Eureko Announces 2006 Interim Results

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Algemeen advies 17/08/2006 08:40
Strong financial performance sustained

New organisation and management team in place
Net profit almost doubled to EUR 669 million, from EUR 338 million at June 2005 On a pro forma basis, net profit increased 45% from EUR 460 million

Profit before tax increased by 119% to EUR 849 million from EUR 387 million On a pro forma basis, profit before tax increased 52% from EUR 557 million

Gross written premiums up to EUR 7,910 million, from EUR 3,471 million (+128%) On a pro forma basis, gross written premiums increased 39% from EUR 5,699 million

Total equity remained stable at EUR 8.5 billion, compared to December 2005

Debt leverage slightly increased to 10.9% from 9.6% at December 2005

Return on adjusted equity remains strong at 17.7% from 19.2% at June 2005

Earnings per share on continuing operations increased by 36% to EUR 2.28 from EUR 1.68 at June 2005

Proposed interim dividend of EUR 0.31 per ordinary share
Note: all financials are statutory, except where indicated. In November 2005, Interpolis, the former Rabobank insurance subsidiary, merged with Achmea. This merger positively impacts the H1 2006 financials of Eureko and has no impact on the H1 2005 financials. The pro forma financials (see appendix 4) include the Interpolis financials in H1 2005.



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