Generali Holding Vienna AG
Generali Holding Vienna english
Generali Vienna – 2001
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Generali Vienna – 2001
Generali Holding Vienna AG – the holding company and reinsurer of the Generali
Vienna Group, listed in Vienna – will be distributing an unchanged dividend of
EUR 1.82 per non-par-value share for 2001.
Generali Holding Vienna AG’s net income on ordinary activities was 27.3 percent
down on the year at Sch 200.4 million/EUR 14.6 million. However, the group’s two
major insurance subsidiaries – Generali Versicherung AG and Interunfall
Versicherung AG – recorded a substantial year-on-year increase in net earnings,
although the transfer to a tax-privileged reserve of gains realized through
sales of real properties resulted in balance-sheet losses. Because of the
profit-transfer/loss-offsetting agreement that is currently in place, Generali
Holding Vienna AG had to offset the loss posted by Generali Versicherung AG.
Without the reserve allocation – which increased the group’s intrinsic value –
Generali Holding Vienna AG would have reported net income on ordinary activities
in the region of Sch 750 million/EUR 54.5 million.
Initial figures from the consolidated statement of account have also been
released:
The group’s consolidated net earnings for the year were one third down on 2000
at Sch 202.4 million/EUR 14.7 million. Consolidated net income on ordinary
activities was one quarter down on the year at Sch 339.1 million/EUR 24.6
million. Net income for the year was virtually static at Sch 191.6 million/EUR
13.9 million. The Generali Vienna Group achieved faster growth in business
volumes than originally predicted: Its consolidated premium income of Sch 34.5
billion/EUR 2.5 billion was 7.9 percent up on the year. At year-end, the group’s
consolidated investments totalled Sch 108.0 billion/EUR 7.8 billion, which was
slightly down on the end of the previous year. As in the past, all securities
holdings, inclusive of stakes in affiliated companies and other reportable
equity interests, have been valued applying the strict lower-of-cost-or-market
standard. Write-downs totalled Sch 2.4 billion/EUR 176.1 million, as against Sch
754.6 million/EUR 54.8 million in 2000.
Yesterday, the Supervisory Board of Generali Holding Vienna AG appointed Jörg
Schulz-Oliveri del Castillo, aged 34, as a deputy member of the Managing Board
with effect from 1 April 2002.
end of ad-hoc-announcement (c)DGAP 22.02.2002
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WKN: 066135; ISIN: AT0000661350; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg,
München und Stuttgart
220800 Feb 02
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