The Board of Directors of Aktieselskabet Schouw & Co. has decided to initiate a share buy-back programme of up to DKK 120 million to be executed during the period 5 May to 31 December 2025. The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors by the annual general meeting on 10 April 2025, which authorises the company to acquire treasury shares at a nominal value of 20% in total of the company’s share capital. Currently, Schouw & Co. holds 2,041,993 trea ...

Company Performance - The financial performance for the first quarter of 2025 was satisfactory, with a net profit of DKK 1,249 million, an increase from DKK 1,005 million in Q1 2024, primarily driven by a net reversal of loan impairment charges [8][10][12] - The loan-to-value ratio fell to 51%, indicating strong credit quality of the loan portfolio [1] - Expenses decreased to DKK 223 million from DKK 278 million in Q1 2024, partly due to the final year of contributions to the Danish resolution fund [9] Market Conditions - Despite geopolitical and economic uncertainty, the Danish economy remains robust, with a decline in consumer confidence but supported by rising real income and a favorable labor market [2][15] - The housing market started well in 2025, with continued growth in activity and rising prices expected throughout the year [2] - The commercial real estate market showed steady expansion, with improved alignment of buyer and seller interests due to adjusted required rates of return reflecting higher interest rates [3][16] Lending and Financial Initiatives - Mortgage lending increased by DKK 1.1 billion in Q1 2025, with gross lending amounting to DKK 27.1 billion compared to DKK 23.2 billion in Q1 2024 [11] - The company has removed the additional margin on interest-only periods for new loans with a loan-to-value ratio below 60%, promoting a holistic view of personal finances [5] - There is significant potential for energy efficiency improvements in the Danish housing market, with around 10% of homeowners planning to enhance energy efficiency in the coming year [6][7] Climate Initiatives - Growing awareness among homeowners regarding climate change has led to new initiatives by Danske Bank to support homeowners in adapting their properties to climate effects, including fee-free loans [7] - In the commercial real estate sector, there is increasing momentum for energy efficiency improvements, with property owners actively addressing climate-related risks [8]

Financial Performance - Danske Bank reported a net profit of DKK 5.8 billion for Q1 2025, a 2% increase from DKK 5.6 billion in Q1 2024, driven by strong customer activity and credit quality [3][9] - The return on shareholders' equity rose to 13.3% in Q1 2025, up from 12.9% in Q1 2024, while the cost/income ratio improved slightly from 45.4% to 45.2% [2][9] - Total income for Q1 2025 was DKK 13.9 billion, compared to DKK 14.0 billion in Q1 2024, with operating expenses remaining stable at DKK 6.3 billion [9] Business Segments - The Personal Customers segment saw a profit before tax decrease of 18% to DKK 2.25 billion, primarily due to higher loan impairment charges and the divestment of the personal customer business in Norway [13] - The Business Customers segment experienced a profit before tax increase of 64% to DKK 2.83 billion, supported by loan impairment reversals and increased net fee income [14] - The Large Corporates & Institutions segment reported a profit before tax of DKK 2.4 billion, a 12% decrease from the previous year, attributed to higher loan impairment charges [15] Market Conditions - The Nordic economies demonstrated resilience amid global uncertainty, with promising growth and inflation outlooks, and robust employment [10] - Despite challenges such as US tariffs and potential recession risks, the foundation for decent economic outlook remains, supported by lower interest rates and increasing real incomes [12] Strategic Initiatives - Danske Bank continues to invest in technology and customer offerings as part of its Forward '28 strategy, aiming to enhance its position as a strong financial partner [2][6] - The bank published its Climate Action Plan Progress Report 2024, reaffirming its commitment to sustainability [6] Outlook - The company maintains its guidance for 2025, expecting net profit to be in the range of DKK 21-23 billion, subject to economic conditions [19]

Core Points - Danske Bank has initiated a share buy-back programme totaling DKK 5 billion, with a maximum of 45 million shares to be repurchased from February 10, 2025, to January 30, 2026 [1][2] Summary by Sections Share Buy-Back Programme - The share buy-back programme is conducted in compliance with the Market Abuse Regulation and Safe Harbour Rules [2] - As of the last announcement, Danske Bank has repurchased 3,084,865 shares at an average price of DKK 221.2445, totaling a gross value of DKK 682,509,325 [3] Transactions in Week 17 - In week 17, the following transactions were recorded: - April 22: 119,447 shares at DKK 213.7023, gross value DKK 25,526,099 - April 23: 464,122 shares at DKK 220.3929, gross value DKK 102,289,194 - April 24: 140,508 shares at DKK 218.7302, gross value DKK 30,733,343 - April 25: 179,937 shares at DKK 220.6244, gross value DKK 39,698,493 [3][4] - The total number of shares repurchased in week 17 amounted to 904,014 shares at an average price of DKK 219.2965, with a total gross value of DKK 198,247,128 [4] Total Accumulated Shares - The total number of shares repurchased under the programme has reached 3,988,879, representing 0.478% of Danske Bank's share capital, with an average price of DKK 220.8030 [4]

Core Points - Danske Bank has initiated a share buy-back programme totaling DKK 5 billion, with a maximum of 45 million shares to be repurchased from February 10, 2025, to January 30, 2026 [1][2] Summary by Sections Share Buy-Back Programme - The share buy-back programme is conducted in compliance with the Market Abuse Regulation and the Safe Harbour Rules [2] - As of the last announcement, Danske Bank has accumulated 2,374,865 shares at a volume-weighted average price (VWAP) of DKK 228.3460, amounting to a gross value of DKK 542,290,998 [3] - In week 15, the bank repurchased a total of 560,000 shares at a VWAP of DKK 193.6978, with a total gross value of DKK 108,470,752 [4] - The total number of shares repurchased under the programme has reached 2,934,865, representing 0.340% of Danske Bank's share capital [4]