Baader Bank AG — Earnings Release 2003

Feb 17, 2004

News Details

Ad-hoc | 17 February 2004 15:14

Baader Wp.handelsbank AG: Preliminary consolidated earnings for 2003 (IAS)

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Preliminary consolidated earnings for 2003 (IAS) Unterschleissheim, February 17, 2004 Fiscal year 2003 was dominated by reorganization measures within the Group and the successful expansion of activities in its core business. This trend reversal is reflected by the impressive figures. Baader Wertpapierhandelsbank AG generated profit from ordinary activities of EUR 2.3 million (previous year: EUR -53.1 million) in 2003. This corresponds to earnings per share of EUR 0.10 (previous year: EUR -3.26). Despite integration costs of EUR 4.1 million for the acquisitions in 2003, administrative expenses fell slightly to EUR 39.9 million (previous year: EUR 40.4 million). Shareholders’ equity amounted to EUR 107.8 million (previous year: EUR 106.1 million) at the end of the year. At the balance sheet date, the Group had 165 employees (previous year: 186 employees); the number of order books managed rose from 10,964 to 26,841. Liquidation of KST Wertpapierhandels AG will not be continued Plan to sell KST AG shares The executive bodies of Baader Wertpapierhandelsbank AG, Unterschleissheim, have resolved not to further pursue the liquidation of KST Wertpapierhandels AG, but to sell its shares in the listed company KST AG instead. Among other matters, KST AG’s annual general meeting at the end of March will decide on the continuation of KST AG, capitalization measures, the name change, and new appointments to the Supervisory Board. Baader Wertpapierhandelsbank AG will relinquish its majority holding in KST Wertpapierhandels AG to a group of investors as a first step in implementing these measures. The Executive Board end of ad-hoc-announcement (c)DGAP 17.02.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Notes: In 2004, Baader Wertpapierhandelsbank will continue to focus on increasing its market share in specialist activities and on developing bond trading. The Executive Board expects earnings for fiscal year 2004 to increase on the back of the improved market environment. The new year started encouragingly; in January, securities trading generated the highest profits since June 2001. ************************* Published by: Baader Wertpapierhandelsbank AG Contact: Nico Baader Weihenstephaner Str. 4 85716 Unterschleissheim 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 171514 Feb 04