Vienna Insurance Group AG · VIE:VIG
Vienna Insurance — FY2013 Earnings Presentation
15 slides from Vienna Insurance's earnings presentation, Jan 29, 2014
Slide 1: Preliminary Unconsolidated Premiums 2013
Preliminary Unconsolidated Premiums 2013 Conference call presentation for the preliminary, unconsolidated premiums 2013 Vienna, 29 January 2014
Slide 2: Presenting team and topics
Presenting team and topics Presenting team Topics Martin Simhandl, CFO Highlights p. 3 Peter Höfinger, Member of the Managing Premium development p. 4 Board Estimated profit p. 10 Roland Gröll, Head of Group Finance and Dividend proposal p. 11 Accounting Appendix p. 12 Nina Higatzberger, Head of Inv
Slide 3: Preliminary YE 2013 (unconsolidated, unaudited) Highlights
Preliminary YE 2013 (unconsolidated, unaudited) Premium growth of 2.2% excl. extraordinary effects HIGHLIGHTS Premiums of EUR 9.4bn down by 4.9% y-o-y Estimated profit before taxes of about EUR 350mn Estimated operating performance of about EUR 580mn Continuation of dividend policy: Proposed dividen
Slide 4: Preliminary YE 2013 premium developments
Preliminary YE 2013 premium developments PREMIUM Direct premiums (unconsolidated, unaudited) of EUR 9.4bn DEVELOPMENT Premium split Life/Non-life (€mn; y-o-y change) Premium split regional (€mn) -4.9% y-o-y chg. 9,870 Austria 4,068 -1.2% -431 9,387 -52 Czech Republic 1,919 0.0% Non-life 5,232 Slovak
Slide 5: Preliminary YE 2013 premium split
Preliminary YE 2013 premium split PREMIUM Direct premiums (unconsolidated, unaudited) in CEE of EUR 5.0bn DEVELOPMENT Premium split CEE/Non-CEE (€mn; y-o-y change) Total premiums split by regions -4.9% Sundry 9,870 -485 9,387 2 RO 12.0% Non-CEE 4,377 4.0% 4,379 PL 12.3% AT 43.3% CEE 5,493 5,009 8.0%
Slide 6: Remaining markets segment
Remaining markets segment PREMIUM Preliminary premiums exceeding one-billion-euro threshold DEVELOPMENT Premium development of Remaining markets (€mn) Growth drivers in Remaining markets (y-o-y chg; %) CAGR The Baltics 35.8 +10% 1,079 985 887 Serbia 18.3 Hungary 14.8 Turkey 6.4 2011 2012 2013 Ukrain
Slide 7: Positive developments in non-life lines of business
Positive developments in non-life lines of business PREMIUM Increasing non-motor premiums DEVELOPMENT Direct non-motor non-life premiums (unconsolidated, unaudited) (y-o-y chg; %) Poland: +14% Belarus: +32% Ukraine: +19% Austria: +3% Romania: +6% Hungary: +59% Serbia: +15% Turkey: +9% Bulgaria: +8%
Slide 8: Preliminary YE 2013 premiums per country
Preliminary YE 2013 premiums per country PREMIUM Direct premiums (unconsolidated, unaudited) in EURmn DEVELOPMENT €mn GWP Non-Life GWP Life GWP Total YE 2013 YE 2012 +/- % YE 2013 YE 2012 +/- % YE 2013 YE 2012 +/- % Austria 2,224.1 2,238.7 -0.7 1,844.3 1,877.7 -1.8 4,068.4 4,116.4 -1.2 Czech Rep. 1,
Slide 9: M&A activities of Vienna Insurance Group in 2013
M&A activities of Vienna Insurance Group in 2013 VIG with acquisitions1 in its core markets Poland and Hungary M&A VIG in Poland and acquisition of life insurer Skandia VIG Poland: Skandia PL: 6 companies with premiums2 of € 1,150mn Premiums: € 95mn (12M13) Market rank: #3 Portfolio: primarily unit-
Slide 10: Estimated, unaudited YE 2013 profit before taxes
Estimated, unaudited YE 2013 profit before taxes Estimated operating performance of roughly EUR 580mn PROFIT Estimated PBT and operating performance (€mn) Remarks 580 350 Estimated, unaudited profit before taxes of EUR 350 heavily impacted by Romania and Italy Estimated operating performance of abou
Slide 11: Dividend proposal of EUR 1.30 per share
Dividend proposal of EUR 1.30 per share1 Increase of 8.3% compared to last year DIVIDEND Dividend per share (EUR) +8.3% 1.30 1.20 1.10 1.00 2010 2011 2012 2013p Dividend policy Dividend policy with a pay-out ratio of minimum 30% of Group net profit remains unchanged Based on solid operating performa
Slide 12: VIG Share (I)
VIG Share (I) APPENDIX Current analyst recommendation split Share price development 2013 Sell Buy High EUR 42.81 Low EUR 34.26 Price as of 30 Dec EUR 36.225 Average daily volume EUR 3.0 mn Market cap. EUR 4.6 bn Development % -10.3 Hold VIG compared to ATX and MSCI Europe Insurance 130 125 120 115 1
Slide 13: VIG Share (II)
VIG Share (II) APPENDIX General information Shareholder structure Number of common shares: 128mn Wiener Städtische Wechselseitiger ISIN: AT0000908504 Versicherungsverein - Listings: Vermögensverwaltung – Vienna Insurance Group Free Float Vienna – since 17 Oct. 1994 ~70 % ~30 % Prague – since 5 Feb.
Slide 14: Contact details
Contact details Investor Relations APPENDIX Financial calendar 2014 Investor Relations Team Date Event Vienna Insurance Group Schottenring 30, 1010 Vienna Preliminary unconsolidated E-Mail: [email protected] 29 Jan. 2014 premiums 2013 www.vig.com/ir 10 April 2014 Results and EV for the year
Slide 15: Disclaimer
Disclaimer APPENDIX IMPORTANT NOTICE These materials do not constitute or form part, or all, of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in any jurisdiction in which such solicitation, offer or sale would be unlawful, nor
Vienna Insurance Group — FY2013 Earnings Presentation on 6ix