Presentation of results for first half of 2010 - SpareBank 1 GruppenSpareBank 1 Gruppen AS
1) SpareBank 1 Gruppen reported good results for the first half of 2010 despite challenging markets and high insurance claims in Q1.
2) The Delta profitability project is ahead of schedule and has improved net results by NOK 41 million in the first half of 2010.
3) In Q2 2010, SpareBank 1 Gruppen acquired new strategic positions through the purchase of Unison Forsikring ASA by SpareBank 1 Skadeforsikring AS and the acquisition of debt collection company Conecto AS by SpareBank 1 Gruppen Finans Holding AS.
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.
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 document summarizes JBS's consolidated results for 2008. It shows that JBS reduced its net debt to EBITDA ratio from 3.74x in 2007 to 1.95x in 2008 through an intense deleveraging process. Net revenue increased 114.5% to R$30.3 billion while EBITDA grew 95.6% to R$1.156 billion. JBS also proposed a threefold increase in dividend distribution to R$51.1 million. The company integrated several major acquisitions to grow its global production platform.
Presentation of results for first half of 2010 - SpareBank 1 GruppenSpareBank 1 Gruppen AS
1) SpareBank 1 Gruppen reported good results for the first half of 2010 despite challenging markets and high insurance claims in Q1.
2) The Delta profitability project is ahead of schedule and has improved net results by NOK 41 million in the first half of 2010.
3) In Q2 2010, SpareBank 1 Gruppen acquired new strategic positions through the purchase of Unison Forsikring ASA by SpareBank 1 Skadeforsikring AS and the acquisition of debt collection company Conecto AS by SpareBank 1 Gruppen Finans Holding AS.
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.
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 document summarizes JBS's consolidated results for 2008. It shows that JBS reduced its net debt to EBITDA ratio from 3.74x in 2007 to 1.95x in 2008 through an intense deleveraging process. Net revenue increased 114.5% to R$30.3 billion while EBITDA grew 95.6% to R$1.156 billion. JBS also proposed a threefold increase in dividend distribution to R$51.1 million. The company integrated several major acquisitions to grow its global production platform.
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.
1) SpareBank 1 Gruppen reported a pre-tax profit of NOK 387.3 million for 2011, down from NOK 985.1 million in 2010, due to weak financial markets and high claims.
2) SpareBank 1 Livsforsikring AS achieved its best result ever in 2011 despite falling markets, maintaining good buffers throughout the year.
3) SpareBank 1 Skadeforsikring Group had a negative insurance result in 2011 due to a high proportion of large claims, floods, and storms.
1) Independent Bank Corporation held a 1st quarter 2009 earnings conference call to discuss financial results and challenges.
2) Key highlights included a net loss of $18.6 million due to a $30.8 million loan loss provision and credit costs, but pre-tax core earnings grew sequentially.
3) Challenges included a weak Michigan economy, high credit costs, and a $43.7 million deferred tax asset valuation allowance, but the net interest margin expanded and regulatory capital ratios remained strong.
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.
Highlights of the fourth quarter of 2009. Net sales amounted to SEK 28,215m (28,663) and income for the period was SEK 664m (-474), or SEK 2.34 (-1.68) per share. Net sales declined by 1% in comparable currencies, due to continued weak markets.
- Texas Capital Bancshares reported financial results for Q1 2009 with net income available to common shareholders of $5.2 million, down 35% from Q1 2008. Earnings per share were $0.17, down 43% from the prior year.
- Key metrics like return on equity and return on assets declined from the prior year due to higher stockholders' equity and a challenging economic environment that has increased non-performing loans.
- Non-performing assets rose significantly, with non-accrual loans reaching $50.7 million, up from $13.6 million in Q1 2008. The company recorded an $8.5 million provision for loan losses.
Aon reported financial results for the third quarter of 2008. Total revenue grew 6% to $1.8 billion with organic revenue growth of 2%. Earnings per share from continuing operations increased 27% to $0.52. Key highlights included a 33% increase in adjusted EPS to $0.69, a 140 basis point increase in adjusted pretax margin to 15.1%, and 6% organic revenue growth in commissions, fees and other. The company also repurchased $426 million of shares and increased projected annual savings from restructuring programs.
fifth third bancorp 5033603C-B0AA-45B0-B2AF-058D5B12B34C_FITB_Citi_012809finance28
1) Fifth Third Bank reported a net loss in Q4 2008 and for the full year due to credit deterioration, losses on loans sold or transferred, and a goodwill impairment charge.
2) However, the bank strengthened its credit metrics and risk profile in Q4, and its capital levels remained well above targets.
3) While 2008 was challenging, Fifth Third retained most of its pre-2008 loss absorption capacity and expects capital levels to exceed targets in the difficult economic environment.
This annual report summarizes Burlington Northern Santa Fe Corporation's financial and operational performance in 1998. Some key highlights include:
- Revenues reached a record $8.94 billion, a 6.8% increase over 1997.
- Adjusted operating income grew 16% to a record $2.16 billion.
- Adjusted net income exceeded $1.12 billion, a 19% improvement over 1997.
- The operating ratio improved to 75.9%, nearly 2 points better than 1997's adjusted ratio.
- Safety continued to improve, with reductions in reportable injuries and rail accidents.
Highlights of the second quarter of 2009. Net sales amounted to SEK 27,482m (25,587) and income for the period to SEK 658m (99), or SEK 2.32 (0.36) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
Burlington Northern Santa Fe Corporation's 1999 Annual Report summarizes the company's performance in 1999 and compares it to 1994, the year before the BNSF merger. Key points:
1) BNSF achieved record results in safety, customer service, efficiency and financial performance in 1999 compared to 1994.
2) Safety metrics like lost workdays and injuries dropped significantly. Customer service improved with 91% on-time performance. Operating expenses per ton-mile dropped 20-25%.
3) Financial results were also much stronger, with operating income reaching a record $2.24 billion, up 14% annually from 1994. The operating ratio improved 9 points to 75.4%.
Burlington Northern Santa Fe Corporation's 2000 Annual Report summarizes the company's performance for the year. Key points include:
- Revenues grew to $9.2 billion while operating expenses only increased 1% despite a $230 million rise in fuel costs.
- Intermodal revenues increased 6% to a record level while safety and efficiency improvements were made.
- However, weak coal demand, high fuel prices, and a slow US economy impacted results for the year.
- Over the past five years since the Burlington Northern and Santa Fe merger, significant progress has been made in safety, service, efficiency and financials.
