UBS publishes 2023 Annual Report and Sustainability Report

Rhea-AI Summary

UBS (NYSE:UBS) releases its Annual Report for 2023, showing a net profit of USD 27.8 billion, down from USD 29 billion in the previous year. Diluted earnings per share decreased to USD 8.45, and the CET1 capital ratio dropped to 14.4% from 14.5%. The report includes details on the acquisition of Credit Suisse, sustainability initiatives, and decarbonization targets.

ZURICH & BASEL, Switzerland--(BUSINESS WIRE)-- Regulatory News:

Ad hoc announcement pursuant to Article 53 LR.

UBS (NYSE:UBS) (SWX:UBSN) has published its Annual Report, presenting fully audited results for the year ending 31 December 2023. It provides comprehensive and detailed information on the firm, the acquisition of Credit Suisse, our strategy, business, governance and compensation, financial performance and risk, treasury and capital management, as well as on the regulatory and operating environment in 2023.

Following the publication of the unaudited fourth quarter 2023 financial report on 7 February 2024, we have refined our acquisition-date fair value estimates in accordance with the 12-month measurement period requirements provided by IFRS 3. This has resulted in an adjustment of USD 1.2 billion, decreasing the negative goodwill to USD 27.7 billion. Our net profit attributable to shareholders therefore was USD 27.8 billion for 2023, down from USD 29 billion. Diluted earnings per share decreased by USD 0.36 to USD 8.45. In addition, the CET1 capital ratio decreased to 14.4% from 14.5%.

The Sustainability Report provides details on UBS’s sustainability and impact strategy, including how the firm meets clients’ sustainable finance and investing needs. It also sets out our ambition to achieve net-zero greenhouse gas emissions across our scope 1 and 2, and specified scope 3 activities by 2050. Further, it provides details on our revised decarbonization targets, as well as our updated sustainability and climate risk policy framework, following the acquisition of Credit Suisse.

The reports, along with associated disclosures, are available at www.ubs.com/annualreporting. They are filed with the US Securities and Exchange Commission (Form 20-F for the Annual Report and Form 6-K for the Sustainability Report).

Credit Suisse AG, a company of UBS Group AG, also published its Annual Report 2023, which includes audited financial statements for the year ending 31 December 2023. The report can be found at www.credit-suisse.com/about-us/en/reports-research/annual-reports.html.

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UBS Group AG and UBS AG

Investor contact

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Americas: +1 212 882 57 34



Media contact

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Americas: +1-212-882 58 58

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www.ubs.com/media

Source: UBS Group AG

FAQ

What is UBS's net profit for 2023?

UBS's net profit for 2023 was USD 27.8 billion, down from USD 29 billion in the previous year.

How much did diluted earnings per share decrease by in 2023?

Diluted earnings per share decreased by USD 0.36 to USD 8.45 in 2023.

What is the CET1 capital ratio for UBS in 2023?

The CET1 capital ratio for UBS in 2023 decreased to 14.4% from 14.5%.

What are UBS's sustainability goals for 2050?

UBS aims to achieve net-zero greenhouse gas emissions across its scope 1 and 2, and specified scope 3 activities by 2050.

Where can the UBS Annual Report and Sustainability Report be accessed?

The reports, along with associated disclosures, are available at www.ubs.com/annualreporting and filed with the US Securities and Exchange Commission (Form 20-F for the Annual Report and Form 6-K for the Sustainability Report).