Cash flow Vienna Insurance Group AG

Equities

VIG

AT0000908504

Multiline Insurance & Brokers

Market Closed - Wiener Boerse Other stock markets 11:35:26 2025-02-14 am EST			5-day change	1st Jan Change
33.90 ^EUR	+0.74%		+3.99%	+11.70%

Nov. 29	Vienna Insurance Group AG: Significant discount to peers
Nov. 26	Vienna Insurance Group AG, Nine Months 2024 Earnings Call, Nov 26, 2024

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Published financial data: VIENNA INSURANCE GROUP AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	9.32B	9.34B	9.71B	10.91B	10.92B
Total Interest And Dividend Income	1.02B	739M	832M	936M	-729M
Gain (Loss) on Sale of Investments, Total (Rev)	86.09M	3.02M	-12.66M	-163M	80K
Other Revenues, Total	145M	48.56M	119M	204M	1.01B
Total Revenues	10.57B	10.13B	10.64B	11.89B	11.21B
Policy Benefits	7.26B	7.03B	7.14B	7.91B	9.71B
Policy Acquisition / Underwriting Costs, Total	2.02B	2.05B	2.21B	2.56B	-
Selling General & Admin Expenses, Total	467M	478M	540M	607M	-
Salaries And Other Employee Benefits	7.45M	4.3M	4.15M	5.19M	-
Other Operating Expenses	217M	144M	209M	316M	512M
Reinsurance Income Or Expense	162M	165M	185M	209M	-
Total Operating Expenses	9.81B	9.54B	9.92B	11.19B	10.23B
Operating Income	760M	589M	729M	697M	981M
Interest Expense, Total	-109M	-90.76M	-201M	-96.69M	-99.33M
Currency Exchange Gains (Loss)	-3.88M	6.13M	-7.06M	60.16M	-5.38M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	648M	504M	521M	660M	876M
Impairment of Goodwill	-109M	-120M	-	-26.36M	-75.64M
Asset Writedown	-17.53M	-38M	-9.36M	-71.43M	-27.66M
EBT, Incl. Unusual Items	522M	346M	511M	562M	773M
Income Tax Expense	108M	103M	123M	98.13M	196M
Earnings From Continuing Operations	413M	243M	388M	464M	576M
Net Income to Company	413M	243M	388M	464M	576M
Minority Interest	-81.81M	-11.16M	-12.26M	1.65M	-17.27M
Net Income - (IS)	331M	232M	376M	466M	559M
Preferred Dividend and Other Adjustments	-	-	-	7.47M	7.56M
Net Income to Common Incl Extra Items	331M	232M	376M	458M	551M
Net Income to Common Excl. Extra Items	331M	232M	376M	458M	551M
Per Share Items
Net EPS - Basic	2.59	1.81	2.94	3.58	4.31
Basic EPS - Continuing Operations	2.59	1.81	2.94	3.58	4.31
Basic Weighted Average Shares Outstanding	128M	128M	128M	128M	128M
Net EPS - Diluted	2.59	1.81	2.94	3.58	4.31
Diluted EPS - Continuing Operations	2.59	1.81	2.94	3.58	4.31
Diluted Weighted Average Shares Outstanding	128M	128M	128M	128M	128M
Normalized Basic EPS	2.52	2.37	2.45	3.24	4.14
Normalized Diluted EPS	2.52	2.37	2.45	3.24	4.14
Dividend Per Share	1.15	0.75	1.25	1.3	1.4
Payout Ratio	38.64	63.58	25.55	41.63	33.22
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	883M	657M	800M	775M	1.09B
EBITA	760M	589M	729M	697M	1B
EBIT	760M	589M	729M	697M	981M
EBITDAR	914M	688M	829M	803M	-
Effective Tax Rate - (Ratio)	20.8	29.84	24.12	17.45	25.42
Total Current Taxes	114M	201M	271M	88.54M	153M
Total Deferred Taxes	-5.92M	-97.82M	-147M	9.59M	43.56M
Normalized Net Income	323M	304M	313M	414M	530M
Interest on Long-Term Debt	70.49M	69.35M	68.69M	76.41M	76.91M
Non-Cash Pension Expense	35.25M	21.6M	27.59M	24.76M	18.07M
Supplemental Operating Expense Items
General and Administrative Expenses	436M	447M	511M	579M	-
Net Rental Expense, Total	30.47M	31.9M	28.58M	27.69M	-
Imputed Operating Lease Interest Expense	8.58M	11.47M	19.66M	7.85M	-
Imputed Operating Lease Depreciation	21.89M	20.43M	8.92M	19.84M	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Investment In Debt Securities	25.06B	25.35B	24.86B	22.85B	25B
Investment In Equity and Preferred Securities, Total	2.03B	2.02B	2.37B	1.66B	585M
Trading Asset Securities, Total	298M	212M	217M	179M	10.59B
