12 February 2021
Despite a historic and challenging year characterised by COVID-19, PFA achieved an operating profit of DKK 1.3 billion in 2020, which is significantly better than anticipated. For the first time, payments have rounded a historic milestone of DKK 40 billion. The total investment return is DKK 31 billion in a turbulent investment year.
In 2020, PFA achieved an operating profit of DKK 1.3 billion as opposed to DKK 340 million in 2019, which has been driven by, among others, a significant improvement in the health and accident insurance results of DKK 1.4 billion. Of the operating result, DKK 1.1 billion is passed on directly to customers via PFA CustomerCapital, which is PFA’s model for sharing profits and risk with its customers. In addition to this, an investment return from PFA CustomerCapital is added so customers receive a transfer totalling DKK 1.4 billion.
“2020 is a year we will never forget. COVID-19 left a massive mark on the entire year and, at PFA, we had to adapt to a new reality quite quickly. This is why, in many ways, it is extremely satisfying that we are closing out 2020 as a strengthened PFA. We achieved an operating profit that is significantly improved and higher than anticipated. Therefore, we can pass on almost DKK 1.4 billion to our customers, which we, as a customer-owned company, are extremely satisfied with.”Source: PFA
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