Vienna Insurance Group 4Q 19 - PBT ahead of RCBe, several one-off effects
Vienna Insurance Group 4Q 19 PBT amounted to EUR 145.4 mn (RCBe EUR 126.6), which primarily came on the back of a strong investment result due to realization gains on the sale of VIGs S IMMO stake (realization gains in 4Q ca. EUR 167 mn). Those effects overcompensated a goodwill impairment in Romania amounting to ca. EUR 109 mn. The combined ratio in 4Q was also strong at 92.3%, which was mainly driven by an improvement in the claims ratio. The company also announced a dividend of EUR 1.15 per share, above RCBe of EUR 1.1 per share. Vienna Insurance Group did not publish a guidance for the current fiscal year as a result of the current Covid-19 measures and which result in an uncertain business environment.Vienna Insurance is an insurance group based in Austria. Co. is engaged in the provision of insurance services in both life and non-life areas in 24 countries of Central and Eastern Europe. The business lines in which Co. operates are property/casualty, life and health insurance. Outside its Austrian core market, Co. is active in Albania, Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Germany, Hungary, Latvia, Liechtenstein, Lithuania, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Turkey and Ukraine. Co. also has branch offices in Italy and Slovenia.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.