Wüstenrot & Württembergische AG: Net income above forecast
Ad-hoc announcement according to § 7 MAR (Market Abuse Regulation)
According to preliminary figures for the 2021 financial year, which have not yet been audited, Wüstenrot & Württembergische AG (W&W) will post consolidated IFRS net income of EUR 350 to 360 million. This would exceed the target range, already increased on 23 June 2021 to EUR 280 and 330 million. Consolidated net income amounted to €210.8 million in 2020. The main reason for the renewed adjustment is the even more positive capital market trend. 2021 also saw a very good combined ratio being achieved in the property insurance portfolio due to cautious risk management.
According to preliminary, unaudited figures, net profit 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 be at EUR 110 million, in line with the forecast likewise adjusted in June 2021. 2020 saw a net income pursuant to the German Commercial Code (HGB) of EUR 100.3 million.
Ludwigsburg, 31. of January 2022, 15:00