Business Context and Reporting Period
This Form 6-K filing by UBS Group AG and UBS AG, dated February 28, 2020, provides supplemental capitalization data for the period ended December 31, 2019. The registrants are Swiss-based financial institutions reporting under International Financial Reporting Standards (IFRS) in US dollars. This document serves as an update to the annual report on Form 20-F filed on the same date.
Key Financial Metrics
The filing details the consolidated capitalization of UBS AG as of December 31, 2019, and September 30, 2019. Revenue, profit, cash flow, and margin data are not included in this specific filing.
| Capitalization Item (USD Million) | Dec 31, 2019 | Sep 30, 2019 |
|---|---|---|
| Short-term debt issued | 61,255 | 69,941 |
| Long-term debt issued | 68,172 | 66,507 |
| Total debt issued | 129,427 | 136,449 |
| Equity attributable to UBS AG shareholders | 53,754 | 54,613 |
| Equity attributable to non-controlling interests | 174 | 163 |
| Total capitalization | 183,355 | 191,225 |
Material Changes
- Debt Reduction: Total debt issued decreased by approximately $7.0 billion (from $136.4 billion to $129.4 billion) between September 30, 2019, and December 31, 2019.
- Short-term Debt: Short-term debt declined significantly by $8.7 billion, dropping from $69.9 billion to $61.3 billion.
- Long-term Debt: Long-term debt increased slightly by $1.7 billion, rising from $66.5 billion to $68.2 billion.
- Equity: Total equity attributable to shareholders decreased by $859 million, while non-controlling interests increased by $11 million.
Guidance, Outlook, and Risks
This filing does not contain management commentary, forward-looking guidance, or specific risk factors. It is a procedural filing incorporating capitalization data by reference into various registration statements (Forms F-3, F-4, S-8) and prospectuses. Investors are directed to read this information in conjunction with the full annual report on Form 20-F for the year ended December 31, 2019.
Key Facts for Investor Verification
- Verify the full annual report on Form 20-F for comprehensive revenue, profit, and cash flow metrics not present in this 6-K.
- Confirm the composition of the $61.3 billion short-term debt to assess immediate liquidity obligations.
- Review the Form 20-F for details on the $859 million reduction in shareholder equity.
- Check the referenced registration statements (e.g., 333-225551) for how this capitalization data impacts outstanding securities offerings.