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LAIQON AG — Earnings Release 2013
May 28, 2014
5417_rns_2014-05-28_72fb1968-6d74-4952-9a0b-c29c9b335916.html
Earnings Release
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Corporate | 28 May 2014 11:25
Lloyd Fonds Aktiengesellschaft: Final Results 2013
Lloyd Fonds Aktiengesellschaft / Key word(s): Final Results
28.05.2014 / 11:25
Released on 28 May 2014
Lloyd Fonds AG achieves positive Group earnings of 1.1 million euros in financial year 2013
– Positive operating result (EBIT)
– Continuing cost reduction programme
– Lloyd Fonds Management GmbH registered as an AIF capital management company in April 2014
Hamburg, 28 May 2014. In fiscal year 2013, Lloyd Fonds AG generated positive Group earnings amounting to approx. 1.1 million euros. The operating result (EBIT) was also positive, unlike in the prior year. What was of decisive importance for the overall positive result were the recurring and new income generated on portfolio management, the transfer of a number of one-ship companies into a shared “Ocean” structure developed by Lloyd Fonds AG in co-operation with Deutsche Bank, as well as the sale of two properties in the real estate fund “Four retail properties in Northern Germany”, in which Lloyd Fonds AG has a substantial holding. In addition, we successfully closed the placement of the real estate fund “Bremen Domshof” by the end of the year.
Despite of the valuation corrections made on holdings and receivables due to the prevailing tense market environment, an operating result of 0.1 million euros (previous year adjusted: -1.2 million euros) and Group earnings of 1.1 million euros (previous year adjusted: -2.8 million euros) were generated. Sales revenues remained stable at approx. 13.3 million euros (previous year: 13.7 million euros); this was essentially due to recurring revenues on current fund management and administration. By comparison it was possible for operating expenditures including personnel to be reduced once again by approx. 3.5 million euros year-on-year.
Cash and cash equivalents amounted to approx. 5.7 million euros as at 31 December 2013 (previous year: 3.1 million euros); the equity ratio was up by approx. 18 per cent year-on-year, to 59.4 per cent. Accordingly, Lloyd Fonds AG has a sound financial base even in the current phase of market change and generally declining placement figures.
“Thanks to our portfolio management and sound capital resources, we also have a healthy and robust competitive position even in the currently difficult market environment. On the other hand, we plan to adapt the corporate strategy of Lloyd Fonds AG to the new market conditions. The Company’s solid financial base enables us to study all opportunities and to make the right decisions,” says Dr. Torsten Teichert, CEO of Lloyd Fonds AG.
Adjustment to regulation requirements
Since 2012, Lloyd Fonds has adapted the regulatory requirements that became necessary in the wake of the implementation of the Capital Investment Act which went into effect on 22 July 2013. “The distribution company Lloyd Fonds Consulting GmbH established as early as 2012 received its licence to operate under the German Banking Act (KWG) from the German Federal Financial Supervisory Authority (BaFin) in 2013. In April of this year, in addition Lloyd Fonds Management GmbH was registered as a capital management company by the BaFin. This means that we can distribute investment products in our core segments of shipping and real estate to private and institutional investors even in the age of new regulation,” says Dr. Joachim Seeler, responsible for the real estate and sales divisions on the Management Board.
About Lloyd Fonds AG:
Lloyd Fonds AG is one of the best known issuing houses for investments in alternative real assets in Germany.
Lloyd Fonds focuses on real assets in the fields of shipping and real estate. Year to date, the Hamburg-based company has launched 106 funds with an investment volume of approx. 5 billion euros. Over 53,000 investors have invested roughly two billion euros in equity in the funds of Lloyd Fonds AG since its founding. Lloyd Treuhand GmbH administers the funds on behalf of the investors in Lloyd Fonds AG.
Lloyd Fonds has been listed on the Frankfurt Stock Exchange since 2005 (WKN 617487, ISIN DE0006174873).
Contact:
Hendrik Duncker
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-0
Fax: +49-40-325678-99
Mail: [email protected]
End of Corporate News
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| Language: | English |
| Company: | Lloyd Fonds Aktiengesellschaft |
| Amelungstr. 8-10 | |
| 20354 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 32 56 78-0 |
| Fax: | +49 (0)40 32 56 78-99 |
| E-mail: | [email protected] |
| Internet: | www.lloydfonds.de |
| ISIN: | DE0006174873 |
| WKN: | 617487 |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Frankfurt in Open Market (Entry Standard) |
| End of News | DGAP News-Service |
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| 270971 28.05.2014 |