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21st Austria weekly - Rosenbauer, Vienna Insurance Group (15/11/2022)

20.11.2022

Rosenbauer: The Rosenbauer Group, Leading manufacturer of systems for firefighting and disaster protection, generated revenues of Euro 651.2 mn in the first three quarters of 2022, compared to 649.5 mn in the same periode last year. Lower gross profit and increased structural costs (specifically sales and administrative expenses) resulted in a negative EBIT of -30.5 mn Euro after the first nine months (1-9/2021: 14.0 mn Euro). At 825.4 mn Euro, incoming orders were 6% higher than in the previous year. The order backlog increased again and, it amounted to Euro 1,360.5 mn at the end of the third quarter of 2022 (September 30, 2021: Euro 1,164.8 mn)."Varying bottlenecks in material supply and massive cost increases for intermediary products and materials in some cases continued to characterize production conditions in Europe and North America in the third quarter. The component shortage situation has recently improved slightly and we are receiving more chassis again, for example. However, we are not expecting a real improvement until mid-2023. Since the beginning of the month, we have been partially passing on the higher cost of materials in the form of further price adjustments for new offers to our customers," says Sebastian Wolf, CEO of Rosenbauer International AG. Based on a high order backlog and taking into account the continuing tight situation in the procurement of chassis and other components, the Executive Board expects sales of around 1 bn Euro and positive EBIT this year.
Rosenbauer: weekly performance: 1.24%

VIG: Vienna Insurance Group (VIG) has reported a very positive development for the first three quarters of 2022. A clear upward trend can be seen in the premium volume. The total premium volume increased markedly by 13.6% over the first nine months of 2022, to Euro 9,530 mn. This includes the first-time consolidation of the most recently acquired insurance companies in Hungary and Türkiye with premiums of around Euro 291 mn, which account for 3.0% of the total premium volume. At 413.4 mn Euro, profit before taxes was around 10% above the value in the previous year. At 302.4 mn, net income was 10.1% higher than in the previous year. At 95.1%, the combined ratio is slightly below the previous year’s value (95.2%). However, the pressure of increased average losses, partially due to inflation, is evident in comparison with the first half of the year, when the combined ratio was 94.3%. "In view of the current situation and provided that there are no unexpected external factors and volatilities by the end of the year, we expect a premium volume of at least Euro 12 bn for the full year 2022 and profit before taxes that surpasses the previous year's figure of Euro 511 mn. In terms of the combined ratio, we are aiming for a value of around 95% despite the challenging environment”, explains Elisabeth Stadler, CEO of Vienna Insurance Group.
VIG: weekly performance: -2.79%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (15/11/2022)


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21st Austria weekly - Rosenbauer, Vienna Insurance Group (15/11/2022)


20.11.2022, 3010 Zeichen



Rosenbauer: The Rosenbauer Group, Leading manufacturer of systems for firefighting and disaster protection, generated revenues of Euro 651.2 mn in the first three quarters of 2022, compared to 649.5 mn in the same periode last year. Lower gross profit and increased structural costs (specifically sales and administrative expenses) resulted in a negative EBIT of -30.5 mn Euro after the first nine months (1-9/2021: 14.0 mn Euro). At 825.4 mn Euro, incoming orders were 6% higher than in the previous year. The order backlog increased again and, it amounted to Euro 1,360.5 mn at the end of the third quarter of 2022 (September 30, 2021: Euro 1,164.8 mn)."Varying bottlenecks in material supply and massive cost increases for intermediary products and materials in some cases continued to characterize production conditions in Europe and North America in the third quarter. The component shortage situation has recently improved slightly and we are receiving more chassis again, for example. However, we are not expecting a real improvement until mid-2023. Since the beginning of the month, we have been partially passing on the higher cost of materials in the form of further price adjustments for new offers to our customers," says Sebastian Wolf, CEO of Rosenbauer International AG. Based on a high order backlog and taking into account the continuing tight situation in the procurement of chassis and other components, the Executive Board expects sales of around 1 bn Euro and positive EBIT this year.
Rosenbauer: weekly performance: 1.24%

VIG: Vienna Insurance Group (VIG) has reported a very positive development for the first three quarters of 2022. A clear upward trend can be seen in the premium volume. The total premium volume increased markedly by 13.6% over the first nine months of 2022, to Euro 9,530 mn. This includes the first-time consolidation of the most recently acquired insurance companies in Hungary and Türkiye with premiums of around Euro 291 mn, which account for 3.0% of the total premium volume. At 413.4 mn Euro, profit before taxes was around 10% above the value in the previous year. At 302.4 mn, net income was 10.1% higher than in the previous year. At 95.1%, the combined ratio is slightly below the previous year’s value (95.2%). However, the pressure of increased average losses, partially due to inflation, is evident in comparison with the first half of the year, when the combined ratio was 94.3%. "In view of the current situation and provided that there are no unexpected external factors and volatilities by the end of the year, we expect a premium volume of at least Euro 12 bn for the full year 2022 and profit before taxes that surpasses the previous year's figure of Euro 511 mn. In terms of the combined ratio, we are aiming for a value of around 95% despite the challenging environment”, explains Elisabeth Stadler, CEO of Vienna Insurance Group.
VIG: weekly performance: -2.79%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (15/11/2022)



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