Wüstenrot & Württembergische AG

Earnings Release • May 4, 2020

News Details

Ad-hoc | 4 May 2020 10:56

Wüstenrot & Württembergische AG: W&W AG is adjusting its outlook for the financial year 2020

Wüstenrot & Württembergische AG / Key word(s): Change in Forecast

Wüstenrot & Württembergische AG: W&W AG is adjusting its outlook for the financial year 2020

04-May-2020 / 10:56 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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In view of the continuing negative economic effects of the Coronavirus pandemic, Wüstenrot & Württembergische AG is adjusting its outlook for the financial year 2020.

W&W AG is now expecting the net income after taxes to remain below the medium term target of €220 to €250 million. Due to the present uncertainties on the capital markets and the business climat in general, a sound and serious forecast for the financial year 2020 right now is not possible. In 2019 IFRS net income of the group reached € 249.1 million.

The positive operative results of the first quarter of 2020 are burdened especially by volatile capital markets as well as by special balance sheet effects due to the Coronavirus pandemic.

New business showed positive in the first quarter. The Quarterly Statement will be published on 15 May 2020.

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04-May-2020 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
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange
EQS News ID:	1035205

End of Announcement	DGAP News Service