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PZU SAUPDATE: PZU insurer posts PLN 1.76 bln attrib. net profit in Q1 2025, above expectations
Listed insurance group PZU posted PLN 1.76 billion (EUR 414.5 mln) attributable net profit in the first quarter of 2025, above the PAP Biznes consensus for PLN 1.522 billion (EUR 358.43 mln) net take, PZU's financial report showed. The insurer's profit was therefore 16 percent higher than the market expectations.
| 1Q2025 | results | consensus | difference | ||
| PLN mln | PLN mln | % | |||
| insurance revenue (gross) | 7 533 | 7 572 | -1% | ||
| insurance service expense (net) | 6 079 | 6 026 | 1% | ||
| insurance service result | 1 251 | 1 115 | 12% | ||
| attributable net profit | 1 760 | 1 522 | 16% | ||
| Q1 2025 | Q1 2024 | difference | Q4 2024 | difference | |
| insurance revenue (gross) | 7 533 | 7 012 | 7% | 7 587 | -1% |
| insurance service expense (net) | 6 079 | 5 834 | 4% | 5 862 | 4% |
| insurance service result | 1 251 | 787 | 59% | 1 222 | 2% |
| attributable net profit | 1 760 | 1 254 | 40% | 1 681 | 5% |
PZU's adjusted return on equity ratio (aROE) reached 22.4 percent (up 5.3 percentage points year on year).
"The increase in the profitability of the insurance business is particularly pleasing. The result from insurance and other business increased to almost PLN 1.3 billion, by more than half year on year," said the acting CEO of PZU Andrzej Klesyk, quoted in the press release.
"We achieved significant increases in sales value and very good profitability. The challenge for the near term is to maintain or increase both profitability and our market position," he added.
The net result from investments amounted to PLN 5.533 billion (EUR 1.3 bln), 4 percent higher than expected and up by 9 percent year on year.
PZU Group's assets amount to almost PLN 508 billion (EUR 119.63 bln), the Solvency II ratio reaches 226 percent.
seb/ ao/