Wüstenrot & Württembergische AG

Earnings Release • Jan 31, 2022

News Details

Ad-hoc | 31 January 2022 14:20

Wüstenrot & Württembergische AG: Net income above forecast

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.

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A ccording 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 t he 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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31-Jan-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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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