Switzerland · Delayed Price · Currency is CHF Swiss Life Holding AG Earnings Call Transcripts
Fiscal Year 2025
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Profit from operations rose 3% to CHF 1.83bn, with stable net profit and a 17.2% ROE. Strong growth in premiums, fee income, and net new assets supported a higher dividend and robust solvency, while digitalization and efficiency initiatives continue to drive progress.
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Fee and commission income and premiums grew 3% in local currency, with strong net new asset inflows in TPAM and a robust SST ratio of 205%. The group remains on track for its 2027 targets, with positive real estate trends and ongoing share buybacks.
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Profit from operations grew 3% in local currency to CHF 903 million, while net profit declined 5% due to higher tax expenses. The SST solvency ratio rose to 205%, and strong net new assets were reported in third-party asset management. Cash remittance, adjusted for one-offs, increased 4%.
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Strong Q1 2025 results with 6% growth in premiums, fees, and deposits, robust net new asset inflows of CHF 9.3 billion, and a solid SST ratio of 200%. Guidance for 2025 remains positive, with continued focus on growth and capital discipline.
Fiscal Year 2024
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Strong 2024 results with profit from operations up 20% and net profit up 13%, exceeding all financial targets and launching the Swiss Life 2027 program. Asset management and real estate drove growth, with a proposed 6% dividend increase and robust capital position.
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Swiss Life 2027 sets higher ambitions for growth, targeting a fee result above CHF 1 billion, a 17%-19% ROE, and CHF 3.6-3.8 billion in cash remittance by 2027. Strategic priorities include expanding the customer and advisor base, digitalization, and sustainability, with each division contributing through tailored growth initiatives.
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Fee and commission income rose 6% to CHF 1.9 billion, with broad-based growth across segments. The group expects to meet or exceed most 2024 financial targets, though the 6,500 advisor target in Germany is out of reach. SST ratio remains strong at 205%.
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Fee result grew 17% and cash remittance rose 19%, both exceeding targets, with return on equity at 17.8%. Segment performance was strong in France and asset management, while real estate market normalization in Germany and France remains key for future targets.