Reported Earnings • Jul 21
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: €73.2m (down 6.2% from 2Q 2025). Net income: €24.1m (down 20% from 2Q 2025). Profit margin: 33% (down from 39% in 2Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Annonce • Mar 28
AS LHV Group Announces Changes In Audit Committee Composition, Effective March 25, 2026 AS LHV Group has appointed Christian Schröder as a new member of the Audit Committee for a three-year term, effective March 25, 2026. The term of the current committee member, Tauno Tats, ended on the same date. Following the change, the Audit Committee of LHV Group will continue with four members: Indrek Heinloo (Chairman), Verner Uibo, Christian Schröder and Rain Lõhmus. Christian Schröder is a member of the Supervisory Board of LHV Group as of March 25, 2026. He is also a member of the Board of Directors (Non-Executive Director, NED) of LHV Bank Limited, the UK subsidiary of LHV Group. Additionally, he belongs to the Supervisory Board and the Risk Committee of Bank Pictet & Cie (Europe) AG. Schröder has over 25 years of international experience in the financial sector, with a strong background in banking management, working with regulatory oversight and the strategic transformation of large organisations. Schröder and persons closely associated with him do not hold any shares of LHV Group. Annonce • Mar 04
AS LHV Group, Annual General Meeting, Mar 25, 2026 AS LHV Group, Annual General Meeting, Mar 25, 2026, at 13:00 FLE Standard Time. Location: swissotel tallinn hotel, tornimae 3, 10145 tallinn 6th floor, Estonia Annonce • Mar 03
AS LHV Group Proposes Dividend Distribution for the Financial Year 2025, Payable on 15 April 2026 The Management Board of AS LHV Group proposed that the Annual General Meeting distribute the profit for 2025 as follows: to pay dividends of EUR 0.17 per share. The list of shareholders entitled to dividends will be fixed as at the close of business of the Nasdaq CSD settlement system on 10 April 2026. Consequently, the day of change of the rights attaching to the shares (ex-date) is set to 9 April 2026. From this day onwards, a person acquiring the shares will not have the right to receive dividends for the financial year 2025. Dividends will be paid to shareholders on 15 April 2026. Annonce • Feb 12
AS LHV Group Provides Earnings Guidance for the Year 2026, 2027, 2028, 2029 and 2030 AS LHV Group provided earnings guidance for the year 2026, 2027, 2028, 2029 and 2030. For the year 2026, the company expects Net interest income of EUR 252.9 million, Total income of EUR 333.6 million and net profit of EUR 117.9 million.
For the year 2027, the company expects Net interest income of EUR 315.1 million, Total income of EUR 410.0 million and net profit of EUR 176.1 million.
For the year 2028, the company expects Net interest income of EUR 362.9 million, Total income of EUR 466.2 million and net profit of EUR 207.6 million.
For the year 2029, the company expects Net interest income of EUR 409.4 million, Total income of EUR 525.1 million and net profit of EUR 245.1 million.
