Allianz SE

Earnings Release • Feb 14, 2001

News Details

Ad-hoc | 14 February 2001 08:17

Ad hoc-Service: Allianz AG english

Ad-hoc announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Allianz Group – Preliminary Key Data for 2000 Gross premium income for the Allianz Group rose over the previous year by 7.9 billion euros from 60.6 to 68.5 billion euros. This amounts to growth of 13 percent. Premiums calculated under IAS rules which do not take account of sales in life-insurance products that are primarily savings oriented rose by 7.4 percent from 53.8 to 57.8 billion euros. Assets Under Management in the Allianz Group have risen since the close of 1999 from 384 to around 700 billion euros of which 331 billion euros represent investments managed for third parties. The purchase of the American asset manager PIMCO with assets under management of 296 billion euros was primarily responsible for this increase. Earnings before taxes are projected at 4.7 billion euros (1999: 4.8 billions euros). After the deduction of minority interests and the extraordinary fiscal effect of 1.1 billion euros, net income for the year is in excess of 2.3 billion euros. Taking into account special effects, this corresponds to an increase of nearly 12 percent over the adjusted figure of 2.1 billion euros for 1999. The extraordinary fiscal effect results from the reduction of corporate income tax in Germany from 40 to 25 percent. The comparable figures for 1999 have been restated in the course of reporting and valuation changes made for the US listing. The special-purpose funds (“Spezialfonds”) held by Allianz Group companies were also included in the Consolidated Financial Statements for the first time in order to comply with a new IAS Standard (SIC 12). The Board of Management of Allianz AG will recommend to the Supervisory Board an increase in the dividend per share from 1.25 to 1.50 euros for 2000. Outlook for 2001 – The Allianz Group anticipates a strong 5 percent increase in gross premium income for fiscal 2001 to 72 billion euros – based on exchange rates for 2000. The Board of Management expects an increase of around 13 percent in the adjusted net income for the year. This prediction is based on adjusted earnings for 2000 of over 2.3 billion euros. These assessments are as always subject to the disclaimer provided below. end of Ad hoc-announcement, (c) DGAP 24.12.2500 Issuer’s information/explanation remarks concerning this ad hoc announcement: Cautionary Note Regarding Forward-Looking Statements Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in Allianz AG’s core business and core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) interest rate levels, (vii) currency exchange rates including the Euro – U.S. dollar exchange rate, (viii) changing levels of competition, (ix) changes in laws and regulations, including monetary convergence and the European Monetary Union, (x) changes in the policies of central banks and/or foreign governments and (xi) general competitive factors, in each case on a local, regional, national and / or global basis. The matters discussed in this release may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. Allianz AG assumes no obligation to update any forward-looking information contained in this release. ———————————————————————– WKN: 840400; Index: DAX-30; EURO STOXX 50 Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart; London; New York; Swiss Exchange; Paris; EUREX 140817 Feb 01