result before finance (MNOK) 31.1 -19.5 -15.5 0.0 8.2 -29.9 -37.3
Net financial income (MNOK) 51.0
51 0 194.0
194 0 160.8
160 8 -62 3
62.3 66.8
66 8 95.1
95 1 260.3
260 3
Net result for the period (MNOK) 42.2 139.5 90.8 -81.7 41.8 39.8 90.7
Claims ratio, net (%) 74.1 % 80.4 % 74.7 % 84.7 % 79.4 % 83.6 % 80.6 %
Cost ratio, net (%) 22.3 % 21.3 % 26.0 % 21.1 % 22.4 % 21.9 % 22.9 %
Combined ratio, net (%) 96.5 % 101.6 % 100.7 % 105.8 % 101.9 % 105.5 % 103.5 %
Portfolio (MNOK) 5,407 5,328 5,198 5,092 4,986 4,825 5,198
ODIN Forvaltning
Management fees (MNOK)
a age e t ees ( O ) 63
63.4 6
67.2 6 8
61.8 69
69.4 85 5
85.5 86 8
86.8 303 5
303.5
Net result for the period (MNOK) -1.0 -0.3 -7.0 4.3 8.9 8.6 14.8
Total assets under management, cumulative (MNOK) 23,541 26,173 23,433 22,539 30,101 33,348 23,433
Market share equity fund, cumulative (%) 8.4 % 8.9 % 8.9 % 8.8 % 9.9 % 10.6 % 8.9 %
Market share combination fund, cumulative (%) 4.1 % 3.8 % 3.8 % 3.8 % 3.5 % 3.2 % 3.8 %
SB1 Markets
Total operating income (MNOK) 40.0 32.9 15.3 12.6 23.5 34.8 86.3
Net result for the period (MNOK) -32.6 -32.5 -57.4 -37.3 -15.9 -2.4 -113.1
SB1G Finans Group
Net result for the period SB1G Finans Group (MNOK) 5.4 4.9 4.4 8.4 1.8 4.5 19.1
Net result for the period SB1G Finans - parent company (MNOK) 1.0 2.2 4.1 3.7 0.1 1.4 9.3
Net result for the period Conecto (MNOK) 5.0 3.3 2.2 6.7 3.7 5.1 17.7
*) Buffer capital as at Q4 is shown after profits have been allocated
25
26. SpareBank 1 Gruppen
Result for 1st half-year 2012
half year
Q2 Q1 Q2 Half year Year
Figures in MNOK
Fi i 2012 2012 2011 2012 2011 2011
Part of result from subsidiaries before tax
- SpareBank 1 Livsforsikring 141.8 94.1 109.0 235.8 238.4 414.1
- SpareBank 1 Skadeforsikring Group 70.4 165.5 56.2 235.9 106.5 185.3
- ODIN Forvaltning -1.5
-1 5 -0.5
-0 5 12.2
12 2 -2.0
-2 0 24.1
24 1 21.8
21 8
- SpareBank 1 Markets -44.9 -44.8 -22.1 -89.7 -25.5 -154.8
- SpareBank 1 Medlemskort 2.4 2.8 2.5 5.2 5.6 12.1
- SpareBank 1 Gruppen Finans Group 7.5 6.8 3.0 14.2 9.8 27.9
- Correction Group -9.0 0.0 15.1 -9.0 14.2 28.6
Net result before tax from subsidiaries 166.6 223.8 175.9 390.5 373.1 535.1
Total operating costs (parent company) -26.1 -33.5 -15.6 -59.6* -43.2 -88.6
Net investment charges (parent company) -17.7 -16.8 -15.0 -34.5 -22.1 -59.3
Share of associated company 0.0 0.0 0.0 0.0 0.0 0.2
Pre-tax result 122.9 173.5 145.4 296.4 307.7 387.3
Taxes -59.5 26.4 -48.1 -33.1 -58.6 138.5
Net result for the period 63.4 199.9 97.2 263.3 249.1 525.8
Majority interest 64.2 200.7 98.0 264.9 250.4 529.8
Minority interest -0.8 -0.8 -0.8 -1.6 -1.3 -4.0
Half year Year
Key figures 2012 2011 2011
Annualised return on equity 10.5 % 10.5 % 11.1 %
*Of the total operating costs in the year-to-date 2012, MNOK 19 was due to the project aimed at establishing the Group's own card company, which is currently being run as project in the parent company.
