Wüstenrot & Württembergische AG
ISIN: DE0008051004
WKN: 805100
15 November 2024 10:09AM

EQS-News: W&W Group: Key portfolio figures expanded and on track operationally

Wüstenrot & Württembergische AG · ISIN: DE0008051004 · EQS - Company News
Land: Deutschland · Primärmarkt: Deutschland · EQS News ID: 2031295

EQS-News: Wüstenrot & Württembergische AG / Key word(s): Quarterly / Interim Statement/Quarter Results
W&W Group: Key portfolio figures expanded and on track operationally

15.11.2024 / 10:09 CET/CEST
The issuer is solely responsible for the content of this announcement.


Press information

Kornwestheim, 15 November 2024

W&W Group: Key portfolio figures expanded and on track operationally

 
  • New lending business grows by 17.6 per cent despite difficult housing market conditions. The portfolio of building loans has increased significantly.
     
  • Growth in life and health insurance and property/casualty insurance. Adam Riese increases gross premium portfolio by almost 29 per cent.
     
  • Financial performance according to IFRS accounting also burdened by high losses from natural disasters in the third quarter; W&W AG's net income pursuant to the HGB (German Commercial Code) is developing stably according to plan.
     
  • W&W Executive Board Chair Jürgen A. Junker: "Despite the weak economy in Germany and the many burdens that are unsettling companies and end consumers, the W&W Group has clearly demonstrated that it is on track operationally."

The Wüstenrot & Württembergische Group (W&W) kept its business on track in the first nine months of 2024 and further increased key portfolio figures, among other things. New lending business in the Housing division continues to develop particularly dynamically, achieving growth of 17.6 per cent through the end of September 2024. The earnings performance according to IFRS accounting was negatively impacted by massive claims burdens as a result of numerous storms in the W&W Group's core insurance region and significantly higher claims settlement costs, particularly in the second quarter of 2024, but also in the third quarter. Despite the high claims, the Group reported a net profit of EUR 5 million after nine months (same period in the previous year: EUR 101 million), following negative consolidated net income in the first half of the year. The net income of W&W AG according to HGB accounting methods continues to develop positively and stably according to plan.

Jürgen A. Junker, Chair of the Executive Board of W&W AG: "The W&W Group has clearly demonstrated that the business remains on track, despite the weak economic development in Germany, many unfavourable political decisions, and a lack of direction, which is causing increasing uncertainty among citizens and the economy. It is clear that people are investing more in residential property again, buying more existing properties and doing something for the value conservation of their real estates. This development is supported by lower interest rates, higher real incomes and the expectation of further increasing rentals against the previous year. New residential construction remains at a low level. This appears to be the result of uncertainty due to the very low volume of new construction and the expectation that rents will continue to rise. In property/casualty insurance, we were also able to achieve significant growth in the corporate, private and motor vehicle business. It remains true that everything we can influence ourselves is developing positively. Customer focus, especially in uncertain times like these, as well as cost efficiency, and strengthening our solid and sustainable economic foundations remain our most important guiding principles in the current environment. At the same time, we take great care to counteract the further sharp rise in the cost of claims settlement – for example in the case of car repair shops with hourly rates that are far too high – in the interest of our customers. Last but not least, we – like all primary insurers – are confronted with a significant change in reinsurers' business policies."

 

Division performance in the first nine months of 2024

Housing division

In the Housing division, new lending business (including brokering for third parties) reached EUR 3.39 billion in the first nine months of this year, an increase of 17.6 per cent compared to the same period of the previous year (EUR 2.89 billion). With this pleasing development, the W&W Group consolidated its market position.

At Wüstenrot Bausparkasse, disbursements of loans under a building savings contract increased by 40.9 per cent to EUR 786.1 million, compared to EUR 557.9 million in the same period of the previous year. New home loan savings business (gross) totalled EUR 8.25 billion and, as in the industry as a whole, remained below the very strong development of the previous year due to interest rates (first nine months of 2023: EUR 14.25 billion).

In the 100th anniversary year, a new record level of growth was achieved in the redeemed contract and customer loan portfolios as well as in non-pool deposits. The redeemed contract portfolio increased to EUR 129.3 billion (plus 4.4 per cent), the customer loan portfolio to 28.04 billion euros (plus 7.5 per cent) and the non-pool deposit portfolio to 6.3 billion euros (plus 137.5 per cent).

 

Insurance division

At Württembergische Lebensversicherung, new business by total premium fell to EUR 2.37 billion in the first three quarters of 2024 (first nine months of 2023: EUR 2.44 billion, which corresponds to -3.1 per cent). Company pension schemes once again performed above average, with new business by total premium remaining stable at EUR 834 million. This is all the more remarkable given the difficult economic situation of most companies. Württembergische Krankenversicherung's new annual premiums continued to develop positively, growing by a good 21 per cent in the first nine months.

In Württembergische Versicherung, the property/casualty insurance segment, gross premiums written rose by 7.5 per cent to EUR 2.35 billion from January to September 2024 (same period in the previous year: EUR 2.18 billion). All three divisions, private customers, motor vehicles and corporate customers, remained on course for growth. The new and replacement business in terms of the annual contribution to the portfolio increased by 3.1 per cent to EUR 361 million as of 30 September (first nine months of 2023: EUR 350 million).

Jürgen A. Junker: "The technical result for the first nine months is not only characterised by high losses from natural disasters due to the storms over the summer months, which we have fully processed on the balance sheet. The cost trend in the automotive industry, in particular, can no longer be explained by inflation alone. It has taken on proportions that unfortunately make premium adjustments unavoidable throughout the industry. Unfortunately, it is the insured who will ultimately pay the price for this development."

 

Outlook for 2024 as a whole

The W&W Group confirms its expectation that the financial planning group will report a net profit for the full year 2024 in accordance with IFRS accounting that is significantly below the previous year's figure of EUR 141 million due to the high losses from natural disasters and the effects of the sharp rise in the cost of settling claims. W&W AG's profit in accordance with HGB accounting, on the other hand, is expected to remain at the good target level of EUR 130 million. This assumes that there are no distortions on the capital and financial markets, no economic downturns and no further major loss events in the fourth quarter.



15.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Wüstenrot & Württembergische AG
W&W-Platz 1
70806 Kornwestheim
Germany
Internet: www.ww-ag.com
ISIN: DE0008051004
WKN: 805100
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange
EQS News ID: 2031295

 
End of News EQS News Service

2031295  15.11.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2031295&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f

Zur besseren Einschätzung der fundamentalen Entwicklung der jeweiligen Unternehmen bietet boersengefluester.de (BGFL) eine Übersicht mit den wesentlichen Kennzahlen zu Umsatz, Ergebnis, Cashflow und Dividende. Sämtliche Angaben werden manuell in unserer Datenbank erfasst – Quelle sind die jeweiligen Geschäftsberichte. Sofern es sich um Schätzungen für künftige Zahlen handelt, stammen sie durchweg von BGFL. 

Die wichtigsten Finanzdaten auf einen Blick
  2018 2019 2020 2021 2022 2023 2024e
Umsatzerlöse1 4.000,06 4.249,20 4.415,14 4.638,40 4.376,45 5.976,43 0,00
EBITDA1,2 320,49 353,01 306,87 480,66 353,53 284,16 0,00
EBITDA-Marge3 8,01 8,31 6,95 10,36 8,08 4,76 0,00
EBIT1,4 320,49 353,01 306,87 480,66 353,53 201,22 0,00
EBIT-Marge5 8,01 8,31 6,95 10,36 8,08 3,37 0,00
Jahresüberschuss1 215,19 249,06 210,75 352,15 261,50 140,54 110,00
Netto-Marge6 5,38 5,86 4,77 7,59 5,98 2,35 0,00
Cashflow1,7 -723,55 1.060,53 434,95 -795,99 -2.234,36 -108,12 0,00
Ergebnis je Aktie8 2,29 2,65 2,24 3,74 2,77 1,48 1,15
Dividende8 0,65 0,65 0,65 0,65 0,65 0,65 0,65
Quelle: boersengefluester.de und Firmenangaben
Legende

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

Alle relevanten Bewertungskennzahlen, Termine und sonstige Investor-Informationen zu Ihrer Aktie kompakt zusammengefasst. Gut zu wissen: Sämtliche Daten stammen von boersengefluester.de werden täglich aktualisiert. Damit sind Sie immer auf dem neuen Stand. Kurze Erkärungen zu den Kennzahlen bekommen Sie, wenn Sie mit dem Cursor bzw. der Maus auf das jeweilige Feld gehen.

INVESTOR-INFORMATIONEN
©boersengefluester.de
Wüstenrot & Württembergische
WKN ISIN Rechtsform Börsenwert IPO Einschätzung Plus Code
805100 DE0008051004 AG 1.080,00 Mio € 09.09.1999 Halten 8FWFV5JQ+QX
* * *
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV KBV KCV KUV
8,23 7,39 1,11 4,61 0,22 -9,99 0,18
Dividenden
Dividende '2022
in €
Dividende '2023
in €
Dividende '2024e
in €
Div.-Rendite '2024e
in %
0,65 0,65 0,65 5,64%
Finanztermine
Hauptversammlung Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
22.05.2025 15.05.2025 14.08.2025 15.11.2024 28.03.2025
Performance-Angaben
Abstand 60-Tage-Linie Abstand 200-Tage-Linie Performance YtD Kursveränderung 52 Wochen IPO
Akt. Kurs (EoD)
-0,35%
11,52 €
ATH 43,47 €
-3,95% -8,78% -13,64% -13,77% +0,00%

Werbung ist für uns ein wichtiger Einnahmekanal. Aber wir verstehen, dass sie manchmal lästig wird. Wenn Sie die Anzahl der angezeigten Werbung reduzieren möchten, loggen Sie sich einfach in Ihr Benutzerkonto ein und verwalten Sie die Einstellungen von dort aus. Als registrierter Benutzer erhalten Sie viele Vorteile.
          Qualitätsjournalismus · 2013-2024 · Made in Germany          
Die Nachrichtenmanufaktur

Informierte Anleger treffen bessere Entscheidungen

Auf dem 2013 von Gereon Kruse gegründeten Finanzportal boersengefluester.de dreht sich alles um deutsche Aktien – mit klarem Schwerpunkt auf Nebenwerte. Neben klassischen redaktionellen Beiträgen sticht die Seite insbesondere durch eine Vielzahl an selbst entwickelten Analysetools hervor. Basis sämtlicher Tools ist eine komplett selbst gepflegte Datenbank für mehr als 650 Aktien. Damit erstellt boersengefluester.de Deutschlands größte Gewinn- und Dividendenprognose.

Kontakt

Idee & Konzept: 3R Technologies   
boersengefluester.de GmbH Copyright © 2024 von Gereon Kruse #BGFL