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WüSTENROT & WüRTTEMBERGISCHE AG (FRA:WUW) Wüstenrot & Württembergische AG: Net income above forecast

Directive transparence : information réglementée

31/01/2022 14:20

DGAP-Ad-hoc: Wüstenrot & Württembergische AG / Key word(s): Forecast
Wüstenrot & Württembergische AG: Net income above forecast

31-Jan-2022 / 14:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


According to preliminary figures for the 2021 financial year, which have not yet been audited, Wüstenrot & Württembergische AG (W&W) will post consolidated IFRS net income of EUR 350 to 360 million. This would exceed the target range, already increased on 23 June 2021 to between EUR 280 and 330 million. Consolidated net income amounted to €210.8 million in 2020. The main reason for the renewed adjustment is the even more positive capital market trend. 2021 also saw a very good combined ratio being achieved in the property insurance portfolio due to cautious risk management.

According to preliminary, unaudited figures, net profit for the parent company W&W AG as calculated in accordance with the German Commercial Code (HGB), which is controlling for the dividend distribution, will be at EUR 110 million, in line with the forecast likewise adjusted in June 2021. 2020 saw a net income pursuant to the German Commercial Code (HGB) of EUR 100.3 million.

 

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Language: English
Company: Wüstenrot & Württembergische AG
Gutenbergstrasse 30
70176 Stuttgart
Germany
Internet: www.ww-ag.com
ISIN: DE0008051004
WKN: 805100
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange
EQS News ID: 1274702

 
End of Announcement DGAP News Service

1274702  31-Jan-2022 CET/CEST

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