On the basis of the preliminary results for the first quarter 2020 Allianz Group expects an operating profit for Q1 of 2.3 billion euros (Q1 2019: 3.0 billion) and a shareholder's net income for Q1 of 1.4 billion euros (Q1 2019: 2.0 billion).
In light of the uncertainties for the macroeconomic development caused by the current pandemic and the now available updated financial plans of the operating entities of the Group, from today's perspective the Board of Management does not assume that Allianz Group can achieve the target range for the operating profit for 2020 in the amount of 12 billion euros +/- 500 million euros.
A new profit target for 2020 will be announced by the Board of Management upon completion of the revised planning.
Explanations of the alternative financial ratios used (Alternative Performance Measures (APM)) can be found on the website of Allianz SE.