For the year 2030, the company expects Net interest income of EUR 464.4 million, Total income of EUR 593.4 million and net profit of EUR 290.2 million. Annonce • Oct 25
LHV Group AS Announces Demise of Heldur Meerits, Supervisory Board Member LHV Group AS announced that its long-serving Supervisory Board member, Mr. Heldur Meerits, has passed away. Annonce • Sep 19
AS LHV Group Appoints Rain Lõhmus as Member of Audit Committee, Effective September 18, 2025 The supervisory board of AS LHV Group has appointed the chairman of the group's supervisory board, Rain Lõhmus, as the fourth member of the audit committee as of September 18, 2025, with a term valid until September 18, 2028. The chair and the other members of the audit committee will continue in their current roles and terms. Rain Lõhmus is one of the founders of LHV and currently serves as the chairman of the supervisory board of LHV Group and as a member of the supervisory board of LHV Pank. In addition, he is a member of the supervisory board of Kodumaja AS. He is also the owner and management board member of AS Lõhmus Holdings and Lohmus Capital OÜ, and the owner of OÜ Merona Systems and Kõrberebane OÜ. Additionally, he is one of the owners of Umblu Records OÜ, OÜ KODRESTE and Zerospotnrg OÜ. Rain Lõhmus. Annonce • Mar 27
AS LHV Group Announces Resignation of Madis Toomsalu as CEO Madis Toomsalu, the Chairman of the Management Board of AS LHV Group, has informed the company’s Nomination Commitee and the Supervisory Board of his will to resign by the fall of this year. Preparations are underway to find a new Chairman of the Board for the financial group. Mr. Toomsalu has worked in LHV since 2007 when he arrived as an intern. He became the first credit analyst in LHV Pank and afterwards led the field as Head of Credits and Chairman of the Credit Committee. Since 2016 he has held the position of Chairman of the Management Board of LHV Group. Additionally he is the Chairman of the Supervisory Boards of AS LHV Pank, AS LHV Kindlustus, AS LHV Varahaldus and the Chairman of the Board of Directors of LHV Bank Ltd. Under his leadership LHV's loan portfolio has increased tenfold, reaching nearly EUR 5 billion today. In addition to the rapid growth of LHV Pank in Estonia, LHV Bank, operating in England, and LHV Kindlustus, providing insurance services, have been established during this time. LHV has remained the best bank in Estonia, the most attractive employer, and the company with the best investor relations. The LHV's Nomination Committee has started the process of finding a new CEO. The roles of the group and its CEO need to be re-mapped, taking into account future challenges. A suitable candidate must be approved by the LHV Group’s Supervisory Board and also by the financial supervision authorities. Annonce • Mar 26
AS LHV Group Approves Dividend for the Financial Year 2024, Payable on 10 April 2025 AS LHV Group approved the profit allocation proposal made by the Management Board and pay dividends in the net amount of 9 euro cents per share for the financial year 2024, at its AGM held on 26 March 2025. The list of shareholders entitled to receive dividends will be established as at on 9 April 2025 EOD of Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 8 April 2025. From this day onwards, the person acquiring the shares will not have the right to receive dividends for the financial year 2024. Dividends shall be disbursed to the shareholders on 10 April 2025. Annonce • Feb 15
AS LHV Group Provides Earnings Guidance for the Year 2025, 2026, 2027, 2028 and 2029 AS LHV Group provided earnings guidance for the year 2025, 2026, 2027, 2028 and 2029. For 2025, the company expects Net profit to be EUR 125.1 million.
For 2026, the company expects Net profit to be EUR 154.0 million.
For 2027, the company expects Net profit to be EUR 184.7 million.
For 2028, the company expects Net profit to be EUR 229.2 million.
For 2029, the company expects Net profit to be EUR 268.5 million. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: €0.10 (vs €0.12 in 3Q 2023) Third quarter 2024 results: EPS: €0.10 (down from €0.12 in 3Q 2023). Revenue: €77.6m (down 1.2% from 3Q 2023). Net income: €34.4m (down 12% from 3Q 2023). Profit margin: 44% (down from 50% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Annonce • Oct 01
AS LHV Group Revises Earnings Guidance for the Fiscal Year 2024 AS LHV Group revised earnings guidance for the fiscal year 2024. For the year, the company expects revised total revenue of EUR 349,397,000 and net profit of EUR 150,304,000 compared to previously expected total revenue of EUR 309,089,000 and net profit of EUR 120,081,000. Compared to the financial plan released in February, the new financial plan forecasts 13% higher revenue, 5% higher expenses, and 25% higher net profit by the end of 2024. The higher growth in interest income is thanks to an 8% larger loan portfolio and higher interest rates than forecast in the previous financial plan. At the same time, fee and commission income is affected by the slower growth in the income from financial intermediaries. Higher operating expenses are affected by the increase in the number of employees in recent years, one-off salary costs, IT costs, and the cost of developing the retail business in the United Kingdom. In addition, unlike what was expected in the previous plan, the fee of the Deposit Guarantee Fund did not decline this year. In terms of business volumes, the increase in the volume of loans is mainly due to home loans and corporate loans in Estonia. The volume of the LHV Bank Ltd. loans has remained at the same level as in the previous plan. Consolidated deposits are at the same level as previously forecast. The volume of funds has been reduced by 6% compared to the previous financial plan, whereas the number of payments by financial intermediaries has been increased by 12%. Reported Earnings • Jul 24
Second quarter 2024 earnings released: EPS: €0.12 (vs €0.11 in 2Q 2023) Second quarter 2024 results: EPS: €0.12 (up from €0.11 in 2Q 2023). Revenue: €82.2m (up 12% from 2Q 2023). Net income: €38.3m (up 8.3% from 2Q 2023). Profit margin: 47% (down from 48% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annonce • Jul 17
AS LHV Group and AS LHV Pank Announces Executive Changes, Effective November 18, 2024 Based on the proposition from the Nomination Committee, the Supervisory Board of AS LHV Group decided to elect Kadri Haldre to be the new Management Board member and Chief Risk Officer of LHV Group. She will join the Management Board as of 18 November 2024 for a five-year term. At the same time the Supervisory Board of AS LHV Pank resolved at the proposal of the Nomination Committee to elect Kadri Haldre also as a member of the Management Board and CRO of LHV Pank starting from 18 November for a five-year term. At the same time the Supervisory Board of AS LHV Pank resolved at the proposal of the Nomination Committee to elect Kadri Haldre also as a member of the Management Board and CRO of LHV Pank starting from 18 November for a five-year term. Whether the new board member meets the eligibility requirements will also be approved by the European Central Bank. The current member of the Management Board Martti Singi will be recalled from both boards as of 18 November 2024, as previously agreed. Kadri Haldre has been working in LHV since 2019 as Head of Treasury and is currently on maternity leave. From 2011 until 2019 she was working in Eesti Energia where she became the Head of Treasury and Investor Relations. Before that she filled managerial positions for Avaron Asset Management as well as Trigon Capital. Kadri Haldre holds a MSc in Economics and Business Administration from Copenhagen Business School and has completed bachelor studies in Economics and Business Administration in Stockholm School of Economics in Riga as well as in Law in Tartu University. Haldre belongs to the management of OÜ KMA Invest. Buy Or Sell Opportunity • Jun 07
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 3.5% to €3.54. The fair value is estimated to be €2.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 38%. Buy Or Sell Opportunity • May 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to €3.60. The fair value is estimated to be €2.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 38%. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: €0.13 (vs €0.10 in 1Q 2023) First quarter 2024 results: EPS: €0.13 (up from €0.10 in 1Q 2023). Revenue: €82.6m (up 18% from 1Q 2023). Net income: €40.5m (up 24% from 1Q 2023). Profit margin: 49% (up from 47% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Annonce • Apr 23
AS LHV Group Announces Impairment Charges for the First Quarter of 2024 AS LHV Group announced impairment charges for the first quarter of 2024. For the quarter, the company reported Impairment losses on loans and advances EUR 2,851,000 against EUR 1,583,000 a year ago. Annonce • Apr 19