Real Estate Owned	2.41B	2.51B	2.85B	3.13B	2.85B
Mortgage Loans	548M	519M	375M	346M	-
Policy Loans	20.28M	18.62M	17.03M	26.45M	-
Total Other Investments	2.12B	2.13B	2.23B	2.29B	1.24B
Total investments	32.49B	32.75B	32.93B	30.48B	40.27B
Cash And Equivalents	1.44B	1.75B	2.46B	2.06B	1.56B
Reinsurance Recoverable - (IS)	1.5B	1.6B	2.04B	2.44B	1.81B
Other Receivables - (Insurance Template)	3.73B	3.97B	3.43B	3.97B	1.7B
Separate Account Assets	8.62B	7.97B	8.53B	7.16B	-
Gross Property Plant And Equipment	-	-	-	-	1.11B
Accumulated Depreciation	-	-	-	-	-301M
Net Property Plant And Equipment	327M	303M	291M	318M	812M
Goodwill	1.38B	1.24B	1.26B	1.44B	1.37B
Other Intangibles, Total	519M	476M	469M	586M	590M
Other Current Assets, Total	98.63M	92.84M	343M	80.79M	19.04M
Deferred Tax Assets Long-Term (Collected)	68.72M	137M	311M	570M	483M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	172M	140M	129M	167M	142M
Total Assets	50.34B	50.43B	52.18B	49.27B	48.75B
Liabilities
Accrued Expenses, Total	500M	551M	591M	705M	-
Insurance And Annuity Liabilities	24.94B	24.82B	24.34B	22.54B	30.34B
Unpaid Claims	5.84B	6.35B	7.08B	7.98B	7.47B
Unearned Premiums	1.71B	1.71B	1.86B	2.23B	-
Reinsurance Payable - (BS)	272M	193M	157M	238M	24.18M
Current Portion of Long-Term Debt	-	-	-	-	120M
Current Portion of Leases	28.88M	-	-	-	29.03M
Long-Term Debt	1.76B	1.89B	2.41B	2.69B	2.08B
Long-Term Leases	170M	190M	181M	183M	169M
Separate Account Liability	8.12B	7.62B	8.19B	6.9B	-
Current Income Taxes Payable	251M	291M	243M	112M	157M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	110M	114M	127M	143M	799M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	576M	541M	493M	274M	308M
Deferred Tax Liability Non-Current	262M	268M	219M	77.42M	402M
Other Non Current Liabilities	622M	611M	684M	759M	835M
Total Liabilities	45.15B	45.14B	46.58B	44.84B	42.72B
Common Stock, Total	133M	133M	133M	133M	133M
Retained Earnings	2.43B	2.48B	2.76B	3.09B	3.49B
Comprehensive Income and Other	2.51B	2.54B	2.58B	997M	2.27B
Total Common Equity	5.07B	5.16B	5.48B	4.22B	5.89B
Minority Interest	117M	123M	120M	210M	137M
Total Equity	5.19B	5.29B	5.6B	4.43B	6.03B
Total Liabilities And Equity	50.34B	50.43B	52.18B	49.27B	48.75B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	128M	128M	128M	128M	128M
ECS Total Common Shares Outstanding	128M	128M	128M	128M	128M
Book Value / Share	39.64	40.33	40.45	30.65	43.69
Tangible Book Value	3.17B	3.45B	3.75B	2.2B	3.93B
Tangible Book Value Per Share	24.79	26.95	26.94	14.83	28.36
Total Debt	1.96B	2.08B	2.59B	2.87B	2.39B
Net Debt	512M	338M	134M	809M	836M
Debt Equivalent of Unfunded Proj. Benefit Obligation	506M	486M	436M	214M	-
Debt Equivalent Oper. Leases	244M	255M	229M	222M	-
Minority Interest, Total (Incl. Fin. Div)	117M	123M	120M	210M	137M
Equity Method Investments, Total	321M	292M	277M	288M	186M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	25K	25K	25K	29K	29K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	331M	232M	376M	466M	559M
Depreciation, Depletion & Amortization	153M	68.02M	71.72M	78.34M	87.35M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	20.25M
Total Depreciation, Depletion & Amortization	153M	68.02M	71.72M	78.34M	108M
Amortization of Deferred Charges, Total	55.97M	124M	137M	79.2M	80.5M
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-	38.69M
(Gain) Loss on Sale of Investments - (CF)	-86.09M	-3.02M	12.66M	163M	1.79M
Total Asset Writedown	-	-	-	-	131M
Amort. Of Deferred Policy Acq. Costs - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-16.47M
Change in Trading Asset Securities	-14.29M	-14.76M	-17.36M	-13.49M	-
Change in Accounts Receivable	50.37M	-38.15M	-290M	-47.34M	-5.67M
