ALM. Brand A/S Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : One question relating to your guidance for the full year and the DKK 50 million upgrade, if I understood you correct, Rasmus, you said, you had DKK 30 million of COVID-19 benefits, which were lastly as expected. But I also assume you recall at the Q4 numbers, I believe you said you hadn't included COVID-19 in your guidance. So just a bit of clarity on whether the DKK 50 million upgrade is that impacted by the DKK 30 million of COVID-19? Or is that not included in that guidance upgrade?

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : Okay. So when you say DKK 30 million as expected, that was not referring to the guidance, but just what you had in your internal...

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : Yes, sure. The initial guidance of DKK 575 million for Non-life for this year. Did that include DKK 30 million of COVID-19 benefits for Q1? Or is that something that was not included at that time in the guidance?

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : Okay. All right. Okay. I think you said something differently at Q4. But anyway, okay. So it was included in the DKK 575 million. Got it.

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : Is it possible because when I look at the 3% impact or the DKK 30 million -- sorry, is it possible to split that between private and corporate?

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : Most is in private. Okay, fair enough. And then a final question from my side. A little bit back to Per's question on the growth, which, I guess, needs to be quite intense in Q2, Q3, and Q4. But you also said Rasmus that you would back away from areas where competition is tough, which I guess is in some of the private areas, if I understood you correctly, also in the presentation. So what are the areas where you think competition is less intense and where you expect to outgrow more than in those more competitive intense areas?

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : But isn't also exactly one of those areas where you expect to grow with the new distribution agreements? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 06, 2021 / 9:00AM, ALMB.CO - Q1 2021 ALM. Brand A/S Earnings Call

Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst : All right. Then on Life on your growth, which, of course, is quite low in Q1, but you're right in the report that you expect that to pick up in Q2 with the deals that you've already made in Q1. So I mean, I was just wondering, how certain are you about the growth potential here given the guaranteed products? And as you also alluded to the FSA new guaranteed -- maximum guaranteed rate or whatever you want to call it, in these negative rate environments. Is there a risk that you might be too optimistic about the growth opportunities, maybe not for Q2,, but midterm?