DGAP-News: DF Deutsche Forfait AG Publishes 2010 Half-Year Results
(firmenpresse) - DF Deutsche Forfait AG / Half Year Results
27.08.2010 07:19
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
DF Deutsche Forfait AG Publishes 2010 Half-Year Results
- Forfaiting volume increases by 17% to EUR 335.0 million
- Consolidated profit of EUR 1.6 million at prior-year level
- Rising contribution margins expected in the second half of the year
Cologne, 27 August 2010 - DF Deutsche Forfait AG (ISIN: DE0005488796, Prime
Standard) increased its forfaiting volume by 17% to EUR 335.0 million in
the first six months of 2010, generating consolidated profit of EUR 1.6
million - equivalent to the prior year.
Conditions in the forfaiting business continued to improve in the second
quarter of 2010. Increasing exports are driving demand for financing
solutions, especially in the emerging markets and developing countries
which constitute the core market of DF Deutsche Forfait AG. On the other
hand, continuing uncertainty as a result of the financial crisis is leading
to more volatile results for the Company over the course of the year.
Due to these conditions, the gross result including financial results,
which is the key performance figure in the forfaiting business, fell short
of the prior-year level by 3.8% at EUR 6.3 million for the first six
months. The forfaiting margin was 1.9%, which is lower than the margin of
2.3% in the first half of 2009 but remains significantly above the level in
prior years.
The Management Board stands by its forecast for a much higher forfaiting
volume compared to the prior year and consolidated profit of EUR 4.2
million for 2010 overall.
Marina Attawar, member of the Management Board of DF Deutsche Forfait AG:
'The pronounced recovery of the global economy will increasingly impact our
figures in the second half of 2010, assuming the positive trend continues.'
Administrative expenses decreased by 4% to EUR 4.2 million in the first
half of 2010. Earnings per share came in at EUR 0.23 compared to EUR 0.24
in the first six months of the prior year.
The balance-sheet total increased from EUR 111.4 million at the end of 2009
to EUR 142.8 million, mainly due to the higher balance of trade accounts
and other receivables. 91% of the receivables from the forfaiting business
are secured. Cash and cash equivalents on the interim reporting date
increased by 21% to EUR 14.9 million. Equity of EUR 28.5 million on 30 June
2010 was equivalent to the 2009 year-end level. The equity ratio was a
solid 20%.
The 2010 half-year report is available for download under
http://www.dfag.de/172.html?&L=1.
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
27.08.2010 07:19 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: DF Deutsche Forfait AG
Kattenbug 18-24
50667 Köln
Deutschland
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 München, Düsseldorf, Berlin, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
Datum: 27.08.2010 - 07:19 Uhr
Sprache: Deutsch
News-ID 32089
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 314 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: DF Deutsche Forfait AG Publishes 2010 Half-Year Results"
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).
