Lloyd Fonds Aktiengesellschaft / Preliminary Results/Forecast
14.02.2008
Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Preliminary sales, EBIT and net profit figures
Roughly 27 percent increase in sales to EUR 92 million
Proposed dividend of EUR 1.30
Hamburg, February 14, 2008. In 2007, Lloyd Fonds AG, the Hamburg-based
initiator of structured investment products, achieved a further increase in
earnings and expects to be able to report net profit of over EUR 20 million
for the year, an increase of around 5 percent over the previous year on
the basis of its preliminary figures. 'We are well and truly satisfied with
these figures and see them as confirming our growth trajectory,' says Dr.
Torsten Teichert, CEO of Lloyd Fonds AG. 'This applies to both the equity
placements of EUR 452 million and the other performance indicators. We have
continued our value-oriented strategy by diversifying into further asset
classes and expanding along the value chain.'
On the basis of the preliminary figures, sales for 2007 rose by around 27
percent to EUR 92 million (previous year EUR 72 million) accompanied by an
over 18 percent rise in EBIT to EUR 28 million. On the cost side, the
impairment losses from the condominium investment in the United States as
well as further recruiting within the Company and the cost of incorporating
new subsidiaries made themselves felt. At the same time, a higher tax rate
applied. The full annual report for 2007 will be published on April 17,
2007.
Substantial increase in equity placements
The company had already released its equity placement figures in January,
showing that subscribers invested more than EUR 450 million of equity in
Lloyd Fonds AG products, equivalent to an increase of 50 percent over the
2006 figure of EUR 301 million. In this connection, the asset classes
outside the closed-end ship fund segment benefited from disproportionately
strong growth, with the open-end ship fund contributing EUR 64 million.
Viewed solely in terms of closed-end funds, Lloyd Fonds AGs equity
placements in Germany climbed by over 30 percent. According to the
'Closed-End Funds in 2008' market study by Stefan Loipfinger, the overall
market for closed-end funds expanded by 8.7 percent to EUR 12.66 billion
last year. Against this backdrop, Lloyd Fonds achieved disproportionately
strong growth in its share of the market. 'In these times characterized by
nervous stock markets and heavy capital outflows out of stock investments,
closed-end funds are proving their merits again as an attractive form of
investment,' says Torsten Teichert. 'In fact, the placement volume achieved
last year exceeds the figure recorded in 2005, the final year in which tax
loss allocations were permitted. This shows that closed-end funds have now
completed their transformation into a return-oriented investment once and
for all.'
Dividend to be raised to EUR 1.30
On the basis of the preliminary figures, Lloyd Fonds AGs Management Board
will be asking shareholders to approve a 4 percent increase in the dividend
to EUR 1.30 at the annual general meeting. 'This increased dividend is in
line with our previous distribution strategy,' says Michael F. Seidel, CFO
at Lloyd Fonds AG, explaining this proposal. 'Moving forward, we will be
devoting a great deal of effort to ensuring that the capital market views
us as an attractive and lucrative growth stock to a greater extent. Our
figures, the acquisition of a share in Feedback AG as well as other
activities planned for this year clearly testify to these efforts.' On the
basis of the current stock price of EUR 14.00, this is equivalent to a
dividend yield of over 9 percent.
Favorable performance expected to continue in 2008
Lloyd Fonds AG will remain on its growth trajectory in 2008 assuming that
the German economy continues to be strong, interest in investments in
physical assets remains stable and access to asset finance is not impeded.
On this basis, Lloyd Fonds AG expects equity placements across all asset
classes to rise by over 30 percent to at least EUR 600 million. Of this,
closed-end ship funds will account for EUR 250 million, offerings targeted
at institutional investors for at least EUR 100 million and real estate for
EUR 80 million, while the other assets classes, primarily aircraft and UK
traded endowment policies, will contribute at least EUR 170 million. As a
result, net profit for the year should climb to around EUR 23 million.
Contact:
Dr. Goetz Schlegtendal
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-0
Fax: +49-40-325678-99
Mail: ir@lloydfonds.de
DGAP 14.02.2008
---------------------------------------------------------------------------
Language: English
Issuer: Lloyd Fonds Aktiengesellschaft
Amelungstr. 8-10
20354 Hamburg
Deutschland
Phone: +49 (0)40 32 56 78-0
Fax: +49 (0)40 32 56 78-99
E-mail: info@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
---------------------------------------------------------------------------
DGAP-News: Lloyd Fonds AG expecting to announce an increase in earnings to over EUR 20 million for 2007
| Source: EQS Group AG