LAIQON AG — Earnings Release 2006

Apr 17, 2007

News Details

Corporate | 17 April 2007 07:30

Lloyd Fonds with considerable growth in fiscal year 2006

Lloyd Fonds Aktiengesellschaft / Final Results/Miscellaneous

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer is solely responsible for the content of this announcement.

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• Successful continuation of growth and diversification:
o EBIT up by more than 5% to almost EUR 24 million
o Currently Investments in five asset classes
• Increase in equity placed to EUR 420 million expected for 2007
• Dividend proposal of EUR 1.25
• Confirmation of the preliminary figures released on February 5, 2007

Hamburg, April 17, 2007. In fiscal year 2006, Lloyd Fonds again increased
earnings, after posting record sales and net income in the previous year.
In the reporting period, EBIT at EUR 23.9 million was 5.1% higher
year-on-year, with consolidated net income increased by 11.1% to EUR 19
million. In a slightly weaker market environment, sales of approximately
EUR 72 million were generated in 2006, 1.4% more than in the previous year.
Also in plus, although to a lesser extent, was the volume of equity placed.
At EUR 301 million, it was EUR 15 million higher than in the previous year
(+5.2%), but lagged behind original expectations. Here one should also take
account of the general market trend which was slightly negative. The major
share of the investment capital at Lloyd Fonds AG, at 71%, related to
closed-end ship funds. At the same time, in comparison to the previous
year, the placement share of traded UK endowment policies rose by 12
percentage points to 24%. The new asset classes of real estate and private
equity were only initiated later in the year, so that placement success
will only fully impact fiscal year 2007. In 2006, the number of investors
increased by approximately 60% to over 30,000.

Successful diversification of asset classes and revenues structure
Lloyd Fonds considerably advanced the diversification begun in recent
years. Not only was the position in the asset classes of ships and traded
UK endowment policies clearly defended, but at the same time Lloyd Fonds
initiated two real estate funds and one private equity fund for the first
time in 2006. Preparations for the first Lloyd Fonds aircraft funds and for
the 'Premium Portfolio' with various assets were also advanced last year.
With the world’s first open-end ship fund addressed primarily to
institutional investors, Lloyd Fonds launched a genuine product innovation.
The high level of diversification in the product range, the increase of
non-issuing income and the high quality of the service range are the
sustained basis for successful business at Lloyd Fonds.
Dr. Torsten Teichert, Chairman of the Lloyd Fonds AG Management Board,
commented the trend in a correspondingly positive fashion: 'Our products
have proved to have ongoing appeal, demonstrated not least by the good
performance of our previous funds. The strategy of diversifying in asset
classes, in fund structures and in revenue sources is proving successful.'
The first quarter of 2007 signals an ongoing continuation of this trend.
The most recent aircraft fund with the Airbus A 340 enjoyed particularly
high demand. 'Even before the official sales start at the beginning of
April, the equity of USD 49 million has already been given completely to
sales partners', confirmed Dr. Marcus Simon, Lloyd Fonds AG Management
Board member with responsibility for sales and marketing. 'We will
consistently extend this new aircraft product line.' The business trend is
also positive in the other product and services areas.

Dividend yield increases to almost 7%
With this background, Lloyd Fonds will propose to the Annual General
Meeting that a dividend of EUR 1.25 per share be distributed for fiscal
year 2006. This represents a pay-out quota of 80% on the basis of the IFRS
financial statements. With a dividend yield of approximately 7% (on the
basis of a stock exchange price of EUR 18.00), this makes Lloyd Fonds a
company with one of the highest dividend yields in Germany.

Down the success track in 2007
For Lloyd Fonds the results of fiscal 2006 are an excellent starting basis
for the current business period. 'For 2007 we expect a considerable
improvement in the income situation and a further improvement in profits.'
stated Dr. Teichert. 'Parallel to the rise in equity placed, that share of
non-issuing income from trusteeship and management activities will continue
to rise. In the current year, net income is set to increase to EUR 20
million. In the process the share of issue-unrelated income should increase
on a sustained basis, stabilising earnings growth.' Lloyd Fonds sees itself
well positioned for future challenges.
'We are making great progress in the transition from being a pure-play
initiator of closed-end funds to an issuer and financer of structured
investment products ,' stated Holger Schmitz, the Management Board member
responsible for design and products. 'For the whole of 2007, we are thus
expecting a considerable rise in equity placed to approximately EUR 420
million, a year-on-year increase of 40%.' A key contribution is to be made
by the new 'Schiffsportfolio II', a ship fund distributed by Deutsche Bank.
It is the largest fund so far in the history of Lloyd Fonds and in terms of
investment volume one of the largest offers in the whole area of closed-end
ship funds. The fund represents equity to be placed of USD 180 million and
an investment volume of approximately USD 516 million. To strengthen the
Sales division, the former Lloyd Fonds AG CFO, Dr. Marcus Simon, has
assumed responsibility for this area since the beginning of 2007. Lloyd
Fonds is thus reacting to the changing market and the challenge of
addressing new target groups.

Key ratios of the Lloyd Fonds AG (Group)
(in EUR million)

Income statement:
2006 2005 Change
Sales 72.0 71.0 +1.4%
EBIT 23.9 22.8 +5.1 %
EBIT margin 33.2% 32.1% +1.1 percentage points
Consolidated profit
for the year 19.0 17.1 +11. 1%
Earnings per share (in EUR)
(on the basis of 12.7 million
shares after IPO) 1.60 1.35 +18.5 %

Funds:
2006 2005 Change
Equity placed per year 301 286 +5.2%
Equity placed, cumulative 1,171 870 +34.6%
Number of funds arranged,
cumulative 74 66
Number of investors,
cumulative 30,301 18,870 +60.6%

Balance sheet and other:
Dec. 31, 2006 Dec. 31, 2005
Total assets on December 31 105.2 98.8
Equity on December 31 80.5 75.2
Equity ratio on December 31 76.5% 76.0%
Cash flow from
operating activities 19.4 7.5
Average headcount 94 65

The 2006 annual report was published on the Deutsche Börse AG
(www.deutsche-boerse.de) and Lloyd Fonds (www.lloydfonds.de) websites .

Contact:
Dr. Goetz Schlegtendal
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Germany
Phone: +49-40-325678-0
Fax: +49-40-325678-99
Mail: ir@lloydfonds.de

Contact:
Dr. Goetz Schlegtendal
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-0
Fax: +49-40-325678-99
Mail: ir@lloydfonds.de

DGAP 17.04.2007

Language: English
Issuer: Lloyd Fonds Aktiengesellschaft
Amelungstr. 8-10
20354 Hamburg Deutschland
Phone: +49 (0)40 32 56 78-0
Fax: +49 (0)40 32 56 78-99
E-mail: info@lloydfonds.de
www: www.lloydfonds.de
ISIN: DE0006174873
WKN: 617487
Indices:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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