2/19/2021, 7:09 AM (Source: TeleTrader)
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Chart for: ALLIANZ SE NA O.N.

Allianz Q4 revenue slips 1.3% to €140B in 2020

Allianz SE said on Friday in its fourth-quarter earnings report that its full-year revenue annually declined by 1.3% to land at €140.5 billion in 2020. The company's operating profit stood at €10.75 billion in the same period, while its net income plunged 14.1% to €7.13 billion. Diluted earnings per share decreased 13.4% to €16.32.

In the last quarter of fiscal 2020, Allianz posted revenue of €35.6 billion and a yearly operating profit increase of 8.2% to €2.98 billion. At the same time, the company's net income arrived at €1.90 billion and diluted earnings per share at €4.39.

"Adjusted for adverse COVID19 impacts, our operating profit stood above prior year’s record level and shows how well-diversified and healthy our underlying business performance is. Our capital position has remained strong throughout the pandemic. This is why we look towards 2021 with confidence," Chief Financial Officer Giulio Terzariol commented in the report.

Baha Breaking News (BBN) / ND