Erste Bank JPMorgan Merrill Lynch International

CONSOLIDATED INCOME STATEMENT FOR THE PERIOD FROM 1 JANUARY 2005 TO
31 DECEMBER 2005
in EUR ’000
Notes 1.1.-31.12.2005 1.1.-31.12.2004
Premiums ........................................ 26
Premiums written — Total ........................ 5,007,835 4,101,378
Premiums written — Reinsurers’ share . . . . . . . . . . . . . . . �732,199 �646,811
Premiums written — Retention .................... 4,275,636 3,454,567
Change due to provisions for premiums — Total . . . . . . . . �55,881 �7,789
Change due to provisions for premiums — Reinsurers’
share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,117 556
Earned premiums .............................. 4,240,872 3,447,334
Financial result .................................... 28
Income from capital assets . . . . . . . . . . . . . . . . . . . . . . . . 828,147 685,333
Expenses for capital assets and interest . . . . . . . . . . . . . . �234,287 �238,910
Total financial result ............................ 593,860 446,423
Other income ..................................... 29 46,264 34,349
Expenses for insurance claims ....................... 30
Expenses for insurance claims — Total . . . . . . . . . . . . . . . �3,986,792 �3,191,205
Expenses for insurance claims — Reinsurers’ share . . . . . 368,380 312,959
Total expenses for insurance claims ............... �3,618,412 �2,878,246
Operating expenses ................................ 31
Acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �798,575 �689,871
Other operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . �266,682 �235,665
Reinsurance commissions . . . . . . . . . . . . . . . . . . . . . . . . . 173,467 154,004
Total operating expenses ........................ �891,790 �771,532
Other expenses. ................................... 32 �142,025 �124,860
Income from shares in associated and affiliated
companies ...................................... 27 11,567 2,440
Profit before taxes ................................. 240,336 155,908
Tax expense ...................................... 33 �41,599 �34,356
Net income for the period ........................... 198,737 121,552
Attributable to Wiener Städtische shareholders . . . . . . . . . 196,977 120,952
Minority interests in net income for the period . . . . . . . . . . 1,760 600
Earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
basic = diluted earnings per share (in EUR) . . . . . . . . . . . . 2.27 1.41
F-162