Wuestenrot & Wuerttembergische Ag · XETR:WUW
Wuestenrot & Wuerttembergische — Wüstenrot & Württembergische — Q3 2024 Earnings Presentation
25 slides from Wuestenrot & Wuerttembergische's earnings presentation, Nov 15, 2024
Slide 1: Quarterly Report 30 September 2024 W&W Group
Wüstenrot & Württembergische AG Quarterly Report 30 September 2024 W&W Group 15 November 2024
Slide 2: Agenda
Agenda W&W – Overview & Strategy Group and Segment Development Q3 2024 Outlook Appendix W&W AG | Quarterly Statement Q3 2024 | 15 November 2024 Seite 2
Slide 3: Our business areas are supported by strong partners across the group
W&W – Overview & Strategy Our business areas are supported by strong partners across the group Segment Housing Segment Insurance Service and Central Functions Everything around housing: home Service insurer in the life, health Group-wide services around IT, loan savings, financing, project and
Slide 4: Excellent client base with growth potential
W&W – Overview & Strategy Excellent client base with growth potential On average three contracts per customer ∼6.5 mn High client retention (low churn rate) Customers1 Solvent customer base Increasing digital affinity Note: 1) as of September 2023 W&W AG | Quarterly Statement Q3 2024 | 15 No
Slide 5: The W&W Group pursues a multi-channel sales approach
W&W – Overview & Strategy The W&W Group pursues a multi-channel sales approach Own sales channels Partnerships and cooperations Insurances 2,300 tied agents Banks and financial distributors 3,000 tied agents Sales networks& Brokers Over 20.000 brokers Direct channels Parternships Comprehensive multi
Slide 6: To the point: Sustainability goals of the W&W Group
W&W – Overview & Strategy To the point: Sustainability goals of the W&W Group E S G E S G Customers Capital Own investments Society Organisation Employees and operations products and refinancing "Green" product lines CO2 -neutral operation Promotion of cultural, Strengthen awareness Developing the f
Slide 7: W&W Group structure as of 30 September 2024
W&W – Overview & Strategy W&W Group structure as of 30 September 2024 Freefloat > 21,00% Wüstenrot 39,91% Holding AG FS BW Holding GmbH > ~10,00% 27,47% Wüstenrot Foundation indirectly holds 67,38%1 of W&W shares. WS Holding AG Anmerkung: 1) Own shares are not taken into account due to insignificanc
Slide 8: Agenda
Agenda W&W – Overview & Strategy Group and Segment Development Q3 2024 Outlook Appendix W&W AG | Quarterly Statement Q3 2024 | 15 November 2024 Seite 8
Slide 9: Overview Q3 2024
Group and Segment Development Q3 2024 Overview Q3 2024 In the second and third quarter of 2024, the W&W Group's regional core insurance area suffered massive losses due to storms in some cases. In particular, the so-called “Orinoco” natural hazard event and various regional storms had a negative imp
Slide 10: W&W new business heterogeneous in a generally volatile market environment
Group and Segment Development Q3 2024 W&W new business heterogeneous in a generally volatile market environment In the housing segment, the previous year's record result in home loan savings could not be matched. The volume of new -3,1% -1,4% lending business increased significantly despite the co
Slide 11: Group result burdened by significantly above-average natural hazard losses
Group and Segment Development Q3 2024 Group result burdened by significantly above-average natural hazard losses Weaker financial result (net/ gross) in the first nine months. Increase in valuation and interest result, but decline in disposal result. 79 -78 -95,0% -26,0% 14 The technical result
Slide 12: IFRS consolidated income statement
Group and Segment Development Q3 2024 IFRS consolidated income statement1 1 Higher current result (despite positive one-off effect in the previous Q3 Q3 year). More positive stock market performance in the financial year in EUR millions Delta 2024 2023 and falling interest rates led to higher valuat
Slide 13: Consolidated balance sheet
