Direktnyheter • Jun 24
AL Sydbank Begins 1.1 Billion Buyback Programme to Reduce Share Capital AL Sydbank has launched a DKK 1.1b share buyback programme, running from 2 March 2026 to 31 January 2027, with the explicit aim of reducing its share capital under applicable EU rules.
By week 25 of the programme, the bank had repurchased 808,420 shares, equal to about 0.91% of its share capital, indicating active execution of the announced plan.
AL Sydbank’s shares trade at DKK 564.00, and the stock is up 14.5% over the past 90 days. This provides investors with recent price momentum context alongside the capital return activity.
This level of buyback activity can matter for you because retiring shares can affect per share figures such as earnings or dividends, while also signalling that management is comfortable deploying capital to shareholders instead of keeping it on the balance sheet. Direktnyheter • Jun 17
AL Sydbank Stock: DKK 1.1b Share Buyback Aims to Lift Shareholder Value AL Sydbank has launched a DKK 1.1b share buyback programme running from 2 March 2026 to 31 January 2027, with the stated aim of reducing its share capital and returning value to shareholders.
The bank reports that by week 24 it had repurchased 777,600 shares, corresponding to 0.88% of its share capital.
The buyback is being carried out under applicable EU regulations and comes alongside focus on valuation, profitability, sustainability, dividend stability and credit quality.
This sizeable buyback reduces the share count over time, which can lift per-share figures such as earnings and dividends if the bank’s overall profit and payout levels remain unchanged.
Investors may want to watch how the ongoing repurchases interact with AL Sydbank’s capital position, credit quality and dividend policy as the programme progresses. Direktnyheter • Jun 09
AL Sydbank Launches DKK 1.1 Billion Buyback to Reduce Share Capital and Lift Shareholder Value AL Sydbank is running an ongoing share buyback of up to DKK 1.1b, started on 2 March 2026 and scheduled to run until 31 January 2027.
The bank has been buying back its own shares on a weekly basis, including 36,000 shares in weeks 17 and 20 and 43,000 shares in week 21.
As of week 23, AL Sydbank holds 708,420 treasury shares, equal to about 0.80% of its share capital, with the stated aim of reducing its share capital.
This buyback program reduces the share count over time, which can lift per share figures such as earnings per share if profits and other factors remain unchanged.
You should also weigh the potential benefits of capital returns against risks around dividend stability and credit quality, which the company itself highlights as areas to watch. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: kr.9.00 (vs kr.12.34 in 1Q 2025) First quarter 2026 results: EPS: kr.9.00. Revenue: kr.2.90b (up 65% from 1Q 2025). Net income: kr.775.0m (up 23% from 1Q 2025). Profit margin: 27% (down from 36% in 1Q 2025). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in Europe. Upcoming Dividend • Mar 15
Upcoming dividend of kr.25.00 per share Eligible shareholders must have bought the stock before 20 March 2026. Payment date: 24 March 2026. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Within top quartile of Danish dividend payers (4.8%). Lower than average of industry peers (5.6%). Declared Dividend • Mar 01
Dividend reduced to kr.25.00 Dividend of kr.25.00 is 7.0% lower than last year. Ex-date: 20th March 2026 Payment date: 24th March 2026 Dividend yield will be 4.4%, which is lower than the industry average of 5.6%. Sustainability & Growth Dividend is covered by earnings (71% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 72% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: kr.35.03 (down from kr.51.10 in FY 2024). Revenue: kr.8.36b (up 16% from FY 2024). Net income: kr.1.83b (down 33% from FY 2024). Profit margin: 22% (down from 38% in FY 2024). Cost-to-income ratio: 50.0% (up from 44.2% in FY 2024). Non-performing loans: 2.02% (up from 1.65% in FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Price Target Changed • Feb 20
Price target increased by 8.8% to kr.667 Up from kr.613, the current price target is an average from 2 analysts. New target price is 21% above last closing price of kr.550. Stock is up 32% over the past year. The company is forecast to post earnings per share of kr.31.60 for next year compared to kr.51.10 last year. Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 13%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from kr.6.92b to kr.7.09b. EPS estimate fell from kr.49.62 to kr.43.27 per share. Net income forecast to grow 49% next year vs 7.5% growth forecast for Banks industry in Denmark. Consensus price target broadly unchanged at kr.618. Share price was steady at kr.572 over the past week. Tillkännagivande • Dec 10