AmeriServ Financial reported net income of $533,000 for Q1 2009, down 56.6% from $1,229,000 in Q1 2008. Earnings per share were $0.01 down from $0.06. While net interest income grew 20.9% due to loan and deposit growth, higher loan loss provisions related to the economic environment caused earnings to decline. Non-performing assets were $5.1 million or 0.70% of total loans, up slightly from the previous quarter.
Interim report 2 2010, Investor presentation, Nordea BankNordea Bank
- Nordea delivered according to its plan in the second quarter of 2010, with continued strong customer business. However, results from items at fair value decreased from high levels.
- The outlook for 2010 has improved, with Nordea expecting macroeconomic recovery to continue and credit quality to stabilize in line with the recovery. However, uncertainty remains.
- Key figures for the second quarter show a 1% increase in net interest income year-over-year, driven by volume growth, while margins remained stable. However, risk-adjusted profits decreased due to lower income from treasury and markets.
The document provides an overview of Banco Santander's financial performance for the first nine months of 2011. Some key points:
- Profits were down 13% compared to the same period last year, impacted by lower revenues from financial markets and higher provisions for loan losses in the current economic environment.
- However, the bank has maintained solid basic revenue generation driven by growth in Latin America, consumer finance, and the acquisition of BZ WBK.
- Liquidity and capital positions remain strong, with capital gains expected in Q4 that will be used to further strengthen the balance sheet.
- Expenses are being tightly controlled to offset pressure on revenues, though costs related to acquisitions
The document provides a disclaimer and forward-looking statements regarding a presentation by Banco Santander Totta, S.A. and Banco Santander, S.A. It cautions that the presentation contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. It also states that the information in the presentation should be read in conjunction with other public disclosures and does not constitute an offer to buy or sell securities.
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 an investor update for Bonterra Energy Corp for April 2012. It includes the following key points:
1) Guidance for 2012 including a $65 million capital development budget focused on drilling 33 wells, targeting production of 6,700-7,000 BOE per day and maintaining operating costs around $15 per BOE.
2) Highlights from 2011 including increasing dividends twice, drilling 26 successful wells, achieving record average daily production of 6,322 BOE/day and maintaining a reserve life index of 16.9 years.
3) Financial results for 2011 including $102 million in funds flow, a payout ratio of 58%, $97 million in cash flow from operations,
SpareBank 1 Gruppen reported a pre-tax profit of NOK 786.6 million in 2012, more than double the 2011 profit, due to improved results from its insurance subsidiaries SpareBank 1 Livsforsikring and SpareBank 1 Skadeforsikring. SpareBank 1 Livsforsikring achieved its best ever pre-tax profit due to better risk and administration results, while SpareBank 1 Skadeforsikring's profit improved significantly from a lower claims ratio and higher financial income. A decision was made to more closely integrate the P&C and life insurance businesses to develop comprehensive customer services.
Offentliggjøring av finansiell informasjon etter kapitalkravsforskriften.
Oppdaterte kapitalbehovsberegninger per 31.12.09. Fullstendig Pilar 3-rapport med beskrivelse av ICAAP i SpareBank 1 Gruppen per 01.01.10 vil foreligge etter ferdigstillelse av ICAAP i 2. kvartal 2010 (ICAAP eksklusiv Bank 1 Oslo).
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.
1) SpareBank 1 Gruppen reported a pre-tax profit of NOK 387.3 million for 2011, down from NOK 985.1 million in 2010, due to weak financial markets and high claims.
2) SpareBank 1 Livsforsikring AS achieved its best result ever in 2011 despite falling markets, maintaining good buffers throughout the year.
3) SpareBank 1 Skadeforsikring Group had a negative insurance result in 2011 due to a high proportion of large claims, floods, and storms.
1) Independent Bank Corporation held a 1st quarter 2009 earnings conference call to discuss financial results and challenges.
2) Key highlights included a net loss of $18.6 million due to a $30.8 million loan loss provision and credit costs, but pre-tax core earnings grew sequentially.
3) Challenges included a weak Michigan economy, high credit costs, and a $43.7 million deferred tax asset valuation allowance, but the net interest margin expanded and regulatory capital ratios remained strong.
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.
Highlights of the fourth quarter of 2009. Net sales amounted to SEK 28,215m (28,663) and income for the period was SEK 664m (-474), or SEK 2.34 (-1.68) per share. Net sales declined by 1% in comparable currencies, due to continued weak markets.
- Texas Capital Bancshares reported financial results for Q1 2009 with net income available to common shareholders of $5.2 million, down 35% from Q1 2008. Earnings per share were $0.17, down 43% from the prior year.
- Key metrics like return on equity and return on assets declined from the prior year due to higher stockholders' equity and a challenging economic environment that has increased non-performing loans.
- Non-performing assets rose significantly, with non-accrual loans reaching $50.7 million, up from $13.6 million in Q1 2008. The company recorded an $8.5 million provision for loan losses.
Aon reported financial results for the third quarter of 2008. Total revenue grew 6% to $1.8 billion with organic revenue growth of 2%. Earnings per share from continuing operations increased 27% to $0.52. Key highlights included a 33% increase in adjusted EPS to $0.69, a 140 basis point increase in adjusted pretax margin to 15.1%, and 6% organic revenue growth in commissions, fees and other. The company also repurchased $426 million of shares and increased projected annual savings from restructuring programs.
fifth third bancorp 5033603C-B0AA-45B0-B2AF-058D5B12B34C_FITB_Citi_012809finance28
1) Fifth Third Bank reported a net loss in Q4 2008 and for the full year due to credit deterioration, losses on loans sold or transferred, and a goodwill impairment charge.
2) However, the bank strengthened its credit metrics and risk profile in Q4, and its capital levels remained well above targets.
3) While 2008 was challenging, Fifth Third retained most of its pre-2008 loss absorption capacity and expects capital levels to exceed targets in the difficult economic environment.
This annual report summarizes Burlington Northern Santa Fe Corporation's financial and operational performance in 1998. Some key highlights include:
- Revenues reached a record $8.94 billion, a 6.8% increase over 1997.
- Adjusted operating income grew 16% to a record $2.16 billion.
- Adjusted net income exceeded $1.12 billion, a 19% improvement over 1997.
- The operating ratio improved to 75.9%, nearly 2 points better than 1997's adjusted ratio.
- Safety continued to improve, with reductions in reportable injuries and rail accidents.
Highlights of the second quarter of 2009. Net sales amounted to SEK 27,482m (25,587) and income for the period to SEK 658m (99), or SEK 2.32 (0.36) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
Burlington Northern Santa Fe Corporation's 1999 Annual Report summarizes the company's performance in 1999 and compares it to 1994, the year before the BNSF merger. Key points:
1) BNSF achieved record results in safety, customer service, efficiency and financial performance in 1999 compared to 1994.
2) Safety metrics like lost workdays and injuries dropped significantly. Customer service improved with 91% on-time performance. Operating expenses per ton-mile dropped 20-25%.
3) Financial results were also much stronger, with operating income reaching a record $2.24 billion, up 14% annually from 1994. The operating ratio improved 9 points to 75.4%.
Burlington Northern Santa Fe Corporation's 2000 Annual Report summarizes the company's performance for the year. Key points include:
- Revenues grew to $9.2 billion while operating expenses only increased 1% despite a $230 million rise in fuel costs.
- Intermodal revenues increased 6% to a record level while safety and efficiency improvements were made.
- However, weak coal demand, high fuel prices, and a slow US economy impacted results for the year.
- Over the past five years since the Burlington Northern and Santa Fe merger, significant progress has been made in safety, service, efficiency and financials.
AmeriServ Financial reported net income of $533,000 for Q1 2009, down 56.6% from $1,229,000 in Q1 2008. Earnings per share were $0.01 down from $0.06. While net interest income grew 20.9% due to loan and deposit growth, higher loan loss provisions related to the economic environment caused earnings to decline. Non-performing assets were $5.1 million or 0.70% of total loans, up slightly from the previous quarter.
Interim report 2 2010, Investor presentation, Nordea BankNordea Bank
- Nordea delivered according to its plan in the second quarter of 2010, with continued strong customer business. However, results from items at fair value decreased from high levels.
- The outlook for 2010 has improved, with Nordea expecting macroeconomic recovery to continue and credit quality to stabilize in line with the recovery. However, uncertainty remains.
- Key figures for the second quarter show a 1% increase in net interest income year-over-year, driven by volume growth, while margins remained stable. However, risk-adjusted profits decreased due to lower income from treasury and markets.
The document provides an overview of Banco Santander's financial performance for the first nine months of 2011. Some key points:
- Profits were down 13% compared to the same period last year, impacted by lower revenues from financial markets and higher provisions for loan losses in the current economic environment.
- However, the bank has maintained solid basic revenue generation driven by growth in Latin America, consumer finance, and the acquisition of BZ WBK.
- Liquidity and capital positions remain strong, with capital gains expected in Q4 that will be used to further strengthen the balance sheet.
- Expenses are being tightly controlled to offset pressure on revenues, though costs related to acquisitions
The document provides a disclaimer and forward-looking statements regarding a presentation by Banco Santander Totta, S.A. and Banco Santander, S.A. It cautions that the presentation contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. It also states that the information in the presentation should be read in conjunction with other public disclosures and does not constitute an offer to buy or sell securities.
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 an investor update for Bonterra Energy Corp for April 2012. It includes the following key points:
1) Guidance for 2012 including a $65 million capital development budget focused on drilling 33 wells, targeting production of 6,700-7,000 BOE per day and maintaining operating costs around $15 per BOE.
2) Highlights from 2011 including increasing dividends twice, drilling 26 successful wells, achieving record average daily production of 6,322 BOE/day and maintaining a reserve life index of 16.9 years.
3) Financial results for 2011 including $102 million in funds flow, a payout ratio of 58%, $97 million in cash flow from operations,
SpareBank 1 Gruppen reported a pre-tax profit of NOK 786.6 million in 2012, more than double the 2011 profit, due to improved results from its insurance subsidiaries SpareBank 1 Livsforsikring and SpareBank 1 Skadeforsikring. SpareBank 1 Livsforsikring achieved its best ever pre-tax profit due to better risk and administration results, while SpareBank 1 Skadeforsikring's profit improved significantly from a lower claims ratio and higher financial income. A decision was made to more closely integrate the P&C and life insurance businesses to develop comprehensive customer services.
Offentliggjøring av finansiell informasjon etter kapitalkravsforskriften.
Oppdaterte kapitalbehovsberegninger per 31.12.09. Fullstendig Pilar 3-rapport med beskrivelse av ICAAP i SpareBank 1 Gruppen per 01.01.10 vil foreligge etter ferdigstillelse av ICAAP i 2. kvartal 2010 (ICAAP eksklusiv Bank 1 Oslo).
Kvartalspresentasjon Q1 2010 SpareBank 1 Gruppen presentert av adm. direktør ...SpareBank 1 Gruppen AS
Hent presentasjonen som ble brukt på presse- og analytikerkonferansen 28. april 2010. Presentasjonen ble holdt av adm. direktør Kirsten Idebøen i SpareBank 1 Gruppen.
Q3 2008 Financial results for SpareBank 1 Gruppen presented by CEO Eldar Math...SpareBank 1 Gruppen AS
This document summarizes the quarterly results presentation of SpareBank 1 Gruppen. Key points include:
- Pre-tax profits were down significantly from the previous year due to weak financial markets.
- Subsidiaries like the life insurance company were strongly affected by financial turmoil.
- The Group established a new brokerage house, Argo Securities, in partnership with former Kaupthing employees.
- Bank 1 Oslo saw good underlying loan growth but higher loan losses, resulting in a loss for the quarter.
Interim report 1 2010, Nordea Hypotek ABNordea Bank
1. Nordea Hypotek reported operating profit of SEK 1,005m for January-June 2010, down 23% from the same period in 2009, mainly due to increased funding costs and lower net gains on items at fair value.
2. Lending volumes increased 11% to SEK 395.5bn, with household lending up 13% and lending to legal entities up 6%.
3. Capital adequacy ratios were 7.4% for tier 1 capital and 9.5% for total capital, exceeding regulatory requirements.
PA Resources reported lower production and revenue in Q2 2012 compared to Q1 due to lower oil prices and production. Net debt was reduced to SEK 3.5 billion. Capex remains on forecast at SEK 53 million for 1H 2012. Operations updates provided for Denmark, Tunisia, Congo and Egypt assets. An Azurite sidetrack in Congo is imminent to restore lost production.
Swedbank's Third Quarter 2011 Results PresentationSwedbank
Swedbank's third quarter 2011 results showed:
1) Net profit of SEK 3.475 billion and a core Tier 1 capital ratio of 15.1%, despite increased macroeconomic uncertainty.
2) Retail banking saw a solid performance with improved net interest income, stable asset quality, good cost control, and high interest rate sensitivity.
3) The group results demonstrated solid core development, with lower fees offset by good cost control and deposit growth, despite negative treasury valuation effects.
4) Liquidity and funding remained strong, with SEK 60 billion in long-term debt issued in Q3 covering USD funding needs for over 12 months.
Interim report 1 2010, Media and analyst presentation, Nordea BankNordea Bank
The document provides a summary of Nordea's first quarter 2010 results. Some key points:
- Total income was up 7% compared to Q1 2009, driven by increases in net fee and commission income.
- Operating profit increased 48% compared to Q1 2009.
- Net loan losses decreased 27% compared to Q1 2009, with lower losses in Denmark, Sweden, and the Baltic countries.
- Risk-adjusted profit was up 27% compared to Q1 2009, remaining on track to reach long-term targets.
- Total assets under management reached a record high of EUR 169 billion, up 7% from the previous quarter.
Interim report 2 2010, Media and analyst presentation, Nordea BankNordea Bank
Nordea reported its second quarter results for 2010. Key highlights include:
- Net interest income was up 1% from the previous quarter. Customer business remained strong with income from corporate and household segments increasing.
- Net fee and commission income was up 13% due to higher income from corporate finance and continued strong performance in savings.
- Result from items at fair value decreased 38% from the previous quarter due to lower contributions from Treasury and Capital Markets.
- Credit quality continued to improve with net loan losses down 6% from the previous quarter and impaired loans decreasing slightly. Outlook for 2010 expects further decreases in loan losses.
Highlights of the third quarter of 2012. Net sales amounted to SEK 27,171m (25,650) and income for the period was SEK 985m (825), or SEK 3.43 (2.90) per share. Net sales improved by 5.9%, of which 4.6% was organic growth, 5.1% acquisitions and –3.8% changes in exchange rates.
- Tele2 reported robust financial results for the first quarter of 2009, with revenue increasing 6% to SEK 10.12 billion and EBITDA rising 34% to SEK 2.227 billion.
- Key drivers included strong growth in fixed broadband in the Netherlands and stable performance in the Baltic region. However, launch costs in Russia and higher marketing expenses weighed on mobile profits.
- The company proposed a total dividend of SEK 5 per share for 2009, consisting of an increased ordinary dividend of SEK 3.50 per share plus a special dividend of SEK 1.50 per share.
Presentation of Swedbank's Year-End Report 2012Swedbank
1) Swedbank reported strong fourth quarter and full year 2012 results, with profits up year-over-year driven by higher market-related income and continued stable asset quality.
2) The bank will focus on improving customer service and efficiency through IT investments in 2013.
3) Capital levels remained high and Swedbank intends to increase dividends to 75% of annual profits going forward based on a strong capital position and efficiency focus.
Modern Times Group (MTG) reported its financial results for the second quarter of 2012. Revenue was stable year-over-year at both constant and reported exchange rates. Operating expenses grew 1% year-over-year at constant exchange rates. Net income for the quarter was SEK 454 million, down compared to SEK 479 million in the second quarter of 2011. For the first half of the year, revenue increased 2% at constant exchange rates while operating expenses grew 4% due to investments in programming. Net income for the first six months of 2012 was SEK 908 million.
Interim report 3 2010, Investor presentation, Nordea BankNordea Bank
Nordea reported results for the third quarter of 2010. Net interest income was up 5% from the previous quarter due to strong customer activity and lending volumes. Fee and commission income remained high due to asset management performance. Expenses were down 2% excluding currency and initiative effects. Net loan losses continued to decrease and credit quality improved. Nordea expects macroeconomic recovery to continue through 2010.
Pa resources q4 2012 presentation_6 february 2013PA Resources AB
PA Resources reported financial results for the fourth quarter of 2012. Key highlights included lower production and oil prices decreasing revenue compared to Q3. EBITDA margin improved to 56.9% due to stable costs. A recapitalization was completed through a set-off issue and rights issue, strengthening the equity by approximately SEK 1.57 billion. The company's strategy going forward focuses on long-term growth through development of existing reserves and reducing risk through farm-out transactions of certain assets.
Highlights of the second quarter of 2010. Net sales amounted to SEK 27,311m (27,482) and income for the period was SEK 1,028m (658), or SEK 3.61 (2.32) per share. Net sales increased by 2.8% in comparable currencies, due to higher sales volumes.
PA Resources Interim Report Q1 2011 PresentationPA Resources AB
- Production in Q1 2011 was 9,700 bopd, lower than Q4 2010 due to natural decline but higher oil prices helped offset lower production. Revenue was MSEK 583.2.
- The company successfully refinanced bonds to extend debt maturity and lower interest costs. Cash position was MSEK 500 in April after refinancing.
- Capital expenditure in 2011 is forecast between MSEK 1,100-1,250, mainly for development projects in West Africa including completion of the Azurite field and Aseng field.
2006 10-02 Q4 & Full Year 2005/2006 ResultsKappAhl
The document provides the Fourth Quarter and Full Year Report for the period of 1 Sept 2005 to 31 Aug 2006. Key highlights include sales increasing 6.9% for the full year due to favorable FX rates and net new store growth. Gross margin improved to 60.2% for the full year. Operating profit increased for both the quarter and full year period.
Présentation des résultats financiers Ericsson (Q4 2009)Ericsson France
Ericsson a publié ce matin les résultats de l’entreprise pour l’année 2009. Hans Vestberg, nouvellement président-directeur général du groupe depuis le 1er janvier 2010, a commenté les faits saillants au cours d’une conférence de presse en Suède. L’intégralité de ses commentaires est disponible ci-dessous.
Plus d'informations : http://www.blog-ericssonfrance.com/2010/01/le-pdg-du-groupe-ericsson-commente-les-resultats-2009/
Electrolux Consolidated results 2012 PresentationElectrolux Group
- Net sales for Electrolux reached SEK 110 billion in 2012, an improvement of 8.3% driven by 5.5% organic growth, 3.9% from acquisitions, and a 1.1% currency effect. EBIT was SEK 5.2 billion with a margin of 4.7%.
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Similar to Q2 2009 Financial results for SpareBank 1 Gruppen presented by CEO Kirsten Idebøen (20)
SpareBank 1 Gruppen reported strong financial results for 2017, with record profits for its life insurance subsidiary SpareBank 1 Forsikring AS.
