Upcoming Dividend • May 18
Upcoming dividend of €2.50 per share Eligible shareholders must have bought the stock before 25 May 2026. Payment date: 02 June 2026. Payout ratio is on the higher end at 93% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.3%). Declared Dividend • Apr 10
Final dividend increased to €2.50 Dividend of €2.50 is 16% higher than last year. Ex-date: 25th May 2026 Payment date: 2nd June 2026 Dividend yield will be 5.4%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 63% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Feb 15
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 93% Cash payout ratio: 409% Dividend yield: 5.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Cash payout ratio: 409% Revenue is less than US$1m. New Risk • Feb 13
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risk Dividend is not well covered by cash flows (376% cash payout ratio). Duyuru • Sep 03
NN Group N.V. to Report Second Half, 2025 Results on Feb 12, 2026 NN Group N.V. announced that they will report second half, 2025 results on Feb 12, 2026 Declared Dividend • Aug 11
First half dividend increased to €1.38 Dividend of €1.38 is 7.8% higher than last year. Ex-date: 12th August 2025 Payment date: 20th August 2025 Dividend yield will be 5.7%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (47% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 09
NN Group N.V., Annual General Meeting, May 21, 2026 NN Group N.V., Annual General Meeting, May 21, 2026. Recent Insider Transactions • Jun 25
Chairman of Executive Board & CEO recently sold €838k worth of stock On the 20th of June, David Knibbe sold around 15k shares on-market at roughly €55.87 per share. This transaction amounted to 23% 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 David's only on-market trade for the last 12 months. Upcoming Dividend • May 12
Upcoming dividend of €2.16 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 27 May 2025. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 6.3%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.6%). Declared Dividend • Apr 04
Final dividend increased to €2.16 Dividend of €2.16 is 3.8% higher than last year. Ex-date: 19th May 2025 Payment date: 27th May 2025 Dividend yield will be 7.1%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Feb 22
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risk Paying a dividend despite having no free cash flows. Duyuru • Feb 21
NN Group N.V., Annual General Meeting, May 15, 2025 NN Group N.V., Annual General Meeting, May 15, 2025. Duyuru • Sep 05
NN Group N.V. to Report Fiscal Year 2024 Results on Mar 13, 2025 NN Group N.V. announced that they will report fiscal year 2024 results at 8:00 AM, Central European Standard Time on Mar 13, 2025 Reported Earnings • Aug 18
First half 2024 earnings released: EPS: €2.21 (vs €2.01 in 1H 2023) First half 2024 results: EPS: €2.21 (up from €2.01 in 1H 2023). Revenue: €6.79b (up 4.0% from 1H 2023). Net income: €603.0m (up 7.9% from 1H 2023). Profit margin: 8.9% (up from 8.6% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Insurance industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • May 21
Upcoming dividend of €2.08 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 20 June 2024. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 7.0%. Within top quartile of British dividend payers (5.7%). Higher than average of industry peers (4.0%). Declared Dividend • Apr 17
Final dividend increased to €2.08 Dividend of €2.08 is 16% higher than last year. Ex-date: 28th May 2024 Payment date: 20th June 2024 Dividend yield will be 7.5%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (dividend approximately 14x free cash flows). The dividend has increased by an average of 12% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: €4.04 (vs €1.65 in FY 2022) Full year 2023 results: EPS: €4.04 (up from €1.65 in FY 2022). Revenue: €10.3b (up 21% from FY 2022). Net income: €1.12b (up 130% from FY 2022). Profit margin: 11% (up from 5.7% in FY 2022). The increase in margin was driven by higher revenue. Combined ratio: 92.6% (up from 92.3% in FY 2022). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Insurance industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Duyuru • Feb 29
NN Group N.V. to Report First Half, 2024 Results on Aug 15, 2024 NN Group N.V. announced that they will report first half, 2024 results on Aug 15, 2024 Duyuru • Nov 03
NN Group N.V., Annual General Meeting, May 24, 2024 NN Group N.V., Annual General Meeting, May 24, 2024, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €29.55, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Insurance industry in the United Kingdom. Total returns to shareholders of 12% over the past three years. Reported Earnings • Sep 03
