Topdanmark A/S Announces Unaudited Group and Parent Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
January 25, 2018 at 06:40 am
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Topdanmark A/S announced unaudited group and parent earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, on group basis, the company's pre-tax profit was DKK 492 million against DKK 533 million a year ago. Profit for the period was DKK 379 million against DKK 421 million a year ago. Diluted EPS was DKK 4.4 compared to DKK 4.8 a year ago. Total premiums earned were DKK 4,431 million compared to the DKK 3,986 million for the same quarter year ago. Total investment return was DKK 1,028 million against DKK 1,269 million a year ago.
For the year, on group basis, the company's pre-tax profit was DKK 2,235 million against DKK 1,942 million a year ago. Profit for the year was DKK 1,733 million against DKK 1,536 million a year ago. Diluted EPS was DKK 20.2 compared to DKK 16.7 a year ago. Cash flow from operations was DKK 6,402 million against DKK 6,089 million a year ago. Investments in intangible assets, operating equipment were DKK 168 million against DKK 203 million a year ago. Investments in properties were DKK 180 million against DKK 162 million a year ago. Total premiums earned were DKK 17,235 million compared to the DKK 16,288 million for the same period year ago. Total investment return was DKK 4,124 million against DKK 4,189 million a year ago.
For the quarter, on parent basis, the company reported total investment return of DKK 392 million, pre-tax profit of DKK 376 million and profit for the period of DKK 379 million compared to total investment return of DKK 438 million, pre-tax profit of DKK 419 million and profit for the period of DKK 421 million for the same quarter year ago.
For the year, on parent basis, the company reported total investment return of DKK 1,764 million, pre-tax profit of DKK 1,722 million and profit for the year of DKK 1,733 million compared to total investment return of DKK 1,577 million, pre-tax profit of DKK 1,525 million and profit for the period of DKK 1,536 million for the same period year ago.
For the year 2018, the company still expects a positive premium growth in non-life insurance and post-tax profit forecast to be DKK 950 million to DKK 1,050 million excluding run-off.
Topdanmark A/S is a Denmark-based insurance company engaged in the insurance and pension fund business. The Companyâs activities are divided into such segments, as Personal, and SME (Small and Medium Enterprises) and Industrial. The Personal segment sells policies for individual households in Denmark. The SME and Industrial segment offers policies for Denmark-based SME, agricultural and industrial businesses. The Companyâs private insurance offering includes such insurance products, as home, vehicle, accident, pet, child and life and health insurance, as well as pension funds. Its corporate insurance offering includes property insurance, insurance of goods and equipment, and car insurance, among others. As of December 31, 2012, it had subsidiaries responsible for life and non-life insurance, as well as for asset management, investment and property-related activities.
Topdanmark A/S Announces Unaudited Group and Parent Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018