DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016

Size: px
Start display at page:

Download "DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016"

Transcription

1 DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016 Frankfurt/Main, 12 May 2016 During the first three months of 2016, DVB Bank SE (ISIN DE ) generated reasonable consolidated net income before taxes of 25.9 million (Q1 2015: 84.3 million). Ralf Bedranowsky, CEO and Chairman of DVB Bank SE's Board of Managing Directors, commented on the Bank's interim financial statements: "In a challenging environment in geopolitical, macroeconomic and industry-specific terms the Bank's business model once again proved resilient. DVB's clear focus on financing transportation assets has paid off, especially during these testing times. We originated 27 new transactions in our core Transport Finance business, with an aggregate volume of 1.2 billion (Q1 2015: 51 new transactions with a total volume of 1.7 billion). Whilst the Bank adopted a cautious lending policy in the persistently difficult segments of the shipping industry, it very successfully originated new business in Aviation Finance with aircraft financings, and in Land Transport Finance, where it finances rail rolling stock and rail-related vehicles. We were also successful in the advisory business where net fee and commission income rose by 3.1%, to 27.0 million. On another positive note, in spite of continued high expenses incurred with regulatory-driven projects, we managed to keep general administrative expenses at 46.2 million (Q1 2015: 44.8 million). In line with our projections, allowance for credit losses increased from 13.4 million to 36.3 million. The increase was largely required for legacy exposures in the Shipping Finance portfolio, and for financings in the Offshore Finance portfolio, which is burdened by the slump in oil prices. The first quarter of 2015 included substantial non-recurring income from the sale of investment securities, due to the partial disposal of the stake in Wizz Air Holdings Plc. This one-off effect, which was generated in our Aviation Investment Management activities, did not materialise during the reporting period We continue to assess the financial year 2016 with cautious optimism, and are endeavouring to achieve consolidated net income that should approach the previous year's level. Given the persistent challenges on the shipping and offshore markets, we are aware that allowance for credit losses will continue to remain on an elevated level." 1

2 The detailed items of the interim financial statements are provided below: Net interest income decreased by 10.8%, from 64.8 million to 57.8 million, due to the following reasons: risk costs included in net interest income of 0.9 million (Q1 2015: 2.7 million, largely comprising expenses incurred for vessels which are under the Bank's control, as part of restructuring measures. Net interest income is also burdened by early loan repayments as well as the requirement to maintain additional liquidity with the European Central Bank (at negative interest rates), due to new EU liquidity requirements (LCR). Moreover, increasing global competition for transport market financings has put pressure on interest margins. Allowance for credit losses amounted to 36.3 million during the period under review (Q1 2015: 13.4 million). Specifically, new allowance recognised for credit losses totalled million, of which million was accounted for by Shipping Finance and Offshore Finance, due to the persistently difficult environment on the international shipping and offshore markets. Conversely, allowance for credit losses of 95.6 million was reversed (of which 84.1 million in Shipping Finance and Offshore Finance). Net interest income after allowance for credit losses stood at 21.5 million and thus fell short of the previous year's figure of 51.4 million. Total allowance for credit losses (comprising specific allowance for credit losses, portfolio-based allowances for credit losses, and provisions) rose to million, up 5.9% from year-end 2015 ( million). Net fee and commission income, which primarily includes fees and commissions from new Transport Finance business, asset management fees, and fees generated from Corporate Finance advisory mandates, was up 3.1%, from 26.2 million to 27.0 million. Results from investments in companies accounted for using the equity method amounted to 0.2 million (Q1 2015: 3.1 million). Net other operating income/expenses amounted to 4.4 million (Q1 2015: 0.9 million). General administrative expenses were up 3.1%, to 46.2 million (Q1 2015: 44.8 million). Staff expenses increased by 6.2%, to 27.4 million (previous year: 25.8 million). The number of active employees increased by 36 year-on-year, to 611. Non-staff expenses (including depreciation, amortisation and write-downs) declined slightly, by 1.1%, from 19.0 million to 18.8 million. Net result from financial instruments in accordance with IAS 39 (comprising the trading result, the hedge result, the result from derivatives entered into without intention to trade, and the result from investment securities) which is generally volatile amounted to 27.9 million (Q1 2015: 60.8 million). The previous year's figure included substantial non-recurring income from the sale of investment securities, due to the partial disposal of the stake in Wizz Air Holdings Plc. This one-off effect, which was generated in the Bank's Aviation Investment Management activities, did not materialise during the reporting period Consolidated net income before bank levy, BVR Deposit Guarantee Scheme, and taxes totalled 34.4 million (Q1 2015: 95.8 million). Estimated bank levy charges of 3.7 million for the financial year 2016 (2015: 3.3 million in bank levy actually paid) as well as 4.8 million in expenses for the Deposit Guarantee Scheme of the National Association of German Cooperative Banks (2015: 4.6 million in expenses for the BVR Deposit Guarantee Scheme) needed to be deducted from this figure already at the beginning of the year. 2

3 Consolidated net income before taxes declined by 69.3% year-on-year, from 84.3 million to 25.9 million, and consolidated net income after taxes of 19.2 million was well short of the previous year's figure of 74.9 million. DVB's total assets decreased to 25.7 billion as at 31 March 2016, down 3.4% from the 2015 year-end (31 December 2015: 26.6 billion), mainly due to currency translation effects. DVB's nominal volume of customer lending (the aggregate of loans and advances to customers, guarantees and indemnities, irrevocable loan commitments, and derivatives) was down 4.7%, to 24.1 billion. In US dollar terms, it remained constant, at US$27.5 billion. DVB employs key financial indicators to assess and manage its business: the return on equity (ROE) before taxes, the cost/income ratio (CIR) and the risk-adjusted Economic Value Added (EVA ). In order to harmonise the calculation methodology and enhance transparency thereof, the Bank has included expenses for the bank levy and the BVR Deposit Guarantee Scheme, as well as the operative component of the IAS 39 result (the result from investment securities) in its calculation methodology for all three financial indicators since the first quarter of Expenses for the bank levy and the BVR Deposit Guarantee Scheme must be recognised at the beginning of each financial year, for the full year, and are then no longer amortised over the course of the year. However, in DVB's view, amortising these charges over the periods within a financial year is commercially sensible for calculating key financial indicators, since this allows for a more realistic reflection of business performance. On this basis, the Bank's financial indicators developed as follows: The ROE before taxes stood at 1.3% (Q1 2015: 23.5%) and was calculated as follows: consolidated net income before IAS 39 and taxes (but including the result from investment securities) was divided by the total of weighted capital (issued share capital, capital reserve, retained earnings excluding funds for general banking risks, non-controlling interests and deferred taxes, as well as before appropriation of consolidated net income) on a pro-rata basis. The CIR totalled 54.4% (Q1 2015: 34.1%) and was calculated in the following manner: the aggregate of general administrative expenses as well as pro-rata expenses for the bank levy and the BVR Deposit Guarantee Scheme was divided by the total of net interest income before allowance for credit losses, net fee and commission income, the result from investment securities, results from investments in companies accounted for using the equity method, and net other operating income/expenses. The risk-adjusted indicator EVA amounted to 21.2 million (Q1 2015: 53.9 million) and was calculated by deducting pro-rata risk capital costs from consolidated net income before IAS 39 and taxes (but including the result from investment securities). DVB discloses capital ratios determined in accordance with the Basel III framework (Advanced Approach). On this basis, the common equity tier 1 ratio as at 31 March 2016 amounted to 13.5% (31 December 2015: 16.3%), whilst the total capital ratio was 18.7% (31 December 2015: 22.4%). 3

4 About DVB Bank SE: DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading specialist in the international transport finance business. The Bank offers integrated financing solutions and advisory services in respect of Shipping Finance, Aviation Finance, Offshore Finance and Land Transport Finance. DVB is present at all key international financial centres and transport hubs: at its Frankfurt/Main head office, as well as various European locations (Amsterdam, Athens, Hamburg, London, Oslo and Zurich), plus offices in the Americas (New York City and Curaçao) and in Asia (Singapore and Tokyo). DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE ). Further information is available on DVB contact: Elisabeth Winter Head of Group Corporate Communications Managing Director Phone:

5 DVB Bank Group Condensed income statement (IFRS) as at 31 March 2016 mn 1 Jan Mar Jan Mar 2015 % Net interest income Allowance for credit losses Net interest income after allowance for credit losses Net fee and commission income Results from investments in companies accounted for using the equity method General administrative expenses 1) Net other operating income/expenses Consolidated net income before IAS 39, bank levy, BVR 2) Deposit Guarantee Scheme and taxes 1) Net result from financial instruments in accordance with IAS Consolidated net income before bank levy, BVR 2) Deposit Guarantee Scheme and taxes 1) Expenses for the bank levy and the BVR 2) Deposit Guarantee Scheme Consolidated net income before taxes Income taxes Consolidated net income thereof: consolidated net income attributable to non-controlling interests thereof: consolidated net income attributable to shareholders of DVB Bank SE Earnings per share ( ) Basic earnings per share Diluted earnings per share Key financial indicators (%) Cost/income ratio , pp Return on equity before taxes pp Economic Value Added ( million) ) In the previous year, pro-rata expenses for the BVR Deposit Guarantee Scheme were reported in general administrative expenses. To enhance comparability of the figures, these expenses were reclassified retrospectively, and are now also included in "Expenses for bank levy and the BVR Deposit Guarantee Scheme". 2) National Association of German Cooperative Banks

6 Consolidated net income as at 31 March [ mn]

7 DVB Bank Group Statement of financial position (IFRS) as at 31 March 2016 Assets ( mn) 31 Mar Dec 2015 % Cash and balances with the central bank 1, , Loans and advances to banks , Loans and advances to customers 22, , Allowance for credit losses Positive fair values of derivative hedging instruments Trading assets Investment securities Investments in companies accounted for using the equity method Intangible assets Property and equipment Income tax assets Other assets Non-current assets held for sale 20.9 Total 25, , Liabilities and equity ( mn) Deposits from other banks 3, , Deposits from customers 7, , Securitised liabilities 12, , Negative fair values of derivative hedging instruments Trading liabilities Provisions Income tax liabilities Other liabilities Subordinated liabilities Equity 1, , Issued share capital Capital reserve Retained earnings thereof: fund for general banking risks Revaluation reserve Reserve from cashflow hedges Reserve from net investment hedges Currency translation reserve Distributable profit Non-controlling interests Total 25, , Customer lending volume ( bn) Capital ratios Basel III (%) Common equity tier 1 ratio pp Additional tier 1 ratio pp Total capital ratio pp

8 Customer lending volume by business division as at 31 March 2016 Shipping Finance Aviation Finance Offshore Finance Land Transport Finance ITF Suisse Investment Management Business no longer in line with the Bank s strategy 46.1% ( 0.5 pp) 30.7% (+0.3 pp) 9.5% (0.0 pp) 7.5% (+0.8 pp) 3.7% ( 0.3 pp) 2.1% (+0.1 pp) 0.4% ( 0.4 pp)

Quarterly Statement Three-Month Results

Quarterly Statement Three-Month Results Quarterly Statement Three-Month Results 2016 Key events and transactions 2 DVB posts reasonable consolidated net income before taxes for the first quarter of 2016 During the first three months of 2016,

More information

Interim Statements Three-Month Results

Interim Statements Three-Month Results Interim Statements Three-Month Results 2015 Substantial events and deals 2 DVB Bank posts strong results for the first quarter of 2015 DVB more than doubled consolidated net income, from 33.9 million to

More information

NORDIC SHIPHOLDING. Interim Report H1 2015. 26 August 2015 CVR-no. 76 35 17 16

NORDIC SHIPHOLDING. Interim Report H1 2015. 26 August 2015 CVR-no. 76 35 17 16 NORDIC SHIPHOLDING Interim Report H1 2015 26 August 2015 CVR-no. 76 35 17 16 Summary The comparison figures for period ended 30 June 2014 are stated in parenthesis. The Group generated a profit before

More information

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:

More information

mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com

mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Date: 27 August 2015 For information: mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Growth of 20% in net result, excluding non-recurring items, to EUR 8.3

More information

Logwin AG. Interim Financial Report as of 31 March 2015

Logwin AG. Interim Financial Report as of 31 March 2015 Logwin AG Interim Financial Report as of 31 March 2015 Key Figures 1 January 31 March 2015 Earnings position In thousand EUR 2015 2014 Revenues Group 274,433 278,533 Change on 2014-1.5% Solutions 101,821

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) FY 2014 FY 2015 % change Q4 2014 Q4 2015 % change un Revenue 2,620 2,646 1.0% 711 672-5.5% Cost of sales (1,813) (1,804) -0.5% (489) (464) -5.1%

More information

Frankfurt am Main 29 April 2014. Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion

Frankfurt am Main 29 April 2014. Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion Release Frankfurt am Main 29 April 2014 Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion Group results Income before income taxes (IBIT) of EUR 1.7 billion, down 30%

More information

Press release. LBBW improves half-year result. 25 August 2015

Press release. LBBW improves half-year result. 25 August 2015 Christian Potthoff Head of Communications Landesbank Baden-Württemberg Am Hauptbahnhof 2 70173 Stuttgart Telephone +49 711 127-73946 Fax +49 711 127-74861 Christian.Potthoff@LBBW.de www.lbbw.de LBBW improves

More information

Interim announcement as of 31 December 2008. IKB: interim announcement as of 31 December 2008

Interim announcement as of 31 December 2008. IKB: interim announcement as of 31 December 2008 IKB: interim announcement as of With the end of 26 February 2009, the IKB Deutsche Industriebank AG share left the Prime Standard of the Frankfurt Stock Exchange and was then listed in the General Standard.

More information

Postbank Group Interim Management Statement as of September 30, 2013

Postbank Group Interim Management Statement as of September 30, 2013 Postbank Group Interim Management Statement as of September 30, 2013 Preliminary Remarks Macroeconomic Development Business Performance Preliminary Remarks This document is an interim management statement

More information

Financial Data Supplement 2Q2013

Financial Data Supplement 2Q2013 Deutsche Bank Financial Data Supplement 2Q2013 30 July 2013 1 2 2Q2013 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Group Core Bank Non-Core Operations Unit 3 Consolidated Statement

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) FY 2013 FY 2014 % change Q4 2013 Q4 2014 % change un Revenue 2,865 2,620-8.6% 739 711-3.8% Cost of sales (2,031) (1,813) -10.7% (511) (489) -4.3%

More information

OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report. OP Mortgage Bank Interim Report for January March 2016

OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report. OP Mortgage Bank Interim Report for January March 2016 OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report OP Mortgage Bank Interim Report for January March 2016 OP Mortgage Bank (OP MB) is part of OP Financial Group and its role is to raise,

More information

CONSOLIDATED STATEMENT OF INCOME

CONSOLIDATED STATEMENT OF INCOME CONSOLIDATED STATEMENT OF INCOME Notes Sales 1) 5,429,574 5,169,545 Cost of Goods Sold 2) 3,041,622 2,824,771 Gross Profit 2,387,952 2,344,774 Selling Expenses 3) 1,437,010 1,381,132 General and Administrative

