Ageas reported net losses in 2008 and 2011 but net profits in 2009 and 2010. In 2012, Ageas launched a 200 million euro share buy-back program using its 1.3 billion net cash position, as it forecasted future growth in shares and dividends.

1. Ageas
Deceuninck Dylan
2FV01

2. Table of contents
 Background
 Full year results
 Share buy-back program
 Forecast

3. Background
 Fortis failure
 Ageas born
 Increased inflows

4. Full year results
2008 : 28 billion negative
2009 : 465 million net profit ( share : 8 eurocent)
2010 : 223 million net profit ( share : 3.19 euro )
2011 : 578 million negative ( share : 3.23 euro )

5. Share buy-back program
 April 2012
 ABN AMRO
 200 million euro
 1.3 billion net cash position

6. Reeks 1
net profit 2008
net profit 2009
net profit 2010
net profit 2011
Reeks 1
net profit 2012
money
shares
-30 -20 -10 0 10

7. Forecast
Shares

8. Forecast
Dividend