Stock SYDB SYDBANK A/S
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Financials Sydbank A/S

Equities

SYDB

DK0010311471

Banks

Market Closed - Nasdaq Copenhagen
Other stock markets
 10:59:35 2024-05-03 am EDT 		5-day change 1st Jan Change
355.2 DKK -1.88% Intraday chart for Sydbank A/S +0.91% +20.98%
May. 01 Sydbank A/S Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 24 Moody's Changes Sydbank's Outlook to Positive, Confirms Ratings Amid Strong Solvency, Liquidity Profile MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,291 7,947 11,967 16,510 16,106 19,183 - -
Enterprise Value (EV) 1 8,291 7,947 11,967 16,510 16,106 19,183 19,183 19,183
P/E ratio 10.3 x 10.5 x 8.99 x 9.09 x 4.99 x 6.35 x 6.91 x 6.87 x
Yield 4.08% 2.97% 5.8% 5.73% 10.4% 8.16% 7.27% 7.32%
Capitalization / Revenue 2.14 x 2.01 x 2.53 x 3.01 x 2.19 x 2.6 x 2.74 x 2.75 x
EV / Revenue 2.14 x 2.01 x 2.53 x 3.01 x 2.19 x 2.6 x 2.74 x 2.75 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.76 x 0.68 x 0.97 x 1.25 x 1.07 x 1.2 x 1.15 x 1.08 x
Nbr of stocks (in thousands) 59,305 59,085 57,868 56,426 54,858 54,007 - -
Reference price 2 139.8 134.5 206.8 292.6 293.6 355.2 355.2 355.2
Announcement Date 2/26/20 3/2/21 3/2/22 3/1/23 2/28/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,879 3,948 4,727 5,478 7,346 7,386 7,002 6,971
EBITDA - - - - - - - -
EBIT 1 1,096 1,174 1,550 2,438 2,360 4,111 3,706 3,428
Operating Margin 28.25% 29.74% 32.79% 44.51% 32.13% 55.66% 52.92% 49.17%
Earnings before Tax (EBT) 1 1,081 1,021 1,764 2,405 4,281 4,070 3,465 3,327
Net income 1 822 799 1,411 1,901 3,342 2,937 2,555 2,451
Net margin 21.19% 20.24% 29.85% 34.7% 45.49% 39.77% 36.48% 35.16%
EPS 2 13.60 12.80 23.00 32.20 58.80 55.96 51.38 51.68
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 5.700 4.000 12.00 16.77 30.56 29.00 25.84 26.01
Announcement Date 2/26/20 3/2/21 3/2/22 3/1/23 2/28/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,259 1,300 1,215 1,352 1,611 1,752 1,823 1,892 1,879 1,938 1,846 1,813 1,788
EBITDA - - - - - - - - - - - - -
EBIT 1 477 501 440 638 859 955 1,020 1,157 -635 1,107 1,005 1,046 952
Operating Margin 37.89% 38.54% 36.21% 47.19% 53.32% 54.51% 55.95% 61.15% -33.79% 57.12% 54.44% 57.69% 53.24%
Earnings before Tax (EBT) 1 482 570 389 562 884 980 1,015 1,179 1,107 1,138 1,005 1,026 927
Net income 1 398 445 303 439 714 734 758 917 933 861 739 756 681
Net margin 31.61% 34.23% 24.94% 32.47% 44.32% 41.89% 41.58% 48.47% 49.65% 44.43% 40.03% 41.7% 38.09%
EPS 2 6.500 7.400 5.000 7.400 12.40 12.80 13.20 16.10 16.70 15.50 13.55 13.84 12.48
Dividend per Share 6.300 - - - - - - - - - - - -
Announcement Date 3/2/22 4/25/22 8/24/22 11/2/22 3/1/23 5/3/23 8/23/23 11/1/23 2/28/24 5/1/24 - - -
1DKK in Million2DKK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 7.5% 6.6% 11.2% 14.8% 23.6% 19.8% 16.9% 16.1%
ROA (Net income/ Total Assets) 0.59% 0.51% 0.84% 1.09% 1.83% 1.54% 1.31% 1.32%
Assets 1 139,322 156,667 167,976 174,404 182,623 190,601 194,418 185,398
Book Value Per Share 2 185.0 198.0 213.0 233.0 274.0 296.0 309.0 329.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/26/20 3/2/21 3/2/22 3/1/23 2/28/24 - - -
1DKK in Million2DKK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Sydbank A/S

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
355.2 DKK
Average target price
410 DKK
Spread / Average Target
+15.43%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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