Bawag Group AG (XTER:0B2)

€ 69.6 0.05 (0.07%) Market Cap: 5.46 Bil Enterprise Value: 18.77 Bil PE Ratio: 8.22 PB Ratio: 1.33 GF Score: 58/100

Preliminary Q4 2023 BAWAG Group AG Earnings Call Transcript

Feb 01, 2024 / 09:00AM GMT

Release Date Price: €50.1 (+3.68%)

Transcript

Anas Abuzaakouk

BAWAG Group AG - Chairman of the Managing Board, Chief Executive Officer

Good morning, everyone. I hope everyone is keeping well. I'm joined this morning by Enver, our CFO; as well as joined by David O'Leary, our Chief Risk Officer. We have a lot to cover today, so let's jump right into it with a summary of full-year 2023 results on slide 3.

So for the full year 2023, we delivered a record net profit of EUR683 million, earnings per share of EUR8.31, and a return on tangible common equity of 25%. The underlying operating performance of our business was very strong, with pre-provision profits of EUR1.040 billion, up 22% versus prior year, and a cost income ratio of 31.8%. Total risk costs were EUR93 million with a low NPL ratio of 1%.

The fourth quarter was strong, with a net profit of EUR177 million, earnings per share of EUR2.15, and a return on tangible common equity of 25.7%. We delivered on all of our 2023 targets. We also distributed EUR480 million of capital in the form of EUR305 million in dividends and completed EUR175 million share buyback during the course of

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