EarningsQ2 2026 Earnings Report
DE:FO4 Q2 2026 EPS Results
Actual EPS€4.09
Consensus EPS€3.74
Beat/MissBeat by +€0.35
One Year Ago EPS€4.12
DE:FO4 Q2 2026 Revenue Results
Actual Revenue€8.48B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+59.29%
Earnings Announcement Details
QuarterQ2 2026
Date08/27/2026
TimeBefore Open
Conference CallThursday, August 27, 2026
DE:FO4 Upcoming Earnings
ageas's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:FO4 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and commercial performance: strong inflows across Life and Non-Life, robust Life profitability, solid capital and cash generation, and an upgraded full-year net operating result and cash upstream guidance. Offsetting headwinds were meaningful weather-related losses that pressured the combined ratio, a decline in the Solvency II ratio driven by several flagged items, a drop in operational free capital generation due to higher capital requirements and one-off upstream items, and some challenges in China (regulatory changes and product-mix pressure). On balance the company demonstrated resilience and strategic progress while acknowledging manageable short-term impacts.Company Guidance
Strong Top-Line Inflows
Total inflows up 17% at constant exchange rate (8% at constant scope). Life inflows up >12% (>9% at constant scope). Non-Life inflows up >26% (6% at constant scope).
Geographic Commercial Momentum
Belgium Life inflows +28% (14% at constant scope); Europe inflows +41% (constant FX) driven by Turkiye and Portugal; Asia inflows +4% with China +3% and Thailand +9%; Emerging markets: India +16%, Philippines +9%.
Robust Profitability and ROE
Group net operating result of EUR 776 million in H1 2026, up 6% year-on-year, translating into a return on equity of 15.8%.
Life Business Outperformance
Life net operating result EUR 629 million, up 17% YoY. Belgium Life result +20% (constant scope). Europe Life net operating result +33%; Asia Life +6%. Group Life new business PVNBP +15% (constant FX) and group Life new business margin at 7.9%.
Raised Full-Year Guidance
Full year 2026 net operating result guidance raised to above EUR 1.95 billion (includes EUR 450 million net capital gain), and full-year cash upstream guidance increased to above EUR 1.4 billion (49% higher than last year and above original EUR 1.2 billion guidance).
Strong Cash and Capital Generation
Operational capital generation approx. EUR 1.1 billion; operational free capital generation EUR 484 million (H1); cash position ~EUR 1.2 billion at June-end; expected full-year upstream >EUR 1.4 billion with >EUR 1.1 billion already received in H1.
Solvency and Balance Sheet Strength
Comprehensive equity increased by EUR 2.2 billion to EUR 19.7 billion; shareholders' equity EUR 10.2 billion. Solvency II ratio at 195% (end-June) with planned positive solvency effect of +23 percentage points upon sale of Malaysian activities at closing.
Strategic Progress: M&A and Digital
Completed 25% step-up to full ownership of AG Insurance; UK expansion via Saga and esure; investment in Taiping Pension (China). Accelerated Elevate27 data & AI agenda: >300 use cases (≈40 shareable), 35% target claims/fraud, 20% underwriting, 20% customer experience.
DE:FO4 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed