Wüstenrot & Württembergische AG: W&W Group increases income forecast
Wüstenrot & Württembergische AG (W&W) is adjusting its forecast for its consolidated results for 2021. The consolidated net profit for the year according to IFRS will most likely amount to between €280 million and €330 million. Up to now, a consolidated net profit at the upper end of the strategic target corridor of €220 to €250 million had been forecast for 2021. In 2020 net income amounted to €210.8 million.
The increased forecast is subject to no new negative influences caused by the coronavirus pandemic, economic upheavals and unforeseeable major damaging events occurring in the second half of the year. For the net income of W&W AG pursuant to the German Commercial Code (HGB), the forecast for 2021 is increasing to €110 million, where up till now €100 million had been forecast.
The trend up till now in 2021 had a positive impact on the W&W Group, in particular the capital market development and a favourable claims development in property insurance.