Sydbank A/S Revises Earnings Guidance for the Year 2025 Sydbank A/S revised earnings guidance for the year 2025. The Board of Directors decided this evening that Bankdata will be the future provider of IT solutions for AL Sydbank A/S. The exit from BEC is subject to payment of an exit fee, which, as a result of the speed of the merger process, is payable already in December 2025 (previously expected in 2026). Consequently profit for the year after tax is now projected to be in the range of DKK 1,700 million - DKK 1,900 million compared to a previously expected range of DKK 2,400 million - DKK 2,600 million. Tillkännagivande • Dec 05
Sydbank A/S Approves Board Changes At Sydbank's extraordinary general meeting on 4 December 2025 where the merger of Sydbank A/S, Aktieselskabet Arbejdernes Landsbank and Vestjysk Bank A/S was approved, the following new board members were elected to the Board of Directors: Claus Jensen, Trade Union President, the Danish Metal Workers' Union; Caroline Søeborg Ahlefeldt-Laurvig-Bille, Investment Director; Henning Egon Josefsen Overgaard, Trade Union President, the United Federation of Danish Workers (3F); and Christian Riewe, Attorney-at-Law and Partner, Law Firm Bjørst. After the extraordinary general meeting the Board of Directors elected Ellen Trane Nørby as Chair and Claus Jensen as Vice Chair. Consequently the Board of Directors consists of the following members: Ellen Trane Nørby (Chair), Claus Jensen (Vice Chair), Søren Holm, Janne Moltke-Leth, Jon Stefansson, Susanne Schou, Brian Østergaard Roed, Caroline Søeborg Ahlefeldt-Laurvig-Bille, Henning Egon Josefsen Overgaard, Christian Riewe as well as the following 4 members elected by the employees: Jarl Oxlund, Jørn Krogh Sørensen, Carsten Andersen and Pia Wrang. Tillkännagivande • Oct 31
Sydbank A/S Clarifies Earnings Guidance for the Year 2025 Sydbank A/S clarified earnings guidance for the year 2025. For the period, Profit after tax is expected to be in the range of DKK 2,400 million - DKK 2,600 million compared to a previously expected range of DKK 2,200 million - DKK 2,600 million . Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: kr.14.18 (vs kr.14.31 in 3Q 2024) Third quarter 2025 results: EPS: kr.14.18 (down from kr.14.31 in 3Q 2024). Revenue: kr.937.0m (down 49% from 3Q 2024). Net income: kr.710.0m (down 6.2% from 3Q 2024). Profit margin: 76% (up from 41% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: kr.10.90 (down from kr.13.98 in 2Q 2024). Revenue: kr.1.65b (down 13% from 2Q 2024). Net income: kr.550.0m (down 27% from 2Q 2024). Profit margin: 33% (down from 40% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.4%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, while revenues in the Banks industry in Denmark are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Aug 28
Sydbank A/S Provides Earnings Guidance for the Year 2025 Sydbank A/S provided earnings guidance for the year 2025. For the period, Profit after tax is expected to be in the range of DKK 2,200 million -2,600 million. New Risk • Aug 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.02% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.02% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Aug 10
Price target increased by 11% to kr.540 Up from kr.485, the current price target is an average from 2 analysts. New target price is 9.0% above last closing price of kr.495. Stock is up 46% over the past year. The company is forecast to post earnings per share of kr.48.98 for next year compared to kr.51.10 last year. Price Target Changed • Jun 26
Price target increased by 11% to kr.515 Up from kr.465, the current price target is provided by 1 analyst. New target price is 18% above last closing price of kr.437. Stock is up 18% over the past year. The company is forecast to post earnings per share of kr.48.87 for next year compared to kr.51.10 last year. Reported Earnings • May 07
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: kr.12.30 (down from kr.15.55 in 1Q 2024). Revenue: kr.1.75b (down 11% from 1Q 2024). Net income: kr.632.0m (down 26% from 1Q 2024). Profit margin: 36% (down from 43% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.4%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Denmark. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 23% per year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr.363, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Banks industry in Denmark. Total returns to shareholders of 87% over the past three years. Upcoming Dividend • Mar 14
Upcoming dividend of kr.26.88 per share Eligible shareholders must have bought the stock before 21 March 2025. Payment date: 25 March 2025. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of Danish dividend payers (5.6%). In line with average of industry peers (6.5%). Declared Dividend • Feb 28
Dividend reduced to kr.26.88 Dividend of kr.26.88 is 12% lower than last year. Ex-date: 21st March 2025 Payment date: 25th March 2025 Dividend yield will be 6.1%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is covered by earnings (53% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Feb 28
Sydbank A/S announces Annual dividend, payable on March 25, 2025 Sydbank A/S announced Annual dividend of DKK 26.8800 per share payable on March 25, 2025, ex-date on March 21, 2025 and record date on March 24, 2025. Reported Earnings • Feb 27
