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Commerzbank AG — Earnings Release 2009
Nov 2, 2009
81_rns_2009-11-02_635297c3-2a27-4d8b-b063-1ad817d4de7d.html
Earnings Release
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News Details
Ad-hoc | 2 November 2009 16:50
Commerzbank AG:
Commerzbank AG / Quarter Results/Final Results
02.11.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Pre-announcement from Commerzbank regarding Q3 2009 reporting:
Commerzbank's operating result in Q3 2009 is positive at approximately EUR
120 m. The result of the Portfolio Restructuring Unit profited from
impairment gains. A review of goodwill led to write-downs of approximately
EUR 650 m.
The goodwill impairments largely result from the previously announced
strategic reorientation of Eurohypo and the subsequent changes in revenue
expectations. They became necessary with the new segment structure.
In Q3 the goodwill impairments and the planned restructuring expenses for
the Dresdner Bank integration (EUR 0.9 bn) led to a net profit of minus EUR
1.05 bn.
The core capital ratio (Tier 1) as of 30.9.2009 is just under 11%.
There are no changes to the targets of the 'Roadmap 2012'.
For the 2009 business year for both Commerzbank AG und Group a negative
annual result (net loss) is expected. In case of a net loss at the AG, the
liquidation of reserves or special reserves (Sonderposten according to §
340g German Commercial Code) for the granting of profit-related payments on
equity related instruments is not permitted further to EU regulations and
further to the agreements with the SoFFin. In this case profit-related
equity instruments may not be serviced.
For the Profit Participation Certificates of Commerzbank AG, predominantly
held by retail investors, this means that no coupon payment can be expected
for the year 2009. Insofar as necessary and legally permitted, Commerzbank
will liquidate reserves and special reserves (Sonderposten according to §
340g German Commercial Code) for the fiscal year 2009 in order to prevent a
reduction in the book value of its equity related instruments.
The following Profit Participation Certificates of Commerzbank AG are
traded and listed on a regulated market:
Nominal Amount Coupon Maturity Redemption ISIN Listing
EUR 150.000.000 6.375% 31.12.2009 01.07.2010 DE0008164062 Frankfurt
EUR 100.000.000 7.000% 31.12.2009 01.07.2010 DE0008164070 Frankfurt
EUR 320.000.000 6.375% 31.12.2010 01.07.2011 DE0008032053 Frankfurt
The quarterly statements will be published as scheduled on November 5,
2009.
Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
[email protected]
02.11.2009 Financial News transmitted by DGAP
Language: English
Company: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Deutschland
Phone: +49 (069) 136 20
Fax: -
E-mail: [email protected]
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Hannover, Düsseldorf, Hamburg, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, SWX
End of News DGAP News-Service