Baader Bank AG — Earnings Release 2008

Jul 16, 2008

News Details

Corporate | 16 July 2008 13:44

Baader Wertpapierhandelsbank AG: Baader operates in the black despite financial crisis

Baader Wertpapierhandelsbank AG / Half Year Results

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Baader Wertpapierhandelsbank AG, Unterschleissheim (Germany), has concluded
Q2 2008 with a profit, despite increasingly difficult conditions on the
international stock markets. From April to June of this year, Germany’s
leading securities trading bank generated net profit after taxes of EUR 0.5
million, down from EUR 5.3 million in the same period of the previous year.
Profit for the first half of the year thus amounted to EUR 6.3 million
(previous year: EUR 14.0 million). Profit from ordinary activities
decreased to EUR 0.3 million in Q2 2008 (previous year: EUR 7.1 million).

In Q2 2008 the uncertain situation on the capital markets was reflected in
both net fee and commission income, which fell to EUR 8.8 million (previous
year: EUR 11.5 million), and in net trading income, which declined to EUR
9,8 million (previous year: EUR 12.6 million).

'It is thanks to our diversification strategy that we are operating in the
black despite the turbulent situation on the stock markets,' commented Uto
Baader, Chairman of the Board of Directors. According to the Chairman, both
the strict risk management and the Group’s broad setup proved their worth
in the crisis and helped to limit the impact of the general financial
crisis on Baader. The company trades in all tradable financial instruments,
such as equities, securitised derivatives, bonds, commodities, futures and
options, as well as investment and hedge funds and is therefore widely
diversified. In addition, Baader has developed high-quality complementary
services in all areas of the securities business.

'Our strategy continues to be to broaden the Group by investing in our core
business counter-cyclically and opening up new business areas that have an
affinity to securities trading,' added Baader.

                                            H1    H1        Q2    Q2

Key figures (EUR million) 2008 2007 2008 2007
Net fee and commission income 18.9 25.2 8.8 11.5
Net trading income 25.9 29.8 9.8 12.6
Net income from available-for-sale financial
instruments/net income from companies carried
at equity 0.7 1.4 0.6 0.3
- - - -
Administrative expenses 41.1 38.6 19.5 18.2
Profit from operations 4.8 18.2 -0.2 6.6
Profit from ordinary activities 5.7 18.9 0.3 7.1
Net profit after taxes 6.3 14.0 0.5 5.3

At the end of the first half of the year, Baader managed 13,590 order books
related to equities. Securitised derivatives such as warrants, certificates
and ETFs accounted for 239,532 of these order books; bonds and
participation certificates accounted for 10,795 and actively managed funds
accounted for 2,322. In addition to this, a further 51,537 order books came
from DBM Deutsche Börsenmakler GmbH, which merged with Baader
Wertpapierhandelsbank AG on 16 June with retroactive effect to 1 January
2008. The Baader Group thus managed a total of 317,776 order books as at 30
June 2008, which corresponds to growth of 135% compared with the same
period of the previous year.

Contact:

Thomas Spengler

Head of Corporate Communications

Baader Wertpapierhandelsbank AG

Weihenstephaner Strasse 4

85716 Unterschleissheim

Tel: +49 (0) 89 5150 1030

Mobile: +49 (0) 160 7188830

E-mail: Thomas.Spengler@Baaderbank.de

http://www.Baaderbank.de

16.07.2008 Financial News transmitted by DGAP

Language: English
Issuer: Baader Wertpapierhandelsbank AG
Weihenstephaner Str. 4
85716 Unterschleissheim
Deutschland
Phone: +49 (0)89/ 5150-0
Fax: +49 (0)89/ 5150-1111
E-mail: Info@Baaderbank.de
Internet: www.Baaderbank.de
ISIN: DE0005088108
WKN: 508810
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Stuttgart, München; Freiverkehr in Hamburg, Düsseldorf

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