As announced on July 22, due to continued deteriorating financial market conditions and a weakened US dollar, AEGON expects its full year 2002 earnings to be 30% to 35% lower compared to the 2001 earnings. This outlook is based on information from the second quarter and barring unforeseen financial market circumstances. The forecast includes an average EUR/USD rate for the full year of EUR 0.95.
ChairmanÂ'Â's statement
AEGON’s Executive Board Chairman, Donald J. Shepard said:
'Nearly three weeks ago we issued the first profit warning in AEGON’s history. We believe this was a necessary and prudent action, which was reflective of unprecedented adverse developments in the financial markets. Most importantly, however, our core business remains strong with generally positive new business development. I would like to emphasize that, without these adverse financial market developments, we would have been slightly ahead of our initial forecast.'
For more information please visit www.aegon.com.
(source: Aegon)
