Cash flow Hannover Re

Equities

HNR1

DE0008402215

Reinsurance

Market Closed - Xetra Other stock markets 16:39:37 17/04/2026 BST			5-day change	1st Jan Change
275.60 ^EUR	+0.22%		+1.03%	+3.53%

04-16	HANNOVER RUECKVERSICHERUNG AG : RBC gives a Neutral rating	ZD
04-15	HANNOVER RUECKVERSICHERUNG AG : Barclays reaffirms its Sell rating	ZD

7964845eebe8167c077138db51d2a1.fSnAUbVeVfc1VXi-OD2m7NgZ7sVD4Cp1bdJ9Og18v1M.BUC3EIU5bcJWBjXnXg3c2-lRoqcgk3AsBOY1D04K1h83f6FlzDUSlQIsPQ

Published financial data: HANNOVER RE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	24.14B	29.67B	24.46B	23.04B	23.29B
Total Interest And Dividend Income	1.87B	2.1B	1.42B	169M	3.2B
Gain (Loss) on Sale of Investments, Total (Rev)	193M	-94.87M	-154M	-90.4M	-564M
Other Revenues, Total	71.97M	110M	-	-	-
Total Revenues	26.28B	31.79B	25.72B	23.11B	25.92B
Policy Benefits	18.32B	22.34B	22.8B	20.02B	19.79B
Policy Acquisition / Underwriting Costs, Total	6.08B	7.49B	-	-	-
Selling General & Admin Expenses, Total	511M	576M	-	-	-
Provision for Bad Debts	-	-	156M	98.3M	85.7M
Other Operating Expenses	-305M	-457M	441M	435M	490M
Reinsurance Income Or Expense	288M	379M	-	-	-
Total Operating Expenses	24.32B	29.58B	23.4B	20.55B	20.36B
Operating Income	1.96B	2.21B	2.33B	2.56B	5.56B
Interest Expense, Total	-293M	-168M	-158M	-152M	-134M
Income (Loss) on Equity Invest.	-	-	16.3M	27.4M	-33.2M
Currency Exchange Gains (Loss)	-77.53M	-88.32M	-409M	771M	-1.99B
Other Non Operating Income (Expenses)	-	-	76M	2.7M	22.5M
EBT, Excl. Unusual Items	1.59B	1.96B	1.85B	3.21B	3.43B
Restructuring Charges	-	41M	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-12.4M
Other Unusual Items	59.1M	-	-	-	-
EBT, Incl. Unusual Items	1.65B	2B	1.85B	3.21B	3.41B
Income Tax Expense	352M	454M	26.4M	816M	645M
Earnings From Continuing Operations	1.3B	1.54B	1.83B	2.4B	2.77B
Net Income to Company	1.3B	1.54B	1.83B	2.4B	2.77B
Minority Interest	-68.89M	-136M	-2.8M	-68.1M	-126M
Net Income - (IS)	1.23B	1.41B	1.82B	2.33B	2.64B
Net Income to Common Incl Extra Items	1.23B	1.41B	1.82B	2.33B	2.64B
Net Income to Common Excl. Extra Items	1.23B	1.41B	1.82B	2.33B	2.64B
Per Share Items
Net EPS - Basic	10.21	11.66	15.13	19.31	21.9
Basic EPS - Continuing Operations	10.21	11.66	15.13	19.31	21.9
Basic Weighted Average Shares Outstanding	121M	121M	121M	121M	121M
Net EPS - Diluted	10.21	11.66	15.13	19.31	21.9
Diluted EPS - Continuing Operations	10.21	11.66	15.13	19.31	21.9
Diluted Weighted Average Shares Outstanding	121M	121M	121M	121M	121M
Normalized Basic EPS	7.68	9.01	9.59	16.09	16.71
Normalized Diluted EPS	7.68	9.01	9.59	16.09	16.71
Dividend Per Share	4.5	5	6	7	12.5
Payout Ratio	44.07	38.58	32.63	31.07	31.96
American Depositary Receipts Ratio (ADR)	0.17	0.17	0.17	0.17	0.17
Supplemental Items
EBITDA	2.08B	2.45B	2.41B	2.65B	5.64B
EBITA	1.98B	2.23B	2.35B	2.58B	5.58B
EBIT	1.96B	2.21B	2.33B	2.56B	5.56B
EBITDAR	2.08B	2.45B	2.41B	2.65B	-
Total Revenues (As Reported)	26.09B	31.73B	-	-	-
Effective Tax Rate - (Ratio)	21.28	22.72	1.42	25.41	18.91
Current Domestic Taxes	77.6M	42.95M	152M	502M	297M
Current Foreign Taxes	113M	222M	240M	240M	297M
Total Current Taxes	190M	265M	391M	742M	594M
Deferred Domestic Taxes	200M	289M	-188M	11.7M	35.2M
Deferred Foreign Taxes	-39.22M	-100M	-176M	62.6M	15.9M
Total Deferred Taxes	161M	189M	-365M	74.3M	51.1M
Normalized Net Income	927M	1.09B	1.16B	1.94B	2.01B
Interest on Long-Term Debt	3.7M	3.9M	3.3M	3.5M	2.9M
Non-Cash Pension Expense	1.07M	1.85M	4.9M	5.3M	4.8M
Supplemental Operating Expense Items
General and Administrative Expenses	511M	576M	-	-	-