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: kr.50.90 (down from kr.58.95 in FY 2023). Revenue: kr.6.95b (down 7.8% from FY 2023). Net income: kr.2.76b (down 16% from FY 2023). Profit margin: 40% (down from 44% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, while revenues in the Banks industry in Denmark are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 26
Price target increased by 9.1% to kr.450 Up from kr.413, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of kr.451. Stock is up 27% over the past year. The company is forecast to post earnings per share of kr.51.49 for next year compared to kr.58.95 last year. Tillkännagivande • Feb 26
Sydbank A/S (CPSE:SYDB) announces an Equity Buyback for 5,400,000 shares, for DKK 1,350 million. Sydbank A/S (CPSE:SYDB) announces a share repurchase program. Under the program, the company will repurchase up to 5,400,000 shares for DKK 1,350 million. The price paid for shares may not differ by more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of purchase. The purpose of the program is to reduce the share capital of the company, optimize the capital structure in accordance with the company's capital targets and capital policy. The plan is valid till January 31, 2026. Tillkännagivande • Feb 20
Sydbank A/S Announces Resignation of Board Chairman Lars Mikkelgaard-Jensen, Effective March 20, 2025 After a decade on Sydbank A/S’s Board of Directors, Chairman Lars Mikkelgaard-Jensen has decided to resign from the Board of Directors. Lars Mikkelgaard-Jensen is not up for re-election for the Board of Directors. Following the successful CEO succession in 2024 as well as the determination of the Bank’s new strategy, Lars Mikkelgaard-Jensen has decided that now is a good time to stop and he will resign in connection with the Annual General Meeting on 20 March 2025. The Board of Directors will elect its new Chairman at the subsequent Shareholders’ Committee meeting which will be held on the same day. Lars Mikkelgaard-Jensen has been a member of Sydbank’s Board of Directors since April 2015 and he was elected Chairman in September 2019. Tillkännagivande • Dec 19
Sydbank A/S Revises Earnings Guidance for the Year 2024 Sydbank A/S revised earnings guidance for the year 2024. For the year, the company announced as a result of a major restructuring of Better Energy there is a risk of impairment charges in the region of DKK 450 million. As a consequence of this, profit after tax is expected to be in the range of DKK 2,700 million to DKK 2,900 million compared to DKK 2,800 million to DKK 3,100 million as previously announced. Reported Earnings • Nov 01
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: kr.14.30 (down from kr.16.11 in 3Q 2023). Revenue: kr.1.84b (down 4.7% from 3Q 2023). Net income: kr.767.0m (down 15% from 3Q 2023). Profit margin: 42% (down from 47% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is expected to fall by 3.1% p.a. on average during the next 3 years compared to a 3.2% decline forecast for the Banks industry in Denmark. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 27
Independent Director recently bought kr.340k worth of stock On the 21st of August, Soren Holm bought around 1k shares on-market at roughly kr.340 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr.940k more in shares than they have sold in the last 12 months. Tillkännagivande • Aug 23
Sydbank A/S, Annual General Meeting, Mar 20, 2025 Sydbank A/S, Annual General Meeting, Mar 20, 2025. Reported Earnings • Aug 22
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: kr.13.98 (up from kr.13.24 in 2Q 2023). Revenue: kr.1.88b (up 3.0% from 2Q 2023). Net income: kr.753.0m (flat on 2Q 2023). Profit margin: 40% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Banks industry in Denmark. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 22
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: kr.13.98 (up from kr.13.24 in 2Q 2023). Revenue: kr.1.88b (up 3.0% from 2Q 2023). Net income: kr.753.0m (flat on 2Q 2023). Profit margin: 40% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Banks industry in Denmark. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 13
Price target increased by 10% to kr.440 Up from kr.400, the current price target is provided by 1 analyst. New target price is 22% above last closing price of kr.359. Stock is up 10% over the past year. The company is forecast to post earnings per share of kr.57.32 for next year compared to kr.58.95 last year. Tillkännagivande • Jun 13
Sydbank A/S Revises Earnings Guidance for 2024 Sydbank A/S revised earnings guidance for 2024. For the period, Expectations are revised upwards to a profit after tax in the range of DKK 2,800 million -3,100 million. When the interim report for First Quarter 2024 was published on 1 May 2024 profit for the year after tax was expected to be in the range of DKK 2,500 million -2,900 million. The upward revision is based on the fact that the development in the core income has been more favourable than anticipated and moreover the robustness of the Danish economy remains impressive considering the interest rate level. Tillkännagivande • May 22