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q3 2014 Q3 2015 % change 9m 2014 9m 2015 % change Revenue 636 661 3.9% 1,909 1,974 3.4% Cost of sales (440) (453) 3.0% (1,324) (1,340) 1.2% Gross

More information

Interim management statement

Interim management statement Interim management statement 1st quarter of 2016 FIRST QUARTER AT A GLANCE DEUTZ Group: Overview DEUTZ Group: Segments New orders 327.3 321.0 Unit sales (units) 32,112 36,907 Revenue 300.2 318.1 EBITDA

More information

Bank Austria posts net profit of EUR 350 million for the first quarter

Bank Austria posts net profit of EUR 350 million for the first quarter Bank Austria IR Release Günther Stromenger +43 (0) 50505 57232 Vienna, 13 May 2014 Results for the first quarter of 2014: Bank Austria posts net profit of EUR 350 million for the first quarter Sound commercial

More information

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet 7 Events after the balance sheet date 8 Income statement

More information

Commerzbank: Strategy successful net profit of over 1 billion euros and dividend

Commerzbank: Strategy successful net profit of over 1 billion euros and dividend IR release 12 February 2016 Commerzbank: Strategy successful net profit of over 1 billion euros and dividend Operating profit in 2015 more than doubled to EUR 1,909 m (2014: EUR 689 m) Operating profit

More information

Financial Results. siemens.com

Financial Results. siemens.com s Financial Results Fourth Quarter and Fiscal 2015 siemens.com Key figures (in millions of, except where otherwise stated) Volume Q4 % Change Fiscal Year % Change FY 2015 FY 2014 Actual Comp. 1 2015 2014

More information

Unaudited Financial Statements For The First Quarter Ended 31st March 2016

Unaudited Financial Statements For The First Quarter Ended 31st March 2016 HO BEE LAND LIMITED (Co. Regn. No. 198702381M) Unaudited Financial Statements For The First Quarter Ended 31st March 2016 1(a) CONSOLIDATED INCOME STATEMENT For The First Quarter Ended 31st March 2016

More information

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year

More information

Highlights of Annual Report January December 2014

Highlights of Annual Report January December 2014 Highlights of Annual Report January December HIGHLIGHTS OF ANNUAL REPORT PRESS RELEASE 4 February 2015 Highlights of Handelsbanken s Annual Report Highlights JANUARY DECEMBER of Handelsbanken s Annual

More information

Consolidated balance sheet

Consolidated balance sheet 83 Consolidated balance sheet December 31 Non-current assets Goodwill 14 675.1 978.4 Other intangible assets 14 317.4 303.8 Property, plant, and equipment 15 530.7 492.0 Investment in associates 16 2.5

More information

Sydbank s preliminary announcement of 2006 annual results

Sydbank s preliminary announcement of 2006 annual results Copenhagen Stock Exchange London Stock Exchange Bourse de Luxembourg Other stakeholders Stock Exchange Announcement No 01/07 Group Executive Management Peberlyk 4 PO Box 1038 DK-6200 Aabenraa Tel +45 74

More information

Earnings Release Q1 FY 2016 October 1 to December 31, 2015

Earnings Release Q1 FY 2016 October 1 to December 31, 2015 Munich, Germany, January 25, 2016 Earnings Release FY 2016 October 1 to December 31, 2015 Strong start into the fiscal year earnings outlook raised»we delivered a strong quarter and are well underway in

More information

Significant investment in Slovenia and bond issuance

Significant investment in Slovenia and bond issuance DDM DEBT AB (publ) Corporate Registration Number: 559053-6230 Interim Report Q3 1 July 30 September Significant investment in Slovenia and bond issuance Highlights third quarter Net collections of EUR

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q3 2013 Q3 2014 % change 9m 2013 9m 2014 % change Revenue 689 636-7.7% 2,126 1,909-10.2% Cost of sales (497) (440) -11.5% (1,520) (1,324) -12.9%

More information

PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2, Q3), HALF-YEAR AND FULL YEAR RESULTS

PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2, Q3), HALF-YEAR AND FULL YEAR RESULTS CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD (Company Registration No. 199303293Z) First Quarter Financial Statement For The Period Ended 31 March 2015 PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1,

More information

Interim report as at 30 September 2015

Interim report as at 30 September 2015 Interim report as at 30 September 2015 Fielmann improves unit sales, revenue and profit Specialists of tomorrow: 3,000 apprentices Fielmann creates 500 new jobs Fielmann Aktiengesellschaft Group interim

More information

Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009

Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009 Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009 Table of Contents 1. Financial Highlights 3 2. Consolidated Financial Statements of Fortis

More information

Consolidated Financial Summary under IFRS for the fiscal year ending March 31, 2015 (April 1, 2014 - March 31, 2015)