Key highlights for 2017 include:
- Pre-tax operating profit of NOK 2.21 billion, up 10% from 2016.
- Record profit of NOK 836 million for SpareBank 1 Forsikring AS, the life insurance subsidiary, driven by strong premium growth and financial income.
- Continued strong insurance profitability and financial returns for SpareBank 1 Skadeforsikring AS, the non-life insurance subsidiary, with a pre-tax profit of NOK 1.31 billion.
- Higher operating
SpareBank 1 Gruppen reported another good quarter with pre-tax operating profits of NOK 580 million in Q4 2016. Key subsidiaries like SpareBank 1 Forsikring (life insurance) and SpareBank 1 Skadeforsikring (non-life insurance) continued profitable growth. Insurance results were favorable due to lower weather claims and run-off gains. ODIN Fund Management and receivables management also experienced growth in income, though ODIN saw lower earnings than 2015. Overall, the SpareBank 1 Alliance continues strong financial performance across its insurance, fund management, and financing businesses.
- SpareBank 1 Group reported a pre-tax operating profit of 385 million NOK for Q1 2016, an increase from 337 million NOK in Q1 2015. Return on equity was 12.8% for Q1 2016.
- The life insurance and property & casualty insurance subsidiaries reported increased risk and administration profits compared to Q1 2015, though the life insurance subsidiary reported lower net financial income.
- The property & casualty insurer reported an improved combined ratio of 87.9% for Q1 2016 compared to 99.2% in Q1 2015, driven by lower claims.
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Q2 2009 Financial results for SpareBank 1 Gruppen presented by CEO Kirsten Idebøen
1. 1st half-year (H1) 2009
Presentation of results
SpareBank 1 Gruppen
Kirsten Idebøen, CEO
12 August 2009
2. Highlights H1 2009
• The rise of the stock market in the 2nd quarter contributed to historically strong
quarterly profit
• SpareBank 1 Gruppen has commenced a broad-based restructuring programme that
will create lasting and enhanced profitability and boost its competitiveness
• The 24.5% stake in First Securities has been sold
• Focus on new business within the securities area through Argo Securities and debt
collection through SpareBank 1 Gruppen Finans Holding
• On 10 July 2009 SpareBank 1 Livsforsikring signed an agreement to sell its group
defined-benefit pension portfolio to Gabler Pensjonsforsikring. The sale is subject to a
successful share issue in Gabler, together with the approval of the authorities
2
2
3. Historically strong quarterly profit
Pre-tax profit group
• Pre-tax profit for H1 was MNOK 541
(297).The profit for Q2 was MNOK
500
441 441 (197)
450
• Profit after tax for H1 was MNOK 296
400 350 (211). The high tax cost is owing to
350
the calculated effect of the tax
300
exemption method in SpareBank 1
MNOK
236
250
197 Livsforsikring
200
• Return on equity year-to-date is
150
100 100 12.3% (7.9%) p.a.
100
• At the end of June, total assets were
50
NOK 59.7 billion, up NOK 3.3 billion
0
from 31 December 2008.
2007 2008 2009
• Core and capital adequacy ratio of
9.9% and 14.6% respectively as at
Pre-tax profit - Q1 Pre-tax profit - Q2
30 June 2009, against 9.4% and
12.6% at year-end
3
3
4. Very good quarterly profit from the subsidiaries
Pre-tax profit in subsidiaries
• Overall profit before tax for the 250 233
230
subsidiaries in H1 was MNOK 548
(338). The profit for Q2 was MNOK 423 200 179
(207)
• Strong investment and net risk result in 150
the life insurance company. The
MNOK
company is financially sound 100 81
66 60
• Very good financial return year-to-date
counterbalances a lower insurance 50
result in the P&C insurance company -8 2
0
• Decline in profit as a result of lower
ODIN
Livsfors.
Skadefors.
konsern
Bank 1
Oslo
volumes under management in ODIN
SB1
SB1
-50
Forvaltning
• Increased commission and financial
income in Bank 1 Oslo Pre-tax profit - half year 2008
Pre-tax profit - half year 2009
4
4
5. SpareBank 1 Gruppen group
Profit/loss for H1 2009
Q2 Q1 Q2 Half year
Figures in MNOK 2009 2009 2008 2009 2008
Part of result from subsidiaries before tax
- SpareBank 1 Livsforsikring 205.6 24.4 43.7 230.0 -8.1
- Additional provisions recognised as
income in consolidated accounts -42.0 42.0 -41.7 0.0 20.9
- SpareBank 1 Skadeforsikring 184.9 48.1 125.0 233.0 179.1
- Bank 1 Oslo group 67.6 13.1 34.4 80.7 66.3
- ODIN Forvaltning 9.6 -7.5 29.2 2.2 59.5
- Argo Securities -11.9 -12.9 0.0 -24.8 0.0
- SpareBank 1 Medlemskort 4.1 5.6 4.2 9.7 8.2
- SpareBank 1 Gruppen Finans Holding 11.0 5.3 5.4 16.3 7.1
- Correction subsidiaries - pro forma IFRS -6.0 7.4 7.0 1.4 5.1
Net result before tax from subsidiaries 423.0 125.4 207.2 548.3 338.2
Total operating costs holding -12.1 -13.3 -11.9 -25.4 -22.7
Net investment charges holding -7.0 -17.3 -12.9 -24.3 -36.5
Gains from sale of companies 29.2 0.0 0.0 29.2 0.0
Share of associated company - First Securities 8.4 5.1 16.4 13.5 20.6
Net result before amortisation 441.4 99.9 198.8 541.3 299.6
Amortisation 0.0 0.0 -1.3 0.0 -2.6
Pre-tax result 441.4 99.9 197.5 541.3 297.0
