DGAP-News: First half of 2012: Lloyd Fonds AG remains in profit-making territory
(firmenpresse) - DGAP-News: Lloyd Fonds Aktiengesellschaft / Key word(s): Half Year
Results
First half of 2012: Lloyd Fonds AG remains in profit-making territory
09.08.2012 / 08:30
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First half of 2012: Lloyd Fonds AG remains in profit-making territory
- Consolidated net profit of EUR 0.2 million in the first half of 2012
- Cost-cutting program resulting in substantially reduced expenses
- Systemic focus on core skills in shipping and real estate
Hamburg, August 9, 2012. Lloyd Fonds AG has continued the favorable
performance achieved in the first three months of the year, generating
total sales of EUR 7.1 million in the first half of 2012 (previous year EUR
6.0 million). Thus, earnings before interest and taxes (EBIT) came to EUR
0.6 million during this period, reversing the previous year's loss at the
EBIT level of EUR 5.1 million. As a result, Lloyd Fonds was able to post
consolidated net profit of EUR 0.2 million at the end of the first half of
the year.
This was materially due to the successfully implemented cost-cutting
program, which resulted in substantial savings in staff and material costs
in particular. Thus, staff costs and net other operating expenses were
reduced by 25 percent over the first half of 2011 from EUR 8.9 million to
EUR 6.7 million. Earnings were additionally buoyed by the sale of the
company's entire share in Feedback AG as well as fair-value remeasurement
gains on the investment in TVO. At a total of EUR 13.0 million, equity
placements were down on the previous year's figure of EUR 14.6 million,
although it should be noted in this connection that no restructuring
capital has been collected this year (previous year EUR 7.7 million).
Systemic focus on core skills in shipping and real estate
In the first half of 2012, Lloyd Fonds AG continued focusing on its further
strategic development particularly in the two core asset classes of
shipping and real estate. By concentrating on its core skills, Lloyd Fonds
AG is underscoring its strengths as an asset specialist and responding to
the growing importance of asset management under the new AIFM directive,
which takes effect next July. In this connection, one material strategic
objective is to expand institutional business, which will grow in
importance as a result of the new directive. To this end, Lloyd Fonds
Consulting GmbH was incorporated in May 2012 and will be marketing
special-purpose funds once it has received a license under the German
Banking Act.
In the shipping asset class, the prime task will be to steer existing
business through the current crisis as effectively as possible. Lloyd Fonds
is currently working with a renowned banking partner on the development of
a viable restructuring model for existing ship funds. In addition, it will
be developing innovative structures for future new business as soon as this
is permitted by market conditions.
Lloyd Fonds AG's real estate asset class is concentrating on residential,
office and commercial real estate primarily in Germany. In the period under
review, five assets were exclusively secured in Hamburg, Bremen, Hannover
and Ulm. In institutional business, the Company plans to arrange its first
special-purpose fund investing in German residential real estate.
'With market conditions generally still challenging, the net profit that we
generated in the first half of the year confirms our decision to focus on
our core skills in shipping and real estate and to systematically continue
our cost-cutting program. The task which we now face is to make use of the
strategic opportunities from the new AIFM directive arising for us as a
listed company,' says Torsten Teichert, CEO of Lloyd Fonds AG.
About Lloyd Fonds AG:
Lloyd Fonds AG is one of the top arrangers of closed-end investment funds
in Germany. Over its history, which now spans more than 15 years, the
Hamburg-based company has initiated 105 funds with an investment volume of
around EUR 5.1 billion. Research company FondsMedia has awarded Lloyd Fonds
the 2010 Seal of Sustainability. In July 2011, Lloyd Fonds was named by
Deutsches Institut für Service-Qualität (DISQ) as the fund arranger with
the best service and the greatest transparency in relations with
subscribers and retail partners. In addition, Lloyd Fonds AG received the
Scope Transparency Award in October 2011. Lloyd Fonds specializes in
alternative real investments in the transport and real estate segments. To
date, over 53,000 subscribers have placed equity of around 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).
Investor relations:
Marcel Wiskow Tel: 040.32 56 78-174 or -148. Fax: 040.32 56 78-99. E-Mail:
marcel.wiskow(at)lloydfonds.de
End of Corporate News
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09.08.2012 Dissemination 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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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: info(at)lloydfonds.de
Internet: www.lloydfonds.de
ISIN: DE0006174873
WKN: 617487
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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181047 09.08.2012
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Datum: 09.08.2012 - 08:30 Uhr
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