PZU rises after new strategy aims for higher-than-expected profit

Powszechny Zaklad Ubezpieczen SA

02/12/2024 08:55

** Shares in PZU  PZU.WA  rise around 3.7% to their highest
in almost three months after Poland's biggest insurer said its
targets over 6.2 billion zloty net profit by 2027 as part of a
new strategy for 2025-2027
    ** As of Sept 30, PZU's year-to-date profit was 3.66
billion, around 85% of the annual target of 4.3 billion, putting
the planned 2027 figure around 44% above the 2024 net profit
target.
    ** "The strategy seems to be quite optimistic, ambitious.
Financial targets  ...  are at least in line with the market
consensus  ...  or, as far as the net profit is concerned, above
these expectations," Erste analyst Lukasz Janczak says
    ** As of 0844 GMT, the shares were the top gainer on
Poland's blue-chip  WIG20  index

 (Reporting by Rafal W. Nowak)
 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))