Sydbank A/S (CPSE:SYDB) concluded an agreement to acquire Coop Bank A / S from Coop Amba for approximately DKK 350 million. Sydbank A/S (CPSE:SYDB) concluded an agreement to acquire Coop Bank A / S from Coop Amba for approximately DKK 350 million on May 21, 2024. The consideration consists of payment of the value of the equity at the date of acquisition plus DKK 89 million. Following the acquisition, Coop Bank will become a wholly owned subsidiary of Sydbank A/S. The transaction is subject to approval of Danish financial supervisory authority and Danish Competition and Consumer Authority and is expected to be closed on July 31, 2024. Reported Earnings • May 01
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: kr.15.50 (up from kr.12.75 in 1Q 2023). Revenue: kr.1.96b (up 9.2% from 1Q 2023). Net income: kr.858.0m (up 19% from 1Q 2023). Profit margin: 44% (up from 40% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 9.2%. Revenue is forecast to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Banks industry in Denmark are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Mar 27
Sydbank A/S (CPSE:SYDB) acquired unknown additional minority stake in Fynske Bank A/S (CPSE:FYNBK). Sydbank A/S (CPSE:SYDB) acquired unknown additional minority stake in Fynske Bank A/S (CPSE:FYNBK) on March 26, 2024. Sydbank has increased its ownership in Fynske Bank to more than 20% of the shares.Sydbank A/S (CPSE:SYDB) completed the acquisition of unknown additional minority stake in Fynske Bank A/S (CPSE:FYNBK) on March 26, 2024. Upcoming Dividend • Mar 15
Upcoming dividend of kr.30.56 per share Eligible shareholders must have bought the stock before 22 March 2024. Payment date: 26 March 2024. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 7.8%. Within top quartile of Danish dividend payers (5.4%). Higher than average of industry peers (6.4%). Declared Dividend • Mar 07
Dividend of kr.30.56 announced Shareholders will receive a dividend of kr.30.56. Ex-date: 22nd March 2024 Payment date: 26th March 2024 Dividend yield will be 8.0%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is covered by earnings (52% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 18% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to decline by 15% over the next 3 years. However, it would need to fall by 42% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr.379, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Banks industry in Denmark. Total returns to shareholders of 178% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.642 per share. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: kr.58.80 (vs kr.32.35 in FY 2022) Full year 2023 results: EPS: kr.58.80 (up from kr.32.35 in FY 2022). Revenue: kr.7.46b (up 34% from FY 2022). Net income: kr.3.34b (up 80% from FY 2022). Profit margin: 45% (up from 33% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Banks industry in Denmark are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jan 25
Sydbank A/S Provides Earnings Guidance for 2024 Sydbank A/S provided earnings guidance for 2024. For the period, the company expects profit after tax in the range of DKK 2,500 to 2,900m. Tillkännagivande • Dec 21
Sydbank A/S to Revises Earnings Expectations Upwards as for 2023 Sydbank A/S revise earnings expectations upwards as regards profit for 2023. For the period, the company expects Profit after tax to be in the range of DKK 3,200 million - DKK 3,350 million as compared to be in the range of DKK 3,000 million - DKK 3,200 million expected previously. Price Target Changed • Dec 13
Price target decreased by 7.9% to kr.410 Down from kr.445, the current price target is an average from 2 analysts. New target price is 44% above last closing price of kr.286. Stock is up 8.4% over the past year. The company is forecast to post earnings per share of kr.57.54 for next year compared to kr.32.35 last year. Tillkännagivande • Dec 07
Sydbank A/S Announces Management Changes Sydbank A/S announced change in the composition of Sydbank’s Group Executive Management. The position of Deputy Group Chief Executive with responsibility for Credits and Compliance etc. is handed over to a new member of the Group Executive Management from the Bank’s own ranks. Member of the Group Executive Management and Deputy Group Chief Executive Bjarne Larsen resigns from his position in this connection. Sydbank’s current Group Executive Vice President, Credits, Stig Westergaard, is appointed as Deputy Group Chief Executive with responsibility for Credits and Compliance etc. The Board of Directors has decided to change the composition of the Group Executive Management. The changes are effective immediately. Stig Westergaard is a trained lawyer and has been employed with Sydbank for 20 years. He has been responsible for the Legal Department, Compliance and most recently Credits. Stig Westergaard is 56 years old, married, and the father of three children. The family lives in Kolding. Sydbank’s Group Executive Management thus consists of CEO Karen Frøsig, Deputy Group Chief Executive Jørn Adam Møller and Deputy Group Chief Executive Stig Westergaard. As previously announced by Sydbank, Mark Luscombe will join Sydbank as Deputy Group Chief Executive on 1 April 2024 with a view to being appointed as CEO after a transition period until 31 July 2024 when Karen Frøsig retires. Reported Earnings • Nov 02