Net Rental Expense, Total	400K	1.1M	1.3M	900K	-
Imputed Operating Lease Interest Expense	237K	289K	316K	218K	-
Imputed Operating Lease Depreciation	163K	811K	984K	682K	-
Stock-Based Comp., Other (Total)	15.5M	14.8M	20.2M	31M	22.9M
Total Stock-Based Compensation	15.5M	14.8M	20.2M	31M	22.9M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	47.62B	46.77B	-	-	56.24B
Investment In Equity and Preferred Securities, Total	553M	2.24B	2.06B	119M	595M
Trading Asset Securities, Total	80.7M	127M	3.94B	-	5.97B
Real Estate Owned	1.82B	2.32B	2.54B	2.61B	2.67B
Total Other Investments	4.19B	3.29B	51.12B	62.64B	117M
Total investments	54.26B	54.74B	59.65B	65.37B	65.59B
Cash And Equivalents	1.36B	1.32B	1.05B	1.25B	1.05B
Reinsurance Recoverable - (IS)	2.97B	3.65B	2.65B	3.12B	2.14B
Other Receivables - (Insurance Template)	7.78B	8.96B	638M	711M	928M
Deferred Policy Acquisition Costs - (BS)	3.35B	3.58B	-	-	-
Gross Property Plant And Equipment	287M	296M	-	287M	227M
Accumulated Depreciation	-122M	-134M	-	-136M	-95.8M
Net Property Plant And Equipment	165M	162M	148M	150M	132M
Goodwill	83.93M	77.36M	78M	79.9M	77.9M
Other Intangibles, Total	138M	134M	135M	132M	118M
Other Current Assets, Total	11.85B	12.32B	136M	254M	460M
Deferred Tax Assets Long-Term (Collected)	676M	1.87B	628M	502M	374M
Other Long-Term Assets, Total	281M	139M	1.37B	562M	456M
Total Assets	82.9B	86.95B	66.49B	72.13B	71.33B
Liabilities
Accounts Payable, Total	-	-	-	-	1.1B
Accrued Expenses, Total	40.6M	47.87M	46.5M	222M	221M
Insurance And Annuity Liabilities	49.16B	55.05B	-	-	-
Unearned Premiums	6.2B	6.65B	-	-	-
Reinsurance Payable - (BS)	3.01B	3.53B	44.94B	49.57B	47.98B
Current Portion of Long-Term Debt	24.02M	262M	-	84.6M	171M
Current Portion of Leases	8.49M	8.2M	7.8M	14.9M	10.8M
Short-Term Borrowings	89.8M	250M	-	116M	211M
Long-Term Debt	4.24B	5.14B	4.77B	4.48B	3.9B
Long-Term Leases	104M	103M	93M	91.7M	81.3M
Current Income Taxes Payable	92.02M	191M	226M	604M	450M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	195M	279M	-	16.9M	116M
Unearned Revenue Non Current	144M	176M	58M	61.2M	72M
Pension & Other Post Retirement Benefits	209M	154M	164M	159M	147M
Deferred Tax Liability Non-Current	2.84B	2.62B	2.1B	1.8B	2B
Other Non Current Liabilities	3.8B	3.74B	3.06B	2.22B	935M
Total Liabilities	70.15B	78.2B	55.47B	59.44B	57.4B
Common Stock, Total	121M	121M	121M	121M	121M
Additional Paid In Capital	725M	725M	725M	725M	725M
Retained Earnings	8.99B	9.7B	9.12B	10.6B	12.7B
Comprehensive Income and Other	2.05B	-2.45B	158M	354M	-617M
Total Common Equity	11.89B	8.09B	10.13B	11.79B	12.93B
Minority Interest	871M	657M	893M	894M	1B
Total Equity	12.76B	8.75B	11.02B	12.69B	13.93B
Total Liabilities And Equity	82.9B	86.95B	66.49B	72.13B	71.33B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	121M	121M	121M	121M	121M
ECS Total Common Shares Outstanding	121M	121M	121M	121M	121M
Book Value / Share	98.55	67.09	83.97	97.8	107.21
Tangible Book Value	11.66B	7.88B	9.91B	11.58B	12.73B
Tangible Book Value Per Share	96.71	65.34	82.21	96.05	105.58
Total Debt	4.46B	5.76B	4.88B	4.79B	4.37B
Net Debt	3.11B	4.44B	3.82B	3.53B	3.32B
Debt Equivalent of Unfunded Proj. Benefit Obligation	208M	146M	159M	148M	134M
Debt Equivalent Oper. Leases	3.2M	8.8M	10.4M	7.2M	-
Minority Interest, Total (Incl. Fin. Div)	871M	657M	893M	894M	1B
Equity Method Investments, Total	238M	2.23B	2.06B	119M	85M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	-	-	-	-	-
Machinery, Total	157M	174M	-	177M	122M
Full Time Employees	3.35K	3.52K	3.76K	3.64K	3.73K
Part Time Employees	-	-	-	499	513