Consolidated Financial Summary under IFRS for the fiscal year ending March 31, 2015 (April 1, 2014 - March 31, 2015) Monex Group, Inc. Consolidated Financial Summary under IFRS for the fiscal year 2015 (April 1, 2014 - March 31, 2015) This is an English translation of Japanese report of the consolidated financial summary

More information

Summarised annual financial statements

Summarised annual financial statements 79 Summarised annual financial statements The summary presented on pages 81 to 85 of this report has been extracted from the audited annual consolidated financial statements. This report is itself not

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q2 2012 Q2 2013 % H1 2012 H1 2013 % Restated * change Restated * change Revenue 779 732-6.0% 1,513 1,437-5.0% Cost of sales (553) (521) -5.8%

More information

TO OUR SHAREHOLDERS PROFITABLE GROWTH COURSE INTERNATIONALIZATION FURTHER EXTENDED US MARKET IN FOCUS

TO OUR SHAREHOLDERS PROFITABLE GROWTH COURSE INTERNATIONALIZATION FURTHER EXTENDED US MARKET IN FOCUS QUARTERLY STATEMENT AS OF MARCH 31, 2015 TO OUR SHAREHOLDERS Patrik Heider, Spokesman of the Executive Board and CFOO The Nemetschek Group has made a dynamic start in the 2015 financial year and continues

More information

Frankfurt am Main 26 April 2015. Deutsche Bank reports first quarter 2015 net income of EUR 559 million

Frankfurt am Main 26 April 2015. Deutsche Bank reports first quarter 2015 net income of EUR 559 million Release Frankfurt am Main 26 April 2015 Deutsche Bank reports first quarter 2015 net income of EUR 559 million Group results Income before income taxes (IBIT) of EUR 1.5 billion, a decrease of 12% from

More information

Quarterly Report II/2004

Quarterly Report II/2004 Quarterly Report II/ Foreword Group management report Dear Shareholders, Result of operations Stagnating share prices and declining trading volumes dominated the German stock exchanges in Q2. The hike

More information

Financial Data Supplement 4Q2011

Financial Data Supplement 4Q2011 Deutsche Bank Financial Data Supplement 4Q2011 20 March 2012 4Q2011 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Consolidated Statement of Income 3 Net revenues 4 Net interest

More information

Quarterly Financial Supplement - 1Q 2016

Quarterly Financial Supplement - 1Q 2016 Quarterly Financial Supplement - 1Q 2016 Page # Consolidated Financial Summary... 1 Consolidated Income Statement Information... 2 Consolidated Financial Information and Statistical Data... 3 Consolidated

More information

Liquidity and Funding Resources

Liquidity and Funding Resources 112 Allianz Group Annual Report Liquidity and Funding Resources Organization The liquidity management of the Allianz Group is based on policies and guidelines approved by the Board of Management of Allianz

More information

Overview of the key figures for the first half of the year

Overview of the key figures for the first half of the year Half-Year Report 2015 Q2 Revenues increase in the first half of the year by 23% EBIT increased by 1.5 million euros compared to the previous year Order book is growing Overall annual forecast remains unchanged

More information

Earnings Release Q2 FY 2015 January 1 to March 31, 2015

Earnings Release Q2 FY 2015 January 1 to March 31, 2015 Munich, Germany, May 7, 2015 Earnings Release FY 2015 January 1 to March 31, 2015 Portfolio gains drive income»for business volume, we performed well in our markets. The profitability of our Industrial

More information

CONSOLIDATED INTERIM FINANCIAL STATEMENTS

CONSOLIDATED INTERIM FINANCIAL STATEMENTS CONSOLIDATED INTERIM FINANCIAL STATEMENTS AND GROUP INTERIM MANAGEMENT REPORT SECOND QUARTER OF 2008 JUNE 30, 2008 FRANCONOFURT AG FRANKFURT AM MAIN FRANCONOFURT AG, FRANKFURT AM MAIN CONSOLIDATED INTERIM

More information

IFRS Reference Quarterly Consolidated Financial Statements

IFRS Reference Quarterly Consolidated Financial Statements Quarterly Consolidated Financial Statements For the 6 months ended September 30, 2015 The statutory consolidated financial statements of Daiwa Securities Group Inc. filed under Financial Instruments and

More information

Interim report as at 30 September 2014

Interim report as at 30 September 2014 Interim report as at 30 September 2014 Fielmann increases unit sales, revenue and profit Result registers significant growth in the 3 rd quarter of 2014 Fielmann trains more than 2,900 opticians Fielmann

More information

NASDAQ OMX Copenhagen A/S. Preliminary announcement of financial statements 2014 24 February 2015

NASDAQ OMX Copenhagen A/S. Preliminary announcement of financial statements 2014 24 February 2015 NASDAQ OMX Copenhagen A/S EXECUTIVE BOARD Vestergade 8-16 DK-8600 Silkeborg Tel.: +45 89 89 89 89 Fax: +45 89 89 19 99 www. jyskebank.dk E-mail: jyskebank@jyskebank.dk Business reg. no. DK17616617 - Preliminary

