DGAP-News: Baader Bank AG: Provisional group results for 2010 in accordance with IFRS
(firmenpresse) - DGAP-News: Baader Bank AG / Key word(s): Final Results/Preliminary
Results
Baader Bank AG: Provisional group results for 2010 in accordance with
IFRS
23.02.2011 / 08:00
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Despite a strong final spurt in the fourth quarter, Baader Bank AG was
unable in 2010 to match the previous year's annual results. Profit after
tax for the year under review fell by 10.5% to EUR 16.2 million, of which
EUR 7.7 million was achieved in the final quarter alone. 'Our comeback in
the fourth quarter is above all due to the rise in share prices and the
associated growth in sales on the markets', says Uto Baader, the Chairman
of the Board of Directors of Baader Bank.
The bank saw its profit from ordinary activities drop by 21.9% to EUR 18.5
million in 2010. Profit after tax corresponded to earnings per share of EUR
0.36 (previous year: EUR 0.40). A dividend of EUR 0.12 (previous year: EUR
0.13) is to be proposed to shareholders at the Annual General Meeting on 30
June 2011. This is to be paid from the tax deposit account.
Net trading income for the year under review amounted to EUR 63.7 million
(down 16.0%), of which the fourth quarter alone accounted for EUR 19.0
million. Net fee and commission income fell by 4.4% to EUR 34.5 million.
Thanks to the expansion of the deposit business, a significant increase of
80.0% to EUR 5.4 million was achieved in net interest income for the first
time. Administrative expenses were reduced to EUR 87.2 million, a drop of
2.4%. Profit from operations fell by 26.1% to EUR 17.3 million.
Equity at the end of last year amounted to EUR 174.0 million (previous
year: EUR 177.6 million). As at the reporting date, 389 staff (previous
year: 343) were employed at the Group.
Key figures in EUR million 2010 2009The Board of Directors
Net interest income 5.4 3.0
Net fee and commission income 34.5 36.1
Net trading income 63.7 75.8
Administrative expenses 87.2 89.3
Profit from operations 17.3 23.4
Profit from ordinary activities 18.5 23.7
Profit after tax 16.2 18.1
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Publisher:
Baader Bank Aktiengesellschaft
Contact: Thomas Spengler
Weihenstephaner Str. 4
85716 Unterschleißheim
Tel. +49 (0) 89 5150 1030
Fax +49 (0) 89 5150 29 1030
thomas.spengler(at)baaderbank.de
www.baaderbank.de
End of Corporate News
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23.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Baader Bank AG
Weihenstephaner Str. 4
85716 UnterschleissheimDeutschland
Phone: +49 (0)89/ 5150-0
Fax: +49 (0)89/ 5150-291030
E-mail: info(at)Baaderbank.de
Internet: www.Baaderbank.de
ISIN: DE0005088108
WKN: 508810
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München (m:access), Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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113079 23.02.2011Unternehmensinformation / Kurzprofil:
Datum: 23.02.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 33275
Anzahl Zeichen: 0
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Kategorie:
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