DGAP-News: DF Deutsche Forfait AG closes first quarter with positive result
(firmenpresse) - DGAP-News: DF Deutsche Forfait AG / Key word(s): Quarter Results
DF Deutsche Forfait AG closes first quarter with positive result
29.05.2013 / 07:22
---------------------------------------------------------------------
Quarterly figures
DF Deutsche Forfait AG closes first quarter with positive result
- Consolidated result of EUR 0.5 million
- Focus on strategic decisions for the future
- Implementation of trade finance funds concept proceeding to plan
Cologne, 29 May 2013 - In the first quarter of 2013, DF Deutsche Forfait AG
(Prime Standard, ISIN: DE0005488795) put a clear focus on setting the
strategic course for the future. The entry into the funds business and the
issue of a EUR 30 million corporate bond (Entry Standard, ISIN:
DE000A1R1CC4) will open up new growth opportunities to DF Group in the
coming years. Although resources were tied up in the projects, the company
reported a positive result of EUR 0.5 million (previous year: EUR 0.7
million) for the first quarter. This represents earnings per share of EUR
0.07 (previous year: EUR 0.11).
As had been expected, the forfaiting volume of EUR 152.4 million was below
the previous year's EUR 190.0 million. The same applies to the gross result
including financial results (the key performance indicator for success in
the forfaiting business), which was down by EUR 0.4 million to EUR 2.9
million. At 1.9%, the forfaiting margin stayed at the high level of the
full year 2012. Administrative expenses, which had already been reduced
significantly in the previous year, were down by 4% on the previous year to
EUR 2.2 million.
Overall, the environment for forfaiting transactions is still positive. In
spite of the existing uncertainty about the future outlook for the world
economy, exporters' demand for financing solutions for deliveries of goods
to emerging and developing countries remains high. At the same time,
investors are showing growing interest in the asset class of export
receivables in view of historically low interest rates. By establishing a
subsidiary, Deutsche Kapital Limited, in the Dubai International Financial
Center and completing the approval process with the Regulator, the Dubai
Financial Services Authority for asset management and the distribution of
funds, DF Group has laid the foundation for the launch of trade finance
funds in the first quarter of 2013. Deutsche Kapital Limited is in initial
discussion with a number of institutional investors which have expressed
interest in the trade finance fund space. With the new funds concept, DF
Deutsche Forfait AG will establish a second source of income besides the
revenues from the existing forfaiting business.
Says Marina Attawar, member of the Board of Management of DF Deutsche
Forfait AG: 'The first months of 2013 showed the way for the future of DF
Group. We have not only pushed forward our funds business but also
strengthened our funding base by EUR 30 million through the successful
issue of a corporate bond. This will enable a sustained increase in our
forfaiting volume over the medium term.'
DF Group continues to project a clearly positive consolidated result for
the full year 2013.
The full report on the first three months of 2013 is available in the
Investor Relations section of the company's website.
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
---------------------------------------------------------------------
29.05.2013 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
---------------------------------------------------------------------
213578 29.05.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 29.05.2013 - 07:22 Uhr
Sprache: Deutsch
News-ID 264123
Anzahl Zeichen: 6936
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 278 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: DF Deutsche Forfait AG closes first quarter with positive result"
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).