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.23B	1.41B	1.82B	2.33B	2.64B
Depreciation, Depletion & Amortization	112M	232M	69.1M	74.1M	75M
Amortization of Goodwill and Intangible Assets - (CF)	21.41M	21.57M	21.8M	21M	21.5M
Total Depreciation, Depletion & Amortization	134M	253M	90.9M	95.1M	96.5M
(Gain) Loss On Sale of Asset - (CF)	-9.91M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-317M	-226M	-	-	-
Total Asset Writedown	16.87M	18.24M	79.1M	37.5M	26.1M
Deferred Policy Acquisition Costs - (CF)	-106M	-186M	-	-	-
Change in Accounts Receivable	-844M	-780M	450M	-	-
Reinsurance Recoverable - (CF)	-	-	1.17B	-	-
Change in Unearned Revenues	-	-	-	-	-
Change In Deferred Taxes	241M	347M	-	-	-
Change in insurance Reserves / Liabilities	4.28B	4.53B	-	-	-
Change in Other Net Operating Assets (Collected)	290M	25.64M	3.85B	3.73B	2.55B
Other Operating Activities	22.98M	-219M	-1.68B	-511M	372M
Cash from Operations	4.94B	5.16B	5.79B	5.68B	5.69B
Sale (Purchase) of Real Estate Properties (Collected)	-	-	-410M	-174M	-290M
Investment in Marketable and Equity Securities, Total	-5.26B	-5.69B	-3.76B	-4.37B	-3.8B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-34.86M	65.96M	-	-	-
Other Investing Activities, Total	30.06M	239M	-339M	130M	55.4M
Cash from Investing	-5.26B	-5.38B	-4.51B	-4.41B	-4.03B
Long-Term Debt Issued, Total	881M	895M	361M	-	103M
Total Debt Issued	881M	895M	361M	-	103M
Long-Term Debt Repaid, Total	-15.59M	-37.99M	-1.12B	-196M	-704M
Total Debt Repaid	-15.59M	-37.99M	-1.12B	-196M	-704M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-543M	-543M	-596M	-724M	-844M
Common & Preferred Stock Dividends Paid	-543M	-543M	-596M	-724M	-844M
Special Dividend Paid	-	-151M	-128M	-145M	-241M
Other Financing Activities, Total	-45.31M	-29.84M	-20.5M	-40.4M	-60.1M
Cash from Financing	278M	133M	-1.5B	-1.1B	-1.75B
Foreign Exchange Rate Adjustments	120M	53.22M	-42.7M	33.5M	-112M
Net Change in Cash	77.04M	-31.94M	-268M	198M	-202M
Supplemental Items
Cash Interest Paid	419M	414M	342M	303M	387M
Cash Income Tax Paid (Refund)	137M	70.88M	321M	362M	973M
Net Debt Issued / Repaid	866M	857M	-757M	-196M	-601M
Levered Free Cash Flow	1.12B	2.62B	4.94B	6.03B	2.9B
Unlevered Free Cash Flow	1.3B	2.72B	5.04B	6.12B	2.98B
Change In Net Working Capital	73.69M	-1.07B	-3.47B	-4.39B	608M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.59	1.63	2.25	2.33	4.84
Return on Total Capital	7.55	8.71	9.28	9.5	19.41
Return On Equity %	10.57	14.35	17.43	20.22	20.79
Return on Common Equity	10.76	14.08	19.02	21.25	21.37
Margin Analysis
Gross Profit Margin %	7.16	6.14	11.37	13.4	23.66
SG&A Margin	1.94	1.81	-	-	-
EBITDA Margin %	7.93	7.71	9.35	11.47	21.76
EBITA Margin %	7.55	7.03	9.14	11.18	21.52
EBIT Margin %	7.47	6.96	9.05	11.09	21.43
Income From Continuing Operations Margin %	4.95	4.85	7.1	10.37	10.68
Net Income Margin %	4.69	4.43	7.09	10.07	10.19
Net Avail. For Common Margin %	4.69	4.43	7.09	10.07	10.19
Normalized Net Income Margin	3.53	3.42	4.49	8.39	7.77
Levered Free Cash Flow Margin	4.26	8.24	19.21	26.07	11.19
Unlevered Free Cash Flow Margin	4.96	8.57	19.59	26.48	11.51
Asset Turnover
Asset Turnover	0.34	0.37	0.4	0.34	0.36
Fixed Assets Turnover	174.15	194.23	166.12	155.08	183.83
Short Term Liquidity
Current Ratio	1.1	1.03	0.19	0.11	0.21
Quick Ratio	0.42	0.4	0.11	0.03	0.15
Operating Cash Flow to Current Liabilities	0.22	0.2	0.13	0.11	0.11
Average Days Payable Outstanding	212.87	207.85	698.55	864.05	918.32
Long Term Solvency
Total Debt/Equity	34.98	65.85	44.24	37.72	31.39
Total Debt / Total Capital	25.91	39.7	30.67	27.39	23.89
LT Debt/Equity	34.02	59.91	44.17	36.01	28.57
Long-Term Debt / Total Capital	25.2	36.12	30.62	26.15	21.74
Total Liabilities / Total Assets	84.61	89.94	83.43	82.41	80.47
EBIT / Interest Expense	6.7	13.16	14.77	16.86	41.58
EBITDA / Interest Expense	7.16	14.67	15.35	17.48	42.31
(EBITDA - Capex) / Interest Expense	7.16	14.67	15.35	17.48	42.31
Total Debt / EBITDA	2.13	2.34	2.02	1.8	0.77
Net Debt / EBITDA	1.48	1.8	1.58	1.33	0.59
Total Debt / (EBITDA - Capex)	2.13	2.34	2.02	1.8	0.77
Net Debt / (EBITDA - Capex)	1.48	1.8	1.58	1.33	0.59
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.42	20.95	6.46	3.4	12.14
Gross Profit, 1 Yr. Growth %	68.91	3.81	97.24	5.88	97.97
EBITDA, 1 Yr. Growth %	54.35	17.61	104.91	10.18	112.77
EBITA, 1 Yr. Growth %	62.19	12.53	108.69	9.99	115.76
EBIT, 1 Yr. Growth %	63.13	12.66	110.8	10.12	116.69
Earnings From Cont. Operations, 1 Yr. Growth %	41.52	18.65	103.45	31.14	15.47
Net Income, 1 Yr. Growth %	39.44	14.24	133.71	27.61	13.43
Normalized Net Income, 1 Yr. Growth %	38.97	17.22	49.61	67.85	3.84
Diluted EPS Before Extra, 1 Yr. Growth %	39.48	14.2	133.85	27.63	13.41
Net Property, Plant and Equip., 1 Yr. Growth %	21.14	-2.02	-8.83	1.83	-12.5
Total Assets, 1 Yr. Growth %	16.05	4.89	5.6	9.84	-1.11
Common Equity, 1 Yr. Growth %	8.09	-31.92	11.78	16.47	9.62
Tangible Book Value, 1 Yr. Growth %	8.16	-32.43	12.04	16.83	9.92
Cash From Operations, 1 Yr. Growth %	63.69	4.53	16.95	-1.79	0.09
Levered Free Cash Flow, 1 Yr. Growth %	-66.64	136.28	-86.33	-33.31	330.78
Unlevered Free Cash Flow, 1 Yr. Growth %	-62.78	110.92	-86.08	-32.99	288.35
Dividend Per Share, 1 Yr. Growth %	0	11.11	20	16.67	78.57
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10.35	17.13	-1.07	-2.2	7.68
Gross Profit, 2 Yr. CAGR %	0.91	32.42	24.73	44.51	44.78
EBITDA, 2 Yr. CAGR %	2.62	34.74	7.46	50.26	53.11
EBITA, 2 Yr. CAGR %	1.95	35.1	8.82	51.51	54.05
EBIT, 2 Yr. CAGR %	1.91	35.57	8.9	52.36	54.47
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.7	29.58	18.56	63.34	23.06
Net Income, 2 Yr. CAGR %	-2.08	26.21	21.74	72.7	20.31
Normalized Net Income, 2 Yr. CAGR %	-2.69	27.63	11.7	58.47	32.02
Diluted EPS Before Extra, 2 Yr. CAGR %	-2.08	26.21	21.73	72.76	20.31
Net Property, Plant and Equip., 2 Yr. CAGR %	8.98	8.94	-5.48	-3.65	-5.61
Total Assets, 2 Yr. CAGR %	7.79	10.33	-10.45	7.03	4.22
Common Equity, 2 Yr. CAGR %	6.25	-14.22	-7.69	14.1	12.99
Tangible Book Value, 2 Yr. CAGR %	6.38	-14.51	-7.8	14.41	13.33
Cash From Operations, 2 Yr. CAGR %	40.32	30.81	8.21	7.17	-0.86
Levered Free Cash Flow, 2 Yr. CAGR %	-30.91	-11.66	111.12	-59.17	-43.35
Unlevered Free Cash Flow, 2 Yr. CAGR %	-27.31	-11.77	97.52	-58.88	-42.85
Dividend Per Share, 2 Yr. CAGR %	6.07	5.41	15.47	18.32	44.34
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.53	13.78	3.54	-4.19	2.37
Gross Profit, 3 Yr. CAGR %	1.07	1.87	37.99	18.1	60.49
EBITDA, 3 Yr. CAGR %	5.2	7.39	21.24	8.36	68.73
EBITA, 3 Yr. CAGR %	5.08	5.36	24.3	9.21	70.46
EBIT, 3 Yr. CAGR %	5.09	5.38	24.61	9.31	71.34
Earnings From Cont. Operations, 3 Yr. CAGR %	4.31	3.95	25.76	22.61	45.51
Net Income, 3 Yr. CAGR %	5.14	3.09	27.37	23.66	50.12
Normalized Net Income, 3 Yr. CAGR %	2.46	3.54	20.13	27.94	37.64
Diluted EPS Before Extra, 3 Yr. CAGR %	5.14	3.07	27.38	23.67	50.15
Net Property, Plant and Equip., 3 Yr. CAGR %	20.99	5.18	2.67	-3.11	-6.69
Total Assets, 3 Yr. CAGR %	8.72	6.81	-2.37	-4.53	4.25
Common Equity, 3 Yr. CAGR %	10.63	-8.4	-2.7	-0.25	12.58
Tangible Book Value, 3 Yr. CAGR %	10.85	-8.56	-2.76	-0.23	12.9
Cash From Operations, 3 Yr. CAGR %	30.47	27.2	24.22	4.77	4.76
Levered Free Cash Flow, 3 Yr. CAGR %	-2.19	3.75	13.76	75.84	-56.87
Unlevered Free Cash Flow, 3 Yr. CAGR %	-0.75	3.39	12.93	67.98	-56.49
Dividend Per Share, 3 Yr. CAGR %	6.27	7.72	10.06	15.87	35.72
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	10.32	12.62	6.31	1.38	2.27
Gross Profit, 5 Yr. CAGR %	-0.47	3.9	9.94	10.9	40.67
EBITDA, 5 Yr. CAGR %	1.84	8.42	6.1	6.02	33.1
EBITA, 5 Yr. CAGR %	1.86	7.51	6.56	6.25	35.44
EBIT, 5 Yr. CAGR %	1.79	7.55	6.6	6.29	35.79
Earnings From Cont. Operations, 5 Yr. CAGR %	1.18	8.11	9.79	11.78	24.67
Net Income, 5 Yr. CAGR %	1.01	7.97	11.49	12.64	24.5
Normalized Net Income, 5 Yr. CAGR %	-0.59	8.52	6.06	14.67	24.75
Diluted EPS Before Extra, 5 Yr. CAGR %	1.01	7.97	11.48	12.64	24.5
Net Property, Plant and Equip., 5 Yr. CAGR %	11.86	11.57	9.61	1.56	-0.73
Total Assets, 5 Yr. CAGR %	5.45	7.28	0.61	0.22	-0.03
Common Equity, 5 Yr. CAGR %	5.73	-1.05	2.9	2.3	3.29
Tangible Book Value, 5 Yr. CAGR %	5.6	-1.04	2.98	2.36	3.38
Cash From Operations, 5 Yr. CAGR %	16.21	24.98	21.07	17.76	13.51
Levered Free Cash Flow, 5 Yr. CAGR %	-35.92	14.21	32.79	20.77	-2.88
Unlevered Free Cash Flow, 5 Yr. CAGR %	-33.77	12.75	30.48	19.95	-3.14
Dividend Per Share, 5 Yr. CAGR %	5.15	7.39	9.86	11.84	22.67