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DF Deutsche Forfait AG — Earnings Release 2009
Mar 4, 2010
115_rns_2010-03-04_40fe887a-f934-462b-af43-2c33a340cdeb.html
Earnings Release
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News Details
Ad-hoc | 4 March 2010 07:39
DF Deutsche Forfait AG generates consolidated profit of EUR 3.5 million in 2009
DF Deutsche Forfait AG / Preliminary Results
04.03.2010 07:39
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.
Ad hoc report in accordance with Section 15 of the Securities Trade Act
(WpHG)
Key figures
DF Deutsche Forfait AG generates consolidated profit of EUR 3.5 million in
2009
- Distinctly profitable despite the crisis
- Substantial increase in earnings anticipated for 2010
Cologne, 4 March 2010 - DF Deutsche Forfait AG generated consolidated
profit of EUR 3.5 million in the 2009 financial year based on preliminary
figures (previous year: EUR 5.8 million). Therefore the Company remained
profitable and achieved a preliminary return on equity of around 12%
despite the difficult operating conditions on the placement side and its
risk prevention policy.
The gross result including financial results, which is the key figure for
evaluating success in the forfaiting business, came in at EUR 14.0 million,
compared to EUR 16.1 million in the 2008 financial year. The forfaiting
margin, which is the gross result derived from the forfaiting volume,
improved from 1.9% in the previous year to 2.4% in 2009. As expected, the
forfaiting volume fell to EUR 576 million, compared to EUR 826 million in
the previous year.
Preliminary earnings per share came in at EUR 0.52 compared to EUR 0.85 in
2008, based on the current 6.8 million outstanding shares.
The Board of Management is anticipating a substantial increase in
consolidated profit for 2010 on the back of a sustained market recovery on
the placement side.
The Company will publish its complete consolidated financial statements and
2009 annual report on April 7, 2010.
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
04.03.2010 Ad hoc announcement, Financial News and Media Release 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