21st Austria weekly - Bawag, Warimpex (29/04/2025)

Bawag: BAWAG Group released its results for the first quarter 2025, reporting a net profit of € 201 million, earnings per share of € 2.54, and a RoTCE of 25.8%. Pre-provision profits were at € 336 million and the cost-income ratio at 37%. The first quarter 2025 represents the starting point as a larger group. After the closing of the most recent acquisition, Barclays Consumer Bank Europe, on February 1, 2025, the first quarter results include a full quarter of Knab and two months of Barclays Consumer Bank Europe. Anas Abuzaakouk, CEO, commented: “We delivered net profit of € 201 million, EPS of € 2.54, and a return on tangible common equity of 26% during the first quarter. The recent market volatility from the short-term impacts of changing tariffs and more long-term impacts on global trade will take some time to be fully understood. However, we have a solid foundation, a fortress balance sheet, and a leadership team that has worked together for over a decade navigating changing currents as we aim to be a source of strength for our customers and the communities we serve.”
Bawag: weekly performance: 5.50%

Warimpex:  The Warimpex Group achieved a positive operational performance in line with expectations in 2024, with revenues improving by 14 per cent to EUR 21.5 million and EBITDA remaining clearly positive at EUR 1.1 million. However, negative results from property valuation and the increase in finance expenses had a major impact on the result, and the consolidated result outside of Russia declined from minus EUR 5.6 million in 2023 to minus EUR 16.2 million in 2024. Including Russia, the result went from minus EUR 23.8 million to minus EUR 84.8 million. Due to the transaction in Russia at the end of October 2024, Warimpex reported the Russian business activities as a discontinued operation in the consolidated financial statements in order to present a transparent picture of the current earnings situation. “Warimpex looks back on a challenging year in which the entire industry was confronted with difficult market conditions and geopolitical distortions due to the ongoing conflict in Ukraine.Overall, we achieved a stable operating result, but the result for 2024 was impacted significantly by our operations in Russia, which we have now disposed of,” commented Warimpex CEO Franz Jurkowitsch. “Three developments provide plenty of reason to be optimistic about the future: Our successful withdrawal from Russia is manageable due to our solid equity base, and we now have more room to freely manoeuvre in all of our business activities. At the same time, our core market of Poland is growing well above the EU average, which is having a positive effect on our operations there. Thirdly, conditions are more favourable for new developments again thanks to the ECB’s interest rate cuts since the summer of 2024.”
Warimpex: weekly performance: -0.35%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (29/04/2025)

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