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Sampo myi NOBA-osakkeita 111 MEUR:lla

SAMPOAnalyst Comment23.09.2026 klo 07.50

Sauli VilénAnalyst

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Sampo tiedotti tiistaina myyneensä NOBA:n osakkeita 111 MEUR:lla. Uutinen oli täysin odotettu, sillä yhtiö on jo pidempään halunnut irtaantua ei-strategisista pääomasijoituksistaan. Myynti vahvistaa entisestään näkemystämme siitä, että Sampo tulee julkistamaan uuden omien osakkeiden osto-ohjelman vielä loppuvuoden aikana. Todennäköinen ajankohta uudelle osto-ohjelmalle on joko Q3-tuloksen yhteydessä tai myöhemmin marraskuussa järjestettävän sijoittajapäivityksen yhteydessä. Uutinen ei aiheuta muutoksia ennusteisiimme.

Myynnin jälkeen Sammolle jää vielä 50 miljoonaa osaketta, mikä vastaa noin 10 prosentin omistusosuutta yhtiöstä ja odotamme Sammon jatkavan positionsa myyntiä markkinatilanteen niin salliessa. Laskelmiemme mukaan myyntihinta on lievästi yli Q2 lopun tasearvon, eli yhtiö kirjaa tästä myös sijoitustuottoihin pienen positiivisen tuoton Q3:lle.

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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 Figures12.08.

	2025	26e	27e
Revenue	9,078.0	9,730.3	10,421.8
growth-%	8.2 %	7.2 %	7.1 %
EBIT (adj.)	2,436.0	1,519.3	1,964.1
EBIT-% (adj.)	26.8 %	15.6 %	18.8 %
EPS (adj.)	0.74	0.45	0.61
Dividend	0.36	0.38	0.40
Dividend %	3.9 %	4.3 %	4.5 %
P/E (adj.)	12.5	19.6	14.4
EV/EBITDA	10.8	16.0	12.0

Forum discussions

I used today’s drop in the share price to my advantage (hopefully) by more than doubling my position (now about 2.5 percent of all my investments...

4 hours ago

[quote="Camelman, post:7341, topic:692"]\nThis big sales operation by Solidium is definitely weighing on the share price now\n\n[/quote]\n\nMost...

5 hours ago

by PörssiPatruuna

The interested parties were already called, and this morning the trades for the Solidium shares were wrapped up at a price of 9 € among the ...

5 hours ago

by Critter

So, are the calls to interested parties happening today after the market closes, or did that already happen yesterday? If it’s today, those ...

6 hours ago

by Hammer

This big sales operation by Solidium is certainly weighing on the share price right now, but on the other hand, I figure, won’t it also improve...

6 hours ago

by Camelman

Sauli requested an answer from a veteran banker. Sales of this type are almost always so-called accelerated bookbuilds (nopeutetut tarjousmenettelyt...

6 hours ago

by Rauli_Juva

These don’t go through the so-called “screen,” but rather two brokers agree on the trade between themselves, and the shares are transferred ...

8 hours ago

by Sauli Vilen

Sampo myi NOBA-osakkeita 111 MEUR:lla

SAMPOAnalyst Comment23.09.2026 klo 07.50

Sauli VilénAnalyst

Discuss

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Key Estimate Figures12.08.

	2025	26e	27e
Revenue	9,078.0	9,730.3	10,421.8
growth-%	8.2 %	7.2 %	7.1 %
EBIT (adj.)	2,436.0	1,519.3	1,964.1
EBIT-% (adj.)	26.8 %	15.6 %	18.8 %
EPS (adj.)	0.74	0.45	0.61
Dividend	0.36	0.38	0.40
Dividend %	3.9 %	4.3 %	4.5 %
P/E (adj.)	12.5	19.6	14.4
EV/EBITDA	10.8	16.0	12.0