Once the company is established, SpareBank 1 Gruppen AS will be refunded the project costs it has incurred.
26
27. SpareBank 1 Gruppen
Quarterly results
Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Figures in MNOK 2012 2012 2011 2011 2011 2011 2010 2010 2010 2010
Part of result from subsidiaries before tax
- SpareBank 1 Livsforsikring 141.8 94.1 98.1 77.7 109.0 129.4 72.5 85.8 100.3 91.9
- SpareBank 1 Skadeforsikring Group 70.4 165.5 168.1 -89.3 56.2 50.3 307.5 253.9 43.4 36.3
- ODIN Forvaltning -1.5 -0.5 -8.5 6.3 12.2 11.9 16.5 17.0 16.7 14.4
- SpareBank 1 Markets -44.9 -44.8 -77.5 -51.8 -22.1 -3.4 -24.0 -29.0 -1.9 -2.7
- SpareBank 1 Medlemskort
p 2.4 2.8 4.5 2.0 2.5 3.1 1.9 2.7 3.3 3.4
- SpareBank 1 Gruppen Finans Group 7.5 6.8 5.9 12.2 3.0 6.8 6.6 -4.9 7.0 -0.1
- Correction Group -9.0 0.0 -1.9 16.4 15.1 -0.9 -6.3 -7.4 16.3 15.1
Net result before tax from subsidiaries 166.6 223.8 188.6 - 26.6 175.9 197.1 374.6 318.1 185.1 158.2
Total operating costs (parent company) -26.1 -33.5 -29.4 -16.0 -15.6 -27.7 -16.5 40.7 -11.9 -20.0
Net investment charges (parent company) -17.7 -16.8 -19.2 -18.0 -15.0 -7.1 -15.6 -11.4 -9.3 -6.9
Share of associated company
p y 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Pre- tax result 122.9 173.5 140.1 - 60.6 145.4 162.4 342.5 347.4 163.9 131.3
Taxes -59.5 26.4 141.4 55.8 -48.1 -10.5 -18.5 -88.4 -8.3 -38.5
Net result for the period 63.4 199.9 281.5 - 4.8 97.2 151.9 324.0 259.1 155.6 92.8
Majority interest 64.2 200.7 283.1 -3.6 98.0 152.4 327.9 263.9 155.9 93.3
Minority interest -0.8 -0.8 -1.6 -1.1 -0.8 -0.5 -3.9 -4.8 -0.3 -0.5
27
28. SpareBank 1 Livsforsikring
Result for 1st half-year 2012
half year
Q2 Q1 Q2 Half year Year
Figures in MNOK
g 2012 2012 2011 2012 2011 2011
Insurance risk income 369.1 361.2 333.0 730.3 668.7 1,338.7
Insurance risk claims -266.2 -340.4 -252.6 -606.6 -508.2 -1,061.7
Risk result 102.9 20.7 80.4 123.6 160.6 277.0
Tecnical alloc ations -10.3 8.7 -10.3 -1.6 -21.1 -35.6
Risk result after tecnical allocations 92.6 29.4 70.1 122.0 139.5 241.4
Fees 180.9
180 9 184.8
184 8 172.8
172 8 365.7
365 7 343.5
343 5 708.6
708 6
Expenses, exclusive comissions -137.4 -128.6 -138.6 -265.9 -268.2 -527.2
Comissions -62.5 -63.7 -58.5 -126.2 -118.2 -247.3
Administration result -19.0 -7.5 -24.2 -26.4 -42.9 -65.9
Net investment income 153.1 188.6 207.3 341.7 526.4 791.1
Guaranteed interest to policyholders -106.1 -115.4 -99.2 -221.5 -212.5 -422.6
Investment result 47.0 73.2 108.0 120.2 313.8 368.5
Reserves -10.3 -31.3 0.0 -41.6 -33.0 -187.3
Investment result after reserves 36.7 41.9 108.0 78.6 280.8 181.2
Compensation guaranteed interest 6.1 6.3 5.9 12.4 11.3 22.6
Result before additional provisions 116.6 70.1 159.8 186.6 388.7 379.4
Undistributed profits to customers
p -27.7 -15.2 -60.0 -42.9 -178.9 -61.5
Return on company's assets 52.9 39.2 9.2 92.1 28.7 96.2