AS LHV Group and AS LHV Pank Decide to Recall Management Board Member and CRO, Martti Singi The Supervisory Board of AS LHV Group has decided to recall the Management Board member and CRO Martti Singi by the end of 2024 at the latest as mutually agreed. Simultaneously, it has been decided to recall the Management Board member and CRO of AS LHV Pank within the same timeframe. Martti Singi has been working as the CRO at LHV since 2012. Last year, LHV became a systematically important bank under the supervision of the European Central Bank, and the related processes have now concluded. The management of LHV Group along with the Nomination Committee have started searching for a candidate for the new Management Board member. Changes in the Management Boards of LHV Group and LHV Pank are planned to be implemented by the end of year 2024, with the exact date depending on the progress of finding a new Management Board member. The decision on the suitability of the new Management Board member will also be made by the European Central Bank. Buy Or Sell Opportunity • Mar 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to €3.47. The fair value is estimated to be €2.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 36%. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: €0.44 (vs €0.19 in FY 2022) Full year 2023 results: EPS: €0.44 (up from €0.19 in FY 2022). Revenue: €298.9m (up 75% from FY 2022). Net income: €139.6m (up 133% from FY 2022). Profit margin: 47% (up from 35% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.88% (up from 2.01% in FY 2022). Cost-to-income ratio: 43.3% (down from 51.7% in FY 2022). Non-performing loans: 0.66% (up from 0.23% in FY 2022). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 29
Dividend increased to €0.13 Dividend of €0.13 is 225% higher than last year. Ex-date: 4th April 2024 Payment date: 12th April 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 39% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Feb 27
AS LHV Group Proposes Dividend for Financial Year 2023, Payable on 12 April 2024 AS LHV Group announced that at its AGM to be held on 20 March 2024, to propose profit distribution for financial year 2023: The profit attributable to LHV Group as the parent company of the consolidation group in the financial year 2023 amounts to EUR 140,938,000. Transfer EUR 0 to the legal reserve. Approve the profit distribution proposal made by the Management Board and pay dividends in the net amount of 13 euro cents per share. The list of shareholders entitled to receive dividends will be established as of 5 April 2024 EOD of the Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 4 April 2024. Dividends shall be disbursed to the shareholders on 12 April 2024. Reported Earnings • Feb 07
Full year 2023 earnings released: EPS: €0.44 (vs €0.19 in FY 2022) Full year 2023 results: EPS: €0.44 (up from €0.19 in FY 2022). Revenue: €298.9m (up 81% from FY 2022). Net income: €139.6m (up 133% from FY 2022). Profit margin: 47% (up from 36% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: €0.12 (vs €0.033 in 3Q 2022) Third quarter 2023 results: EPS: €0.12 (up from €0.033 in 3Q 2022). Revenue: €78.6m (up 113% from 3Q 2022). Net income: €39.1m (up 279% from 3Q 2022). Profit margin: 50% (up from 28% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 36% per year. Annonce • Aug 25
AS LHV Group Announces Executive Changes AS LHV Group resolved to renew the mandates of the Supervisory Board Members Veiko Poolgas and Jaan Koppel for a five-year term. Kadri Kiisel and Madis Toomsalu are also members of the Supervisory Board. Veiko Poolgas and Jaan Koppel have been members of the LHV Finance’s Supervisory Board since the company was founded. Both members are part of the comprehensive LHV Finance Supervisory Board in order to ensure the consumer lending company's reliable and legitimate planning of activities (including strategy and capital management), issuing operational instructions to the board, supervising the activities of LHV Finance and its Management Board, and adopting decisions on matters stipulated by law or Articles of Association. Reported Earnings • Jul 19
Second quarter 2023 earnings released: EPS: €0.11 (vs €0.044 in 2Q 2022) Second quarter 2023 results: EPS: €0.11 (up from €0.044 in 2Q 2022). Revenue: €74.1m (up 94% from 2Q 2022). Net income: €35.4m (up 161% from 2Q 2022). Profit margin: 48% (up from 35% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 37% per year. Annonce • Jun 30
AS LHV Group Announces Executive Appointment for LHV Bank Limited As of 2 January 2024, subject to regulatory approval, Rachelle Frewer will become the Chief Financial Officer of LHV Bank Limited, a subsidiary of AS LHV Group. The Chief Financial Officer will also be appointed to the Board of Directors of LHV Bank Limited. Rachelle is an experienced finance leader and Board member with over 20 years working in financial services. She is currently Chief Financial Officer and a Board member at Moneycorp Bank Limited and Moneycorp Europe S.A., which are part of Moneycorp Group. Prior to joining Moneycorp, Rachelle was Chief Financial Officer at Wyelands Bank from 2019 to 2022. Rachelle is an ACA qualified KPMG trained accountant. She has broad experience working in large and small financial institutions, with leadership roles in Finance, Treasury, Operations, Investor Relations and Compliance. Rachelle is also a member of the Finance, Assurance and Risk Committee at The Institute of Civil Engineers, and a Board member of Paxton Management Company Limited. Upcoming Dividend • Mar 28
