POSR closed yesterday’s trading day at EUR 24.4 per share, increasing by 5.6%

The share price of Sava Re surged yesterday amid positive Q1 results. As a reminder, the Group’s GWPs increased by 9% YoY, while net profit doubled on the back of a solid operating result and lower claims incurred. A detailed company note was already provided to our research subscribers.

The market reacted positively to Q1 results, with share price increasing by as much as 5.63%, closing at EUR 24.4 per share. Meanwhile, total turnover of the share amounted to EUR 300k, which above 1Y average of EUR 92k. When looking at the share price performance since the beginning of the year, Sava Re finds its place among top gainers in Slovenia, with a YTD increase of 32%.

We note that at the current share price, the company is traded at a P/B of 0.79x.