Allianz: Earnings Growth Accelerated

Result Update

For QE30/6/2019, Allianz's net profit rose 19% q-o-q or 31% y-o-y to RM118 million while revenue rose 1.6% q-o-q or 4.5% y-o-y to RM1.366 billion. The Group’s operating revenue rose 1.6% q-o-q to RM1.37 billion due to a 1.8%-increase in general insurance segment’s operating revenue to RM582.1 million [due mainly to higher gross earned premiums in the current quarter] and a 1.5%-increase in  life insurance segment’s operating revenue to RM780.7 million [due mainly to higher investment income in the current quarter].

The Group’s profit before tax rose 17.5% to RM177.7 million due mainly to higher profit contribution from both insurance segments. The profit before tax of general insurance segment rose 6.6% to RM91.7 million, due mainly to better underwriting profit as a result of lower management expenses. Meanwhile, the profit before tax of life insurance segment rose 28.3% to RM88.4 million, due mainly to higher fair value gain arising from change in interest rate. The investment holding segment registered a loss before tax of RM2.5 million as compared to a loss before tax of RM3.3 million in the preceding quarter ended 31 March 2019 due to lower management expenses in the current quarter.


Table: Allianz's last 8 quarterly results


Graph: Allianz's last 54 quarterly results

Valuation

Allianz (closed RM13.80 yesterday) is now trading at a PE of 11.5 times (based on last 4 quarters' diluted EPS of 120 sen). At this PE, Allianz is deemed fairly attractive.

Technical Outlook

Allianz is in a long-term uptrend line, with support at RM11.80. Its immediate resistance is at the horizontal line at RM14.80.


Chart 1: Allianz's weekly chart as at Aug 23, 2019_10.30am (Source: Malaysiastock.biz)


Chart 2: Allianz's daily chart as at Aug 23, 2019_10.30am (Source: Malaysiastock.biz)

Conclusion

Based on satisfactory financial performance, fairly attractive valuation and positive technical outlook, Allianz remains a good stock for long-term investment.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Allianz: Earnings rose y-o-y

Result Update

For QE31/3/2019, Allianz's net profit dropped 1% q-o-q but rose 13% y-o-y to RM99 million while revenue rose 3% q-o-q or 6% y-o-y to RM1.344 billion. The Group's operating revenue rose q-o-q  due to a 7%-increase in operating revenue from life insurance segment brought on by higher premiums generated from bancassurance and employee benefits channel. This offset the 1.5%-drop in operating revenue from the general insurance segment mainly due to lower gross earned premiums. The Group’s profit before tax rose 18.3% q-o-q due mainly to higher profit contribution from life insurance segment.


Table: Allianz's last 8 quarterly results


Graph: Allianz's last 53 quarterly results

Valuation

Allianz (closed RM13.18 yesterday) is now trading at a PE of 11.8 times (based on last 4 quarters' EPS of 112 sen). At this PE, Allianz is deemed fairly attractive.

Technical Outlook

Allianz is in a long-term uptrend line, SS with support at RM11.80. Its immediate resistance is at the horizontal line at RM14.70.


Chart: Allianz's weekly chart as at May 23, 2019 (Source: Malaysiastock.biz)

Conclusion

Based on satisfactory financial performance, fairly attractive valuation and positive technical outlook, Allianz remains a good stock for long-term investment.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Allianz: Earnings at New High

Result Update

For QE30/9/2018, Allianz's net profit increased by 11% q-o-q or 48% y-o-y to RM99.9 million while revenue is mixed- down 0.4% q-o-q but up 10% y-o-y to RM1.3 billion.

The Group’s operating revenue dropped 0.4% due to lower gross earned premiums by RM11.9 million. The Group’s PBT increased by 27.5% due mainly to higher contribution from life insurance segment.


Table: Allianz's last 8 quarterly results

Allianz's quarterly profits are at all time high!


Graph: Allianz's last 50 quarterly results

Valuation

Allianz (closed RM12.40 in morning session) is now trading at a PE of 11.8 times (based on last 4 quarters' EPS of 105 sen). At this PE, Allianz is deemed fairly attractive.

Technical Outlook

Allianz is in a long-term uptrend line, SS with support at RM9.00. Its uptrend accelerated from mid-2012 in uptrend line, S1-S1 with support at RM12.00.


Chart: Allianz's monthly chart as at Nov 23, 2018_11.00 (Source: Malaysiastock.biz)

Conclusion

Based on satisfactory financial performance (which is breaking into new high) and fairly attractive valuation, Allianz remains a good stock for long-term investment.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Allianz: Earnings continued to rise

Result Update

For QE31/12/2015, Allianz's net profit increased by 10% q-o-q or 21% y-o-y to RM86 million while revenue increased by 3% q-o-q but declined 4% y-o-y to RM1.17 billion.

Revenue increased q-o-q due mainly to increase in gross earned premiums by RM28.3 million and higher investment income by RM6.8 million. PBT increased q-o-q  mainly to higher contribution from both insurance operations. PBT for general insurance operation rose by 16.1% or RM12.0 million to RM86.7 million due to one-off recognition of dis-allowance of GST input tax credit for certain motor claims since the implementation of GST on 1 April 2015. PBT for life insurance operation rose by 80.3% or RM17.9 million to RM40.2 million due to higher contribution from investment-linked business.


Table: Allianz's last 8 quarterly results

Allianz's net profit  for QE31/12/2015 has surpassed the previous high recorded in QE31/3/2014.


Chart 1: Allianz's last 40 quarterly results

Valuation

Allianz (closed RM9.93 last Friday) is now trading at a PE of 11 times (based on last 4 quarters' EPS of 90 sen). At this PE, Allianz is deemed fairly attractive.

Technical Outlook

Allianz is still in a long-term uptrend line with support at RM9.00. Its uptrend accelerated from mid-2012 to early 2014, culminated with a Triple Top reversal. This brought the stock down to just below the RM10.00 psychological level. Provided the share price stays above the RM9.00 mark, Allianz's long-term uptrend is intact.


Chart 2: Allianz's monthly chart as at Feb 26, 2016 (Source: ShareInvestor)

Conclusion

Based on satisfactory financial performance and fairly attractive valuation, Allianz remains a good stock for long-term investment.

Note: 
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Allianz.