More information

Interim Report as of 30 September 2015. Deutsche Pfandbriefbank Group

Interim Report as of 30 September 2015. Deutsche Pfandbriefbank Group Interim Report as of 30 September 2015 Deutsche Pfandbriefbank Group Overview Deutsche Pfandbriefbank Group (pbb Group) 1.1. 30.9. 2015 1.1. 30.9. 2014 Operating performance according to IFRS Profit or

More information

ČSOB GROUP REPORTED 2008 NET PROFIT OF CZK 1.034BN 1

ČSOB GROUP REPORTED 2008 NET PROFIT OF CZK 1.034BN 1 Prague, 12 February 2009 ČSOB GROUP REPORTED 2008 NET PROFIT OF CZK 1.034BN 1 ČSOB group confirms the preliminary results published on 22 January 2009 and provides more details. Net profit reported: CZK

More information

REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR

REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR EFFECTS OF THE TRANSITION TO IFRS ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER

More information

FINANCIAL INFORMATION FOR THE FIRST QUARTER 2015 (Condensed and Unaudited)

FINANCIAL INFORMATION FOR THE FIRST QUARTER 2015 (Condensed and Unaudited) FINANCIAL INFORMATION FOR THE FIRST QUARTER 2015 (Condensed and Unaudited) Page Financial Statements (IFRS, Unaudited) Consolidated Income Statements Consolidated Statements of Financial Position Consolidated

More information

Sydbank s Interim Report Q1-Q3 2014

Sydbank s Interim Report Q1-Q3 2014 SYDBANK INTERIM REPORT Q1-Q3 2014 Sydbank s Interim Report Q1-Q3 2014 Sydbank s plan to increase profitability is generating results CEO Karen Frøsig comments on the interim financial statements: - Q3

More information

Financial Summary. as a % of balance sheet total

Financial Summary. as a % of balance sheet total InVision AG Financial Report 6M 2015 Consolidated Interim Financial Statements of InVision AG as of 30 June 2015 in accordance with IFRS and 315a of the German Commercial Code as well as the Group management

More information

The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc.

The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc. We only advise on our own life assurance, pensions and unit trusts The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC

More information

EVENTS AFTER THE END OF THE PERIOD

EVENTS AFTER THE END OF THE PERIOD BE Q1 Interim report BE Group AB (publ) January March 2015 Malmö, April 28, 2015 FIRST QUARTER 2015 Net sales rose by 2 percent compared with the year-earlier period, amounting to SEK 1,104 M (1,083).

More information

Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014

Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014 Warsaw, February 12, 2015 Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014 Legal basis: Art. 5 section 1 item 25) of the Ordinance

More information

An income statement and statement of comprehensive income (continued)

An income statement and statement of comprehensive income (continued) FIRST RESOURCES LIMITED Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2015 1(a) An income statement and statement of comprehensive income or a statement

More information

Izola Bank p.l.c. First Half 2010 Results - Highlights

Izola Bank p.l.c. First Half 2010 Results - Highlights First Half 2010 Results - Highlights Review of Performance Profit before tax of 781,522 for the six months ended 30 June 2010 down 56,058 or 6.7 per cent, compared with 837,580 for the same period in 2009.

More information

Press Release. Major Elements of the Consolidated Accounts. Balance Sheet

Press Release. Major Elements of the Consolidated Accounts. Balance Sheet Presse und Kommunikation MAIN TOWER Neue Mainzer Straße 52-58 60311 Frankfurt am Main www.helaba.de Tel.: +49 (0) 69 / 9132 2192 Wolfgang Kuß E-Mail: wolfgang.kuss@helaba.de Ursula-Brita Krück E-Mail:

More information

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Press release For business desks 7 November 2013 Commerzbank: operating profit of EUR 103 m in third quarter Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Annual

More information

Condensed consolidated income statement

Condensed consolidated income statement RESTATED AND PREVIOUSLY COMMUNICATED (OLD) QUARTERLY INFORMATION FOR Fortum signed the agreement to sell its Swedish distribution business on 13 March 2015, which concludes Fortum s divestment of its electricity

More information

Year ended 31 Dec 2009

Year ended 31 Dec 2009 PACE PLC CHANGE OF FUNCTIONAL AND PRESENTATIONAL CURRENCY AND COMPARATIVES RE-PRESENTED IN US DOLLARS Introduction Pace announced at the time of its preliminary results announcement that the Board had

More information

Group Quarterly Statement as at 31 March 2016

Group Quarterly Statement as at 31 March 2016 Group Quarterly Statement as at 31 March 2016 1. BUSINESS REPORT 1.1 GENERAL DEVELOPMENTS IN THE GROUP During the first quarter of 2016 Sixt Group maintained its revenue and earnings growth seamlessly

More information

Icelandair Group hf.

Icelandair Group hf. Icelandair Group hf. Condensed Consolidated Interim Financial Information 1 January - 31 March 2010 ISK Icelandair Group hf. Reykjavíkurflugvöllur 101 Reykjavík Iceland Reg. no. 631205-1780 Contents Endorsement

More information

First quarter report Cover photo: Rune Rimmereide Nilsen

First quarter report Cover photo: Rune Rimmereide Nilsen X highlights... 3 Report from the board of directors. 4 Results 4 Balance sheet. 5 Export lending... 5 Local government lending... 5 Securities.. 5 Funding.... 6 Liquidity.... 6 Regulatory framework...

