Allianz SE

Earnings Release • Mar 17, 2005

News Details

Corporate | 17 March 2005 07:11

Allianz AG: Earnings 2004

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— Allianz Group – Key figures 2004 2003 Total revenues (EUR bn) 96.9 93.8 Total insurance premiums (EUR bn) 88.2 85.0 Operating profit (EUR m) 1) 6,856 4,066 – Property/Casualty (EUR m) 3,979 2,437 – Life/Health (EUR m) 1,418 1,265 – Banking (EUR m) 603 -369 of which Dresdner Bank (EUR m) 599 -482 – Asset Management (EUR m) 856 733 Profit before goodwill amortization, taxes and minorities (EUR m) 6,347 4,274 Goodwill amortization (EUR m) -1,164 -1,413 Taxes (EUR m) -1,727 -146 Minorities (EUR m) -1,257 -825 Net income (EUR m) 2,199 1,890 – Property/Casualty (EUR m) 3,325 4,681 – Life/Health (EUR m) 808 38 – Banking (EUR m) 104 -1,279 of which Dresdner Bank (EUR m) 142 -1,305 – Asset Management (EUR m) -152 -270 Earnings per share (EUR) 6.01 5.59 Ratios: – Combined ratio (Property/Casualty) 92.9% 97.0% – Operating Cost-Income ratio(Life/Health)2) 95.5% 95.8% – Operating Cost-Income ratio (Dresdner Bank) 85.0% 91.5% – Cost-income ratio (Asset Management) 62.9% 67.2% 31.12.2004 31.12.2003 Shareholders’ equity (EUR bn) 30.8 28.6 Assets under Management (EUR bn) 1,078 996 thereof third-party AuM(EUR bn) 585 565 1) We define the operating profit as earnings from ordinary activities before taxation, excluding, as applicable for each respective segment, either all or some of the following items: net capital gains and impairments on investments, net trading income, intra-Allianz Group dividends and profit transfer, interest expense on external debt, restructuring charges, other non-operating income/(expense), acquisition-related expenses and amortization of goodwill. For a detailed description on how we measure operating profit and a reconcilation to profit before taxes and minorities, see analysts’ presentation ‘Group financial results 2004’, section ‘Additional information’. The document is available to download from www.allianz.com/investor- relations. 2) Operating Cost-Income Ratio = (benefits + expenses) / (net premium earned + current investment income). For a more detailed definition see analysts’ presentation, Appendix/Glossary. These assessments are, as always, subject to the disclaimer provided below. 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 the Allianz Group’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) the extent of credit defaults (vii) interest rate levels, (viii) currency exchange rates including the Euro-U.S. dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The matters discussed herein may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement. No duty to update The company assumes no obligation to update any information contained herein. end of message, (c)DGAP 17.03.2005 —————————————————————————— WKN: 840400; ISIN: DE0008404005; Index: DAX-30, EURO STOXX 50 Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart; EUREX; Swiss Exchange; London; Paris; NYSE 170711 Mär 05