Wüstenrot & Württembergische AG

Earnings Release • Jun 30, 2017

News Details

Corporate | 30 June 2017 11:01

Wüstenrot & Württembergische AG: W&W Group adjusts income forecast

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

30.06.2017 / 11:01

The issuer is solely responsible for the content of this announcement.

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* Consolidated net profit for 2017 expected to outperform forecast and previous year

* Growth in new business, sales and customer care measures prove effective, positive claims trend, anticipated special effect

* Investments in growth and digitisation

Wüstenrot & Württembergische AG (W&W) is adjusting its forecast for its consolidated results for 2017. The consolidated net profit for the year according to IFRS will most likely surpass the previous-year figure of EUR235 million noticeably. Previously, the consolidated net profit for 2017 had been predicted to reach the level of 2016.

The upward adjustment of the forecast is based on growth in new business, the effects of sales and customer care measures, and the very good claims trend in property insurance thus far. Additionally, an anticipated one-time effect will be noticeable.

The W&W Group is planning extensive investments to improve customer care and the addressing of customers as well as digitisation. At the same time, however, the Group expects the intensity of competition to increase further. The Group will also take advantage of this good performance for the purpose of making necessary investments under its own steam and further strengthening its fundament.

The business performance in the year to date does not necessarily mean that income will continue to develop in the same way beyond 2017.

The forecast for 2017 is subject to the condition that no major capital market events and claims occur.

Dr. Michael Gutjahr, CFO of Wüstenrot & Württembergische AG, remarks: “The income performance shows that our Group has become even stronger. Despite the low interest rates and sometimes difficult market conditions, we have stood our ground. This enables us to shore up our investments under our own steam.”

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30.06.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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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

End of News	DGAP News Service