More information

SKW Metallurgie s World in Figures

SKW Metallurgie s World in Figures Report for the 3 rd Quarter 2014 SKW Metallurgie s World in Figures Key Figures Unit Q1-3 2014 Q1-3 2013 P&L Revenues EUR mill 234.8 243.6 EBITDA EUR mill 13.6 15.0 EBIT EUR mill -56.4 7.4 EBT EUR mill

More information

Q1 2015. Interim Management Statement

Q1 2015. Interim Management Statement Q1 Interim Management Statement BASIS OF PRESENTATION This report covers the results of Lloyds Banking Group plc together with its subsidiaries (the Group) for the three ch. Statutory basis Statutory information

More information

Q3/2010 Interim report as of September 30, 2010

Q3/2010 Interim report as of September 30, 2010 Q3/2010 Interim report as of September 30, 2010 Overview of key figures 01.01.-30.09.2010 01.01.-30.09.2009 Change in % Net fee and commission income EUR million 25,89 27,03-4,2 Net trading income EUR

More information

Transition to International Financial Reporting Standards

Transition to International Financial Reporting Standards Transition to International Financial Reporting Standards Topps Tiles Plc In accordance with IFRS 1, First-time adoption of International Financial Reporting Standards ( IFRS ), Topps Tiles Plc, ( Topps

More information

Letter from the Management Board 3. Key Financial Figures 4. Management Report 5. Consolidated Income Statement (IFRS) 9

Letter from the Management Board 3. Key Financial Figures 4. Management Report 5. Consolidated Income Statement (IFRS) 9 3-Months Report 2015 Content Letter from the Management Board 3 Key Financial Figures 4 Management Report 5 Consolidated Income Statement (IFRS) 9 Consolidated Statement of Comprehensive Income (IFRS)

More information

Contact 6-Month Report 2005

Contact 6-Month Report 2005 Contact 6-Month Report 2005 Security Networks AG Kronprinzenstrasse 30 45128 ssen Germany Phone: +49 (0) 201 54 54-0 Fax: +49 (0) 201 54 54-456 Internet: www..com -mail: investor.relations@.com Key figures

More information

Interim report as at 31 March 2014. Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one

Interim report as at 31 March 2014. Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one Interim report as at 31 March 2014 Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one Fielmann Aktiengesellschaft Group interim report as at 31

More information

PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2, Q3), HALF-YEAR AND FULL YEAR RESULTS

PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2, Q3), HALF-YEAR AND FULL YEAR RESULTS CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD (Company Registration No. 199303293Z) First Quarter Financial Statement For The Period Ended 31 March 2016 PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1,

More information

Northern Rock plc: Half Year Results 2011

Northern Rock plc: Half Year Results 2011 Press Release 3 August 2011 Northern Rock plc: Half Year Results 2011 Northern Rock has continued to build momentum during the first half of the year and considerably improved its position over 2010 The

More information

QUARTERLY REPORT 2015

QUARTERLY REPORT 2015 15 3 Consolidated balance sheet 5 Consolidated income statement 6 Statement of changes in equity 7 Condensed notes 3 Consolidated financial statements Consolidated balance sheet ASSETS 31.12.2014 in %

More information

Frankfurt am Main 27 April 2010. Deutsche Bank reports first quarter 2010 net income of EUR 1.8 billion

Frankfurt am Main 27 April 2010. Deutsche Bank reports first quarter 2010 net income of EUR 1.8 billion Release Frankfurt am Main 27 April 2010 Deutsche Bank reports first quarter 2010 net income of EUR 1.8 billion Net revenues of EUR 9.0 billion, up 24% Second best quarterly income before income taxes of

More information

(a real estate investment trust constituted on 1 November 2013 under the laws of the Republic of Singapore)

(a real estate investment trust constituted on 1 November 2013 under the laws of the Republic of Singapore) (a real estate investment trust constituted on 1 November 2013 under the laws of the Republic of Singapore) IREIT GLOBAL ANNOUNCEMENT Introduction IREIT Global ( IREIT ) is a Singapore real estate investment

More information

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 The Board of Abbey plc reports a profit before taxation of 18.20m which compares with a profit of 22.57m for

More information

NN GROUP FINANCIAL SUPPLEMENT 4Q2014

NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could

More information

July September 2013. July September 2014

July September 2013. July September 2014 Interim Report Interim Report Sales in the quarter increased to SEK 225.1 (216.9) million. In local currencies the decrease was 1.1 per cent. Operating profit for the quarter was SEK 12.9 (5.7) million.

More information

TO OUR SHAREHOLDERS DYNAMIC FIRST HALF YEAR

TO OUR SHAREHOLDERS DYNAMIC FIRST HALF YEAR HALF YEAR REPORT AS OF JUNE 30, 2015 TO OUR SHAREHOLDERS Patrik Heider, Spokesman of the Executive Board and CFOO The Nemetschek Group maintained its dynamic development from the first quarter of 2015

More information

Paris Orléans. Full year 2013/2014 results presentation

Paris Orléans. Full year 2013/2014 results presentation Paris Orléans Full year 2013/2014 results presentation 25 June 2014 Contents Sections 1 Highlights of 2013/2014 2 2 Business review 4 3 Financial review 9 Appendices 23 1 1. Highlights of 2013/2014 1.