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: kr.16.10 (up from kr.7.45 in 3Q 2022). Revenue: kr.1.93b (up 50% from 3Q 2022). Net income: kr.914.0m (up 114% from 3Q 2022). Profit margin: 48% (up from 33% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 8.3%. Revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Banks industry in Denmark are expected to grow by 1.2%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Nov 02
Sydbank A/S Provides Earnings Guidance for the Year 2023 Sydbank A/S provided earnings guidance for the year 2023. For the year, the company expects Core income is expected to be higher than in 2022. Impairment charges are forecast to represent a minor expense. Profit after tax is now expected to be in the range of DKK 3,000 million to 3,200 million. Tillkännagivande • Oct 05
Sydbank Announces Executive Changes On 29 September 2023, Sydbank announced that Karen Frøsig, its CEO of 13 years, wishes to retire. On 2 October 2023 the company announced that on 1 April 2024 Mark Luscombe will join Sydbank as Deputy Group Chief Executive with a view to being appointed as CEO after a transition period until 31 July 2024 when Karen Frøsig retires. Mark Luscombe comes from a position as Country Manager at SEB in Denmark. Mark Luscombe and his extensive experience from Citibank and SEB, where Mark Luscombe is currently Country Manager, represents all of that and therefore he can continue to work on strengthening Sydbank’s brand as the preferred bank of the corporate sector and on perfecting the Bank's offers to retail clients looking for professional advice. In connection with Sydbank’s appointment of Mark Luscombe, he was considered fit and proper by the Danish Financial Supervisory Authority as CEO. Mark Luscombe is an employee of SEB until 31 March 2024 and consequently further comments will not be provided at this time. Deputy Group Chief Executive Bjarne Larsen and Deputy Group Chief Executive Jørn Adam Møller will continue in their positions in the Group Executive Management. Tillkännagivande • Oct 01
Sydbank A/S Announces Retirement of Karen Frøsig, CEO Sydbank A/S announced that Karen Frøsig, CEO, has notified the Board of Directors that she wishes to retire in 2024. Karen Frøsig has been with Sydbank since 1994. First as Chief Legal Adviser and since 2008 as a member of the Group Executive Management. She has held the position of CEO since 2010. The Board of Directors has therefore worked on finding her successor and her replacement has been found. On 1 April 2024 the future CEO will join Sydbank as Deputy Group Chief Executive with a view to being appointed as CEO after a transition period until 31 July 2024 when Karen Frøsig retires. Deputy Group Chief Executive Bjarne Larsen and Deputy Group Chief Executive Jørn Adam Møller will continue in their positions in the Group Executive Management. Tillkännagivande • Sep 15
Sydbank A/S Revises Earnings Guidance for the Year 2023 Sydbank A/S revised earnings guidance for the year 2023. For the period, the company's expectations are revised upwards to a profit after tax in the range of DKK 2,900 million - DKK 3,200 million. In Company Announcement 12 on 14 June 2023 the company expected a profit after tax in the range of DKK 2,600 million - DKK 2,900 million for 2023. Tillkännagivande • Aug 23
Sydbank A/S Provides Earnings Outlook for the Year 2023 Sydbank A/S provided earnings outlook for the year 2023. For the period, the company expects Core income is expected to be higher than in 2022. Costs (core earnings) are projected to be higher than in 2022. Profit after tax is expected to be in the range of DKK 2,600-2,900 million. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: kr.13.25 (vs kr.5.09 in 2Q 2022) Second quarter 2023 results: EPS: kr.13.25 (up from kr.5.09 in 2Q 2022). Revenue: kr.1.83b (up 53% from 2Q 2022). Net income: kr.769.0m (up 161% from 2Q 2022). Profit margin: 42% (up from 25% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Denmark. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 43% per year. Tillkännagivande • Jul 18
Sydbank A/S (CPSE:SYDB) commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on March 23, 2023. Sydbank A/S (CPSE:SYDB) commences share repurchases on July 10, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 23, 2023. As per the mandate, the company is authorized to repurchase up to 10% of the company's share capital. The price paid for shares may not differ by more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of purchase. The plan is valid till the next annual general meeting.
