Wuestenrot & Wuerttembergische Ag · XETR:WUW
Wuestenrot & Wuerttembergische — Wüstenrot & Württembergische — Q1 2022 Earnings Presentation
26 slides from Wuestenrot & Wuerttembergische's earnings presentation, May 13, 2022
Slide 1: Quarterly Statement Q1 2022 W&W Group
Wüstenrot & Württembergische AG Quarterly Statement Q1 2022 W&W Group 13 May 2022
Slide 2: Agenda
Agenda W&W – Overview & Strategy Quarterly Results Q1 2022 Outlook Appendix W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 2
Slide 3: Where we come from – 200 years of experience in financial topics
W&W – Overview & Strategy Where we come from – 200 years of experience in financial topics 1828 Württembergische 1921 Wüstenrot 1999 Merger of 2005 2010 Acquisition 2017 Introducing 2018 online Privat-Feuer- (Gemeinschaft der Wüstenrot und Acquisition of of Allianz new digital brand platform Versich
Slide 4: W&W Group structure
W&W – Overview & Strategy W&W Group structure Shareholder Structure W&W AG in % Service and Central Functions Freefloat ~23,55 Wüstenrot W&W Asset Management GmbH Holding AG Asset Management Others 39,91 Wüstenrot & Württembergische AG > 10,00 W&W Informatik GmbH IT WS Holding AG 26,40 Wüstenrot Fou
Slide 5: Leading banking and insurance group in Germany
W&W – Overview & Strategy Leading banking and insurance group in Germany #2 # 12 #9 “Bausparen” Life Insurance Property and Casualty Insurance 6.5 mn >6,000 6,300 Customers Sales agents Employees W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 5
Slide 6: Excellent client base with growth potential
W&W – Overview & Strategy Excellent client base with growth potential Multiple contracts per customer 6.5 mn High client retention (low churn rate) Customers1 Solvent customer base Increasing digital affinity Note: 1) as of Feb. 2022 W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page
Slide 7: Our strong sales force is broadly positioned to capture further growth
W&W – Overview & Strategy Our strong sales force is broadly positioned to capture further growth Own sales channels Partnerships and cooperations Banks Insurance Financial sales Brokers Others companies networks 10,000 brokers W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 7
Slide 8: Diversified banking & insurance business with strong earnings and solid balance sheet
W&W – Overview & Strategy Diversified banking & insurance business with strong earnings and solid balance sheet Consolidated balance sheet 31 Dec 2020 31 Dec 2021 Other/Consolidation: 15% (IFRS) in €bn in €bn Total assets 76.5 75.2 Property Housing: 15% Capital investments 51.3 48.8 & Casualty: 59%
Slide 9: W&W Group's sustainability goals in a nutshell
W&W – Overview & Strategy W&W Group’s sustainability goals in a nutshell Implementation of "green" product features and components in all business areas Increased consideration of social and environmental considerations into the investment strategy, ongoing reduction of the capital investments’ carb
Slide 10: Agenda
Agenda W&W – Overview & Strategy Quarterly Results Q1 2022 Outlook Appendix W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 10
Slide 11: Overview Q1 2022
Group and Segment Development Q1 2022 Overview Q1 2022 The economic outlook for 2022 impacted the first quarter, particularly due to the war in Ukraine. Rising inflation rates, higher interest rates and increasing volatility of the financial markets influenced the business development of the W&W Gro
Slide 12: Further growth in W&W's core business despite the difficult market environment
Group and Segment Development Q1 2022 Further growth in W&W's core business despite the difficult market environment +15.7% +2.0% -2.1% Growth significantly above market 5,374 1,694 1,728 142 139 level in new business by gross home loan savings sum from 4,647 610 €2.97 billion to €3.48 billion 653
Slide 13: Declining development as a result of the dynamic rise in interest rates
