DGAP-News: Lloyd Fonds AG with consolidated profit in the third quarter
(firmenpresse) - DGAP-News: Lloyd Fonds Aktiengesellschaft / Key word(s): Quarter
Results
Lloyd Fonds AG with consolidated profit in the third quarter
10.11.2011 / 07:50
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Lloyd Fonds AG with consolidated profit in the third quarter
- Planned equity issue ushering in a new era in the company's development
- Three-fold increase in Lloyd Fonds' market share
Hamburg, November 10, 2011. Lloyd Fonds AG achieved higher equity
placements in the third quarter than in the first half year, generating
consolidated net profit of EUR 1.1 million. Sales in the first nine months
came to EUR 10.5 million, with the third quarter contributing EUR 4.5
million. Placement figures for the first nine months came to EUR 29.4
million (previous year EUR 57.8 million), comprising new equity of EUR
21.7 million and additional liquidity for existing funds of EUR 7.7
million. Recurring income, which chiefly comprises management and
trusteeship income, came to EUR 7.7 million in the first nine months.
Consequently, the Lloyd Fonds Group was able to benefit from the stability
of this non-issuing income.
Lloyd Fonds prepared its statement of performance for 2010. The statement
of performance documents the condition of the 102 closed-end investment
funds which have been established to date. The 16 funds which have already
been liquidated have generated substantial gains for the subscribers. With
an average duration of just under four years, they have yielded an average
post-tax return of 9.5 percent per year. In the case of the active funds,
the flowbacks achieved to date stand at 4.2 percent per year of invested
subscriber capital at the subscriber level. The real estate and energy
segments have proven their merits as low-risk investments and, on average,
exceeded the applicable forecasts.
Despite reticence on the part of subscribers, Lloyd Fonds collected equity
of EUR 14.8 million in the third quarter, more than in the first half of
the year and has therefore been steadily increasing its placement figures
since the beginning of the year in defiance of market trends. Lloyd Fonds
expects similar placement figures for the fourth quarter of the year. One
material reason for this above-average performance has been the good to
very good analyst ratings awarded to the funds currently available for
subscription. This applies to the two large-volume funds Energie Europa and
A380 Singapore Airlines, the Holland Utrecht real estate fund and the Best
of Shipping III secondary-market fund. It will continue selling the funds
currently in the subscription phase in 2012 as well.
'Without doubt the year 2012 will be a decisive one for the entire sector.
Placement figures as a whole have remained weak. However, with its
attractive products, Lloyd Fonds has been able to widen its share in total
placement volumes almost three-fold over the second quarter, albeit from a
low level. This positive development confirms that we have turned the
corner at the product and sales level as well. The renewed strength of our
operating business and the planned equity issue will ensure that we are
positioned to optimum effect in the impending consolidation phase',
explains Torsten Teichert, CEO of Lloyd Fonds AG.
Equity issue and full release from liability in 2011
Lloyd Fonds has invited its shareholders to an extraordinary shareholder
meeting, which will betaking place in Hamburg on December 5, 2011 and at
which shareholders will be asked to approve the issue of fresh equity of up
to EUR 15 million with full pre-emptive subscription rights. Subject to the
shareholders' approving of the equity issue, Lloyd Fonds AG will be able to
enter a new phase in its corporate development and successfully complete
its restructuring process. Part of the proceeds from the issue will be used
to settle once and for all the liability release agreement signed with the
banks in April 2010.
'With this equity issue, Lloyd Fonds will be one of very few German fund
initiators to have completed their restructuring process in full and to be
free of any liabilities towards banks. What is more, the equity issue will
strengthen Lloyd Fonds AG's consolidated equity, reassuring it of
above-average capital resources compared with the rest of the industry,'
says Michael F. Seidel, CFO/CSO at Lloyd Fonds AG.
The company wants to regain the market share lost during the restructuring
phase and fortify its competitive position. In this position of strength,
it will be able to play an active role in the expected consolidation of the
closed-end investment fund market, particularly in the area of trusteeship
entities and fund management.
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 funds with an investment volume of
around EUR 5.0 billion. The current secondary-market fund 'Best of Shipping
III' received the 2011 Feri EuroRating Award in March of this year.
Research company FondsMedia has awarded Lloyd Fonds the 2010 Seal of
Sustainability. Lloyd Fonds has been 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.
The company specializes in tangible asset investments in the transport,
real estate and energy segments. To date, over 52,000 subscribers have
placed equity of just under 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).
Lloyd Fonds AG:
Press inquiries: Christiane Brüning
Amelungstraße 8 - 10, 20354 Hamburg,
Tel: 040.32 56 78- 142. Fax: 040.32 56 78-99.
christiane.bruening(at)lloydfonds.de
Investor relations: Marcel Wiskow
Tel: 040.32 56 78-174. Fax: 040.32 56 78-99.
E-Mail: marcel. wiskow(at)lloydfonds.de
Contact:
Marcel Wiskow
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-0
Fax: +49-40-325678-99
Mail: ir(at)lloydfonds.de
End of Corporate News
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10.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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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