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Baader Bank AG — Earnings Release 2010
Feb 23, 2011
4539_rns_2011-02-23_674d2953-c266-4321-8e00-8453d32b5aac.html
Earnings Release
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News Details
Corporate | 23 February 2011 08:00
Baader Bank AG: Provisional group results for 2010 in accordance with IFRS
Baader Bank AG / Key word(s): Final Results/Preliminary Results
23.02.2011 / 08:00
Despite a strong final spurt in the fourth quarter, Baader Bank AG was unable in 2010 to match the previous year's annual results. Profit after tax for the year under review fell by 10.5% to EUR 16.2 million, of which EUR 7.7 million was achieved in the final quarter alone. 'Our comeback in the fourth quarter is above all due to the rise in share prices and the associated growth in sales on the markets', says Uto Baader, the Chairman of the Board of Directors of Baader Bank.
The bank saw its profit from ordinary activities drop by 21.9% to EUR 18.5 million in 2010. Profit after tax corresponded to earnings per share of EUR 0.36 (previous year: EUR 0.40). A dividend of EUR 0.12 (previous year: EUR 0.13) is to be proposed to shareholders at the Annual General Meeting on 30 June 2011. This is to be paid from the tax deposit account.
Net trading income for the year under review amounted to EUR 63.7 million (down 16.0%), of which the fourth quarter alone accounted for EUR 19.0 million. Net fee and commission income fell by 4.4% to EUR 34.5 million. Thanks to the expansion of the deposit business, a significant increase of 80.0% to EUR 5.4 million was achieved in net interest income for the first time. Administrative expenses were reduced to EUR 87.2 million, a drop of 2.4%. Profit from operations fell by 26.1% to EUR 17.3 million.
Equity at the end of last year amounted to EUR 174.0 million (previous year: EUR 177.6 million). As at the reporting date, 389 staff (previous year: 343) were employed at the Group.
| Key figures in EUR million | 2010 | 2009 |
| Net interest income | 5.4 | 3.0 |
| Net fee and commission income | 34.5 | 36.1 |
| Net trading income | 63.7 | 75.8 |
| Administrative expenses | 87.2 | 89.3 |
| Profit from operations | 17.3 | 23.4 |
| Profit from ordinary activities | 18.5 | 23.7 |
| Profit after tax | 16.2 | 18.1 |
The Board of Directors
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Publisher:
Baader Bank Aktiengesellschaft
Contact: Thomas Spengler
Weihenstephaner Str. 4
85716 Unterschleißheim
Tel. +49 (0) 89 5150 1030
Fax +49 (0) 89 5150 29 1030
www.baaderbank.de
End of Corporate News
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| Language: | English |
| Company: | Baader Bank AG |
| Weihenstephaner Str. 4 | |
| 85716 Unterschleissheim | |
| Deutschland | |
| Phone: | +49 (0)89/ 5150-0 |
| Fax: | +49 (0)89/ 5150-291030 |
| E-mail: | [email protected] |
| Internet: | www.Baaderbank.de |
| ISIN: | DE0005088108 |
| WKN: | 508810 |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München (m:access), Stuttgart; Open Market in Frankfurt |
| End of News | DGAP News-Service |
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| 113079 23.02.2011 |