On July 6, 2023, the company initiated a Market Repurchase. Under the program, the company will repurchase up to 4,000,000 shares for DKK 600 million. The repurchase will commence on July 10, 2023. The purpose of the program is to optimize the capital structure in accordance with the company's capital targets and capital policy. The plan is valid till January 31, 2024. Price Target Changed • Jul 04
Price target increased by 7.3% to kr.427 Up from kr.398, the current price target is an average from 3 analysts. New target price is 35% above last closing price of kr.317. Stock is up 51% over the past year. The company is forecast to post earnings per share of kr.52.19 for next year compared to kr.32.35 last year. Tillkännagivande • Jun 15
Sydbank A/S Revises Earnings Guidance for the Year 2023 Sydbank A/S revised earnings guidance for the year 2023. The company revised its expectations upwards as regards profit for 2023. Expectations are revised upwards to a profit after tax in the range of DKK 2,600-2,900 million. In Company Announcement 5 on 15 March 2023we announced that it expected a profit after tax in the range of DKK 2,300-2,600 million for 2023. Recent Insider Transactions • May 07
Independent Chairman recently bought kr.288k worth of stock On the 3rd of May, Lars Mikkelgaard-Jensen bought around 1k shares on-market at roughly kr.288 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr.319k. This was Lars' only on-market trade for the last 12 months. Reported Earnings • May 03
Full year 2022 earnings released: EPS: kr.32.35 (vs kr.23.18 in FY 2021) Full year 2022 results: EPS: kr.32.35 (up from kr.23.18 in FY 2021). Revenue: kr.5.58b (up 3.4% from FY 2021). Net income: kr.1.86b (up 36% from FY 2021). Profit margin: 33% (up from 25% in FY 2021). The increase in margin was primarily driven by lower expenses. Cost-to-income ratio: 55.5% (down from 67.2% in FY 2021). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Banks industry in Denmark. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • May 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be kr.360, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings is also forecast to grow by 6.8% per annum over the same time period. Recent Insider Transactions • Mar 24
Independent Director recently bought kr.319k worth of stock On the 15th of March, Soren Holm bought around 1k shares on-market at roughly kr.319 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr.46k more in shares than they have sold in the last 12 months. Major Estimate Revision • Mar 08
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from kr.6.35b to kr.6.78b. EPS estimate increased from kr.39.17 to kr.45.60 per share. Net income forecast to grow 37% next year vs 37% growth forecast for Banks industry in Denmark. Consensus price target up from kr.338 to kr.388. Share price rose 8.8% to kr.370 over the past week. Recent Insider Transactions • Mar 06
Employee Representative Director recently sold kr.273k worth of stock On the 2nd of March, Jorn Sorensen sold around 779 shares on-market at roughly kr.350 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Price Target Changed • Mar 02
Price target increased by 11% to kr.363 Up from kr.328, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of kr.362. Stock is up 70% over the past year. The company is forecast to post earnings per share of kr.42.39 for next year compared to kr.32.20 last year. Price Target Changed • Feb 23
Price target increased by 8.0% to kr.338 Up from kr.313, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of kr.352. Stock is up 66% over the past year. The company is forecast to post earnings per share of kr.31.43 for next year compared to kr.23.18 last year. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. Independent Director Soren Holm was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Tillkännagivande • Jan 24
Sydbank A/S Provides Earnings Guidance for the Year 2023 Sydbank A/S provided earnings guidance for the year 2023. For the year, the company expects profit after tax in the range of DKK 1,900 million to DKK 2,200 million. 