Sydbank — Earnings Release 2018

Mar 12, 2018

ValueInvest Asset Management S.A., Luxembourg to be sold to Macquarie Investment Management - Upgraded outlook for 2018

ValueInvest Asset Management S.A., Luxembourg to be sold to Macquarie Investment Management - Upgraded outlook for 2018

Nasdaq Copenhagen A/S London Stock Exchange Bourse de Luxembourg Other stakeholders   Company Announcement No 10/2018	Peberlyk 4 6200 Aabenraa, Denmark   Tel +45 74 37 37 37 Fax +45 74 37 35 36   Sydbank A/S CVR No DK 12626509, Aabenraa sydbank.dk
12 March 2018

Dear Sirs

ValueInvest Asset Management S.A., Luxembourg to be sold to Macquarie Investment Management

Today the shareholders of ValueInvest Asset Management S.A. in Luxembourg – ValueInvest – have concluded an agreement for the sale of shareholdings in ValueInvest. Implementation of the transaction is conditional on approval by the Luxembourg supervisory authorities.

ValueInvest is not listed and supervisory approval of the transaction is expected in the second half of 2018 at the latest.

Implementation of the transaction will generate extraordinary income of around DKK 110m for Sydbank.

Upgraded outlook for 2018

As a consequence of the anticipated extraordinary income, the Bank’s expectations regarding non-recurring items for 2018 are adjusted upwards to a net income of around DKK 35m.

As a consequence of the anticipated extraordinary income, the Bank’s expectations regarding profit after tax for 2018 are adjusted upwards to be in the DKK 1,300-1,500m range.

Yours sincerely

Torben Nielsen                                Karen Frøsig

Chairman                                         CEO

Board of Directors                          

FM 10 UK