Taxes -150.7 -94.8 -50.0 -245.5 -85.9
Net result for the period 290.7 5.2 147.4 295.9 211.1
Majority interest 292.9 7.5 147.0 300.3 210.6
Minority interest -2.1 -2.3 0.4 -4.5 0.5
5
5
6. Bank 1 Oslo
High financial income and
lower operating costs
6
6
7. Bank 1 Oslo (group)
High financial income and lower operating costs
Pre-tax profit per quarter
• Pre-tax profit of MNOK 81 (66)
for H1.The profit for Q2 was 80
MNOK 68 (34) 68
70
• The main reasons for the
improved performance are 60
higher income from financial
50
investments and lower
MNOK
operating costs 40 33 32 34
• Loan losses MNOK 60 (-17) in 30 27
H1, of which MNOK 25 (-13) in
Q2 20 13
• Gross non-performing and 10
impaired loans amounted to
1.7% (0.6%) of gross loans as 0
at 30 June 2009 2007 2008 2009
• Positive result before tax from
EM1 Oslo & Akershus of MNOK Pre-tax profit - Q1 Pre-tax profit - Q2
3 (-13)
7
7
8. Bank 1 Oslo (parent bank)
Good lending growth, but reduced net interest
income
Net interest income per quarter
110.0 2.0 %
105.3
• Lending growth of 17.9% last 12 105.0
1.9 %
1.8 %
months. Growth year-to-date was
1.7 %
7.1%, of which RM increased by 100.0
97.0 96.7 95.9 1.6 %
7.2% and CM by 6.7%
MNOK
95.0 1.5 %
• Net interest income of MNOK 178 90.4 89.9 89.9 1.4 %
88.8
(193) in H1. In Q2 net interest 90.0 1.3 %
income was MNOK 90 (96), down 85.0
1.2 %
7.0% 1.1 %
80.0 1.0 %
• Net interest income for H1 of
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
1.40% (1.81%) 2007 2007 2008 2008 2008 2008 2009 2009
Net interest income Net interest income measured
against average total assets
8
8
9. Bank 1 Oslo (parent bank)
Margin and volume growth
22,000
2.32 %2.21 % 2.50 %
20,000
2.00 %
1.49 % 1.42 %
18,000 1.34 % 1.36 % 1.50 %
1.25 % 1.35 %
1.23 % 1.22 %
MNOK
1.15 %1.10 %
16,000 1.00 %
1.05 %
0.94 %0.91 % 0.87 %
0.88 % 0.88 %0.86 % 0.77 %0.84 %
14,000 0.50 %
0.68 %
12,000 0.00 %
-0.13 %
-0.35 %
10,000 -0.50 %
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2006 2006 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009
Lending Spread for ordinary Spread for deposits
lending to custom ers from custom ers
The benchmark interest rate used in the margin calculation is 3 months NIBOR
9
9
10. Bank 1 Oslo (parent bank)
Lower non-performing loans in Q2
MNOK 1. kv 2008 %
Per cent
500.0 2.5
450.0
400.0 2.0
350.0
300.0 1.5
250.0
459.2
200.0 400.6 1.0
358.0
150.0
246.1
100.0 203.6 220.0 214.0 0.5
165.8 162.7
50.0 113.1
0.0 -
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2007 2007 2007 2007 2008 2008 2008 2008 2009 2009
Total non-performing loans
as % of gross loans
Non-performing loans = Total of overdue claims over 90 days and impaired non-overdue claims over 90 days
10
10
11. Bank 1 Oslo (parent bank)
Lower losses in Q2, but increase compared with last year
MNOK
Individual Collective Net write-offs Net loan
write-downs impairment and incomings on losses
30.0 previous write-offs
20.0 17.0
10.2
10.0 4.7 -19.5 -9.3 2.2 -31.1 -59.9
0.0
-10.0
-20.0
-30.0
-40.0
-50.0
Half year 2008 Half year 2009
-60.0
-70.0
11
11
12. Bank 1 Oslo (group)
Increased commission and financial income
Other income per quarter
140
120
• Net commission income and other
100
income of MNOK 134 (123) for H1
80
– Commission income from real estate
MNOK
60
agency up 14.8% to MNOK 55 (48)
40
• Income from financial investments 20
was MNOK 77 (-10) in H1 0
– The profit from the bank's bond -20
portfolio increased by MNOK 23 (-6) -40
– Shares and primary capital certificates Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
by MNOK 41 (-9) 2007 2007 2008 2008 2008 2008 2009 2009
Guarantee commissions/others
Real estate agency commission
Revenue from financial investments
Payments system
Commission revenues from insurance and savings
12
12
13. Bank 1 Oslo (group)
Profit/loss for H1 2009
Q2 Q1 Q2 Half year
Figures in MNOK 2009 2009 2008 2009 2008
Net interest income 89.7 88.5 96.5 178.2 193.4
Other operating income 125.3 86.4 60.9 211.7 113.0
Operating costs 123.0 127.4 136.2 250.4 257.1
Operating result before losses 92.1 47.5 21.2 139.6 49.3
Net loan loss provisions 25.0 34.9 -13.2 59.9 -17.0
Share of associated company 0.5 0.6 0.0 1.0 0.0
Pre-tax operating profit 67.6 13.1 34.4 80.7 66.3
Taxes 8.9 2.2 9.4 11.1 18.4
Net profit/loss for the period 58.7 10.9 24.9 69.6 47.9
Key figures Q2 Q1 Q2 Half year
Figures in percentage 2009 2009 2008 2009 2008
Net interest margin 1.41 % 1.41 % 1.75 % 1.40 % 1.81 %
Cost/income ratio
excl. equity investment portfolio (parent bank) 74.5 % 70.9 % 73.0 % 72.6 % 71.7 %
Cost/income ratio
incl. equity investment portfolio 57.2 % 72.9 % 86.6 % 64.2 % 83.9 %
Return on equity (parent bank) 21.6 % 4.7 % 10.6 % 13.2 % 10.1 %
Return on equity 23.2 % 4.4 % 9.0 % 13.9 % 8.6 %
Deposit coverage ratio 73.8 % 75.7 % 76.2 % 73.8 % 76.2 %
Capital adequacy ratio (parent bank) 11.7 % 11.7 % 9.7 % 11.7 % 9.7 %
Core capital adequacy ratio (parent bank) 8.4 % 8.3 % 9.1 % 8.4 % 9.1 %
13
13
14. SpareBank 1
Livsforsikring
Strong investment and risk result
14
14
15. SpareBank 1 Livsforsikring
Strong investment and risk result
