Ageas N.V.
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Publicatie datum
10 aug 2006 - 07:18
Statutaire naam
Ageas N.V.
Titel
Fortis first-half net profit before results on divestments up 29%, strongly driven by very solid Banking performance
Bericht
Update of business plans and financial targets in March 2007
• Net profit before results on divestments in the first half of 2006
• Fortis: +29% to EUR 2,718 million compared with EUR 2,105 million for the very strong first half of 2005, driven by excellent client business in a favourable operating environment
• Banking: +36% to EUR 2,051 million from EUR 1,503 million in the first half of last year
- Total income up 22% thanks to good commercial momentum across all businesses and at all revenue lines: net interest income +20%, net commission income +34%, treasury and financial markets revenues +50% (whereas capital gains decreased)
- Cost/income ratio improved from 55.6% to 53.4%, operating leverage at 480 basis points
- EUR 8.7 billion net new inflow in funds under management
- Continued low impairments on loans; credit loss ratio at five basis points
• Insurance: +5% to EUR 720 million from EUR 684 million in the first half of last year
- Life focuses on profitable new business: Gross inflow and new business stable at respectively EUR 5.3 billion and EUR 600 million (APE)
- Funds under management at Life up 8% year-on-year to EUR 77.7 billion
- Gross written premiums at Non-life increased by 4% to EUR 2.8 billion
- Strong technical results at Non-life; combined ratio remains low at 94.5%
• In the first half of last year, net profit benefited from a EUR 443 million one-off contribution from the transactions relating to the sale of Assurant. This year, in which no divestments have been made, Fortis has posted net profit of EUR 2,718 million, up 7%. Earnings per share came to EUR 2.11.
• A record second quarter of 2006 with net profit before results on divestments at EUR 1,390 million, +5% compared to the EUR 1,328 million for the already exceptional first quarter of this year and
+ 33% compared to the EUR 1,043 million net profit for the second quarter of 2005.
• Return on equity was 22.3%.
• Interim dividend per share up 12% to EUR 0.58 in cash, whi
Datum laatste update: 16 december 2025