Baader Bank AG — Earnings Release 2004

Jul 13, 2004

News Details

Ad-hoc | 13 July 2004 13:23

Baader’s earnings after taxes hit EUR4.9 million in H1 2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Baader’s earnings after taxes hit EUR 4.9 million in H1 2004 Preliminary consolidated results for Q2 2004 (IFRSs) Unterschleissheim, July 13, 2004 In H1 2004, Baader Wertpapierhandelsbank AG’s net profit after taxes amounted to EUR 4.9 million, following a loss of EUR 0.5 million in the previous year. Ordinary income jumped by 119% to EUR 27.4 million, while administrative expenses increased only slightly by 10% to EUR 21.3 million. Profit from operations increased by over EUR 12 million to EUR 6.1 million. The cumulative profit from ordinary activities in H1 2004 amounted to EUR 6.6 million, as against a loss of EUR 0.4 million in the previous year. In Q2 2004, profit from ordinary activities rose slightly to EUR 2.3 million from EUR 2.1 million, up the previous year. Lower administrative expenses coupled with higher ordinary income increased profit from operations by EUR 3.8 million to EUR 1.9 million. Shareholders’ equity as of June 30, 2004 was EUR 112.9 million (December 31, 2003: EUR 107.7 million). Earnings per share were EUR 0.22 on the reporting date. The group employed a total of 186 people (June 30, 2003: 193 employees). In EUR million H1 2004 H1 2003 Q2 2004 Q2 2003 Ordinary income 27.4 12.5 11.4 8.1 Administrative expenses -21.3 -19.3 -9.5 -10.0 Profit/loss from operations 6.1 -6.8 1.9 -1.9 Profit/loss from ordinary activities 6.6 -0.4 2.3 2.1 Earnings after taxes 4.9 -0.5 1.9 2.3 The Executive Board end of ad-hoc-announcement (c)DGAP 13.07.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Following the takeover of Heribert Schollmeyer Wertpapierhandels GmbH and SMS – Sobota, Maier & Stopp Wertpapierhandels GmbH, Baader Wertpapierhandelsbank will continue to focus on increasing its market share in specialist activities, and on expanding its institutional fixed income agency business for both equities and fixed-income securities. The Executive Board expects to see an improvement in earnings for fiscal year 2004 on the back of the stable market environment. ************************* Published 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: SDAX Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (Prime Standard), München und Stuttgart; Freiverkehr in Düsseldorf, Hamburg und Hannover 131323 Jul 04