DF Deutsche Forfait AG

Earnings Release • Aug 30, 2012

News Details

Corporate | 30 August 2012 07:44

DF Deutsche Forfait AG publishes half-yearly figures for 2012

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

30.08.2012 / 07:44

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Press release

DF Deutsche Forfait AG publishes half-yearly figures for 2012

– Preliminary figures confirmed

– Consolidated result rises by 7% to EUR 1.5 million

– Positive outlook for full year 2012

Cologne, 30 August 2012 − DF Deutsche Forfait AG's performance was positive in the first half of 2012. Consolidated profit increased by 7% year-on-year to EUR 1.5 million. Earnings before taxes came to EUR 2.1 million, compared to EUR 2.0 million in the first six months of 2011. Earnings per share went up from EUR 0.20 to EUR 0.22.

DF Group's business developed positively on account of the continuing good conditions in the forfaiting market and the expected reduction of administrative costs. The company processed forfaiting transactions with a total volume of EUR 351.6 million in the first half of the year (prior year: EUR 358.6 million). The forfaiting margin remained at the high level of 1.9%. The gross result including financial results, the key performance figure for success in the forfaiting business, declined slightly by 5% to EUR 6.6 million. Administrative costs came to EUR 4.5 million, down 9% year-on-year. This illustrates DF Group's improved cost structure.

The balance sheet total went up by EUR 18.1 million to EUR 116.0 million compared to the end of 2011, mainly as a result of trade receivables increasing by EUR 35.4 million to EUR 96.4 million. The rise in receivables during the year and its targeted reduction at the end of the year are typical for DF Group's business development. On the liabilities side, current liabilities rose correspondingly as they are used for financing the rise in receivables during the year. Equity went up slightly by 6% to EUR 25.5 million, corresponding to a solid equity ratio of 22%.

The Group expects this good performance to continue in the second half of the year and to generate a clearly positive consolidated result in the full year 2012.

The Half Year Report June 2012 can be downloaded at www.dfag.de/172.html .

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, Germany

T +49 221 97376-37

F +49 221 97376-60

E investor.relations@dfag.de

http://www.dfag.de

End of Corporate News

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Language:	English
Company:	DF Deutsche Forfait AG
	Kattenbug 18-24
	50667 Köln
	Germany
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 Berlin, Düsseldorf, München, Stuttgart

End of News	DGAP News-Service

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183444  30.08.2012