Baader Bank AG — Earnings Release 2014

Apr 30, 2014

News Details

Corporate | 30 April 2014 07:30

Baader Bank begins the new year with robust growth in net trading income

Baader Bank AG / Key word(s): Quarter Results

30.04.2014 / 07:30

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Baader Bank begins the new year with robust growth in net trading income

The Baader Bank Group has made a successful start to the new year. In the first quarter of 2014, the Bank achieved robust growth in net trading income, which increased by 61% to EUR16.2 million. This reflects the fact that the Bank was able to take advantage of the favourable opportunities offered by the markets over the past three months.

There was a considerable increase in net fee and commission income, which rose by more than 25% to EUR12.9 million. Almost all of this rise is attributable to the subsidiary Helvea, whose figures were not included in the previous year’s results.

Administrative expenses increased by EUR4.3 million, largely as a result of the integration of Helvea and higher levels of variable remuneration. As at 31 March 2014 the Baader Bank Group employed 478 staff (31 March 2013: 437).

Operating profit stood at just under EUR3.3 million (Q1 2013: EUR0.7 million). The fact that operating activities made a significant contribution to results is encouraging, given that the previous year’s results were largely attributable to rises in the value of securities and the realisation of these gains. Net profit after taxes for the three months to 31 March 2014 was EUR2.6 million (Q1 2013: EUR0.3 million).

Taking into account the fund for general banking risks, the Group’s total equity stood at EUR137.6 million as at 31 March 2014 (31 December 2013: EUR135.4 million). The equity ratio at the end of the period was 17.8%.

Outlook:

The cost of implementing the numerous regulatory requirements and the integration of Helvea continue to have a negative impact on the Group’s results. Nevertheless, current expectations for this year are that net profit after taxes will increase appreciably compared with the previous year, provided there are no extraordinary unforeseen events (such as the crisis in Ukraine) that might have a negative impact on profitability.

The 2013 annual report and the interim report for the first quarter of 2014 will be available on our website within the next few days ( financial statements , quarterly report ).

Key figures in EUR million	Q1 2014	Q1 2013
Net interest income	0.9	0.9
Current income	0.3	0.1
Net fee and commission income	12.9	10.2
Net trading income	16.2	10.0
Administrative expenses	-28.9	-24.6
Other income	2.5	3.0
Loan loss provisions	-0.5	0.9
Operating result	3.3	0.7
Net profit after taxes	2.6	0.3

End of Corporate News

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Language:	English
Company:	Baader Bank AG
	Weihenstephaner Str. 4
	85716 Unterschleißheim
	Germany
Phone:	+49 89 5150 1882
Fax:	+49 89 5150 29 1880
E-mail:	communications@baaderbank.de
Internet:	www.baaderbank.de
ISIN:	DE0005088108
WKN:	508810
Listed:	Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München (m:access), Stuttgart; Frankfurt in Open Market

End of News	DGAP News-Service

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