EANS-Adhoc: Vienna Insurance Group provides outlook for the full year 2020 EAE

11/16/2020, 1:48 PM (Source: euro adhoc)
  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is responsible for the content of this announcement.

Earnings Forecast

Vienna -

* Profit before taxes for the 1st to 3rd quarter of 2020 of about EUR 266
* Profit before taxes in the range of EUR 300 - 350 million expected for 2020

In the course of the results preparation for the 1st to 3rd quarter of 2020, the
impacts of the expected dampening effects due to the Covid-19 pandemic are
becoming more concrete. While the operating insurance business is performing
solidly and the premium development is slightly positive compared to the
previous year, the financial result was around EUR 114 million lower than in the
1st to 3rd quarter of 2019. This was driven by the negative performance of the
capital markets in the reporting period. The decline has a direct impact on the
result before taxes, which amounted to EUR 266 million in the 1st to 3rd quarter
of 2020 (minus 29% compared to the same period last year).

Based on these results for the 1st to 3rd quarter of 2020, which will be
published in detail as planned on November 26, 2020, and taking into account
current developments, the Managing Board of Vienna Insurance Group expects
profit before taxes for the full year 2020 to be in a range of EUR 300 - 350
million, subject to unpredictable volatilities on capital markets.

The following securities of VIG are admitted for trading on a regulated market:

Share                      AT0000908504 Vienna and Prague Stock Exchange,
                                        Official Market
VIG subordinated bond 2015 AT0000A1D5E1 Luxembourg Stock Exchange, Second
                                        Regulated Market
VIG subordinated bond 2013 AT0000A12GN0 Vienna Stock Exchange, Second Regulated

Further inquiry note:
Wiener Versicherung Gruppe
1010 Vienna, Schottenring 30

Wolfgang Haas 
Head of Group Communications & Marketing, Spokesperson of the Group
Phone: +43(0)50 390-21029
Fax: +43 (0)50 390 99-21029
E-Mail: wolfgang.haas@vig.com

Nina Higatzberger-Schwarz
Head of Investor Relations
Phone: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920
E-Mail: nina.higatzberger@vig.com

end of announcement                         euro adhoc

issuer:       Vienna Insurance Group AG Wiener Versicherung Gruppe
              Schottenring 30
              A-1010 Wien
phone:        +43(0)50 390-22000
FAX:          +43(0)50 390 99-22000
mail:         investor.relations@vig.com 
WWW:          www.vig.com
ISIN:         AT0000908504
indexes:      ATX, VÖNIX, WBI
stockmarkets: Prague Stock Exchange, Wien
language:     English

EAX0007    2020-11-16/13:48

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