Wuestenrot & Wuerttembergische (WUW) Q4 2025 earnings summary

Executive summary

• Achieved significant improvement in earnings in 2025, with consolidated net income after tax rising to €121 million (IFRS) from €35 million in 2024, and W&W AG net income (HGB) up to €146 million from €135 million.

• Growth in new business across all segments, despite a challenging economic environment in Germany.

• Dividend of €0.65 per share proposed, unchanged from previous year, with a dividend yield of 4.47%.

• Supervisory Board and auditor issued unqualified opinions on both consolidated and annual financial statements.

Financial highlights

• Total assets increased to €72.5 billion (2024: €72.3 billion).

• Consolidated net income (IFRS) rose to €121 million (2024: €35 million); earnings per share €1.29 (2024: €0.35).

• W&W AG net income (HGB) was €146 million (2024: €135 million).

• Total revenue reached €6,522 million (2024: €6,308 million).

• Equity increased to €4,961 million (2024: €4,922 million).

• Market capitalisation at year-end: €1,363 million (2024: €1,090 million).

• Dividend per share: €0.65; dividend yield: 4.47%.

Outlook and guidance

• 2026 consolidated net income (IFRS) expected between €120–150 million, with improved results in Housing and Life/Health segments, but lower Property/Casualty profit due to normalised claims.

• New customer acquisition target: at least 400,000.

• Continued focus on cost efficiency, digitalisation, and sustainable growth.