DGAP-News: Baader Bank AG: Baader Bank holds its own in a difficult market environment
ID: 280425
20.10.2010 09:02
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Unterschleissheim, 20 October 2010
In an ongoing difficult market environment Baader Bank AG generated a
profit in the third quarter of 2010. In the traditionally weakest stock
market quarter in terms of revenues the bank's profit from operations
declined to EUR 2.3 million (Q3 2009: EUR 10.2 million). The profit from
ordinary activities also fell in the reporting period to EUR 2.3 million
(Q3 2009: EUR 9.6 million). Earnings after taxes dropped to EUR 1.1 million
(Q3 2009: EUR 6.7 million). 'Above all we have felt the effects of the low
trading activity of investors during the summer months,' said Uto Baader,
Chairman of the Board of Directors of Baader Bank AG.
Net trading income accordingly fell between July and September to EUR 8.9
million compared with EUR 23.4 million in the same quarter of the previous
year and net fee and commission income dropped to EUR 7.6 million (Q3 2009:
EUR 9.7 million). This development was cushioned by Baader Bank's variable
salary model, which enabled a cut in administrative expenses of 14.1% to
EUR 20.1 million in the third quarter.
As at 30 September 2010, the Group had equity of EUR 178.2 million (31
December 2009: EUR 177.6 million). In the first nine months of the year,
earnings per share amounted to EUR 0.19, down from EUR 0.35 year on year.
The Group employed 367 staff as at 30 September 2010 (30 September 2009:
349).
Key figures (EUR 1.1.- 1.1.-The Board of Directors
million) 30.9.2010 30.9.2009 Q3 2010 Q3 2009
Net fee and commission
income 25.9 27.0 7.6 9.7
Net trading income 44.7 61.1 8.9 23.4
Administrative expenses - 63.3 - 69.6 - 20.1 - 23.4
Profit from operations 11.3 19.2 2.3 10.1
Profit from ordinary
activities 12.1 20.1 2.3 9.6
Earnings after taxes 8.5 15.7 1.1 6.7
Published by:
Baader Bank Aktiengesellschaft
Contact: Thomas Spengler
Weihenstephaner Str. 4
85716 Unterschleissheim
Tel. +49 89 5150-1030
Fax +49 89 5150-291030
thomas.spengler@baaderbank.de
www.Baaderbank.de
20.10.2010 09:02 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Baader Bank AG
Weihenstephaner Str. 4
85716 Unterschleissheim
Deutschland
Phone: +49 (0)89/ 5150-0
Fax: +49 (0)89/ 5150-291030
E-mail: info@Baaderbank.de
Internet: www.Baaderbank.de
ISIN: DE0005088108
WKN: 508810
Listed: Freiverkehr in Hamburg, München (m:access), Düsseldorf,
Berlin, Stuttgart, Hannover; Open Market in Frankfurt
End of Announcement DGAP News-Service
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Datum: 20.10.2010 - 09:02 Uhr
Sprache: Deutsch
News-ID 280425
Anzahl Zeichen: 3953
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
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