POWSZECHNY ZAKLAD UBEZPIECZE? SPÓLKA AKCYJNA

(PZU)
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Delayed Warsaw Stock Exchange  -  12:05 2022-07-01 pm EDT
29.98 PLN    0.00%
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Powszechny Zaklad Ubezpiecze? Spólka Akcyjna : Presentation - PZU Group financial results

03/24/2022 | 03:36am EDT

PZU Group's

Financial Results

in 4Q21 and 2021

Warsaw, 24 March 2022

Table of contents

PZU Group's main accomplishments

Business development

Financial results

PZU Group Strategy in 2021-2024

Attachments

3

9

18

27

36

1. PZU Group's main accomplishments

1. Main accomplishments

2. Business development

3. Results

4. Strategy

5. Attachments

Record-breaking result since the IPO in challenging market conditions

PZU Group's ROE (%)1

+7.7 p.p.

18.6

10.9

2020

2021

PZU Group's net profit

+25.7%

897

906

721

774

759

4Q20

1Q21

2Q21

3Q21

4Q21

Diversified model

High profitability

Stability and security

Sustainable growth

Business model diversification as the recipe for recurring robust results: high profitability of non-lifeinsurance, rebuilding banking income

ROE of 21.0% in 4Q and 18.6% in the full year of 2021 - above the targets set in the strategy

A- rating, high solvency ratios, capacity to generate a high recurring capital, solvency ratio substantially better than posited in the strategy, safe and diversified investment portfolio

Reducing carbon footprint, strengthening initiatives advancing the green energy transition - observed by rating agencies - improved ESG ratings

  1. Net profit and equity attributable to equity holders of the parent company
  2. 3Q21 data
  3. Dividend yield: dividend per share of 3.5 PLN paid in reference to the closing share price on the day before the dividend cutoff date

4

1. Main accomplishments

2. Business development

3. Results

4. Strategy

5. Attachments

Highest sales in history on an annual and quarterly basis

Gross written premium and its growth in 4Q21 (bn PLN)

3.9%

6.8

6.6

+17% y/y

0.6

Foreign operations

0.5

Non-life

3.8

4.1

+6% y/y

Life

2.2

2.1

-3% y/y

4Q20

4Q21

  • Premium in 2021 up 5.1% achieved a record-breaking level of 25.1 bn PLN. Revenue in 4Q21 also record-breaking at 6.8 bn PLN
  • Strong demand for non-motorinsurance (+11.1% y/y), especially in mass insurance (+30.7% y/y). Growth in gross written premium in motor insurance by 2.5% y/y despite greater market competitiveness and price contraction
  • Intensive sales growth in the bancassurance channel: gross written premium attracted in collaboration with the PZU Group's banks +75.6% y/y
  • Ongoing dynamic growth in the demand for private medical services; health revenue up 24.7%1 y/y in 2021, high growth in revenue generated by medical centers (+29.2% y/y) in insurance and subscriptions
  • Intensive development of the investment pillar - assets under management grew by 6.6% to 35.1 bn PLN at the end of 2021, with assets held by TFI PZU seeing incremental growth of 9.1% y/y. TFI PZU among the top players in terms of sales in 2021
  • Net Asset Value in PPK at 1.4 bn PLN - assets up 3.5 times from a year ago. First place in terms of the number of acquired companies and second place measured by assets

1.

Data presented for the centers for the period from the beginning of the year regardless of the time of acquisition

5

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Disclaimer

PZU - Powszechny Zaklad Ubezpieczen SA published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 07:07:04 UTC.


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Financials
Sales 2022 25 271 M 5 590 M 5 590 M
Net income 2022 3 001 M 664 M 664 M
Net Debt 2022 - - -
P/E ratio 2022 8,35x
Yield 2022 8,53%
Capitalization 25 884 M 5 726 M 5 726 M
Capi. / Sales 2022 1,02x
Capi. / Sales 2023 0,99x
Nbr of Employees 39 043
Free-Float 65,8%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 29,98 PLN
Average target price 39,29 PLN
Spread / Average Target 31,1%
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Beata Kozlowska-Chyla Chief Executive Officer
Pawel Karol Mucha Chairman-Supervisory Board
Maciej Zaborowski Member-Supervisory Board
Robert Snitko Secretary & Member-Supervisory Board
Robert Jastrzebski Member-Supervisory Board
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