Net profit to owner before tax 141.8 94.1 109.0 235.8 238.4 414.1
Taxes -52.6 31.7 -35.3 -20.9 -34.7 97.8
Net profit/loss for the period 89.1 125.8 73.8 214.9 203.6 511.9
Key figures Half year Year
2012 2011 2011
Capital adequacy ratio 20.0 % 17.1 % 18.5 %
Buffer c apital in % of insurance provisions 14.8 % 14.0 % 11.0 %
Buffer capital for the year 2011 is shown after profits have been allocated
28
29. SpareBank 1 Livsforsikring
Profit per portfolio for 1st half-year 2012
Previously
P i l
Group established Investment choice Company
Figures in MNOK portfolio individual products portfolio portfolio Total
Risk result 123.8 -2.9 1.1 0.0 122.0
Administration result 33.8 -20.6 -39.6 0.0 -26.4
Net investment result 84.4
84 4 33.1
33 1 1.8
18 1.0
10 120.2
120 2
Reserves - long life -41.6 0.0 0.0 0.0 -41.6
Compensation interest guarantee 12.4 0.0 0.0 0.0 12.4
Transferred to policyholders -33.6 -6.5 -2.8 0.0 -42.9
Return on company's assets 0.0 0.0 0.0 92.1 92.1
Sum 179.2
179 2 3.2
32 -39.6
39 6 93.1
93 1 235.8
235 8
29
30. SpareBank 1 Livsforsikring
Premium income trend for 1st half-year 2012
half year
Q2 Q1 Q2 Half year Year
Figures in MNOK 2012 2012 2011 2012 2011 2011
Individual annuity and pension insurance 72.3 72.3 71.1 144.6 144.1 284.9
Individual endowment insurance 150.2 147.9 141.1 298.1 279.6 570.6
Group pension insurance 74.4 244.3 55.2 318.7 297.9 465.6
Individual life insurance 55.1 53.8 49.0 108.9 97.0 199.0
Group life insurance 132.2 239.1 131.5 371.3 348.9 604.4
Unit Linked - Annuity 8.5 9.3 9.5 17.9 20.2 39.0
Unit Linked - Endowment 35.2 36.7 46.6 71.9 98.2 181.1
Defined contribution pension 273.1 265.1 235.6 538.2 471.8 980.7
Total gross due premium income 801.1 1,068.5 739.5 1,869.6 1,757.7 3,325.5
p
Premium reserves transferred from other companies 194.7 102.4 113.5 297.0 255.5 660.8
Reinsurance ceded -41.2 -28.6 -40.8 -69.8 -81.1 -160.4
Premium income for own account 954.5 1,142.3 812.1 2,096.8 1,932.1 3,825.9
30
31. SpareBank 1 Livsforsikring
Return on customer portfolio with guarantee as at 30/06/2012
Value-adjusted return
excluding change i value construction:
l di h in l t ti Booked return:
Q1 Q2 Q1 Q2 Q1 Q2 Q1 Q2
2012 2012 2012 2012 2012 2012 2012 2012 Q1 Q2 Q1 Q2 Q1 Q2 Q1 Q2
2012 2012 2012 2012 2012 2012 2012 2012
3.5
3.0 2.8
2.8
2.6
2.4
2.2 2.2
ent
2.1
nt
Perce
Percen
1.9 1.8
1.7
1.3
1.2
0.9 1.0
SpareBank 1 Storebrand DNB Livsforsikring Nordea SpareBank 1 Storebrand DNB Livsforsikring Nordea
Source: company presentations
31
32. SpareBank 1 Livsforsikring
Return on ordinary customer portfolio with guarantee as at
30/06/2012
Percent
Norwegian shares 7.8
78
Foreign shares 7.5
Money market 1.8
Norwegian bonds 3.6
Foreig bonds 4.5
Held to maturity 2.6
26
Real estate 3.5
32
33. SpareBank 1 Livsforsikring
Balance sheet as of 30/06/2012
Half year Year
Figures in MNOK 2012 2011 2011
Intangible assets 134 80 107
