JDC Group AG

Earnings Release • Nov 30, 2009

News Details

Corporate | 30 November 2009 08:00

ARAGON AG: Significant increase in revenues to EUR 17.5 million – up 22 percent compared to previous quarter

ARAGON AG / Miscellaneous

30.11.2009

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

• Significant increase in revenues to EUR 17.5 million - up 22 percent
  compared to previous quarter

• EBITDA at EUR 167 tsd. above that of same quarter of previous year

• Positive outlook for year-end business due to increasing sales and
  lower fixed costs

Despite continued difficult market conditions for the sale of financial
products,

Aragon AG, one of the leading financial services companies in the
German-speaking markets, was able to significantly increase its revenues to
EUR 17.5 million in the third quarter of 2009, up by 22 percent compared to
the previous quarter (Q2 2009: EUR 14.3 million). Earnings before interest
and taxes (EBIT) improved in the third quarter 2009 to EUR -0.19 million
from EUR -0.21 million in Q3 2008. EBITDA in the third quarter 2009 is
positive at EUR 0.17 million (Q3 2008: EUR 0.11 million).

'We are very satisfied with the development in the third quarter of 2009.
We have successfully continued the turnaround already under way in the
second quarter. Through intelligent inorganic growth and strict cost
discipline initiated early on, we have returned to growth and profitability
faster than our competitors,' explains Wulf Schuetz, COO of Aragon AG.

Performance of the business divisions

The Broker Pools business division, the largest source of sales in the
Aragon Group, achieved revenues of EUR 14.9 million in the third quarter of
2009, thus reaching an increase of 25.2 percent compared to EUR 11.9
million in the previous quarter. Revenues are 19.9 percent lower compared
to the third quarter of 2008. The reasons lie in the restrained sale of
closed-end funds (BIT Treuhand AG), which could not be compensated for even
by strong increase in revenues due to the placement of insurance products
(Q3 2009: EUR 5.79 million vs. Q3 2008: EUR 3.89 million). EBIT in the
third quarter is positive at EUR 0.04 million (Q3 2008: EUR 0.07 million).
EBITDA compared year-on-year even improved from EUR 0.34 million in Q3 2008
to EUR 0.37 million in Q3 2009.

In the Financial Consulting business division, the Compexx Finanz Group was
actually able to hold its own relatively well compared to the market, with
a relatively stable revenues of EUR 2.4 million in the third quarter
compared to the previous year (Q3 2008: EUR 2.6 million). Due to
non-recurrent effects as a result of cancellations, the business division
ended the third quarter with a slightly negative EBIT of EUR -0.08 million
(Q3 2008: EUR 0.41 million). At EUR -0.06 million, EBITDA in Q3 2009 is
also only slightly negative (Q3 2008: EUR 0.43 million). It is to be
assumed that the Financial Consulting business division in the fourth
quarter of 2009 will again close with a clearly positive result.

The Institutional Sales business division also developed satisfactorily in
view of the financial crisis. Sales revenues of the third quarter at EUR
0.24 million are thus slightly below the revenues of the comparable period
of the previous year (Q3 2008: EUR 0.49 million). EBIT in the third quarter
2009 is positive at EUR 0.002 million (Q3 2008: EUR 0.23 million), just
like the EBITDA at EUR 0.008 million (Q3 2008: EUR 0.24 million).

The development of the biw Bank für Investments und Wertpapiere AG (biw)
held at-equity in the Holding business division continues to be very
satisfying. biw experienced another surge in growth in the third quarter
2009, and is servicing over 100,000 accounts for the first time in company
history. In comparison to the previous quarter, biw was able to increase
the number of administrated accounts by 10.5 percent to 101,112 (Q2 2009:
91,541). And compared to the end of 2008, the number of administrated
accounts has actually increased by 44.4 percent (December 2008: 70,032).
The security orders processed by biw, amounting to 1.13 million in Q3 2009,
are also above the level of the previous year (1.09 million). The constant,
and in this quarter accelerated, growth by biw impressively demonstrates
the superiority of its business model compared to that of other online
banks.

Together with Aragon AG, which is also represented in the Holding business
division, the positive development of biw leads to an EBIT amount of EUR
-0.15 million (Q3 2008: EUR -0.93 million) and an EBITDA of EUR -0.15
million (Q3 2008: EUR -0.90 million).

Positive outlook for year-end business

Dr. Sebastian Grabmaier, CEO of Aragon AG argues, 'The fourth quarter is
traditionally the strongest quarter of the year for a distributor. Our good
point of departure will lead to us being able to increase revenues and
performance in the fourth quarter 2009 in comparison to the previous
quarter. Our goal is to end this difficult year, with a financial market
crisis of historical proportions, with a positive EBITDA. For 2010 we have
created a good foundation for the return to profitable steady growth.'

The quarterly report can be downloaded from the company's website at
www.aragon.ag.

Results of the fiscal year 2009 are planned to be released on 29 March
2010.

About Aragon AG

Aragon is a broadly diversified financial services company, with the
divisions: Broker Pools, Financial Consulting, Institutional Sales and
Holding. Aragon is active in the marketplace with multiple independent
subsidiaries. The company's aim is to integrate various distribution models
under one roof, without disturbing the individual identity of each sales
company. The result is a wide diversification across various asset classes
and distribution types, which generates a high stability in corporate
earnings. Further information about the company and its subsidiaries can be
viewed on the website www.aragon.ag.

Contact:
Aragon Aktiengesellschaft

Ralf Funke
Investor Relations
Tel.: +49(0)611 890 575-0
Fax: +49(0)611 890 575-99
E-Mail: ir@aragon.ag

30.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

---