Wüstenrot & Württembergische AG: Net income above forecast
According to preliminary figures for the 2014 financial year, which have not yet been audited, Wüstenrot & Württembergische AG (W&W) will post consolidated IFRS net income of approximately EUR 240 million. That would exceed the November 2014 forecast of EUR 200-230 million. Net income came in at around EUR 155 million for 2013.
Business performance for the year as a whole was marked in particular by a continued, persistent focus on cost management in connection with the reinforcement programme “W&W 2015”, positive claims development, and gains from the sale of investments. Another contributing factor was a positive measurement effect with regard to financial investments.
According to preliminary, unaudited figures, net income 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 come in at EUR around 56 million and thus exceed the projected value for 2014 of around EUR 50 million.
The Group Management Report will be published together with the final figures in late March 2015.
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