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Sampo Oyj (SAXPY) Q4 2025 Earnings Call February 5, 2026 3:30 AM EST
Company Participants
Mirko Hurmerinta
Morten Thorsrud – Group CEO & Member of Group Executive Committee
Lars Kufall Beck
Knut Alsaker – Group CFO & Member of Group Executive Committee
Conference Call Participants
David Barma – BofA Securities, Research Division
Vash Gosalia – Goldman Sachs Group, Inc., Research Division
Hans Rettedal Christiansen – Danske Bank A/S, Research Division
Ulrik Zürcher – Nordea Markets, Research Division
Jaakko Tyrväinen – SEB, Research Division
Vinit Malhotra – Mediobanca – Banca di credito finanziario S.p.A., Research Division
Michele Ballatore – Keefe, Bruyette, & Woods, Inc., Research Division
Presentation
Mirko Hurmerinta
Good morning, everyone, and welcome to Sampo Group’s Conference Call on Full Year 2025 Results. My name is Mirko Hurmerinta, Investor Relations Manager at Sampo. I’m joined on the call by Group CEO, Morten Thorsrud; Group CFO, Knut-Arne Alsaker; and Lars Kufall Beck, Group CFO as of the beginning of April.
The call will include a short presentation by Morten and Lars, followed by Q&A. A recording of the call will later be available at sampo.com.
With that, I hand over to Morten. Please go ahead.
Morten Thorsrud
Group CEO & Member of Group Executive Committee
Thanks, Mirko, and warmly welcome from my side as well. Sampo delivered another strong year in 2025, marked by consistent execution, robust profitability and solid momentum across our Private and SME segments. We achieved a like-for-like growth of 8%, combined with disciplined underwriting, a benign claims environment and continued efficiency gains, supported even by Topdanmark synergies. This resulted in an underwriting profit of EUR 1.5 billion.
Our Investment portfolio also performed strongly, driven by both NOBA’s contribution and solid returns from the regular investment portfolio. Operating EPS reached EUR 0.50, and the Board has proposed a regular dividend of EUR 0.36 per share, a 6% increase year-on-year. Sampo remains
