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DF Deutsche Forfait AG — Earnings Release 2009
Nov 9, 2009
115_rns_2009-11-09_d09246a1-2720-41c8-8c6f-56b5115a2031.html
Earnings Release
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Ad-hoc | 9 November 2009 07:50
DF Deutsche Forfait AG releases preliminary figures for the first nine months of 2009
DF Deutsche Forfait AG / Quarter Results
09.11.2009
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.
DF Deutsche Forfait AG releases preliminary figures for the first nine
months of 2009
- Further stabilisation of market environment
- Consolidated profit of EUR 2.5 million reached
- Gross result of EUR 9.9 million generated
- Forfaiting margin remains significantly above the prior-year level at
2.3%
Cologne, 9 November 2009 - DF Deutsche Forfait AG (ISIN: DE0005488795) is
releasing its preliminary figures for the first nine months of 2009 today.
Business developments in the current year continue to be defined by market
distortions caused by the financial and economic crisis, even though market
conditions have been steadily recovering since the beginning of the year -
especially on the placement side.
DF Deutsche Forfait AG generated consolidated profit of EUR 2.5 million in
the first nine months (prior year EUR 4.5 million). The decline of
consolidated profit also reflects the cautious business policies that focus
on risk avoidance. This has caused a reduction in trade accounts and other
receivables from EUR 149.0 million to EUR 97.1 million compared to the same
period in the prior year. At the same time, the forfaiting volume fell
from EUR 730.9 million in the prior year to EUR 435.9 million this year.
During the same period, the forfaiting margin improved from 1.6% to 2.3%
which helped offset a good portion of decrease in volume. The gross result
including financial results, which is the key figure for evaluating success
in the forfaiting business, is at EUR 9.9 million compared to EUR 11.9
million in the prior year.
For 2009 as a whole, the company expects a significant positive
consolidated profit at a reduced forfaiting volume and higher margins
compared to the prior year.
About DF Group
The main business activities of DF Group are the purchase and sale of
selected export receivables in emerging markets on a non-recourse basis.
The objective is to sell the acquired receivables at the same time or in
the short term. Forfaiting is an increasingly important tool in export
financing, with volumes rising in line with the continuing advance of
globalization. Creating tradable products from receivables benefits both
exporters and buyers. As well as transferring risk to the buyer, the main
benefit of forfaiting for exporters is the inflow of cash. This relieves
the exporters' credit lines and improves their balance sheet structure. DF
Deutsche Forfait AG structures receivables attractively, so that investors
seek them as a type of investment.
DF Deutsche Forfait AG
Christoph Charpentier
Kattenbug 18 - 24
50667 Cologne
T +49 221 97376-37
F +49 221 97376-60
E [email protected]
http://www.dfag.de
09.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: DF Deutsche Forfait AG
Kattenbug 18-24
50667 Köln
Deutschland
Phone: +49 (0)221 - 973 76 0
Fax: +49 (0)221 - 973 76 76
E-mail: [email protected]
Internet: www.dfag.de
ISIN: DE0005488795
WKN: 548879
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service