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AR 2024
Annual Report 2024

Würth Finance Group

 

 

Short overview of the Würth Finance Group

Profit before taxes
90.0
million EUR
Total operating income
130.0
million EUR
Balance sheet total
1.00
billion EUR
Number of employees
80
employees (FTEs)

Key Events 2024

 

  • Defied a difficult market environment: After three years of exceptionally high growth, the Würth Group suffered a drop in sales of 0.9%. It acquired 90,000 new customers, while the number of orders rose by 5% in the second half of the year. That represents a significantly better performance than that of its competitors (according to preliminary figures).
     
  • Surpassed the 100 million mark: Thanks to record interest income on cash investments, the Würth Finance Group generated a pre-tax profit of EUR 106.4 million (adjusted figures) and made a significant contribution to the Würth Group’s consolidated profit.
     
  • Very successful refinancing of the 2018–2025 bond in a receptive capital market environment: At the end of October, Würth Finance International B.V. issued a bond for EUR 500 million with a term of just under seven years. It was five times oversubscribed and was placed with an attractive credit spread.
     
  • Successful performance for the year: Würth Financial Services AG posted revenue growth of almost 7% compared to the previous year and concluded financial year 2024 with a record operating result.
     
  • Technological progress: Insurance companies and insurance brokers must extend their expertise and modernise their own infrastructure. Würth Financial Services AG laid the foundations in 2024 for utilising future potential.
     

Download Annual Report 2024 Download Annual Report 2024

Download Financial Statements 2024 Download Financial Statements 2024

 

Report
Board of Directors
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Report
Report
Report
Management of the Würth Finance Group
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Report
Inhouse Banking
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Report
Report
Report
External Financial Services
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Key figures

The primary objective of the Management of the Würth Finance Group is to create continuous value added for the Würth Group. The Management is responsible for generating adequate risk-adjusted returns. In order to be successful in the long term, the Würth Finance Group needs to generate an overall return that is higher than the risk-adjusted cost of capital.

 

Key figures from the consolidated income statement

 

in TEUR 2020 2021 2022 2023 2024
Net interest income 13,789 14,170 29,576 50,844 63,897
Income from factoring activities 16,275 16,234 17,733 13,573 13,613
Income from commission and service fee activities 37,668 43,725 48,348 49,564 49,505
Income from trading activities and financial instruments 12,376 14,789 11,289 20,376 23,540
Other ordinary income 1,709 797 653 592 910
Expected credit loss (expenses) / recovery -7,886 6,846 -4,615 4,273 1,742
Total operating income 73,931 96,561 102,984 139,222 153,207
Total operating expenses -31,519 -34,031 -36,656 -41,021 -45,027
Profit before taxes 42,412 62,530 66,328 98,201 108,180

 

 

Operating income adjustments Inhouse Banking

 

in TEUR 2020 2021 2022 2023 2024
Hedge accounting effect management accounting 1,492 -548 -619 -203 0
Impairment for credit loss 8,558 -6,450 4,615 -4,273 -1,742
Total operating income (adjusted) 83,981 89,563 106,980 134,747 151,465
Profit before taxes (adjusted) 52,462 55,532 70,324 93,726 106,438

 

 

total asset
Number of employees
Cost-income ratio
Return on equity before tax

 

 

 

 

This version of the annual financial reporting of the Würth Finance Group for the year ended 31 December 2024 is not presented in the ESEF format as specified in the Regulatory Technical Standards on ESEF (Delegated Regulation (EU) 2019/815). The ESEF annual financial reporting is available at: wuerthfinance.net.

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