• Pre-tax profit of MNOK 230 (-8) in H1 Pre-tax profit per quarter
• Positive development in net risk result; MNOK
190 (92) year-to-date
250
• The investment result was MNOK 301 (-1) in 206
H1. In Q2 it amounted to MNOK 351 (58) 200
• Total assets as at 30 June 2009 were NOK
22.9 billion, up 8.1% from 31 December 2008 150 129
• SpareBank 1 Livsforsikring signed an 93
MNOK
100
agreement to sell its approximately NOK 4
billion group defined-benefit pension portfolio 44
50 24
to Gabler Pensjonsforsikring
– The company is expected to post a net gain 0
of approx. MNOK 50 in Q4
2007 2008 2009
– As part of the agreement, SpareBank 1 -50
Livsforsikring will take a 15% stake in Gabler -52
Pensjonsforsikring -100
– The sale is subject to a successful share
issue in Gabler, together with the approval of Pre-tax profit - Q1 Pre-tax profit - Q2
the authorities
15
15
16. SpareBank 1 Livsforsikring
Stronger buffer capital in the life insurance
company
Growth in buffer capital
14 %
11.7 %
12 %
• Core and capital adequacy ratio of 15.6% 10 %
(12.1%) and 18.7% (14.8%) respectively 8.2 %
5.8 %
8%
as at H1 6.3 % 6.0 %
Percent
5.8 %
• The buffer capital with additional 6%
provisions within a one-year interest rate 4%
guarantee equals 11.7% (8.2%) at the 2%
end of June 0%
• Estimated solvency margin at the end of -2 % Q1 Q2 Q3 Q4 Q1 Q2
H1 was 241% (266%) 2008 2008 2008 2008 2009 2009
-4 %
• The securities adjustment reserve was Securities adjustment reserve
MNOK 54 as at 30 June 2009 Additional provisions
Interim profit
Core capital in excess of minimum
16
16
17. SpareBank 1 Livsforsikring
Modest rise in stocks in the group portfolio
As at 30 June 2009 *)
Group portfolio Company portfolio Investment choice portfolio
34.9 (31.4)% 13.1 (12.4)% 0.1 (7.3)% 4.0 (1.0)% 32.1 (28.9)%
58.1 (54.4)%
5.2 (3.0)% 22.2 (32.2)%
17.4 (32.6)%
22.4 (22.9)% 56.2 (26.9)%
24.4 (30.3)% 9.8 (16.7)%
Stocks Other Stocks Other Stocks Other Bonds
Real estate Bonds held to maturity Real estate Bonds held to maturity
Bonds Bonds
NOK 15.0 (14.7) billion NOK 1.9 (1.3) billion NOK 4.7 (4.0) billion
* Figures in parentheses are as at 31 December 2008
17
17
18. SpareBank 1 Livsforsikring
Return ordinary customer portfolio with guarantee as at 30
June 2009
Percent
Norwegian shares 28.4
Foreign shares 10.4
Money market 2.7
Norwegian bonds 3.5
Foreign bonds 3.7
Hold to maturity 2.7
Real estate 3.2
0 5 10 15 20 25 30
18
18
19. SpareBank 1 Livsforsikring
Value-adjusted return on customer portfolios with guarantee year-to-date (excl.
value change bonds held to maturity)
Q1 Q2 Q1 Q2 Q1 Q2 Q1 Q2
2009 2009 2009 2009 2009 2009 2009 2009
5
4.1
4
3
Percent
2.5
1.9
2
1.5
0.9
1 0.7
0.5
0.2
0
SpareBank 1 Storebrand Vital Nordea
19
19 Source: company presentations
20. SpareBank 1 Livsforsikring
Profit/loss for H1 2009
Q2 Q1 Q2 Half year
Figures in MNOK 2009 2009 2008 2009 2008
Insurance risk income 304.7 310.4 288.1 615.1 577.8
Insurance risk claims -190.7 -211.8 -243.7 -402.5 -450.9
Risk result 114.0 98.6 44.4 212.6 126.8
Tecnical allocations -10.9 -11.7 -15.3 -22.6 -34.9
Risk result after tecnical allocations 103.2 86.9 29.1 190.1 91.9
Fees 132.5 149.6 150.2 282.1 287.9
Expenses, exclusive comissions -132.2 -139.8 -140.5 -272.0 -264.2
Comissions -47.6 -47.0 -58.8 -94.6 -106.8
Administration result -47.2 -37.3 -49.1 -84.5 -83.1
Net investment income 464.4 59.3 167.4 523.7 216.7
Guaranteed interest to policyholders -112.9 -110.1 -109.7 -223.0 -217.6
Investment result 351.5 -50.8 57.7 300.7 -0.9
Result before allocations 407.4 -1.1 37.7 406.3 7.9
Undistributed profits to customers -213.5 -8.9 -2.2 -222.4 -8.0
Return on company's assets 11.7 34.4 8.2 46.2 -8.0
Net profit to owner before tax 205.6 24.4 43.7 230.0 -8.1
Taxes * 0.0 0.0 0.0 0.0 0.0
Net profit/loss for the period 205.6 24.4 43.7 230.0 -8.1
Key figures Q2 Q1 Q2 Half year
2009 2009 2008 2009 2008
Capital adequacy ratio 18.7 % 14.8 %
Buffer capital in % of insurance provisions 11.7 % 8.2 %
* The company’s accounts do not show the tax cost because deferred tax advantages are not recognised in accordance with accounting
standard IAS 12. The company’s tax cost of MNOK 172 year-to-date is included in SpareBank 1 Gruppen’s consolidated tax
20
20
21. SpareBank 1
Skadeforsikring
Increase in financial income
21
21
22. SpareBank 1 Skadeforsikring
Increase in financial income
Pre-tax profit per quarter
• Pre-tax profit for H1 was MNOK 233
(179)
• Net financial income as at June was 200 185
MNOK 228 (100). The financial return 180
year-to-date equals 3.1% (1.4%) 160
139
• The insurance result for H1 totals 140 125
MNOK 15 (85) 120
MNOK
• The claims ratio for own account 100
totals 76.5% (72.2%). The increase is 80 66
due to major claims in CM in Q1 54
60 48
– The claims ratio for own account was
73.5% (70.3%) in Q2 40
• Combined ratio for own account is 20
98.1% (93.8%) as at 30 June 2009 0
• Positive portfolio growth within both 2007 2008 2009
CM and RM in H1. Total portfolio
increase of MNOK 115 (33), which Pre-tax profit - Q1 Pre-tax profit - Q2
amounts to 3.0% (0.9%)
22
22
23. SpareBank 1 Skadeforsikring
Two major claims in Q1 push up combined ratio for own