First half 2023 earnings released: EPS: €2.01 (vs €2.06 in 1H 2022) First half 2023 results: EPS: €2.01 (down from €2.06 in 1H 2022). Revenue: €9.14b (up 418% from 1H 2022). Net income: €559.0m (down 11% from 1H 2022). Profit margin: 6.1% (down from 35% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 7.1% p.a. on average during the next 3 years, while revenues in the Insurance industry in the United Kingdom are expected to grow by 36%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Duyuru • Aug 29
NN Group N.V. to Report Second Half, 2023 Results on Feb 29, 2024 NN Group N.V. announced that they will report second half, 2023 results on Feb 29, 2024 Upcoming Dividend • May 30
Upcoming dividend of €1.79 per share at 8.0% yield Eligible shareholders must have bought the stock before 06 June 2023. Payment date: 29 June 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.0%. Within top quartile of British dividend payers (5.9%). Higher than average of industry peers (4.5%). Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: €1.41 (vs €10.01 in FY 2021) Full year 2022 results: EPS: €1.41 (down from €10.01 in FY 2021). Revenue: €15.2b (down 20% from FY 2021). Net income: €417.0m (down 87% from FY 2021). Profit margin: 2.7% (down from 16% in FY 2021). The decrease in margin was driven by lower revenue. Combined ratio: 95.8% (up from 93.5% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 32% growth forecast for the Insurance industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 18
NN Group N.V. (ENXTAM:NN) announces an Equity Buyback for €250 million worth of its shares. NN Group N.V. (ENXTAM:NN) announces a share repurchase program. Under the program, the company will repurchase up to €250 million worth of its shares. Duyuru • Feb 16
NN Group N.V. to Report First Half, 2023 Results on Aug 29, 2023 NN Group N.V. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Aug 15
First half 2022 earnings released: EPS: €2.98 (vs €4.47 in 1H 2021) First half 2022 results: EPS: €2.98 (down from €4.47 in 1H 2021). Revenue: €9.16b (down 8.3% from 1H 2021). Net income: €917.0m (down 34% from 1H 2021). Profit margin: 10.0% (down from 14% in 1H 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 16% compared to a 708% growth forecast for the Insurance industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 11
NN Group N.V. to Report Second Half, 2022 Results on Feb 16, 2023 NN Group N.V. announced that they will report second half, 2022 results on Feb 16, 2023 Upcoming Dividend • May 16
Upcoming dividend of €1.56 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 15 June 2022. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 5.3%. Within top quartile of British dividend payers (4.9%). In line with average of industry peers (4.9%). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €42.79, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Insurance industry in the United Kingdom. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €84.51 per share. Reported Earnings • Feb 20
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €2.04b (down 90% from FY 2020). Net income: €3.28b (up 78% from FY 2020). Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 614%, compared to a 528% growth forecast for the insurance industry in the United Kingdom. Reported Earnings • Aug 18
First half 2021 earnings released: EPS €4.47 (vs €1.77 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €9.99b (up 1.2% from 1H 2020). Net income: €1.39b (up 148% from 1H 2020). Profit margin: 14% (up from 5.6% in 1H 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 17
Upcoming dividend of €1.47 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 16 June 2021. Trailing yield: 8.6%. Within top quartile of British dividend payers (4.1%). Higher than average of industry peers (3.6%). Reported Earnings • Feb 20
Full year 2020 earnings released: EPS €5.87 (vs €5.76 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: €7.65b (down 62% from FY 2019). Net income: €1.85b (down 3.0% from FY 2019). Profit margin: 24% (up from 9.4% in FY 2019). The increase in margin was driven by lower expenses. Combined ratio: 95.3% (down from 95.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 17
New 90-day high: €37.19 The company is up 8.0% from its price of €34.45 on 19 November 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €96.46 per share. Is New 90 Day High Low • Jan 04
New 90-day high: €36.02 The company is up 9.0% from its price of €33.16 on 06 October 2020. The British market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €92.18 per share. Is New 90 Day High Low • Dec 18
New 90-day high: €35.34 The company is up 6.0% from its price of €33.20 on 18 September 2020. The British market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €84.68 per share. Is New 90 Day High Low • Oct 29
New 90-day low: €29.91 The company is down 3.0% from its price of €30.89 on 30 July 2020. The British market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €68.37 per share.