Stock HNR1 HANNOVER RE
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Financials Hannover Re Wiener Boerse

Equities

HNR1

DE0008402215

Reinsurance

Real-time Estimate Tradegate
Other stock markets
 03:48:07 2024-07-09 pm EDT 		5-day change 1st Jan Change
238.2 EUR -0.56% Intraday chart for Hannover Re -1.03% +11.29%
Jul. 05 HANNOVER RUECKVERSICHERUNG AG : JP Morgan keeps its Buy rating ZD
Jul. 05 Insurers continue to struggle - hurricane season weighs on business DP

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,779 15,714 20,158 22,371 26,085 28,895 - -
Enterprise Value (EV) 1 20,779 17,867 24,528 27,881 26,085 28,895 28,895 28,895
P/E ratio 16.2 x 17.8 x 16.4 x 15.9 x 14.3 x 12.8 x 11.8 x 11.1 x
Yield 3.19% 3.45% 3.44% - 3.33% 3.4% 3.74% 3.98%
Capitalization / Revenue 0.92 x 0.63 x 0.73 x 0.67 x - 1.16 x 1.05 x 1.02 x
EV / Revenue 0.92 x 0.63 x 0.73 x 0.67 x - 1.16 x 1.05 x 1.02 x
EV / EBITDA - - - - - - - -
EV / FCF - 5.21 x - - 4.85 x 22.9 x 24.3 x 27.3 x
FCF Yield - 19.2% - - 20.6% 4.37% 4.11% 3.67%
Price to Book 1.97 x 1.43 x 1.7 x 2.76 x 2.58 x 2.55 x 2.28 x 2 x
Nbr of stocks (in thousands) 120,597 120,597 120,597 120,597 120,597 120,597 - -
Reference price 2 172.3 130.3 167.2 185.5 216.3 239.6 239.6 239.6
Announcement Date 3/11/20 3/11/21 3/10/22 3/9/23 3/18/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 22,598 24,765 27,762 33,276 - 24,945 27,541 28,464
EBITDA - - - - - - - -
EBIT 1 1,853 1,214 1,735 2,087 1,971 3,212 3,465 3,614
Operating Margin 8.2% 4.9% 6.25% 6.27% - 12.88% 12.58% 12.7%
Earnings before Tax (EBT) 1 1,766 1,124 1,652 1,996 1,854 3,070 3,320 3,541
Net income 1 1,284 883.1 1,231 1,407 1,825 2,250 2,438 2,595
Net margin 5.68% 3.57% 4.44% 4.23% - 9.02% 8.85% 9.12%
EPS 2 10.65 7.320 10.21 11.66 15.13 18.66 20.30 21.59
Free Cash Flow 1 - 3,018 - - 5,375 1,262 1,187 1,060
FCF margin - 12.19% - - - 5.06% 4.31% 3.72%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - 341.79% - - 294.55% 56.09% 48.69% 40.85%
Dividend per Share 2 5.500 4.500 5.750 - 7.200 8.139 8.960 9.531
Announcement Date 3/11/20 3/11/21 3/10/22 3/9/23 3/18/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 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 2025 Q1 2025 Q2
Net sales 1 13,146 14,465 6,143 9,333 8,009 8,909 7,024 6,570 5,702 6,242 - 6,673 6,004 6,107 5,849 - -
EBITDA - - - - - - - - - - - - - - - - -
EBIT 1 503.5 956.1 454.2 396.4 522.9 408.9 759.3 720 632 484 134.4 810.5 767.3 776.9 895.1 - -
Operating Margin 3.83% 6.61% 7.39% 4.25% 6.53% 4.59% 10.81% 10.96% 11.08% 7.75% - 12.15% 12.78% 12.72% 15.3% - -
Earnings before Tax (EBT) 1 - - - 375.3 - 387.4 732.2 - - 458 109 784.6 757 825 778 - -
Net income 1 402.4 670.6 375.4 263.6 385.1 221.9 536.1 484 476 439 425.4 558.1 521.5 529 610.8 - -
Net margin 3.06% 4.64% 6.11% 2.82% 4.81% 2.49% 7.63% 7.37% 8.35% 7.03% - 8.36% 8.69% 8.66% 10.44% - -
EPS 2 3.340 5.560 3.110 2.190 3.190 1.840 4.450 4.020 3.940 3.640 3.530 4.630 4.331 4.495 5.145 - -
Dividend per Share 2 - - 5.750 - - - - - - - 7.200 - - - 8.250 - -
Announcement Date 8/5/20 8/5/21 3/10/22 5/4/22 8/4/22 11/3/22 3/9/23 5/11/23 8/9/23 11/9/23 3/18/24 5/14/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - 2,153 4,370 5,510 - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 3,018 - - 5,375 1,262 1,187 1,060
ROE (net income / shareholders' equity) 13.3% 8.2% 10.8% 14.1% 19% 20.8% 19.9% 18.5%
ROA (Net income/ Total Assets) 1.89% 1.24% 1.6% 1.66% 2.82% 3.4% 3.45% 3.61%
Assets 1 67,931 71,400 77,151 84,927 64,723 66,175 70,648 71,834
Book Value Per Share 2 87.30 91.20 98.60 67.10 84.00 93.90 105.0 120.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/11/20 3/11/21 3/10/22 3/9/23 3/18/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Hannover Re

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
15
Last Close Price
239.6 EUR
Average target price
242.5 EUR
Spread / Average Target
+1.22%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Property & Casualty Reinsurance

1st Jan change Capi.
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HAMILTON INSURANCE GROUP, LTD. Stock Hamilton Insurance Group, Ltd.
+5.25% 1.74B
CONDUIT HOLDINGS LIMITED Stock Conduit Holdings Limited
+5.86% 1.02B
SAUDI REINSURANCE COMPANY Stock Saudi Reinsurance Company
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IRB - BRASIL RESSEGUROS S.A. Stock IRB - Brasil Resseguros S.A.
-31.13% 458M
GREENLIGHT CAPITAL RE, LTD. Stock Greenlight Capital Re, Ltd.
+7.36% 438M
KUWAIT REINSURANCE COMPANY K.S.C.P. Stock Kuwait Reinsurance Company K.S.C.P.
+10.00% 359M
Property & Casualty Reinsurance
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