LAIQON AG — Earnings Release 2010

Nov 11, 2010

News Details

Corporate | 11 November 2010 07:30

Lloyd Fonds AG with a profit for the first nine months

Lloyd Fonds Aktiengesellschaft / Key word(s): Quarter Results

11.11.2010 07:30

• EBIT of EUR 7.4 million; consolidated net profit of EUR 4.3 million
• Increased placement figures in the third quarter
• Lloyd Fonds rated 'A' by Feri and 'A-' by Scope

Hamburg, November 11, 2010. Lloyd Fonds AG achieved higher equity
placements in the third quarter than in the previous two quarters together.
The Company generated sales of EUR 15.4 million in the first nine months of
the year (previous year EUR 13.2 million), achieving consolidated net
profit for the period of EUR 4.3 million (previous year net loss of EUR
24.2 million). EBIT came to EUR 7.4 million (previous year loss at the EBIT
level of EUR 22.0 million). This reflects the sustained effects of the
cost-cutting efforts taken and the stable growth in recurring income.

Placement figures for the first nine months came to EUR 57.8 million
(previous year EUR 38.6 million), comprising new equity of EUR 34.2 million
and additional liquidity of EUR 23.6 million for existing funds. As in the
previous year, real estate funds accounted for the bulk of new placements.

Equity placements in the third quarter came to EUR 27.3 million, equivalent
to a considerable increase over the previous two quarters. At EUR 18.3
million, new equity placements contributed two thirds of the entire volume,
while a sum of EUR 9.0 million was accounted for by the additional capital
required for existing funds.

'Reflecting changes in subscriber preferences as a result of the crisis,
security and transparent structures are now the key characteristics of
investment products,' says Torsten Teichert, CEO of Lloyd Fonds AG. 'We are
responding to these changes by engineering innovative fund models. The new
funds which we have launched this year have met with a favorable market
response. The Holland Den Haag office building fund has been placed in
full, the Hotel Leipzig Nikolaikirche real estate fund initiated in the
summer is progressing well, and there is brisk interest in the Best of
Shipping III secondary-market fund, which has been available for
subscription since August. The awards and favorable ratings for our new
products and the entire Group are strengthening us in our resolve to
continue our strategy.'

The Company's successful performance is also reflected in the ratings which
have recently been awarded by two independent research companies: Scope
Analysis monitors the Company on an ongoing basis and has recently assigned
it an 'A-' rating. Rating agency Feri EuroRating Services also assessed
Lloyd Fonds' capabilities as part of a management rating for the first
time, giving it an overall ranking of A as a high-quality initiator.

After lengthy negotiations, BaFin has now granted permission for the
revised model underlying our planned cruise ship fund, after previously
approving the prospectus. However, our fund partners have postponed at
short notice a final decision on the execution of the project until spring
2011. Contrary to original plans, the fund will therefore now not be
entering the subscription phase in the next few months,' adds Teichert.

Against this backdrop, Lloyd Fonds will no longer be able to achieve its
original full-year equity placement forecast for 2010 and is now looking
for total placement volumes of EUR 70 million. This will not have any
effect on consolidated net profit. Accordingly, the Company still assumes
that it will break even after tax.

'Even though we can no longer achieve our equity placement target due to
the delay in our cruise ship fund, we will emerge strengthened from this
year,' explains Michael F. Seidel, chief financial officer/chief sales
officer at Lloyd Fonds AG. By signing the liability release agreement, we
have been able to materially improve the Company's risk position, our
equity ratio has recovered substantially, sales activities are going well
and we have new products in the pipeline.'

The Lloyd Fonds Group's full interim report on the third quarter of 2010 is
available at www.lloydfonds.de.

About Lloyd Fonds AG:
Lloyd Fonds AG is one of the top arrangers of closed-end funds in Germany.
Over its history, which now spans 15 years, the Hamburg-based company has
initiated 100 funds with an investment volume of around EUR 4.6 billion.
Research company FondsMedia has awarded Lloyd Fonds the 2010 Seal of
Sustainability. Lloyd Fonds specializes in tangible asset investments in
the transport and real estate segments. To date, over 53,000 subscribers
have placed equity of just under two billion euros in investment funds
arranged by Lloyd Fonds AG. Lloyd Treuhand GmbH is responsible for
subscriber relations. Lloyd Fonds has been listed on the Frankfurt stock
exchange since 2005 (WKN 617487, ISIN code DE0006174873).

Lloyd Fonds AG contact information:
Amelungstraße 8 - 10, 20354 Hamburg, www.lloydfonds.de

Press:
Susanne Maack
Tel: 040.32 56 78-210 or -205. Fax: 040.32 56 78-99.
E-Mail: susanne.maack@lloydfonds.de

Investor Relations:
Carolin von Below
Tel: 040.32 56 78-127 or -148. Fax: 040.32 56 78-99.
E-Mail: carolin.von-below@lloydfonds.de
Marcel Wiskow
Tel: 040.32 56 78-174 or -148. Fax: 040.32 56 78-99.
E-Mail: marcel.wiskow@lloydfonds.de

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Language: English
Company: 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
Internet: www.lloydfonds.de
ISIN: DE0006174873
WKN: 617487
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Berlin, Düsseldorf, Stuttgart

End of Announcement DGAP News-Service

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