Varengold Bank AG

Management Reports • Jun 14, 2021

News Details

Ad-hoc | 14 June 2021 12:00

Varengold Bank AG: Forecast for the 2021 financial year

Varengold Bank AG / Key word(s): Forecast/Miscellaneous

Varengold Bank AG: Forecast for the 2021 financial year

14-Jun-2021 / 12:00 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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H amburg, 14 June 2021 – Varengold Bank AG (symbol: VG8) is planning for strong growth in earnings in the Transaction Banking segment for the current fiscal year, as well as high demand for the bank’s products and services for the rest of the year. On this basis, the Management Board today deducted an earnings forecast for the fiscal year 2021 from the current business planning. Based on current knowledge, the bank expects earnings before taxes (EBT*) as a key performance indicator to be EUR 16,4 million. In 2019, EBT was EUR 3.6 million and for 2020 EBT (preliminary) was expected to be EUR 1.8 million.

Dr. Bernhard Fuhrmann

Management Board

Frank Otten

Management Board

* EBT (earnings before taxes) is defined as period result before deduction of income taxes.

Disclaimer

This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.

Contact:

Ms. Sanja Schultz-Szabo (Head of Corporate Development)

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14-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	Varengold Bank AG
	Große Elbstraße 39
	22767 Hamburg
	Germany
Phone:	+49 (0)40 / 668649-0
Fax:	+49 (0)40 / 668649-49
E-mail:	investorrelations@varengold.de
Internet:	www.varengold.de
ISIN:	DE0005479307
WKN:	547930
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich, Stuttgart
EQS News ID:	1207607

End of Announcement	DGAP News Service