Business Context and Reporting Period
This Form 6-K filing by UBS Group AG, dated May 7, 2024, provides consolidated capitalization data as of March 31, 2024. The financial statements are prepared in accordance with IFRS Accounting Standards and presented in US dollars. This report supplements the annual report on Form 20-F for the year ended December 31, 2023, and the first quarter 2024 report.
Key Financial Metrics
The filing focuses on capitalization structure rather than operational performance metrics such as revenue, profit, or cash flow.
| Capitalization Item (USD millions) | As of March 31, 2024 | As of December 31, 2023 |
|---|---|---|
| Short-term debt issued | 96,331 | 105,690 |
| Long-term debt issued | 246,726 | 260,416 |
| Total debt issued | 343,056 | 366,106 |
| Equity attributable to shareholders | 85,260 | 86,108 |
| Equity attributable to non-controlling interests | 506 | 531 |
| Total capitalization | 428,823 | 452,745 |
Debt Composition: As of March 31, 2024, 90% of total debt issued was unsecured. Specific portions of long-term debt are eligible as high-trigger loss-absorbing additional tier 1 capital instruments ($12,021 million), low-trigger loss-absorbing additional tier 1 capital instruments ($1,217 million), and non-Basel III-compliant tier 2 capital instruments ($537 million).
Material Changes Versus Prior Period
- Total Debt: Decreased by $23,050 million from $366,106 million to $343,056 million.
- Short-term Debt: Decreased by $9,359 million from $105,690 million to $96,331 million.
- Long-term Debt: Decreased by $13,690 million from $260,416 million to $246,726 million.
- Shareholder Equity: Decreased slightly by $848 million from $86,108 million to $85,260 million.
- Total Capitalization: Decreased by $23,922 million from $452,745 million to $428,823 million.
Guidance, Outlook, and Risks
This specific filing does not contain management commentary, forward-looking guidance, or a discussion of risks and contingencies. It serves primarily to update the capitalization table for incorporation into outstanding registration statements (Forms F-3 and S-8). Investors are directed to read this filing in conjunction with the annual report on Form 20-F and the first quarter 2024 report for broader context.
Key Facts for Investor Verification
- Verify the reduction in total debt of approximately $23 billion quarter-over-quarter.
- Confirm the composition of long-term debt eligible for regulatory capital treatment (Tier 1 and Tier 2 instruments).
- Note that 90% of the debt portfolio remains unsecured as of March 31, 2024.
- Review the referenced Form 20-F and Q1 2024 report for missing operational metrics (revenue, profit, cash flow) not included in this capitalization summary.