Business Context and Reporting Period
This Form 6-K filing by UBS Group AG, dated March 28, 2024, addresses the unaudited pro forma condensed combined financial information for the fiscal year ended December 31, 2023. The filing is required under Rule 3-05 and Article 11 of Regulation S-X to reflect the merger with Credit Suisse Group AG, which was completed on June 12, 2023.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It serves as a cover document incorporating Exhibit 99.1, which contains the unaudited pro forma condensed combined income statement. The pro forma data is derived from UBS's audited consolidated income statement for the year ended December 31, 2023, and Credit Suisse's unaudited historical condensed consolidated income statement for the five-month period ended May 31, 2023.
Material Changes
The primary material change addressed is the consolidation of Credit Suisse Group AG into UBS Group AG following the June 12, 2023 merger. The pro forma information is presented to illustrate the combined financial position as if the merger had occurred on January 1, 2023, though the filing explicitly states this does not reflect actual historical results for that date.
Guidance, Outlook, and Risks
The filing explicitly states that the pro forma financial information is for illustrative purposes only. It does not project the results of operations or the financial position of UBS Group AG for any future date or period. No specific management commentary, forward-looking guidance, or detailed risk factors are included in the text of this specific Form 6-K cover page.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific unaudited pro forma condensed combined financial figures.
- Verify the assumptions used to combine UBS's full-year 2023 audited data with Credit Suisse's five-month 2023 unaudited data.
- Confirm that the pro forma data is not intended to represent actual historical performance as of January 1, 2023.
- Check subsequent filings for updated liquidity and debt metrics post-merger integration.