Upcoming dividend of €0.04 per share at 1.1% yield Eligible shareholders must have bought the stock before 04 April 2023. Payment date: 12 April 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.4%). Annonce • Feb 14
AS LHV Group Provides Earnings Guidance for 2023, 2024, 2025, 2026 and 2027 AS LHV Group provided earnings guidance for 2023, 2024, 2025, 2026 and 2027. For the year 2023, the company expects net profit to be EUR 108.2 million. For the year 2024, the company expects net profit to be EUR 117 million.For the year 2025, the company expects net profit to be EUR 138.1 million. For the year 2026, the company expects net profit to be EUR 165.1 million. For the year 2027, the company expects net profit to be EUR 186.1 million. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: €0.19 (vs €0.20 in FY 2021) Full year 2022 results: EPS: €0.19. Revenue: €165.5m (up 21% from FY 2021). Net income: €59.8m (up 2.7% from FY 2021). Profit margin: 36% (down from 43% in FY 2021). The decrease in margin was driven by higher expenses. Annonce • Nov 18
AS LHV Group announced that it expects to receive €10 million in funding AS LHV Group announced a private placement of 100 Tier 1 temporary write-down notes bonds to be issued at an issue price of €100,000 per bond for proceeds of €10,000,000 on November 17, 2022. The subscription period of bonds will start from November 21, 2022 to November 25, 2022. The transaction will include participation from financial institutions and proficient investors. The bonds carry an interest rate of 10.5%. The company has the right to increase or decrease the issuance amount. The bonds are perpetual and unsecured in nature. The transaction is expected to close on December 2, 2022. Annonce • Oct 20
AS LHV Group Announces Executive Changes AS LHV Group decided to elect Meelis Paakspuu, Martti Singi, and Jüri Heero as new Members of the Management Board. Madis Toomsalu, current Member of the Management Board, was appointed Chairman of the Management Board and his mandate was not changed. The mandates of the new Members of the Management Board will start on 1 November 2022 and will be valid until 31 March 2027. The current mandate of Madis Toomsalu is valid until 31 March 2026. Madis Toomsalu has been a Member of the Management Board of LHV Group since 2016. He is the Chairman of the Supervisory Boards of AS LHV Pank (LHV Pank), AS LHV Kindlustus, AS LHV Varahaldus, EveryPay AS and a Member of the Supervisory Board of AS LHV Finance. He is also the Chairman of the Board of Directors of LHV UK Ltd. and a Member of the Management Board of MTÜ FinanceEstonia. Madis Toomsalu and a person related to him own 1,031,090 shares of LHV Group (0.33% stake). He has the right to acquire a total of 860,310 shares of LHV Group for the options issued between 2020 and 2022. Meelis Paakspuu has been a Member of the Management Board and CFO of LHV Pank since 2015. He does not belong to governing bodies of any other companies. Meelis Paakspuu and persons related to him own 491,320 shares of LHV Group (0.16% stake) and he has the right to acquire a total of 527,700 shares of LHV Group for the options issued between 2020 and 2022. Martti Singi has been a member of the Management Board and Risk Manager of LHV Pank since 2012. He does not belong to governing bodies of any other companies. Martti Singi and persons related to him own 853,530 shares of LHV Group (0.27% stake) and he has the right to acquire a total of 506,410 shares of LHV Group for the options issued between 2020 and 2022. Jüri Heero has been a member of the Management Board and IT Manager of LHV Pank since 2007. He does not belong to governing bodies of any other companies. Jüri Heero and persons related to him own 1,012,180 shares of LHV Group (0.32% stake) and he has the right to acquire a total of 506,410 shares of LHV Group for the options issued between 2020 and 2022. All new Members of the LHV Group Management Board will continue to serve on the Management Board of LHV Pank. The right of representation specification of the Members of the Management Board resulting from the Articles of Association of LHV Group will also be entered in the Commercial Register: the Chairman of the Management Board alone or two Members of the Management Board jointly may represent LHV Group in transactions. Reported Earnings • Oct 20