Group and Segment Development Q1 2022 Declining development as a result of the dynamic rise in interest rates -101.6% The decline in consolidated net -45.7% income was mainly due to the 710 development of the financial result. 104 +4.8% Lower financial result due to valuation effects. Higher int
Slide 14: IFRS consolidated income statement
Group and Segment Development Q1 2022 IFRS consolidated income statement Consolidated income statement Q1 2021 Q1 2022 Change (in EUR millions) Net measurement loss: soaring Net financial income 709 -11 -720 interest rates and declining stock Current net income 270 275 5 markets as a result of the
Slide 15: IFRS consolidated balance sheet
Group and Segment Development Q1 2022 IFRS consolidated balance sheet Total assets and equity Consolidated balance sheet (in EUR millions) Q1 2021 Q1 2022 Change decreased due to interest rate Financial assets at fair value through profit or loss 10,722 10,566 -156 development. Financial assets at
Slide 16: Segment overview
Group and Segment Development Q1 2022 Segment overview Reportable segments Q1 2021 Q1 2022 Change (in EUR millions) Residential business segment Housing segment 13.9 35.8 21.9 well above plan due to special Life and Health Insurance segment 16.5 -4.5 -21.0 income from unused credit balances from t
Slide 17: Housing segment
Group and Segment Development Q1 2022 Housing segment 17.0% 3,479 157.6% 13.3% 36 1,895 2,974 Continuation of the sustainable 1,673 growth path leads to above- average development compared to the market. Significant increase in the segment result compared to the previous 14 year. New home loan
Slide 18: Life and health insurance segment
Group and Segment Development Q1 2022 Life and health insurance segment -6,6% -127,3% 653 -15,0% 610 17 72 229 76 26 194 Depressed segment result due to 27 negative revaluation effects from investments. 581 Increase in premiums in life 534 insurance due to higher regular 203 168 premiums. The
Slide 19: Property/ casualty insurance segment
Group and Segment Development Q1 2022 Property/ casualty insurance segment +7.4% -10.4% -78.4% 1,119 142 1,041 87 Segment result below previous year's 128 level due to negative valuation result 32 342 287 due to rise in interest rates and price 37 declines on the stock market. 35 231 New busines
Slide 20: Agenda
Agenda W&W – Overview & Strategy Quarterly Results Q1 2022 Outlook Appendix W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 20
Slide 21: Outlook Fiscal Year 2022
Outlook Outlook Fiscal Year 2022 The first quarter of 2022 was characterized by high levels of uncertainty in connection with the Ukraine war, significantly rising inflation rates and interest rates, and increased fluctuations on the financial markets. We continue to expect to achieve our net income
Slide 22: Agenda
Agenda W&W – Overview & Strategy Quarterly Results Q1 2022 Outlook Appendix W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 22
Slide 23: Key figures show stability and resilience of W&W Group's business
Appendix Key figures show stability and resilience of W&W Group’s business Key figures last 5 years 2016 2017 2018 2019 2020 2021 In EUR mn Gross written premiums 3,988.8 3,873.4 4,065.4 4,319.7 4,491.0 4,718.5 Construction financing 5,388.5 5,517.5 6,280.2 6,347.7 6,748.8 7,459.7 P&C combined ratio
Slide 24: Selected figures for financial years 2020 / 2021
Appendix Selected figures for financial years 2020 / 2021 Key P&L and Balance Sheet figures 2020 2021 change In EUR mn Gross written premiums1 in EUR mn 4,491.0 4,718.5 5.1% o/w L&H insurance in EUR mn 2,445.7 2,543.0 4.0% o/w P&C insurance in EUR mn 2,054.7 2,192.0 6.7% Construction financing in EU
Slide 25: Be sure to keep in touch with us
IR contact Be sure to keep in touch with us For further information, please 25 May 2022 contact Michael Ellwanger 12 Aug 2022 Head of Investor Relations +49 711 662 725252 ir@ww-ag.com 11 Nov 2022 Please visit our IR website: W&W AG | Quarterly Statement Q1 2022 | 13 May 2022 . Page 25
Slide 26: 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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