DF Deutsche Forfait AG — Earnings Release 2010

Nov 12, 2010

News Details

Ad-hoc | 12 November 2010 11:08

DF Deutsche Forfait AG publishes preliminary Q3 results and lowers guidance

DF Deutsche Forfait AG / Key word(s): Preliminary Results

12.11.2010 11:08

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.

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DF Deutsche Forfait AG publishes preliminary Q3 results and lowers guidance

• Forfaiting volume up on the previous year but below expectations
• Forfaiting market not yet benefiting from economic upturn

Cologne, 12 November 2010 - In the first nine months of 2010, DF Deutsche
Forfait AG generated a consolidated profit of EUR 2.0 million (previous
year: EUR 2.5 million). This figure falls short of the pro rata planning
for the full year 2010. For the current year, the Board of Management
continues to expect a clearly positive result, which however will come in
significantly below the forecast of EUR 4.2 million published in April.

The forfaiting business and therefore gross result including financial
results did not develop as planned. The main reason for this was the
forfaiting volume rising by just 11% to EUR 485.3 million in the first nine
months of the year, a figure that is considerably below expectations. At
the same time, the forfaiting margin dropped from 2.3% to 1.9%, following
the anticipated trend. Overall, the gross result including financial
results fell by EUR 0.6 million to EUR 9.3 million.

This development contradicts the record results announced by the German
export industry in the current year. However, DF Deutsche Forfait AG
usually generates the majority of its forfaiting volume abroad. Regions
important to the company such as Mexico have not yet benefited from the
global economic upturn to the extent previously expected.

DF Deutsche Forfait AG adjusted its sales structure due to the fundamental
changes in the market after the financial crisis. The company established a
new unit for the secondary market only, which focuses on maintaining and
expanding networks of banks and forfaiting companies, essential for the
placement of receivables. In addition, the controlling of the sales units
and the marketing activities in the regional markets are being improved. DF
Deutsche Forfait AG expects that these measures will help it achieve its
target of significant growth in forfaiting volume and profit.

As previously announced, the complete Interim Report Q3 2010 will be
available online on 22 November 2010.

DF Deutsche Forfait AG
Christoph Charpentier
Kattenbug 18 - 24
50667 Cologne
Phone: +49 221 97376-37
Fax: +49 221 97376-60
E-mail: investor.relations@dfag.de
http://www.dfag.de

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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: dfag@dfag.de
Internet: www.dfag.de
ISIN: DE0005488795
WKN: 548879
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Düsseldorf, Berlin, Stuttgart

End of Announcement DGAP News-Service

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