DGAP-News: DF Deutsche Forfait AG reports clearly positive consolidated net income for 2012
(firmenpresse) - DGAP-News: DF Deutsche Forfait AG / Key word(s): Preliminary Results
DF Deutsche Forfait AG reports clearly positive consolidated net
income for 2012
11.03.2013 / 07:34
---------------------------------------------------------------------
Corporate News
Preliminary figures
DF Deutsche Forfait AG reports clearly positive consolidated net income for
2012
- Consolidated net income reaches EUR 2.5 million
- Improved forfaiting business leads to higher gross result
- Frank Hock to success Jochen Franke as new Chief Financial Officer
Cologne, 11 March 2013 - DF Deutsche Forfait AG returned to profit in the
2012 financial year. According to preliminary figures, consolidated net
income amounted to approx. EUR 2.5 million, which represents a return on
equity of 9%. Preliminary earnings per share for the 2012 financial year
reached EUR 0.37 (previous year: EUR -0.58 per share) and will allow the
company to pay out an attractive dividend. The increased result is
attributable to improved forfaiting business. The gross result including
financial results, which is the critical performance indicator for the
forfaiting business, increased by 8% to EUR 13 million. At the same time,
administrative expenses declined sharply by 16% to approx. EUR 9.0 million
due to lower legal and personnel expenses.
2012 saw DF Deutsche Forfait Group handle forfaiting transactions totalling
EUR 675 million (previous year: EUR 661 million). At 1.9%, the forfaiting
margin exceeded the previous year's 1.8%.
Marina Attawar, member of the Board of Management of DF Deutsche Forfait
AG: 'We are back in the fast lane and have reached our targets for 2012.
Efficiency gains on the cost side, a solid capital basis and positive
market conditions mean that the conditions are in place for further volume
and profit growth in the coming years. As the economic environment
continues to improve, we expect growing financing demand from exporters.
Our specialist trade finance solutions will allow us to benefit from the
growing imbalance between credit supply and demand.'
The entry in the funds business, which is planned for this year, will work
in the same direction. The launch of trade finance funds will give DF
Deutsche Forfait AG access to new investor groups and sources of income.
Due to the low interest rates, institutional investors are highly
interested in investments offering a flat yield and a higher return than
government bonds. But most institutional investors lack the knowledge that
is required for the purchase, risk assessment and management of individual
trade finance receivables. A trade finance fund gives them the opportunity
to invest in this attractive asset class. The first fund is scheduled to be
available to investors in mid-2013.
Change on the Board of Management
DF Group has also announced a change on the Board of Management. The
Supervisory Board has appointed Frank Hock new member of the Board of
Management of DF Deutsche Forfait AG. He will take over as Chief Financial
Officer from Jochen Franke, who has terminated his contract for personal
reasons. Mr Franke will resign from the Board of Management upon adoption
of the 2012 financial statements in late March. The Supervisory Board would
like to thank Mr Franke for his long-standing and very successful work for
the company. Frank Hock has sat on the Supervisory Board of DF Deutsche
Forfait AG since 2007 and has been a shareholder of the company for many
years. He looks back on 19 years experience in the financial sector and is
absolutely familiar with the forfaiting business and with DF Deutsche
Forfait AG thanks to his work on the Supervisory Board.
The full consolidated financial statements and the Annual Report for 2012
will be published on 3 April 2013.
About DF Group
The main business activities of DF Group are the purchase and sale of
selected export receivables in emerging markets on a non-recourse basis.
The objective is to sell the acquired receivables at the same time or in
the short term. Forfaiting is an increasingly important tool in export
financing, with volumes rising in line with the continuing advance of
globalization. Creating tradable products from receivables benefits both
exporters and buyers. As well as transferring risk to the buyer, the main
benefit of forfaiting for exporters is the inflow of cash. This relieves
the exporters' credit lines and improves their balance sheet structure. DF
Deutsche Forfait AG structures receivables attractively, so that investors
seek them as a type of investment.
DF Deutsche Forfait AG
Christoph Charpentier
Kattenbug 18 - 24
50667 Cologne
T +49 221 97376-37
F +49 221 97376-60
E investor.relations(at)dfag.de
http://www.dfag.de
End of Corporate News
---------------------------------------------------------------------
11.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: DF Deutsche Forfait AG
Kattenbug 18-24
50667 Köln
Germany
Phone: +49 (0)221 - 973 76 0
Fax: +49 (0)221 - 973 76 76
E-mail: dfag(at)dfag.de
Internet: www.dfag.de
ISIN: DE0005488795
WKN: 548879
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
203472 11.03.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.03.2013 - 07:34 Uhr
Sprache: Deutsch
News-ID 237782
Anzahl Zeichen: 7532
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 379 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: DF Deutsche Forfait AG reports clearly positive consolidated net income for 2012"
steht unter der journalistisch-redaktionellen Verantwortung von
DF Deutsche Forfait AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
