Scandinavian Investment Group (SIG) Q3 2024 earnings summary

Executive summary

• Net income for Q3 2024 was DKK 4.5 million, with all three business segments performing as expected.

• For the period 1 January to 30 September 2024, net income reached DKK 14 million, corresponding to a return on equity (ROE) of 7.3%.

• Markets in 2024 have been highly diversified, with challenges in achieving strong returns despite minor interest rate declines.

Financial highlights

• Net income after tax for Q1–Q3 2024 was DKK 13.99 million, up from DKK 7.17 million in the same period last year.

• Equity at the end of Q3 2024 was DKK 194.03 million, with a solvency ratio of 62.2%.

• Book value per share (diluted) at the end of Q3 2024 was 4.16.

• October 2024 saw a net loss after tax of DKK -2.3 million, bringing YTD net income to DKK 11.69 million.

• Equity at the end of October 2024 was DKK 191.8 million, including DKK 7.9 million in share buybacks.

Outlook and guidance

• Full-year 2024 guidance confirmed, expecting to reach the lower end of the 10–15% ROE target after tax.

• Anticipates positive economic growth in 2025, mainly due to expected European interest rate cuts benefiting all business areas.

• Expects to activate an additional DKK 4 million in tax assets by year-end 2024.

• No value adjustment expected on the four properties as of 31 December 2024.