8/5/2020, 7:04 AM (Source: TeleTrader)
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Chart for: ALLIANZ SE NA O.N.

Allianz Q2 revenue down by 6.8% YoY to €30.9B

Allianz SE announced on Wednesday its revenue in the second quarter of 2020 landed at €30.9 billion, which marks a decrease of 6.8% compared to the same period last year. The company's net income attributable to shareholders declined by 28.6% to €1.5 billion year-on-year, whilst its diluted earnings per share went from €5.10 in the second trimester last year to €3.68, worsening by 27.8%.

Meanwhile, Allianz also reported stable total revenue of €73.5 billion in the first half of the year, just like in the same period of 2019. Its net income attributable to shareholders decreased by 28.8% to €2.9 billion, and diluted earnings per share worsened by 28.8%, going from €9.75 to €6.94 year-on-year.

"The pandemic continues to be a challenge for all industries. Nevertheless, Allianz has achieved robust results and shown a remarkable resilience in the first six months of 2020. It makes us confident that we will see a solid financial performance also in the second half of 2020," Allianz's Chief Executive Officer (CEO) Oliver Bate said.

Baha Breaking News (BBN) / JR