Sampo: Still not hopping off

SAMPOResearch05.05.2022, 12.20

Sampo's Q1 result exceeded our forecast thanks to strong development in If P&C and Mandatum. However, the beat came through certain non-recurring factors and investment income. Thus, the report didn't cause major estimate revisions.

Sampo is the leading property and casualty insurance group in the Nordic region and a major operator in the growing digital P&C insurance market in the UK. Sampo Group has around 9 million customers, and it employs 15,000 people. The Group’s insurance revenue totalled EUR 9.1 billion in 2025 of which the Nordic market represented 75 per cent. The Group’s operations are diversified by geography, line of business, and customer group. Sampo Group operates in Sweden, Norway, Finland, Denmark, the UK, and the Baltic countries. Its largest customer groups are private customers in the Nordics and in the UK, representing in total over 65 per cent of the Group's insurance revenue. The Group is also a leading provider of P&C insurance in Nordic commercial and industrial businesses.

Key Estimate Figures04.05.2022

	2021	22e	23e
Revenue	9,746.0	10,248.4	9,577.2
growth-%	15.9 %	5.2 %	-6.5 %
EBIT (adj.)	2,190.0	1,835.1	1,593.0
EBIT-% (adj.)	22.5 %	17.9 %	16.6 %
EPS (adj.)	0.52	0.45	0.41
Dividend	0.74	0.33	0.52
Dividend %	9.3 %	3.7 %	5.9 %
P/E (adj.)	15.4	19.7	21.5
EV/EBITDA	7.5	12.5	13.6

Forum discussions

Largest shareholders at the end of September: sampo.com Osakkeenomistajat | Sampo.com Sampo on yksi omistetuimmista osakkeista Nasdaq Helsingiss...

yesterday

by Ju-ha-ni

Hiljaista jaksoa edeltävä tietopläjäys on julkaistu: https://www.sampo.com/fi/sijoittajat/analyytikkotietoa/analyytikkomateriaalit/

yesterday

by Mirko/Sampo IR

Sampo included in OP’s stock ideas starting from September 28, 2026.

9/30/2026, 10:05 AM

by OttoJ

Pyysing has been writing about Sampo this time Sampo and other insurance stock shares in the Nordic countries also took a hit late in the week...

9/27/2026, 12:14 PM

by Sijoittaja-alokas

As I have said so many times, we are here for you after all! Antti and I regularly exchange thoughts on Sampo, and we have shared very similar...

9/27/2026, 8:23 AM

by Sauli Vilen

Thanks for taking the trouble, Sauli, to comment on the matter on the forum for the second time, even on a weekend! For comparison, I will quote...

9/27/2026, 5:57 AM

by Ju-ha-ni

During my 15-year tracking history, Sampo’s share has been drastically mispriced twice. In 2011-2012 (the aftermath of the financial crisis ...

9/27/2026, 5:24 AM

by Sauli Vilen

143

Sampo: Still not hopping off

SAMPOResearch05.05.2022, 12.20

Sauli Vilén, Matias Arola

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Key Estimate Figures04.05.2022

	2021	22e	23e
Revenue	9,746.0	10,248.4	9,577.2
growth-%	15.9 %	5.2 %	-6.5 %
EBIT (adj.)	2,190.0	1,835.1	1,593.0
EBIT-% (adj.)	22.5 %	17.9 %	16.6 %
EPS (adj.)	0.52	0.45	0.41
Dividend	0.74	0.33	0.52
Dividend %	9.3 %	3.7 %	5.9 %
P/E (adj.)	15.4	19.7	21.5
EV/EBITDA	7.5	12.5	13.6