Third quarter 2022 earnings released: EPS: €0.033 (vs €0.055 in 3Q 2021) Third quarter 2022 results: EPS: €0.033 (down from €0.055 in 3Q 2021). Revenue: €36.9m (up 6.3% from 3Q 2021). Net income: €10.3m (down 35% from 3Q 2021). Profit margin: 28% (down from 46% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Sep 16
AS LHV Group, Annual General Meeting, Mar 22, 2023 AS LHV Group, Annual General Meeting, Mar 22, 2023. Reported Earnings • Jul 21
Second quarter 2022 earnings released: EPS: €0.044 (vs €0.043 in 2Q 2021) Second quarter 2022 results: EPS: €0.044 (up from €0.043 in 2Q 2021). Revenue: €38.2m (up 14% from 2Q 2021). Net income: €13.5m (up 9.1% from 2Q 2021). Profit margin: 35% (down from 37% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 10
AS LHV Group has completed a Follow-on Equity Offering in the amount of €34.999992 million. AS LHV Group has completed a Follow-on Equity Offering in the amount of €34.999992 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 972,222
Price\Range: €36
Transaction Features: Rights Offering Reported Earnings • Apr 20
First quarter 2022 earnings released: EPS: €0.40 (vs €0.38 in 1Q 2021) First quarter 2022 results: EPS: €0.40 (up from €0.38 in 1Q 2021). Revenue: €34.0m (up 25% from 1Q 2021). Net income: €11.9m (up 7.6% from 1Q 2021). Profit margin: 35% (down from 41% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 06
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 13 April 2022. Payment date: 20 April 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.8%). Lower than average of industry peers (6.2%). Annonce • Mar 06
AS LHV Group (TLSE:LHV1T) agreed to acquire EveryPay AS for €8 million. AS LHV Group (TLSE:LHV1T) agreed to acquire EveryPay AS for €8 million on March 4, 2022. For the amount received, EveryPay shareholders will subscribe to new shares issued by LHV Group. In essence, this is a share exchange transaction. A prerequisite for the transaction taking place is its approval and the respective decision to increase share capital at the general meeting of shareholders of LHV Group, which will be held on 30 March 2022. The purchase price and other basic conditions of the transaction (in the non-confidential extent), as well as the conditions for increasing share capital, will be announced to the shareholders of LHV Group with the notice calling the general meeting. In 2021, EveryPay earned €1.2 million in revenue. Annonce • Mar 02
AS LHV Group Proposes Dividend for 2021, Payable on 20 April 2022 The Management Board of AS LHV Group proposes to the Annual General Meeting (AGM) to distribute the profit for 2021 as follows: to pay dividends of EUR 0.40 per share for a total amount of EUR 11.946 million; the income tax payable on dividends would be EUR 2.986 million; to add the profit of the reporting period, attributable to the parent company, in the amount of EUR 46.363 million, to the retained earnings. The list of shareholders entitled to dividends will be fixed as at the close of business of the settlement system on 14 April 2022. Consequently, the day of change of the rights attaching to the shares (ex-dividend date) is set to 13 April 2022. From that date, the person who acquired the shares will not be entitled to receive dividends for the financial year 2021. Dividends will be paid to shareholders on 20 April 2022. Annonce • Feb 15
LHV Group Financial Provides Earning Guidance for Full Year 2022 LHV Group financial provides earning guidance for full year 2022 . For the year the company expects that revenues will increase by 19% this year to EUR 166.8 million, and net profit by 2% to EUR 61.5 million against EUR 60.3 million for previous year. Reported Earnings • Feb 09
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €136.4m (up 47% from FY 2020). Net income: €58.3m (up 54% from FY 2020). Profit margin: 43% (up from 41% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 20
Third quarter 2021 earnings released: EPS €0.55 (vs €0.35 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €34.7m (up 47% from 3Q 2020). Net income: €16.0m (up 58% from 3Q 2020). Profit margin: 46% (up from 43% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 16% share price gain to €44.00, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 334% over the past three years. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 26% share price gain to €45.30, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 12x in the Banks industry in Europe. Total returns to shareholders of 348% over the past three years. 
