LHV Group AS (STU:ASU0)
€ 3.23 -0.015 (-0.46%) Market Cap: 1.09 Bil Enterprise Value: -431.19 Mil PE Ratio: 11.11 PB Ratio: 1.44 GF Score: 78/100

Q1 2026 LHV Group AS Earnings Call Transcript

Apr 21, 2026 / 08:00 AM GMT
Release Date Price: €3.36 (-1.75%)

Key Points

Positve
  • LHV Group AS (FRA:ASU0) reported a net profit of EUR 20 million, in line with their financial plan.
  • The capital position and liquidity of the bank remain very strong, with all ratios exceeding internal targets.
  • LHV Bank in the UK saw a significant loan portfolio growth of almost 80% year-over-year.
  • The asset management division performed well, with both pension funds being the best performing in the market.
  • The company has been recognized as the best employer in the financial sector in Estonia.
Negative
  • LHV Insurance had a difficult quarter due to geopolitical events and adverse weather conditions, leading to higher claims.
  • Operating expenses increased by 7% quarter-over-quarter, partly due to one-off personnel-related costs.
  • There was a decline in net interest income due to margin compression compared to the first quarter of 2025.
  • The insurance business was loss-making in the first quarter, while it was profitable a year ago.
  • The net loss for the insurance division was EUR 700,000, contrary to expectations of a similar profit.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LHV1T.TL - LHV Group AS
Q1 2026 LHV Group AS Earnings Call
Apr 21, 2026 / 08:00AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Hello to everyone listening in. My name is Mikkel Torim.

Together with me, I have also LHV Group's CFO, Mr. Mail Spaksbu. Hello.

And we are here presenting LHV Group's first quarter 26 results.

And happy to take any questions you have afterwards.

So to summarize the first quarter.

Net profit was in line with the financial plan that we presented a while back. So together, we had roughly eur20 millionos net profit.

Capital position and liquidity remains very strong for the bank. All the ratios are exceeding internal targets with meaningful buffers.

On our subsidiaries, LHV Bank, which is the largest subsidiary that we have.

We have reached half a million customers in
Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
7-Day Free Trial · Cancel Anytime
Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot