2006 Full Year Earnings
Analysts meeting - February 22, 2007
Analysts meeting
Summary of the presentation
- 1) Full Year 2006 Earnings - February 22, 2007
- 2) Cautionary statements concerning forward-looking statements
- 3) Definitions
- 4) Important notes
- 5) Table of contents
- 6) 2006 top line performance was ahead of our Ambition 2012 targets.
- 7) .with a strong increase in profitability in all segments
- 8) 2006 was another year of very strong earnings growth
- 9) Growth on a per share basis remained very solid, despite 2006 dilutive impact of Winterthur's financing
- 10) Proposed dividend up 20% to Euro 1.06 per share, reflecting sustained earnings growth
- 11) In 2006, we continued to build the foundation of our long term performance by:
- 12) In 2006, we continued to build the foundation of our long term performance by:
- 13) In 2006, we continued to build the foundation of our long term performance by:
- 14) Table of contents
- 15) All business units contributed once again positively to 2006 underlying earnings performance
- 16) Life & savings new business volumes benefited from the 30% growth in unit-linked products, .
- 17) .while cash flows continued to grow, together with a sharp increase in mutual funds net sales
- 18) In addition to strong top-line momentum, 2006 was another year of margin improvement.
- 19) . with strong NBV growth in most major markets.
- 20) .fuelled by volume, mix and expenses improvements
- 21) Life & Savings recorded double-digit underlying earnings growth in most countries
- 22) Fees and revenues combined with contained non-commission expenses drove underlying earnings growth
- 23) Good performance of Property & Casualty in a competitive pricing environment.
- 24) .allowed for further combined ratio improvement.
- 25) .across the board, leading to an increase in underlying earnings
- 26) P&C Renewals show contrasting trends across segments and markets
- 27) Asset Management: solid AUM increase, mainly through third party customers,.
- 28) . driven by strong net inflows and favorable market performance in 2006
- 29) Strong revenues and improvement in cost income ratio resulted into 29% Asset Management underlying earnings growth
- 30) Analysis of Other Financial Services & Holdings 2006 underlying earnings
- 31) From underlying earnings to net income
- 32) Dilutive impact of 2006 Winterthur-related capital increase on our fully diluted EPS will be mitigated by active capital management
- 33) Table of contents
- 34) Winterthur FY2006: revenue increase driven by strong life & pensions momentum
- 35) Winterthur FY2006: earnings increase fuelled by technical results, despite lower financial income
- 36) AXA + Winterthur: larger, locally stronger and more diversified
- 37) Winterthur integration is well on track (1)
- 38) Winterthur integration is well on track (2)
- 39) Winterthur cost synergies target increased by 25%
- 40) Table of contents
- 41) 2006 was another very strong year in terms of top line performance and earnings growth
- 42) 2007 key operational challenge
- 43) The outlook for 2007 remains favorable
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