Business Context and Reporting Period
This Form 6-K is a report of foreign private issuer filed by UBS Group AG and UBS AG on May 4, 2020. The filing provides consolidated capitalization data as of March 31, 2020, prepared in accordance with International Financial Reporting Standards (IFRS) in US dollars. It references the annual report on Form 20-F for the year ended December 31, 2019, and the first quarter 2020 report.
Key Financial Metrics
The filing details the consolidated capitalization structure but does not provide revenue, profit, cash flow, or margin data.
| Capitalization Item (USD Million) | As of March 31, 2020 | As of December 31, 2019 |
|---|---|---|
| Short-term debt issued | 63,714 | 61,255 |
| Long-term debt issued | 55,805 | 68,172 |
| Total debt issued | 119,519 | 129,427 |
| Equity attributable to UBS AG shareholders | 57,814 | 53,754 |
| Equity attributable to non-controlling interests | 169 | 174 |
| Total capitalization | 177,503 | 183,355 |
Material Changes Versus Prior Period
- Total Debt: Decreased by $9,908 million from $129,427 million to $119,519 million.
- Long-term Debt: Decreased significantly by $12,367 million, dropping from $68,172 million to $55,805 million.
- Short-term Debt: Increased by $2,459 million, rising from $61,255 million to $63,714 million.
- Shareholder Equity: Increased by $4,060 million, rising from $53,754 million to $57,814 million.
- Total Capitalization: Decreased by $5,852 million, falling from $183,355 million to $177,503 million.
Guidance, Outlook, and Risks
This specific filing text does not contain management commentary, forward-looking guidance, risk factors, or details on contingencies. It serves primarily to update capitalization figures and incorporates by reference other registration statements and prospectuses. Investors are directed to the separate first quarter 2020 report for operational details.
Key Facts for Investor Verification
- Verify the full Q1 2020 earnings report for revenue, net income, and cash flow data, as this filing only covers capitalization.
- Confirm the drivers behind the $12.4 billion reduction in long-term debt versus the increase in short-term debt.
- Review the referenced Form 20-F (filed Feb 28, 2020) and the separate Q1 2020 Form 6-K for comprehensive risk disclosures and management outlook.
- Note that equity attributable to shareholders increased despite a reduction in total capitalization, indicating a shift in the debt-to-equity mix.