More information

INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015

INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015 INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015 15 3 Consolidated balance sheet 5 Consolidated income statement 6 Statement of changes in equity 7 Condensed notes INTERIM FINANCIAL STATEMENT AS PER

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549. Form 6-K. CREDIT SUISSE AG (Translation of registrant s name into English)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549. Form 6-K. CREDIT SUISSE AG (Translation of registrant s name into English) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 October 21,

More information

POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015

POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015 POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015 PRELIMINARY REMARKS MACROECONOMIC DEVELOPMENT BUSINESS PERFORMANCE PRELIMINARY REMARKS This document is an interim management statement

More information

Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft 7 February 2013 Deutsche Bank Aktiengesellschaft Fourth Supplemental Registration Document Pursuant to Art. 5 (3) of the Directive 2003/71/EC and 12 (1) 3 German Securities Prospectus Act (Wertpapierprospektgesetz)

More information

Financial highlights:

Financial highlights: Mortice Limited 1 The Company s Annual Report and Accounts for the financial year ended on 31 st March, 2013 together with a notice convening the Company s Annual General Meeting at 36, Robinson Road,

More information

Consolidated Financial Results for the First Two Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP)

Consolidated Financial Results for the First Two Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Consolidated Financial Results for the First Two Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Name of Listed Company: Yokogawa Electric Corporation (the Company herein) Stock Exchanges

More information

Pfeiffer Vacuum announces results for FY 2014

Pfeiffer Vacuum announces results for FY 2014 PRESS RELEASE Pfeiffer Vacuum announces results for FY 2014 Total sales of 406,6 million EBIT margin at 11,0 percent Dividend proposal of 2.65 euros Asslar, Germany, March 26, 2015. Total sales for FY

More information

Consolidated Interim Report

Consolidated Interim Report Consolidated Interim Report as of 31 March 2015 UNIWHEELS AG CONTENTS 1. Key performance data 2. Condensed group management report as of 31 March 2015 3. Condensed consolidated financial statements as

More information

Bank Austria IR Release

Bank Austria IR Release Bank Austria IR Release Günther Stromenger +43 (0) 50505 57232 Vienna, 12 February 2015 Preliminary results 1 for the 2014 financial year: Bank Austria posts net profit of about EUR 1.4 billion Sound operating

More information

NN GROUP FINANCIAL SUPPLEMENT 1Q2016

NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are

More information

2015 Quarterly Report II

2015 Quarterly Report II 2015 Quarterly Report II 2 Key data Eckert & Ziegler 01 06/2015 01 06/2014 Change Sales million 69.0 61.9 + 11 % Return on revenue before tax % 16 % 9 % + 87 % EBITDA million 15.6 9.7 + 61 % EBIT million

More information

Statement by the management 16. Supplementary information 17. Realkredit Danmark First Quarter 2015 2/17

Statement by the management 16. Supplementary information 17. Realkredit Danmark First Quarter 2015 2/17 Interim Report First Quarter 2015 Management s report Financial highlights Realkredit Danmark Group 3 Overview, first quarter 2015 4 Mortgage credit market 4 Results 4 Balance sheet 5 Capital and solvency

More information

SAGICOR FINANCIAL CORPORATION

SAGICOR FINANCIAL CORPORATION Interim Financial Statements Nine-months ended September 30, 2015 FINANCIAL RESULTS FOR THE CHAIRMAN S REVIEW The Sagicor Group recorded net income from continuing operations of US $60.4 million for the

More information

CONSOLIDATED RESULTS AS AT 30 JUNE 2012

CONSOLIDATED RESULTS AS AT 30 JUNE 2012 CONSOLIDATED RESULTS AS AT 30 JUNE 2012 THE IMPLEMENTATION OF THE PROJECT TO SIMPLIFY THE GROUP CORPORATE STRUCTURE CONTINUES, WITH POSITIVE EFFECTS ON CAPITAL AND SYNERGIES FURTHER IMPROVEMENT IN THE

More information

HORNBACH Holding AG & Co. KGaA Group Q3/9M 2016/2017

HORNBACH Holding AG & Co. KGaA Group Q3/9M 2016/2017 HORNBACH Holding AG & Co. KGaA Group Q3/9M 2016/2017 Quarterly Statement as of November 30, 2016 2 HORNBACH HOLDING AG & CO. KGaA GROUP QUARTERLY STATEMENT: 3 RD QUARTER OF 2016/2017 HORNBACH HOLDING AG

More information

2014/2015 The IndusTrIal Group

2014/2015 The IndusTrIal Group Q2 2014/2015 Half-Year Interim Report 2014/2015 1 April to 30 September 2014 The Industrial Group The first six months of financial year 2014/2015 at a glance Incoming orders increased in the first half

More information