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DF Deutsche Forfait AG
Earnings Release • Jul 6, 2017
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Earnings Release
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Corporate | 6 July 2017 11:30
DF Deutsche Forfait AG publishes figures for Q1 2017
DGAP-News: DF Deutsche Forfait AG / Key word(s): Quarterly / Interim Statement/Quarter Results
06.07.2017 / 11:30
The issuer is solely responsible for the content of this announcement.
DF Deutsche Forfait AG publishes figures for Q1 2017
Cologne, 6 July 2017 – DF Deutsche Forfait AG (ISIN share: DE000A2AA204, ISIN bond: DE000A1R1CC4) today published the quarterly statement for the first three months of 2017. As presented in the Annual Report for the past fiscal year, DF Group realized no business volume in the first quarter (Q1 2016: EUR 3.4 million.). Business with Iran was much slower than projected. Moreover, Dr. Manzouri’s absence due to illness led to a delay in the business development. The consolidated net loss amounted to EUR 0.4 million (Q1 2016: EUR -4.3 Mio.), which is equivalent to earnings per share of EUR -0.04.
The Group’s gross profits totaled EUR 1.6 million in Q1 2017 (Q1 2016: EUR 0.4 million) and were essentially influenced by commission income of EUR 0.5 million under the Trust Agreement and by the write-up of a receivable that forms part of the creditor assets. The write-up has no effect on the bottom line, as the value of the liabilities to the insolvency creditors increased at the same rate. Administrative expenses, which comprise personnel expenses and other operating expenses, almost halved to approx. EUR 2.5 million compared to the prior year period (Q1 2016: EUR 4.8 million).
The company continues to expect a notably higher business volume for the full year 2017. Due to the special features of the business model, it is impossible to reliably predict if the business volume will be sufficient to achieve a balanced consolidated result.
The quarterly statement for the period from 1 January to 31 March 2017 of DF Deutsche Forfait AG is available for download at http://www.dfag.de/publikationen/ .
About DF Deutsche Forfait Group
DF Group specializes in foreign trade finance and related services for exporters, importers and other financial service providers, with a focus on emerging markets. Within this market segment, the main focus is on financing foreign trade with Middle East countries.
Contact:
DF Deutsche Forfait AG
Hirtenweg 14
82031 Grünwald
T +49 89 21551900-0
F +49 89 21551900-9
Investor Relations / Press:
Frederic Hilke
IR.on AG
T +49 221 9140970
06.07.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | DF Deutsche Forfait AG |
| Hirtenweg 14 | |
| 82031 Grünwald | |
| Germany | |
| Phone: | +49 89 21551900-0 |
| Fax: | +49 89 21551900-9 |
| E-mail: | [email protected] |
| Internet: | www.dfag.de |
| ISIN: | DE000A2AA204, DE000A1R1CC4, |
| WKN: | A2AA20, A1R1CC |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |