Nordea: Convincing performance
Nordea's Q2 was the 10th consecutive quarter in which the bank's earnings level continued to improve and the Q2 result was also stronger than market expectations. Although we expect Nordea's earnings level to be close to its peak, we forecast profitability to remain strong in the coming years (2024-2026e: ROE ~15 %). In our view, the company is still exceptionally cheaply priced and thus the expected return looks attractive.
Nordea Bank
Nordea driver bankvirksomhed. Virksomheden tilbyder en bred vifte af finansielle tjenester rettet mod både private og erhvervskunder, herunder traditionel formueforvaltning, lånefinansiering og pensionsopsparing. Derudover tilbydes der også rådgivning og sikkerhedsforsikring samt valutahåndtering. Nordea har de største aktiviteter i de nordiske og baltiske lande. Virksomheden blev grundlagt i 1997 og har sit hovedkontor i Helsinki.
Read more on company pageKey Estimate Figures18.07.2023
2022 | 23e | 24e | |
---|---|---|---|
Driftsindtjening | 9.721,0 | 11.835,4 | 11.718,8 |
vækst-% | 1,05 % | 21,75 % | -0,99 % |
EBIT (adj.) | 5.299,0 | 6.527,9 | 6.069,4 |
EBIT-% (adj.) | 54,51 % | 55,16 % | 51,79 % |
EPS (adj.) | 1,11 | 1,41 | 1,35 |
Udbytte | 0,80 | 0,95 | 0,95 |
Udbytte % | 7,98 % | 8,89 % | 8,89 % |
P/E (adj.) | 9,05 | 7,54 | 7,88 |
EV/EBITDA | 7,70 | 5,72 | 5,98 |