AEG - AEGON reports Q4 results; initiates FY23 guidance

• AEGON press release ( NYSE: AEG ): Q4 net loss of  €2.4 billion.
• Operating result of €488 million, a 4% increase compared with 4Q21.
• The capital ratios of all three main units remain above their respective operating levels. Group Solvency II ratio amounts to 208%.
• Cash Capital at Holding increases from €1.4 billion to €1.6 billion, mainly from €318 million of free cash flow in 4Q22.
• Full year free cash flow increases from €729 million in 2021 to €780 million in 2022.
• Outlook for 2023: Aegon provides the following outlook for 2023 based on the current market circumstances and barring unforeseen circumstances: At least €1.0 billion operating capital generation before holding funding and operating expenses, which excludes the contribution from Aegon the Netherlands; Around €600 million of free cash flow, which excludes remittances from Aegon the Netherlands and includes an anticipated interim dividend to be received on Aegon’s strategic shareholding in a.s.r.; and a dividend of around 30 eurocents per common share over 2023.

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