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 April 27, 2018. The filing provides supplemental financial data for the quarter ended March 31, 2018, prepared in accordance with International Financial Reporting Standards (IFRS). It references the company's annual report on Form 20-F for the year ended December 31, 2017, and the first quarter 2018 report.
Key Financial Metrics
Capitalization (as of March 31, 2018)
| Item | CHF (Million) | USD (Million) |
|---|---|---|
| Short-term debt issued | 73,952 | 77,571 |
| Long-term debt issued | 80,319 | 84,249 |
| Total debt issued | 154,272 | 161,820 |
| Equity attributable to UBS AG shareholders | 50,788 | 53,273 |
| Equity attributable to non-controlling interests | 62 | 65 |
| Total capitalization | 205,121 | 215,159 |
Earnings and Fixed Charges (Quarter Ended March 31, 2018)
- Pre-tax earnings from continuing operations: CHF 1,769 million
- Total fixed charges: CHF 2,152 million (Interest expense: CHF 2,120 million; Other: CHF 33 million)
- Pre-tax earnings before fixed charges: CHF 3,921 million
- Ratio of earnings to fixed charges: 1.82
Note: The filing does not provide specific revenue, net profit, cash flow, or margin figures for the quarter.
Material Changes Versus Prior Period
- Debt Levels: Total debt issued remained relatively stable, increasing slightly from CHF 154,251 million as of December 31, 2017, to CHF 154,272 million as of March 31, 2018.
- Equity: Equity attributable to shareholders increased marginally from CHF 50,718 million (Dec 31, 2017) to CHF 50,788 million (Mar 31, 2018).
- Earnings Ratio: The ratio of earnings to fixed charges improved to 1.82 for the quarter ended March 31, 2018, compared to 1.63 for the full year ended December 31, 2017.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on future outlook, or a detailed discussion of risks and contingencies beyond standard regulatory disclosures. It notes that UBS AG redeemed its last outstanding preferred notes in December 2017, meaning no mandatory preferred share dividends were present in the periods analyzed.
Important Facts for Investor Verification
- Verify the full Q1 2018 revenue and net income figures in the separate Q1 2018 report referenced in this filing, as they are not included here.
- Confirm the impact of the CHF/USD exchange rate (CHF 1 = USD 1.04893 as of March 31, 2018) on the translated USD values presented.
- Review the annual Form 20-F for the year ended December 31, 2017, for comprehensive risk factors and detailed segment performance.
- Note that the "Ratio of earnings to fixed charges" is calculated based on earnings from continuing operations and excludes discontinued operations.