Group and Segment Development Q3 2024 Consolidated balance sheet1 Q3 Q3 in EUR million Delta 2024 2023 Financial assets at fair value through profit or loss 1 11,594 10,630 964 1 Increase in alternative investments and assets for Financial assets at fair value through other comprehensive income 23,9
Slide 14: Segment overview
Group and Segment Development Q3 2024 Segment overview 1 Reported segments (in EUR millions) Q3 2024 Q3 2023 Delta Housing segment 34 52 -18 Life and Health Insurance segment 32 22 10 Property/Casualty Insurance segment -115 10 -125 All other segments/consolidation 54 17 37 Consolidated net income 5
Slide 15: Segment Housing – segment result down versus previous year's level
Group and Segment Development Q3 2024 Segment Housing – segment result down versus previous year's level The new lending business was increased despite the continuing difficult economic conditions. +17,6% -42,1% -34,6% Gross new home loan savings business amount was below the record result of th
Slide 16: Segment Life and Health Insurance – segment result increased (1/2)
Group and Segment Development Q3 2024 Segment Life and Health Insurance – segment result increased (1/2) New business premiums in life insurance declining, in line with the industry as a whole. -3,1% +21,4% +45,5% In health insurance, annual new premiums increased. New business 2.443 2.368 grew
Slide 17: Segment Life and Health Insurance (2/2)
Group and Segment Development Q3 2024 Segment Life and Health Insurance (2/2) New Business: + EUR 35 mn newly concluded insurance contracts increase CSM -0,1% Unlocking: + EUR 41 mn at WL, 35 41 there was an overall increase in the risk adjustment (increase due to -77 termination of the WL subor
Slide 18: Segment Property/Casualty Insurance – segment result significantly below previous year
Group and Segment Development Q3 2024 Segment Property/Casualty Insurance – segment result significantly below previous year Slight increase in new and replacement business, measured in +3,1% terms of the annual portfolio +6,2% premium. The automotive sector grew significantly and the private 350
Slide 19: Agenda
Agenda W&W – Overview & Strategy Group and Segment Development Q3 2024 Outlook Appendix W&W AG | Quarterly Statement Q3 2024 | 15 November 2024 Seite 19
Slide 20: Forecast for the 2024 financial year
Outlook Forecast for the 2024 financial year Against the backdrop of extraordinary burdens from natural disasters, we have adjusted our expectations for the 2024 financial year and published an ad hoc announcement on July 25th, 2024. We continue to expect consolidated net income to be significantly
Slide 21: Agenda
Agenda W&W – Overview & Strategy Group and Segment Development Q3 2024 Outlook Appendix W&W AG | Quarterly Statement Q3 2024 | 15 November 2024 Seite 21
Slide 22: Investment of the W&W Group and the individual companies as of 30 Sep 2024
Appendix Investment of the W&W Group and the individual companies as of 30 Sep 2024 Investment by asset class Investment by geography 1% 1% 2% 1% 1% 2% 0% 0% 6% 3% 2% 7% 2% 1% 11% 15% 12% 1% 9% 18% 8% 3% 11% 11% 1% 3% 10% 11% 4% 3% 10% 4% 4% 0% 5% 4% 5% 5% 43% 5% 4% 2% 9% 9% 12% 22% 6% 9% 15% 9% 6%
Slide 23: Overview regulatory capital of group key entities
Appendix Overview regulatory capital of group key entities Regulatory capital of group key entities in % Capital ratios (Solvency II ratios for insurance entities) Bausparkasse in % W&W Group4 W&W AG Württembergische Württembergische Wüstenrot (solo) Vers. AG (P&C) LV AG (Life)4 Bausparkasse AG 20,0
Slide 24: Be sure to keep in touch with us
IR contact Be sure to keep in touch with us 25-27 Nov 2024 For further information, please contact 28 Mar 2025 Michael Ellwanger 15 May 2025 Head of Investor Relations +49 711 662 725252 22 May 2025 ir@ww-ag.com 14 Aug 2025 14 Nov 2025 Please visit our IR website: W&W AG | Quarterly Statement Q3 202
Slide 25: Disclaimer
This presentation and the information contained in it, as well as all other documents and explanatory notes (collectively, the “Material”), are issued by Wüstenrot & Württembergische AG ("W&W"). This presentation contains certain forward-looking statements and forecasts that reflect the current view
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