NN Group (AMS:NN) Full Year 2023 Results

Key Financial Results

• 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.

• EPS: €4.04 (up from €1.65 in FY 2022).

NN Profitability Indicators

• Combined ratio: 92.6% (up from 92.3% in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

NN Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Insurance industry in Europe.

Performance of the market in the Netherlands.

The company's shares are up 1.9% from a week ago.

Risk Analysis

You still need to take note of risks, for example - NN Group has 1 warning sign we think you should be aware of.

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