Reinsurance Recoverable - (CF)	-	-	-	-	618M
Change In Deferred Taxes	-4.08M	-95.26M	-142M	75.88M	-
Change in insurance Reserves / Liabilities	697M	-496M	409M	55.16M	-
Change in Other Net Operating Assets (Collected)	494M	305M	297M	-125M	-693M
Other Operating Activities	-379M	230M	-332M	-107M	-961M
Cash from Operations	1.3B	311M	522M	625M	-139M
Capital Expenditure	-388M	-153M	-	-251M	-265M
Sale of Property, Plant, and Equipment	70.83M	7.78M	-	8.95M	10.93M
Cash Acquisitions	-68.63M	-8.9M	-	-407M	-15.31M
Divestitures	-	-	-	91M	-
Purchase / Sale of Intangible Assets	-164M	-113M	-138M	-449M	-133M
Sale (Purchase) of Real Estate Properties (Collected)	-	-	-281M	-	-
Investment in Marketable and Equity Securities, Total	-437M	-227M	-687M	-721M	-6.9M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-19.25M	-103M	426M	43.2M	-
Other Investing Activities, Total	120M	695M	266M	684M	899M
Cash from Investing	-886M	98.65M	-416M	-1B	490M
Long-Term Debt Issued, Total	-	-	-	500M	532K
Total Debt Issued	-	-	-	500M	532K
Long-Term Debt Repaid, Total	-98.53M	-97.8M	-96.88M	-311M	-543M
Total Debt Repaid	-98.53M	-97.8M	-96.88M	-311M	-543M
Issuance of Common Stock	-	-	300M	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-128M	-147M	-96M	-194M	-186M
Common & Preferred Stock Dividends Paid	-128M	-147M	-96M	-194M	-186M
Other Financing Activities, Total	-13.77M	121M	491M	-19.51M	-373M
Cash from Financing	-240M	-124M	598M	-24.05M	-1.1B
Foreign Exchange Rate Adjustments	1.1M	-14.45M	-1.09M	-1.7M	-15.48M
Miscellaneous Cash Flow Adjustments	-77.48M	30.6M	7.96M	4.76M	8.64M
Net Change in Cash	96.08M	302M	711M	-397M	-757M
Supplemental Items
Cash Interest Paid	85.92M	70.42M	70.93M	78.06M	88.05M
Cash Income Tax Paid (Refund)	73.46M	211M	154M	228M	109M
Net Debt Issued / Repaid	-98.53M	-97.8M	-96.88M	189M	-542M
Levered Free Cash Flow	657M	128M	309M	-575M	861M
Unlevered Free Cash Flow	725M	184M	434M	-514M	923M
Change In Net Working Capital	-593M	109M	92.01M	407M	-520M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.94	0.73	0.89	0.86	1.28
Return on Total Capital	5.53	5.07	5.85	5.62	7.19
Return On Equity %	7.49	4.63	7.13	9.26	9.81
Return on Common Equity	6.89	4.52	7.06	9.45	9.7
Margin Analysis
Gross Profit Margin %	12.2	10.37	12.18	11.91	13.32
SG&A Margin	4.49	4.77	5.11	5.15	-
EBITDA Margin %	8.36	6.48	7.52	6.52	9.71
EBITA Margin %	7.19	5.81	6.85	5.86	8.93
EBIT Margin %	7.19	5.81	6.85	5.86	8.75
Income From Continuing Operations Margin %	3.91	2.4	3.65	3.91	5.14
Net Income Margin %	3.13	2.29	3.53	3.92	4.99
Net Avail. For Common Margin %	3.13	2.29	3.53	3.86	4.92
Normalized Net Income Margin	3.06	3	2.94	3.48	4.73
Levered Free Cash Flow Margin	6.22	1.26	2.9	-4.84	7.68
Unlevered Free Cash Flow Margin	6.86	1.82	4.08	-4.33	8.24
Asset Turnover
Asset Turnover	0.21	0.2	0.21	0.23	0.23
Fixed Assets Turnover	43.85	32.19	35.87	39.07	14.01
Receivables Turnover (Average Receivables)	13.75	12.59	12.27	11.75	55.06
Inventory Turnover (Average Inventory)	-	-	-	-	-
Short Term Liquidity
Current Ratio	0.64	0.69	0.79	0.82	1.74
Quick Ratio	0.39	0.43	0.47	0.48	1.52
Operating Cash Flow to Current Liabilities	0.16	0.04	0.06	0.07	-0.02
Days Sales Outstanding (Average Receivables)	26.55	29.07	29.74	31.07	6.63
Days Outstanding Inventory (Average Inventory)	-	-	-	-	-
Average Days Payable Outstanding	193.24	204.3	200.71	178.36	271.98
Cash Conversion Cycle (Average Days)	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	37.67	39.41	46.28	64.69	39.71
Total Debt / Total Capital	27.36	28.27	31.64	39.28	28.42
LT Debt/Equity	37.11	39.41	46.28	64.69	37.24
Long-Term Debt / Total Capital	26.96	28.27	31.64	39.28	26.66
Total Liabilities / Total Assets