Investments 2,851 2,569 2,881
Reinsurance's part of insurance obligations 207 221 223
Accounts receivable 90 117 225
Other assets 276 261 368
Prepayed liabilities and accrued income 0 0 0
Investments group portfolio 16,581 15,782 15,909
Investments options portfolio 7,451 6,782 6,896
Total assets 27,589 25,811 26,607
Paid in capital 2,073 1,602 1,825
Other equity 643 590 435
Subordinated loan capital 200 200 200
Insurance obligations - contractual 16,401 15,719 15,812
Insurance obligations - investment options 7,557 6,894 6,993
Provisions for obligations 73 176 88
Premium deposits from reinsurance companies 139 136 139
Other bli ti
Oth obligations 437 406 1,043
1 043
Accrued liabilities, prepaied income 67 88 73
Total liabilities and equity 27,589 25,811 26,607
33
34. SpareBank 1 Skadeforsikring Group
Result for 1st half-year 2012
half year
Q2 Q1 Q2 Half
H lf year Year
Y
Figures in MNOK 2012 2012 2011 2012 2011 2011
Gross written premium 1,431.1 1,713.1 1,380.6 3,144.2 2,933.9 5,358.2
Net earned premium 1,257.3 1,234.5 1,137.7 2,491.8 2,238.5 4,695.9
Net incurred claims -931.7 -992.3 -903.9 -1,924.0 -1,824.6 -3,784.0
Net insurance operating costs -281.0
281 0 -262.4
262 4 -255.2
255 2 -543.4
543 4 -496.3
496 3 -1,074.2
1 074 2
Other insurance income/costs 1.7 1.2 8.2 2.9 12.7 31.8
Changes in other technical reserves -15.1 -0.5 21.4 -15.6 47.9 93.2
Operating result before finance 31.1 -19.5 8.2 11.6 -21.7 -37.3
Net financial income 51.0 194.0 66.8 244.9 161.8 260.3
Result before changes in security reserve 82.1 174.5 75.0 256.6 140.1 223.0
Changes in security reserve -11.7 -9.0 -18.8 -20.7 -33.6 -37.7
Pre-tax profit 70.4 165.5 56.2 235.9 106.5 185.3
Taxes -28.2 -26.0 -14.4 -54.2 -25.0 -94.6
Net profit/loss for the period 42.2 139.5 41.8 181.7 81.6 90.7
Key figures Q2 Q1 Q2 Half year Year
Figures in percentage 2012 2012 2011 2012 2011 2011
Claims ratio, net 74.1 % 80.4 % 79.4 % 77.2 % 81.5 % 80.6 %
Cost ratio, net 22.3 % 21.3 % 22.4 % 21.8 % 22.2 % 22.9 %
Combined ti
C bi d ratio, net t 96.5
96 5 % 101.6
101 6 % 101.9
101 9 % 99.0
99 0 % 103.7
103 7 % 103.5
103 5 %
Capital adequacy ratio 34.1 % 29.0 % 32.8 %
34
35. ODIN Forvaltning
Result for 1st half-year 2012
half year
Q2 Q1 Q2 Half year Year
Figures in MNOK 2012 2012 2011 2012 2011 2011
Management fees
M tf 63.4
63 4 67.2
67 2 85.5
85 5 130.6
130 6 172.3
172 3 303.5
303 5
Total operating income 63.4 67.2 85.5 130.6 172.3 303.5
Salaries -25.9 -24.6 -27.5 -50.5 -56.6 -108.5
Depreciations -6.8 -6.5 -4.4 -13.3 -8.3 -23.5
Other operating costs -32.5 -36.9 -41.2 -69.4 -83.7 -151.1
Total operating costs -65.2 -68.0 -73.1 -133.2 -148.7 -283.1
Operating profit -1.8 -0.8 12.4 -2.6 23.6 20.3
Net financial income 0.4 0.3 -0.2 0.7 0.5 1.5
Pre-tax profit -1.5 -0.5 12.2 -2.0 24.1 21.8
Taxes 0.5 0.2 -3.3 0.6 -6.6 -7.1
Net profit/loss for the period -1.0 -0.3 8.9 -1.3 17.5 14.8
35