account
Combined ratio for own account shown Combined ratio for own account
by quarter per annum
100.6 % 98.1%
100 % 89.9% 94.6% 94.0%
100 % 92.7 % 91.9 % 95.9 % 93.9 % 93.8 % 95.1 % 93.1 % 95.6 % 87.2%
21.1 % 21.6 %
20.9 %
20.7 % 21.9 %
20.2 % 19.5 %
21.8 % 19.7 % 23.5 % 23.3 %
22.1 % 80 % 20.6 %
80 % 20.5 %
60 %
60 %
40 % 79.5 % 40 % 73.9 % 76.5 %
72.5 % 72.4 % 74.0 % 74.2 % 74.1 % 73.5 % 69.3 % 72.1 %
70.3 % 69.7 % 66.7 %
20 % 20 %
0% 0%
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2005 2006 2007 2008 Half year
2007 2007 2007 2008 2008 2008 2008 2009 2009 2009
Claims ratio Cost ratio
Claims ratio Cost ratio
23
23
24. SpareBank 1 Skadeforsikring
Profit/loss for H1 2009
Q2 Q1 Q2 Half year
Figures in MNOK 2009 2009 2008 2009 2008
Gross written premium 1,033.7 1,237.9 1,034.8 2,271.7 2,226.0
Net earned premium 940.2 919.2 908.5 1,859.4 1,811.1
Net incurred claims -691.2 -730.5 -638.8 -1,421.7 -1,308.5
Net insurance operating costs -207.6 -194.2 -213.4 -401.7 -391.1
Changes in other technical reserves -13.4 -7.9 -19.5 -21.3 -26.4
Operating result before finance 28.0 -13.3 36.8 14.7 85.1
Net financial income 162.6 65.8 91.8 228.4 100.2
Other costs -1.0 -0.3 0.2 -1.3 1.0
Result before changes in security reserve 189.6 52.2 128.8 241.8 186.3
Changes in security reserve -4.7 -4.1 -3.9 -8.8 -7.2
Pre-tax profit 184.9 48.1 125.0 233.0 179.1
Taxes -51.8 -13.5 -35.0 -65.2 -50.1
Net profit/loss for the period 133.2 34.6 90.0 167.8 128.9
Key figures Q2 Q1 Q2 Half year
Figures in percentage 2009 2009 2008 2009 2008
Claims ratio, net 73.5 % 79.5 % 70.3 % 76.5 % 72.2 %
Cost ratio, net 22.1 % 21.1 % 23.5 % 21.6 % 21.6 %
Combined ratio, net 95.6 % 100.6 % 93.8 % 98.1 % 93.8 %
Capital adequacy ratio 28.0 % 27.3 %
24
24
26. ODIN Forvaltning
Increasing assets under management
Pre-tax profit per quarter
80 74
• Pre-tax profit of MNOK 2 (59) in H1
67
• The decline in profits is owing to a 70
lower level of assets under 60
management than in H1 2008 50
• Assets under management rose NOK
MNOK
40
3.2 billion in H1 to NOK 22.3 billion. 30 29
30
• Equity fund market share equalled
12.8%, down from 13.8% at the 20
9.6
beginning of the year 10
-7.5
• 9 of 11 equity funds with better return 0
than benchmark index as at 30 June 2007 2008 2009
-10
2009
Pre-tax profit - Q1 Pre-tax profit - Q2
26
26
27. ODIN Forvaltning
Profit/loss for H1 2009
Q2 Q1 Q2 Half year
Figures in MNOK 2009 2009 2008 2009 2008
Management fees 57.0 46.3 84.6 103.3 167.1
Subscription and redemption fees 6.7 6.2 10.4 13.0 25.2
Total operating income 63.8 52.5 95.0 116.3 192.2
Salaries 18.5 19.2 26.3 37.7 53.3
Depreciations 3.9 4.1 3.5 8.0 7.0
Other operating costs 30.9 31.7 38.2 62.6 79.2
Total operating costs 53.4 55.0 68.0 108.4 139.4
Operating profit 10.4 -2.5 27.0 7.9 52.8
Net financial income -0.8 -5.0 2.1 -5.8 6.7
Pre-tax profit 9.6 -7.5 29.2 2.2 59.5
Taxes 0.4 0.2 8.2 0.6 16.7
Net profit/loss for the period 9.2 -7.7 21.0 1.5 42.8
27
27
28. Other companies
SpareBank 1 Gruppen Finans Holding
SpareBank 1
Gruppen Finans
Holding AS SpareBank 1 Medlemskort
(100%)
SpareBank 1 Actor Fordrings-
Factoring forvaltning Actor Portefølje
(100%) (100%) (100%)
Actor
Verdigjenvinning
(100%)
• The company was • The subgroup consists of • SpareBank 1 Medlemskort
established in October factoring, debt collection and operates the LO unions'
2008 acquisition of non-performance joint membership database
• SpareBank 1 Gruppen portfolio for delivery of membership
AS owns 75% of Argo • SpareBank 1 Factoring received cards, collection of
Securities AS a licence at the end of Q1 insurance premiums for
• Pre-tax profit for H1 of group insurance, plus
• Pre-tax profit for H1 of MNOK
MNOK (-25) operation of LOfavør, a
(16)
rewards programme
• Strong growth in income in Actor
Fordringsforvaltning, 55.9% last • Pre-tax profit for H1 of
MNOK 9.7 (8.3)
12 months
28
28
30. A pro-active restructuring programme that will produce considerable
earnings improvements has been implemented. These improvements
will be derived by 31 December 2010
ESTIMATED PROFITABILITY EFFECT PER SUBPROJECT
(MNOK)
30 450
56
89
84
191
Life insurance P&C insurance Bank 1 Group Other Total recommended
measures
Income measures 47 0 60 1 19 127
Cost-saving measures 144 84 29 55 11 323
Total 191 84 89 56 30 450
FTEs -101 -48 -21 -7 0 -177
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30
41. Assumptions for calculating the pension liability in
SpareBank 1 Gruppen
30.06.2009 30.06.2008 31.12.2008
• SpareBank 1 Gruppen shows at all Discount rate 4.00 % 4.80 % 3.80 %
times the market value of the Basic amount adjustment/inflation 3.75 % 4.25 % 3.75 %
pension liability in the balance
Wage adjustment 4.00 % 4.25 % 4.00 %
Expected return on pension funds 5.80 % 5.80 % 5.80 %
sheet AFP early retirement plan 40 % 40 % 40 %
• SpareBank 1 Gruppen applies a Pension adjustments 1.50 % 2.30 % 1.50 %
new scale K2005 Mortality K2005 K2005 K2005
Disability IR2003 IR2003 IR2003
4 % below 50 4 % below 50 4 % below 50
Cancellations years and 2 % years and 2 % years and 2 %
above 50 years above 50 years above 50 years
41
41