Baader Bank AG — Earnings Release 2003

Apr 14, 2003

News Details

Ad-hoc | 14 April 2003 09:25

Baader Wp.handelsbank AG english

Preliminary consolidated earnings for Q1 2003 (IAS) Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Preliminary consolidated earnings for Q1 2003 (IAS) Unterschleißheim, April 14, 2003 Earnings from ordinary activities of Baader Wertpapierhandelsbank AG in Q1 2003 amount to EUR-2.4 million (previous year: EUR-1.7 million). Compared with Q4 2002 (earnings from ordinary activities: EUR-17.2 million) earnings improved substantially by 86%. Administrative expenses dropped further by 5% to EUR9.4 million (previous year: EUR9.8 million). Baader Wertpapierhandelsbank AG consolidated for the first time in Q1 2003 the newly acquired companies Gebhard & Schuster Wertpapierhandelshaus AG and Spütz Börsenservice GmbH. On the balance sheet date, the Group had 213 employees (previous year: 211 employees). The Executive Board end of ad-hoc-announcement (c)DGAP 14.04.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: In 2003, Baader Wertpapierhandelsbank AG will continue to focus on increasing its market share in share trading and establishing its bond and derivatives trading business. The acquisitions made in the first three months of fiscal year 2003 are testimony to this. As in previous years, administrative expenses will be reduced further, although development of technological processes and systems will continue. Despite the difficult market environment, the Executive Board expects the result to increase substantially in fiscal year 2003. More information is available in the press conference today. ************************* Issued by: Baader Wertpapierhandelsbank AG Contact: Nico Baader Weihenstephaner Str. 4 85716 Unterschleißheim Germany Tel. +49 (0)89/ 5150-1030 Fax +49 (0)89/ 5150-2424 Nico.Baader@Baaderbank.de http://www.Baaderbank.de ——————————————————————————– WKN: 508810; ISIN: DE0005088108; Index: Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (Prime Standard), München und Stuttgart; Freiverkehr in Düsseldorf, Hamburg und Hannover 140925 Apr 03