Based on reports from Wiener Börse AG, Uniqa Insurance Group AG and Palfinger both reported financial results for 2023.
Uniqa Insurance Group AG
Uniqa increased its charged premiums in 2023 by 9.7 percent to 7,185.6 million Euro, a growth attributed to indexations and new business. Specifically, premiums for health insurance rose by 9 percent during the past year, according to the company’s board.
- Group Result: Increased by 18.3 percent to 302.7 million Euro, up from 256.0 million Euro in 2022.
- Investment Result: Rose to 588.8 million Euro in 2023, compared to 179.8 million Euro in 2022. Board member Kurt Svoboda attributed this to improved financial market stability and higher interest rates, describing Uniqa’s investments as "konservativ" (conservative).
- Capitalization: As of December 31, 2023, the Solvency II regulatory capital ratio was approximately 255 percent (2022: 246 percent). CEO Andreas Brandstetter stated this is 2.5 times higher than the regulator’s requirement.
- Dividends: A dividend of 0.57 Euro per share is proposed, compared to 0.55 Euro the previous year.
- Expenses and Damages: Technical expenses rose 11.5 percent to 5,291.0 million Euro (2022: 4,744.5 million Euro). Weather-related damages in CEE and Austria totaled 186 million Euro, occurring during one of the worst periods of the last 20 years.
Regarding weather risks, CEO Andreas Brandstetter noted that extreme weather events are expected to continue and stated, "Die Schäden können nicht mehr allein von der Privatwirtschaft gedeckt werden" (The damages can no longer be covered by the private sector alone), suggesting that political action is now required.
Uniqa is also expanding its health sector activities due to demographic change. Non-insurance health services, such as nursing and health prevention, are consolidated under the Mavie Holding. This ecosystem includes "Mavie me" (home blood and microbiome test kits) and "Mavie at Work" (corporate health promotion), while the company continues to expand nursing and telemedicine. The CEO indicated that further acquisitions in the health sector are possible.
Palfinger
Palfinger concluded 2023 with record values, meeting its own guidance of an EBIT over 200 million Euro and revenue of 2.4 billion Euro.
- Revenue: Reported at 2.45 million Euro (the previous year was 2.23 billion Euro).
- Operative Result: Increased by 39.8 percent to 210.2 million Euro.
- EBIT Margin: Recorded at 8.6 percent, the best since 2008.
- Group Result: Rose 50.8 percent to 107.7 million Euro, up from 71.4 million Euro in 2022.
The company attributed these results to a strong product mix, full effectiveness of implemented price increases, and good plant capacity.
